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CONSENT CALENDAR 10.A. REGULAR MEETING OF FEBRUARY 5, 2001 (Councilmember Bustamante abstained on this item) SECRETARY OF THE AUTHORITY POSTINGS Motion: Instruct Clerk to enter notice of posting into the Minutes 15.A. The February 5, 2001 Industrial Development Authority Agenda was posted on the door of the Council Chambers, 22 Civic Center Plaza, on February 3, 2001 at 5:00 p.m. * * END OF CONSENT CALENDAR * * JOINT SESSION BETWEEN THE INDUSTRIAL DEVELOPMENT AUTHORITY AND THE CITY COUNCIL OF SANTA ANA WORK STUDY SESSION W.S.A. Empowerment Zone Industrial Development Bonds - Community Development Agency Pat Whitaker, Executive Director, Community Development Agency briefed the Council relative to the two items on the Joint session between the City Council and the Industrial Development Authority. Highlights are as follows: . One of the incentives available to businesses within the Santa Ana Empowerment Zone is an allocation of $130 million for the issuance of Private Activity Bonds to qualified businesses . The Empowerment Zone has issued two prior bonds . The City has received applications from Cramer-Decker Industries requesting assistance in financing the acquisition of property located in the Empowerment Zone ( 1641 S1. Andrew Place), and from Memory Experts International requesting assistance in acquiring the property located in the Empowerment Zone (1651 S1. Andrew Place) . As a condition, 35 percent of the workforce for these industries must be Empowerment Zone residents . In addition to receiving approval by the Industrial Development Authority, the Tax Equity and Fiscal Responsibility Act (TEFRA) imposes public hearing requirements for tax-exempt bonds. . Before bonds can be sold, the Council must hold a public hearing INDUSTRIAL DEVELOPMENT AUTHORITY MINUTES 2 DECEMBER 20, 2004