CC Min 1999-01-25 Reg - Laserfiche WebLink

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vacancies and the need to allow applications and appointments from volunteers with this area of expertise who may not reside in Redwood City, but are from surrounding nearby areas. Public Hearing Opened - 8:36 p.m. No one came forward. M/S Hartnett/Leipzig to close the public hearing. The motion passed by unanimous voice vote. Public Hearing Closed - 8:37 p.m. Discussion ensued regarding the Planning Commission recommendation and vote, community-based living, higher Historic designation and expertise needed for these commissioners. M/S Claire/Ira to introduce Ordinance amending Section 40.4.1 of the Code of the City of Redwood City Relating to the Historic Resources Advisory Committee. The motion passed by majority roll call vote with Council Member Leipzig voting no. MINUTE ORDER NO. 99-014 The City Attorney read the title of the proposed Ordinance. B. Proposed Franklin Street Project - Irvine Apartment Communities (lAC) Multi-Family Housing Bond Issuance Under the California Statewide Communities Development Authority (CSCDA) (100) Community Development Services Manager Church presented the staff report regarding Irving Apartment Communities exploration of financing options for their portion of the proposed 206 apartment units of Franklin Street project, and this action assist the IAC securing eligibility for bond financing, if we enter a joint powers agreement with CSCDA, hold a public hearing on the bond issuance and approve the issuance of a multi-family housing revenue bond by the CSCDA. Discussion ensued regarding no costs or liability to the City, TETRA Hearings, bond processing, process of the bond issuance, interest rates, comparative spreads and private mortgage rate, and the benefit to City residents not the developer. Open public hearing - 8:55 p.m. No one came forward. Close Public Hearing - 8:56 REGULAR COUNCIL MEETING MINUTES BOOK NO. 57 January 25, 1999 MINUTES Page No. 246 PAGE 3