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QUEST FOR COUNCIL ACTION DATE 96 9-27-93 <br /> ITEM No. : 7 <br /> AP,Tartment A roval: Manager Reviewedes Agenda SectionO <br /> Hearings' <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 /> 10 Care Institute Inca has requested that the City approve the <br /> issuance of $16 million in housing revenue bonds to help <br /> finance the expansion of the Rosewood Estates project at 2750 <br /> N. Victoria Street, <br /> 2s, The City Council staff, on August 23, 1993, approved a <br /> resolution Res s No. S 9 7 5) from Briggs and Dorgan requesting <br /> preliminary imina ry and nd setting the public hearing date for <br /> September 27p 19 9 3 o <br /> 34, A representative from Briggs and Morgan will be present at the <br /> September 7, 1993 Council meeting to discuss this matter and <br /> answer any questions the Council may have* <br /> Staff Rec ommendat i on <br /> 1 <br /> It is recommended than the City Pouncil approve the attached <br /> resolution authorizing the issuance of 15 million of housing <br /> revenue bonds for care Institute Inc e <br /> Council Action Reaues ted: <br /> Motion to approve resolution of approval for the issuance of <br /> l pF <br /> $I6 million of housing revenue bonds to finance dare Institute <br /> Inc. 's -proposed expansion of the Rosewood Estates senior <br /> h g project ousin `ect at 2750 N. Victoria Street. The resolution <br /> ] <br /> will be available at the meeting. <br /> Staff Report bye* Rick Jopke/Dennis Welsch <br />