Submitting report relative to the Status Report of the Quality of Life Loan Dollars and Related Contracts. (On March 14, 2014, City Council approved post-petition financing (a/k/a “Quality of Life Loan”, “QOLL”) totaling $120 million for the purpose of providing “kick start” monies for reinvestment and restructuring initiatives in the Plan of Adjustment. As part of the bankruptcy process the QOLL will be replaced with Exit Financing upon approval of the Bankruptcy Court. The City Council requested the Legislative Policy Division to provide a status report on the amount of contracts being funded by QOLL dollars.) (REFERRED TO THE BUDGET, FINANCE AND AUDIT STANDING COMMITTEE ON 1-6-15)
What this record is
- Amount
- $120.0M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
professional services contracts in MI that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Budget, Finance and Audit Standing Committee
- Introduced
- September 9, 2016
- On agenda
- January 7, 2015
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