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1993_1011_packet
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1993_1011_packet
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REQUEST FOR COUNCIL ACTION DATE: 10--1193 <br /> ITEM NO o : <br /> Dej�artment Approval: Manager Reviewedo Agenda Section: <br /> consent <br /> Item Description: Approval of resolution giving approval for the <br /> issuance of revenue bond financing for Care <br /> Institute Inc. projects <br /> Background: <br /> 1. Care Institute Inc. has requested that the City approve the <br /> issuance of 16 million in housing revenue bonds to help <br /> f inance the expansion of the Rosewood Estates pro]ect at 2750 <br /> N. Victoria Street. <br /> The City councils on August 2 ., 1993, approved a resolution <br /> requesting preliminary approval and setting the public hearing <br /> date for September 27 , 19930 <br /> 3, A public hearing was held on September 27, 1993 <br /> The City has received the attached resolution from Briggs and <br /> Morgan for Council consideration. <br /> Staff Recommendation: <br /> It is recommended that the City Council -approve the attached <br /> 1. � � issuance of $16 million of elder <br /> resolution authorizing the issua►nc <br /> care facility housing revenue bonds for Care Institute Inc* and <br /> authorizing the execution of various documents in connection <br /> therewith. <br /> Council Action Re ested: <br /> Motion 'to approve resolution of approval f or the issuance of <br /> 1. <br /> million of elder care facility revenue bonds to finance <br /> $16 � ' Rosewood <br /> Care Institute Inc. s proposed a pans'cn of the <br /> estates senior housing project at 2750 N. victoria Street and <br /> authorizing the execution of various documents in connection <br /> therewith# <br /> Staff Report by: Rick Jopke <br />
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