HomeMy WebLinkAboutPCDC Minutes 08/03/1992REGULAR MEETING
PETALUMA CON MUNITY DEVELOPMENT COMMISSION
MONDAY, AUGUST 39 1992
ROLL CALL: 3:00 p.m.
PRESENT: Read, Woolsey, Vice Chairman Cavanagh, Chairman Hilligoss
ABSENT: Davis, Sobel (Councilman Sobel was attending the Sonoma County
Transportation Authority meeting in Santa Rosa), Nelson
RESOLUTION 92-13
ACCEPT OFFER FROM MARINA OFFICE PARK ASSOCIATES
Resolution 9243 accepting $149,100 from Marina Office Park Associates, as prepayment of
interest, to be paid no later than June 30, 1993. The action also transfers $152,250 security
for the promissory note from Lot 1 to Lot 3, and authorizes the Executive Director to sign the
necessary documents.
In addition the PCDC approves a loan for the Marina for the years 1991-92 through 1996-97
to be drawn upon to offset any incurred deficits not to exceed the net tax increment revenues
generated by all private property in the Marina project area for the same period.
This resolution also resolves to allow the 1991-92 fiscal year budget be amended to reflect a
loan draw of $147,000.
It is noted in the resolution that Reso. 90-8 provides that all considerations from the
promissory notes are to be transferred to the City.
Introduced by Nancy Read, seconded by Jack Cavanagh.
AYES: Read, Woolsey, Vice Chairman Cavanagh,
Chairman Hilligoss
NOES: None
ABSENT: Davis, Nelson, Sobel (Commissioner Sobel was attending the Sonoma County Transportation
Authority meeting in Santa Rosa)
ADJOURN The meeting adjourned at 3:15 p.m.
Patricia Hilligoss, Chairman
Patricia E. Bernard, Recording Secretary
PCDC Meeting Monday, August 3, 1992
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