Page 13 - Gap Financing News Today

Would be unwise for the city to accept the obligation without a source of funds to do it. Okay. I think i have some more thoughts on that, but thats not part of this resolution so well move on to other questions. Can you just also explain again sort of the separation of the income stream from mixed use property that is are being transferred . What does that mean . So disillusion laws provides for an ability for the Oversight Board to make a determination that if you had a mixed use as sets bra O...

To have an interim chair. I propose [speaker not understood] act like a chair in your absence. We have to vote on that . Well, i support it. Okay, i think thats fair. Do we need to call the roll on that . Commission members, please announce your vote when i call your name. Commissioner mondejar . Yes. Commissioner singh . Yes. Vicechair rosales . Yes. And then commissioner ellington. Yes. I will return shortly. Thank you. So, the vote is 4 ayes one absent. Perfect. Madam chair, please call the n...

Increment bonds to the extent we go through a very rigorous process through the state, not just locally, where in those new areas its called zone 2. Its covered by the Transit Center district plan. All the highrises, the new property tax he he. Youll see that in a more indepth presentation staff will be presenting as part of your april 1st budget. The [speaker not understood] and uses of all that. But this is all flowing from the commissions work and the authorization. S. And how much is this co...

In construction existing in new buildings. Theres new property tax thats generated from all those highrises and cranes going on. So, were able to, again, through our agreement with the tjpa draw on new property tax and hopefully issue new tax increment bonds to the extent we go through a very rigorous process through the state, not just locally, where in those new areas its called zone 2. Its covered by the Transit Center district plan. All the highrises, the new property tax he he. Youll see th...

And b announcement of the prohibition of please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room meeting room responsible for the ringing or use of a cell phone, pager, or other similar soundproducing Electronic Devices. C an animate of time allocate for Public Comment a member has up to 3 minutes unless the commission adapts a shorter...

Think which might help, what what the purpose of the investment of the Redevelopment Agency at the time in this space. It wasnt necessarily for pearls. It was to take a space that was abandoned, useless, not contributing anything to the neighborhood, and return it into an actual marketable space that could be a retail space. Now, pearls was the initial tenant and pearls is on the hook for the loan. But the fact that now a different business other than pearls is going to be there actually means t...

A good way a good way that ive thought about this, i think which might help, what what the purpose of the investment of the Redevelopment Agency at the time in this space. It wasnt necessarily for pearls. It was to take a space that was abandoned, useless, not contributing anything to the neighborhood, and return it into an actual marketable space that could be a retail space. Now, pearls was the initial tenant and pearls is on the hook for the loan. But the fact that now a different business ot...

Mayors office of housing. This property as you may remember it was acquired on november 12th through eminent domain. In may needing an rfp was issued for the property a proposal for the messing mercy heirs was selected as hes winner and plans for 66 unit of housing with one managerial housing. On november 16th, needing we got a loan of 3. 2 million to move the project towards Construction Since is predevelopment loan was accepted we got additional funding from the development program. And well a...

That. And can you go to the slide . Sorry. And this is just, and it is a good question, and this will just two slides up. I think that would be great. And so for our housing, which is highly enhanced it has a lot of services on site and i have a slide on the kind of services that we have on the site, and for the people with the special needs who many of whom have been homeless for a very long time. And but even more so, have been in and out of Long Term Care for facilities and of the Emergency R...

Sorry. And this is just, and it is a good question, and this will just two slides up. I think that would be great. And so for our housing, which is highly enhanced it has a lot of services on site and i have a slide on the kind of services that we have on the site, and for the people with the special needs who many of whom have been homeless for a very long time. And but even more so, have been in and out of Long Term Care for facilities and of the Emergency Rooms and of the homelessness, again....