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REQUEST FOR COUNCIL/ INDUSTRIAL <br />DEVELOPMENT AUTHORITY ACTION <br />IDA MEETING DATE: SECRETARY USE ONLY: <br />AUGUST 20, 2007 <br />TITLE: <br />PUBLIC HEARING - BOND ALLOCATION FOR <br />INGARDIA BROS. PRODUCE, INC. <br />APPROVED <br />As recommended <br />.:; As recommended <br />S As Amended <br />Implementation Resolution <br />G Set Public Hearing For_ <br />~~ <br />CITY MANAGER EXECUTIVE DI ECTOR EUTIVE DI ECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CONTINUED <br />TO <br />FILE <br />NUMBER <br />Adopt a resolution approving the Industrial Development Authority of the <br />City of Santa Ana entering into a loan in a principal amount not to exceed <br />$2.5 million of the Santa Ana Empowerment Zone allocation for Private <br />Activity Bonds to Ingardia Bros. Produce, Inc. to finance the acquisition <br />and installation of equipment for a new facility within the Federal <br />Empowerment Zone. <br />INDUSTRIAL DEVELOPMENT AUTHORITY <br />Adopt a resolution authorizing entering into a loan agreement pursuant to <br />which the Authority will borrow and lend to borrower not to exceed $2.5 <br />million of the Santa Ana Empowerment Zone allocation for Private Activity <br />Bonds to Ingardia Bros. Produce, Inc. to finance the acquisition and <br />installation of equipment for a new facility within the Federal Empowerment <br />Zone. <br />SANTA ANA EMPOWERMENT CORPORATION BOARD ACTION <br />At its meeting of July 25, 2007, by a vote of 10:0 (Absent: Bacigalupo, <br />Cong, Fogarty, Garcia, E. Martinez, Metzler, Ream, Reyna, Russo, Sidler), <br />the Santa Ana Empowerment Corporation Board made the following <br />recommendations: <br />1. Recommended that the City Council adopt a resolution approving the <br />Industrial Development Authority of the City of Santa Ana entering into a <br />80D-1 <br />