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Item B: West Broadway Project
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CC Agenda - 11/27/07 Workshop
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Item B: West Broadway Project
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6/9/2010 1:17:21 PM
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11/21/2007 9:29:17 AM
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City Council
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Agenda Item Summary
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11/27/2007
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CC – March 13, 2006: <br /> Council approved Resolution No. 4860 “A resolution authorizing submission <br />of an application to United States Department of Housing and Urban Development (HUD) for loan <br />guarantee assistance and related matters.” Vote: Passed 7:0 (Absent: Taylor). <br /> <br /> July, 2006: <br />? HUD selected the City’s Section 108 application for funding to create a <br />$9,895,000 loan pool, together with BEDI grant funds, for redevelopment projects within <br />the Downtown and Riverfront urban renewal districts. <br /> <br />Memo – December 28, 2006: <br /> Staff memo regarding “HUD Section 108 Loan Authorization” <br />described the public hearing and ordinance process. <br /> <br />CC – February 20, 2007: <br /> Council held a public hearing on the ordinance authorizing the use of <br />Section 108 as a financing tool. <br /> <br />CC – February 26, 2007: <br />Council approved the ordinance authorizing the use of the Section 108 as a <br />financing tool. The non-emergency ordinance established the City’s general ability to borrow for <br />Section 108 projects with the stipulation that individual projects be approved by council resolution <br />following a public hearing. Ordinance Number 20376, Council Bill Number 4938 “An ordinance <br />authorizing Section 108 Revenue Bonds.” Vote: Passed 7:1 (Opposed: Taylor). <br /> <br />Memo – April 9, 2007: <br /> Sue Cutsogeorge informed council that the issue of a debt policy amendment <br />th <br />would be brought to council as a consent calendar item on May 14. <br /> <br />CC – May 14, 2007: <br /> Council approved, on consent calendar, an amendment to the City’s debt <br />policies regarding conduit financing. <br /> <br />th <br />Public Comment – June 20 to July 20, 2007: <br /> The 30-day public comment period started on June 20 <br />th <br />with an advertisement in the Register Guard. No public comments received as of July 17. <br /> <br />CDBG-AC – July 10, 2007: <br />The CDBG-AC met to review the individual project #1. They <br />recommended “submittal of the individual project application to HUD subject to completion of <br />public hearing and City Council approval of a project specific resolution.” Vote: Passed 8:0 <br /> <br />CC – July 16, 2007: <br />Public hearing on the project to be funded from BEDI/HUD 108 funds. Two <br />individuals spoke at the hearing. <br /> <br />CC – July 23, 2007: <br /> Council approval of a resolution authorizing the City to enter into a Section 108 <br />loan with HUD. Vote: Passed 5-3 (Opposed: Bettman, Ortiz, Taylor). The Agency approved <br />issuance of a bond to the City with the same terms and for equal payments as the HUD Section 108 <br />loan. Vote: Passed 6-2 (Opposed: Bettman, Taylor). <br /> <br />Staff – July 30, 2007: <br /> Staff submitted individual project application to HUD for Section108 loan. <br /> <br /> August 9, 2007: <br />? HUD approved individual project application <br /> September 27, 2007: <br />? HUD provided review clearance for West Broadway Environmental <br />Review. <br /> <br />
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