HomeMy WebLinkAbout2011-12-14 e-packet (2) o ��x st CAPITAL IMPROVEMENT FINANCING
. R AUTHORITY
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OF THE
cA l� CITY OF SOUTH SAN FRANCISCO
P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
Meeting to be held at:
MUNICIPAL SERVICES BUILDING
CITY COUNCIL COMMUNITY ROOM
33 ARROYO DRIVE
WEDNESDAY, DECEMBER 14, 2011
6:55 P.M.
NOTICE IS HEREBY GIVEN, pursuant to Section 54956 of the Government Code of the
State of California, the Capital Improvement Financing Authority of the City of South San Francisco
will hold a Special Meeting on Wednesday, the 14 day of December, 2011, at 6:55 p.m., in the
Municipal Services Building, Community Room, 33 Arroyo Drive, South San Francisco, California.
Purpose of the meeting:
1. Call to Order.
2. Roll Call.
3. Public Comments.
4. Motion to approve the minutes of December 8, 2010.
5. Adjournment.
.sta Joy -einel
City Clerk
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'�LIFOR�IA St af f e p ort
DATE: December 14, 2011
TO: Capital Improvement Financing Authority Members
FROM: Jim Steele, Director of Finance
SUBJECT: ANNUAL CAPITAL IMPROVEMENT FINANCING AUTHORITY MEETING
RECOMMENDATION
It is recommended that the City Council, acting in the capacity of the Capital Improvement
Financing Authority, approve the minutes from the meeting dated December 08, 2010.
BACKGROUND/DISCUSSION
From time to time, cities find it expeditious to form non - profit corporations and/or Joint Powers
Authorities in order to facilitate various public financing arrangements. Under those circumstances,
the City Council acts as a separate body, acting as the Board of Directors for each of those corporate
bodies in the same way it also acts as the Redevelopment Agency Board. On an annual basis, the
City Council, acting as the Board of Directors for each of those corporate bodies is required to meet
and take action. The purpose of this memo is to facilitate the annual meeting of the Capital
Improvement Financing Authority.
This Authority was set up as a Joint Powers Authority on September 11, 1991 between the City and
the Redevelopment Authority. Its existence allows the City to enter into more advantageous
financing arrangements than it otherwise could.
FUNDING
There is no fiscal impact from approving staff s recommended action.
CONCLUSION
Annual meetings are required for the Capital Improvement Financing Authority. Minutes from last
year's meeting are attached.
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Prepared by: 111 I ' <�► Approved by C,2S--- `-
Jim . eele 8 . Nagel
Finance Director City Manager
Attachment: Minutes
JS/BN:ed
VIIIMINIMI■VONVOINNOMOON. .1111•••••••10,
MINUTES . 44 `i 4
CAPITAL IMPROVEMENT FINANCING
AUTHORITY
a hmrm 9 OF THE
CITY OF SOUTH SAN FRANCISCO
` V P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
MUNICIPAL SERVICES BUILDING
CITY COUNCIL COMMUNITY ROOM
33 ARROYO DRIVE
WEDNESDAY, DECEMBER 8, 2010
6:55 P.M.
1. Call to Order. 7:00 p.m.
2. Roll Call. Boardmembers Addiego, Gonzalez,
and Matsumoto, Vice Chairman
Garbarino, Chairman Mullin.
3. Public Comments. None.
4. Motion to approve the minutes of December 9, 2009.
Motion — Boardmember Gonzalez /Second — Boardmember Addiego: to approve the minutes of
December 9, 2009. Unanimously approved by voice vote.
5. Adjournment.
Being no further business, Chairman Mullin adjourned the meeting at 7:01 p.m.
Submitted: Approved:
Krist:Joartin:ill', Clerk Richard A. Garbarino, Chairman
City of S uth Sa• Francisco City of South San Francisco