HomeMy WebLinkAbout1991-08-13 - AGENDA REPORTS - SC PUBLIC FINANCING AUTHORITY (2)A1JW0-1iN44*S1
DATE: August 13, 1991
AGENDA REPORT
City Manager Approval
Item to be presented b .
George Caravalho
SUBJECT: Santa Clarita Public Financing Authority/
Acquisition of City Hall Building
DEPARTMENT: City Manager
BACKGROUND
At the last Council meeting in June of this year, the City Council and the
City's Redevelopment Agency jointly exercised their powers to form the Santa
Clarita Public Financing Authority. The Public Financing Authority (PFA) was
formed primarily to facilitate the financing of various capital improvements and
projects.
Since the formation of the PFA, staff has worked to formulate the plan for
financing those City projects which will be best served by the PFA Bond Pool.
These include major street and road construction and the acquisition of City
Hall. Staff will provide more specific information on the acquisition and
financing of the City Hall building.
RECOMMENDATION
Staff recommends that the Council receive this information, provide staff
direction, and continue to 'the meeting of August 27, 1991 for approval of PFA
Consultants and further development of the financing.