Laserfiche WebLink
REQU�EST FOR COUNCIL ACTION D AT E 14 / ■ 5 MMMMMMMM�*, <br />AGENDA SECTION' ORIGNATING CEPT./D1V.',' <br />Hearing 1 Administration <br />ITEM IN 0. ITEM DESCRIPTION' <br />J Preliminary Approval IR3 for <br />Presbyterian Homes of 14n.. Inc. <br />*EPT. HEA APPROVAL7_. <br />MG5e-R,E <br />, VIEWED/ RECOMMEWS'. <br />This is a hearing to receive comments on, an application for Industrial <br />Revenue Blonds in the amount of $915001000 by Presbyterian Homes for a <br />Health Care Faicilities Project. <br />Tile a-Dplicant has requested that they b�e allowed to issue revenue bonds <br />on either a public sale or private sale basis. If the bonds are sold <br />w <br />by public siale this would require waiving the IRB policy guidelines, whic <br />thie staff' would recommend. I <br />Since the applicant 'is a Section 501 (c) (3) organization operated ex- <br />clusively for rellogious and charitable purposes, thie issuance of these <br />1 7111 ere - <br />bonds is not governed by the statells, revenue bond entitlement, <br />fore, 'it is, Tiot necessary to apply to the non-entitlement pool for this <br />allocation. <br />The City's fiscal consultant has reviewed the application and has provided <br />41 <br />preliminary 'information,, comments, and recommendations concerning this <br />applicat]"Lon. <br />� 0 Motion to approve/deny a <br />COUNCIL ACTION REQUEST'EDgi <br />resolution, giving preliminary <br />approval of an application for <br />Industrial, Revenue Bonds for <br />Presbyterian Romes of Mn., Inc. <br />