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'or a recommendation, Chairperson Rouse recognized a favorable motion from <br />nember Puzzello followed by a second from Catherine Andres which was then suc <br />78-09 -Supplementing Economic Development Revenue Bonds for PEI/Genesis <br />dbaum, Attorney for PEI/Genesis, and Larry Horvath, Plant Manager, explained the <br />for approval. Essentially, the city would continue to act as a conduit without financ <br />~r issuance of the tax free bonds. PEI/Genesis would benefit by a lower interest rs <br />'rm. This was due to the Federal Home Loan Bank signing on as a guarantor of th <br />All of this required an amendment to the bond documents which needed Council <br />'son Rouse accepted a favorable recommendation from Councilmember Puzzello <br />by Catherine Andres second which was approved by all. <br />)9-64 -Personal Property Tax Abatement -1400 Riverside Dr. -Steel Warehouse <br />hia at the Chair's request reported the details of the request by Steel Warehouse. <br />city and Economic Development Department's findings indicate Steel Warehouse <br />for a five (5) year personal property tax abatement for the acquisition of new mace <br />erman, President of Steel Warehouse gave a detailed explanation of the manufact <br />ently, Councilmember White moved the bill be sent favorably. Catherine Andres <br />d and all affirmed. <br />iscellaneous matters, Committee Member Henry Davis, Jr, asked about the status <br />hood Stabilization Program. <br />son Rouse said a report from Pam Meyer was due on October 19, 2009. A Comm <br />comic Development Committee meeting would be scheduled on October 26, 2009 <br />e report. <br />ing no further business to come before the Committee at this time, Chairperson Rc <br />d the meeting at 4:25 p.m. <br />ully Submitted, <br />