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<br />REQUEST FOR COUNCIL/INDUSTRIAL <br />DEVELOPMENT AUTHORITY ACTION <br /> <br />IDA MEETING DATE: <br /> <br />AUGUST 20, 2007 <br /> <br />TITLE: <br /> <br />SECRETARY USE ONLY: <br /> <br />APPROVED <br /> <br />PUBLIC HEARING - BOND ALLOCATION FOR <br />INGARDIA BROS. PRODUCE, INC. <br /> <br />D As recommended <br />D As recommended <br />D As Amended <br />D Implementation Resolution <br />o Set Public Hearing For <br /> <br />c(,. <br /> <br />Vila )jDiJ;" <br /> <br />CITY MANAGER EXECUTIVE DIRECTOR <br /> <br />CONTINUED <br />TO <br /> <br />FILE <br />NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />CITY COUNCIL <br /> <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 /> <br />INDUSTRIAL DEVELOPMENT AUTHORITY <br /> <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 /> <br />SANTA ANA EMPOWERMENT CORPORATION BOARD ACTION <br /> <br />At its meeting of July 25, 2007, by a vote <br />Cong, Fogarty, Garcia, E. Martinez, Metzler, <br />the Santa Ana Empowerment Corporation <br />recommendations: <br /> <br />of 10: 0 (Absent: Bacigalupo, <br />Ream, Reyna, Russo, Sidler), <br />Board made the following <br /> <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 /> <br />p,2 <br />