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Staff Report to Redevelopment Commission <br />Crowe Horwath Project Assignment — Bond Refunding <br />Prepared 9/22/11 <br />Attached is a Project Assignment from Crowe Horwath for the issuance of two refunding <br />bonds. One is to refund Airport TIF bonds originally issued in 2003 and the other is to <br />refund a Downtown TIF bond issued in 2003. It is anticipated the refunding bonds would <br />be issued at lower interest rates than the original bonds, thus creating a savings for <br />Redevelopment. The maturity date of the refunding bonds would match the maturity date <br />of the original bonds. <br />Crowe Horwath's fee for providing the listed financial consulting services is $25,000 <br />plus out of pocket costs. Staff recommends approval of the Project Assignment. <br />