HomeMy WebLinkAboutPCDC Minutes 09/07/1994MINUTES OF A REGULAR MEETING
PETALUMA MONDAY, Y DEVELOPMENT
ENT OMMISSION1994
ROLL CALL 3:00 p.m.
PRESENT: Parkerson, Read, Hamilton, Chairman
Hilligoss
ABSENT: Barlas, Shea, Vice Chairman Sobel
MINUTES
The minutes of the August 22 meeting were approved as submitted.
RESO. 94-9
MORTGAGE CREDIT CERTIFICATE
Resolution 94-9 authorizing amendment to the 1993 cooperative agreement
between the PCDC and the Sonoma County Community Development
Commission authorizing the reallocation of Mortgage Credit Certificate Authority.
This action is to reallocate among the cities in the County. County -wide 200
lower income persons have utilized this to purchase their first home, ten of them
were in Petaluma. Introduced by Ross Parkerson, seconded by Jane Hamilton.
AYES: Parkerson, Read, Hamilton, Chairman Hilligoss
NOES: None
ABSENT: Vice Chairman Sobel, Barlas, Shea
RESO. 94-10
CONTINUATION OF MORTGAGE CREDIT CERTIFICATES
Resolution 94-10 authorizing execution of an agreement regarding the continued
use of Mortgage Credit Certificates within the City and the continued
administration of the program by the Sonoma County Community Development
Commission. The resolution is authorizing the County to consolidate the Mortgage Credit
program. Introduced by Ross Parkerson and seconded by Jane Hamilton.
AYES: Parkerson, Read, Hamilton, Chairman Hilligoss
NOES: None
ABSENT: Vice Chairman Sobel, Barlas, Shea
RESO. 94-11
INTENT TO ISSUE REVENUE OBLIGATIONS
PARKLANE APARTMENTS
Resolution 94-11 declaring the official intent of the Petaluma Community
Development Commission to issue revenue obligations for a multifamily housing
project (Parklane Apartments).
1. Issue maximum of $6 Million
2. The PCDC is not bound to make any expenditures or to incur any
indebtedness by this action
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P.C.D.C. Meeting
Se tmber 7, 1994 Page I of 2 pages
3. Establishes the hearing on October 17 at 7:00 p.m.
Introduced by Nancy Read and seconded by Ross Parkerson.
AYES: Parkerson, Read, Hamilton, Chairman Hilligoss
NOES: None
ABSENT: Vice Chairman Sobel, Barlas, Shea
RESO. 94-12
APPOINT: FINANCIAL COUNSEL
BOND COUNSEL, & UNDERWRITER
Resolution 94-12 for the Parklane Apartments bond issue, the PCDC appoints:
1. CGMS, Inc.: as Financial Advisor
2. Orrick, Herrington & Sutcliffe as Bond Counsel
3. Newman and Associates, Inc., as Underwriter
Introduced by Jane Hamilton, seconded by Ross Parkerson.
AYES: Parkerson, Read, Hamilton, Chairman Hilligoss
NOES: None
ABSENT: Vice Chairman Sobel, Barlas, Shea
ADJOURN
At 3:15 p.m. the meeting was adjourned. A
M. Patricia Hilligoss, Chairman
ATTEST:
Pa ricia E. Bernard,
Recording Secretary
P.C.D.C. Meeting September 7, 1994 Page 2 of 2 pages