1992/03/03 Community Development Agency Minutes COMMUNITY DEVELOPMENT AGENCY
OF
THE CITY OF ROHNERT PARK
MINUTES
March 3, 1992
The members of the Community Development Agency of the City
of Rohnert Park met this date immediately after the City
Council adjourned regular meeting at approximately 8:00 p.m.
in the City Offices , 6750 Commerce Boulevard, Rohnert Park,
with Vice Chairman Hollingsworth presiding.
Call to Order Vice Chairman Hollingsworth called the meeting of the
Community Development Agency of the City of Rohnert Park to
order at approximately 8: 00 p.m.
Roll Call Present: (4) Agency Members Eck, Hopkins, Reilly and
Vice Chairman Hollingsworth
Absent: ( 1) Chairman Spiro
Staff present for all or part of the meeting: Executive
Director/Secretary Netter.
The Executive Director/Secretary's report on the posting of
the agenda was acknowledged.
Unscheduled None.
Public Appearances
Qualified Executive Director Netter provided a staff report and summary
Mortgage Credit regarding the Mortgage Credit Certificate Program and
Certificates presented Resolution No. 92-01 authorizing application to the
California Debt Limit Allocation Committee to permit the
issuance of qualified Mortgage Credit Certificates within the
City of Rohnert Park.
Agency Member Eck inquired about the $100,000 deposit and if
the City did not issue a Mortgage Credit Certificate whether
the $100, 000 would be returned. Executive Director Netter
indicated that it was not known at the time that $ 100,000
would have to be deposited, but this is a requirement for
submitting the application. He also indicated that, as
stated in the Resolution, the $100,000 would not have to be
forfeited if at least one ( 1) Mortgage Credit Certificate was
issued. Mr. Netter indicated that he would do some more
research in the matter and report to the Agency at its next
meeting. He indicated that if the Agency Members feel
uncomfortable with the $100,000 deposit that the application
could be pulled and there would be no lost funds . He also
indicated this matter is on tonight' s agenda because the
application deadline for filing is March 10, 1992.
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Community Development Agency of the City of Rohnert Park
March 3, 1992
The Agency Members also inquired if the Mortgage Credit
Certificates could be restricted to Rohnert Park residents.
Executive Director Netter indicated he did not think so but
would research that information.
Upon motion by Agency Member Hopkins, seconded by Agency
Member Reilly, and unanimously appproved, Resolution No. 92-
01 was approved.
Adjournment There being no further matters to be discussed, Vice Chairman
Hollingsworth adjourned the meeting at approximately 8:20
p.m.
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Vice Chairman
Execu ive irector/Secretary
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