Approve Resolution No. 2019-106 authorizing the execution of a Section 108 Contract for Loan Guarantee Assistance under Section 108 of the Housing and Community Development Act of 1974, as amended, pledging appropriate Non-Ad Valorem Revenues for payment of principal and interest, and authorizing the Mayor, City Manager, and City Attorney to execute the Contract, Note, and any related documents pertaining to the Section 108 Loan Guarantee Assistance. Approve Budget Resolution 20-021-A1 recognizing the $894,000 in debt proceeds that will be utilized to fund the Dr. Joe Lee Smith Community Center and Budget Amendment #20-021-A2 that will be utilized to fund the transfer from General Fund to the Section 108 Fund for the credit subsidy fee related to the loan. (Community Services Director)

Committee

City Council

Introduced

November 4, 2019

On agenda

December 11, 2019