pages: CityCouncil/2009-10-20.pdf, 7
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CityCouncil | 2009-10-20 | 7 | the securitization of the $2.28 million that the State will borrow from the City under Proposition 1A and return with interest of 2% within three years; the City expects to get 2.4% on investments; inquired whether it is possible to get up to 3.5% in the same investments. The City Treasurer responded in the negative; stated 3.5% is the current yield on owned securities; new securities would be purchased at the current interest rate. Councilmember Tam inquired whether the rate is more along 2.4%, to which the City Treasurer responded possibly for a three-year term. Councilmember Tam stated that securitizing is a good idea; moved approval of the staff recommendation. Councilmember Matarrese seconded the motion, which carried by unanimous voice vote - 5. (09-412) Public Hearing to Consider Introduction of Ordinance Amending the Alameda Municipal Code by Amending Subsection 30-5.14 (Barriers and Fences) of Article I (Zoning Districts and Regulations) by Adding Subsection 30-5.14 (e) to Require Administrative Use Permits in Non-Residential Districts for Temporary or Permanent Barriers or Fences Within a Required Setback or Along a Property Line that Faces a Public Street or a Public Access Easement. Applicant: City of Alameda. The Planning Services Manager gave a brief presentation. Mayor Johnson inquired how long a fence could remain, to which the Planning Services Manager responded the timeframe could be conditioned through the use permit process. Mayor Johnson stated the ordinance should include an outside time period; property owners should not consider a fence as a long-term situation; a distinction should be made between an on-going business and vacant lot. Councilmember Matarrese stated a time limit is needed. The Planning Services Manager stated the administrative use permit could have a time limit of six months the property owner would have the ability to come back and request another six months under unusual circumstances a year may be too long. Mayor Johnson stated six months is sufficient. Regular Meeting Alameda City Council 7 October 20, 2009 | CityCouncil/2009-10-20.pdf |