pages: CityCouncil/2007-02-06.pdf, 6
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CityCouncil | 2007-02-06 | 6 | Counci lmember Matarrese inquired whether ten years is sufficient, to which the Base Reuse and Community Development Manager responded in the affirmative. Mayor Johnson inquired whether tax increment can be collected after the redevelopment period ends. The Base Reuse and Community Development Manager responded only the amount of any outstanding debt owed. Mayor Johnson stated the tax increment is a benefit to the City; the City keeps the money instead of sending the money to the State or other jurisdictions. Councilmember Matarrese inquired whether a statutory control prevents the City from over bonding. The City Attorney responded in the affirmative; stated the City would not be able to issue a bond without the capacity to repay the bond within the legal time limits. Councilmember deHaan inquired whether bond issuance could go to the ballot. The Base Reuse and Community Development Manager responded the proposed ordinance does not have an impact on Council's decision to put bonds before the people for a vote. Councilmember Matarrese moved introduction of the ordinance. Vice Mayor Tam seconded the motion, which carried by unanimous voice vote - 5. ( 07-056) Ordinance No. 2961, "Reclassifying and Rezoning Property Located Adjacent to the Oakland Estuary and Grand Street from M-2, General Industrial (Manufacturing District to MX, Mixed Use Planned Development District (MX) " Finally passed; and (07-056A) Ordinance No. 2962, "Approving Master Plan MP05-01 - for a Mixed Use Development Including Single-Family Residential, Recreational Marina, Maritime Commercial, and Open Space Uses, Located Within a Project Area Encompassing Approximately 8.36 Acres of Land and Water at the Intersection of Grand Street and the Oakland Estuary. Finally passed. Vice Mayor Tam stated that she would abstain from voting on the matter. Regular Meeting Alameda City Council 6 February 6, 2007 | CityCouncil/2007-02-06.pdf |