Establish Economic Recovery Zone to qualify for federal development bonds

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Resolution 77-09

In Plain English

The city creates a special zone that qualifies it to issue federal Recovery Zone bonds. These bonds help finance economic development and facility projects at lower interest rates. If approved, the city gains access to additional funding tools for future development projects.

Auto-generated summary. Source: official agenda documents.

Votes

Approve consent calendar

Moved by: Councilmember ViramontesSeconded by: Vice Mayor Lopez
Passed

7 to 0

McLaughlinAye
ButtAye
BatesAye
RogersAye
RittermanAye
LopezAye
ViramontesAye