pages: CityCouncil/2017-01-03.pdf, 5
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CityCouncil | 2017-01-03 | 5 | Adopted; and (17-13A) Resolution No. 15223, "Approving the Issuance by the California Enterprise Development Authority of Its Revenue Obligations on Behalf of the Bay Area Chinese Bible Church and/or a Related Entity in an Aggregate Amount Not to Exceed $12,000,000 for the Purpose of Financing and Refinancing the Cost of Acquisition, Construction, Improvement and Equipping of Certain Property, Providing the Terms and Conditions for Such Obligations and Other Matters Relating Thereto." Adopted. [New file: 600-30] The City Attorney made brief comments. On behalf of the school, Dan Bronfman, Growth Capital Associates, Inc., gave a brief presentation. Mayor Spencer opened the Public Hearing. There being no speakers, Mayor Spencer closed the Public Hearing. Councilmember Matarrese inquired whether the tool is open to any non-profit organization in the City, to which the City Attorney responded in the affirmative; stated non-profits look for an agency to conduct a Public Hearing for the organization. Mr. Brofman noted the City is joining CEDA and would not have to do so again in the future. Councilmember Ezzy Ashcraft inquired whether the membership is for a specific period of time, to which Mr. Brofman responded the membership is permanent. Councilmember Ezzy Ashcraft inquired whether the school plans to remain on the site. Steve Quen, Pastor, responded the high school was moved to Hayward several years ago. Mr. Brofman stated the church and kindergarten through eighth grade remain on the site. Councilmember Oddie inquired whether the bonds would be sold on the market, to which Mr. Brofman responded in the affirmative. Councilmember Oddie inquired whether the City has any reporting responsibility, to which the City Attorney responded in the negative; stated the City is not involved. Vice Mayor Vella moved adoption of the resolutions. Councilmember Oddie seconded the motion. Regular Meeting Alameda City Council 5 January 3, 2017 | CityCouncil/2017-01-03.pdf |