Hire 3 firms to set up financing districts for Point Molate development
In Plain English
The city needs specialized consultants to create land-secured financing districts that will help fund infrastructure at Point Molate. These districts allow developers to issue bonds backed by future property tax revenue from new buildings. The 3 firms will provide municipal advisory services, special tax consulting, and legal counsel for the bond process.
Auto-generated summary. Source: official agenda documents.
Votes
Support the staff recommendation
3 to 3
Allocate up to $50,000 to NHA Advisors, LLC to do a risk-benefit one-sided analysis and return to the council in two weeks
6 to 1
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