HomeMy WebLinkAboutR5- Economic Development ECONOMIC DEVELOPMENT AGENCY Co[dF
VVI-
OF THE CITY OF SAN BERNARDINO
REQUEST FOR COMMISSIONLCOUNCILACTLON
FROM: TIMOTHY C. STEINHAUS SUBJECT: ADDITIONAL FUNDING FOR
Agency Administrator SAN BERNARDINO AIRPORT
IMPROVEMENTS
DATE: September 11, 1996
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Synopsis of Previous Commission/Council/Committee Action(s):
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Recommendesl_Alotion(s): ,
(Mayarand-Com mon-C Council)
MOTION A: RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO,CALIFORNIA,REAFFIRMING RESOLUTION NO. 96-82 IN
CONNECTION WITH THE COMMITMENT OF THE AGENCY TO PROVIDE A
GUARANTY OF A CERTAIN OBLIGATION OF THE CITY OF SAN
BERNARDINO.
(Community-Develo pinent_Commission)
MOTION B: RESOLUTION OF THE COMMUNITY DEVELOP ENT COMMISSION OF THE
CITY OF SAN BERNARDINO CALIFORNIA, REA .FIRMING RESOLUTION NO.
5484 IN CONNECTION WITH ITS COMMITMEN O PROVIDE A GUARANTY
OF A CERTAIN OBLIGATION OF THE CITY OF S N BERNARDINO.
TIMOTH V C. STEINHAUS
Agency Administrator
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Contact Person(s): Timothy C. Steinhaus__ Phone: _ _ 5081
Project Area(s): N/A _ _-_ Ward(s): _-__ ___N/A_
Supporting Data Attached: Staff Report;Resolutions
FUNDING REQUIREMENTS: Amount: S N/A Source: _N/A
Budget Authority: None_
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Commission/Council Notes:
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TCS:lmp:aprt.cdc COMMISSION MEETING AGENDA
MEETING DATE: 09/16/1996
Agenda Item Numberx
— Res 96- �
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
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Additional Fundingtor-,SanBernardino Mrport_Impr(wenLentsl
Background
The City Council as a member of the San Bernardino International Airport Authority ("SBIAA")
has agreed to guarantee a portion of certain Notes issued by the SBIAA for the purposes of
providing operating costs of the SBIAA to: (i) undertake public improvement projects to gain
better access to the aviation portions of the former Norton Air Force Base (the "SBD Airport")
and(ii) upgrade the aviation facilities located on the SBD Airport (the "Improvements") by
contributing local matching funds together with Federal grant funds.
On April 1, 1996, the Community Development Commission (the "Commission") made certain
findings and determinations as to the benefits the Improvements will have on or near the Agency
Redevelopment Project Areas. In addition, the Commission agreed to provide funds to the City
to repay the City's guarantee of the Notes.
The Notes will be issued on September 30, 1996. On September 9, 1996, the City reaffirmed its
commitment to repay the Notes. We believe at this time the Agency should also reaffirm its
commitment to provide funds to the City for the purposes outlined herein.
Based pon t e foregoing, staff recommends adoption of the form resolutions.
TIMOTH C. STEINHAUS
Agency Administrator
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TCS:lmp:aprt.cdc COMMISSION MEETING AGENDA
MEETING DATE: 09/16/1996
Agenda Item Number: