HomeMy WebLinkAboutPCDC Minutes 03/18/1996MINUTES
OF A
PETALUMA COMMUNITY DEVELOPMENT COMMISSION
MEETING
MONDAY, MARCH 18, 1996
ROLL CALL:
Present: Hamilton, Stompe, Maguire, Read, Shea, Chairman Hilligoss
Absent: Vice Chairman Barlas
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The minutes of the March 4, 1996, meeting were approved as submitted.
RESO. 96-04
OAKMONT BOND ISSUANCE
Resolution 96-04 authorizing the Issuance, Sale and Delivery of Multifamily Housing
Revenue Bonds for Oakmont Senior Housing. This item was also on the City Council
agenda for this date as a public hearing and to obtain concurrence from the legislative body
of the City. The funding for this bond issuance will not be a financial obligation of either
the Petaluma Community Development Commission or the City of Petaluma. This project
is to be constructed on Wood Sorrell Drive. This 76 unit senior housing complex is
estimated to cost $6,012,500. The bond issue is estimated to be $4,750,000; the owner is
contributing 21% or $1,262,625. Introduced by Lori Shea and seconded by Matt
Maguire.
Ayes: Hamilton, Stompe, Maguire, Read, Shea, Chairman Hilligoss
Noes: None
Absent: Vice Chairman Barlas
ADJOURN 5:30 p.m.
ATTEST: . Patricia Hilligoss, Chairman
tricia E. Bernard, Recording Secretary
PCDC Meeting Monday, March 18, 1995 Page 1 of 1 page