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Last modified
7/17/2007 1:55:56 PM
Creation date
5/17/2005 1:05:04 PM
Metadata
Fields
Template:
Planning Files
Planning Files - Planning File #
3385
Planning Files - Type
Miscellaneous
Project Name
Local Development Corp
Applicant
City of Roseville
Status
Approved
Date Final City Council Action
4/15/2003
Additional Information
Approval of Local Development Corp and election of officers
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<br />Rl'sevfbbE <br /> <br />Memorandum <br /> <br />Date: 01/28/02 <br />Local Development <br />Corporation <br /> <br />To: <br /> <br />Neal Beets, City Manager <br /> <br />Date: <br /> <br />Cathy Bennett, Economic Development Specialist ~ <br /> <br />January 23,2002 <br /> <br />From: <br /> <br />Description: Annual Meeting of the Local Development Corporation <br />January 28,2002 <br /> <br />1.0 BACKGROUND <br /> <br />1.1 The City's Local Development Corporation was formed in 1988 with the purpose of <br />securing Federal Housing and Urban Development (RUD) funds to establish a low <br />interest loan program specifically for Villa Park. The purpose of the loans is to provide <br />seniors with an alternative for financing the purchase of condominiums at Villa Park, <br />therefore making many of the units affordable. For the City to secure the RUD funds for <br />this purpose they were required to establish a Local Development Corporation (LDC). <br /> <br />1.2 The Council, as the Board of Directors of the LCD, is required to annually meet to elect <br />new officers. In addition, the LDC may call periodic meetings throughout the year as <br />needed. <br /> <br />1.3 The Board of Directors for 2001 consists of the following officers: <br /> <br />President: <br />Secretary: <br />Treasurer: <br />Secretary Designee: <br /> <br />John Goedeke <br />Barbara Mastel <br />John Kysylczyn <br />Dean Maschka <br /> <br />2.0 POLICY & FINANCIAL IMPLICATIONS <br /> <br />2.1 At this time there are no fiscal implications being considered under the LDC. The annual <br />meeting is being held for the sole purpose of electing new officers per the LDC Bylaws. <br />The officers of the corporation shall be a president, a secretary, a treasurer, and, if the <br />Board of Directors shall so elect, one or more vice presidents or other designees. <br /> <br />2.2 Per the requirements of the LDC Bylaws, public notice was posted regarding the annual <br /> <br />LDC Memo to Manager (012802) - Page 1 of 2 <br />
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