09-23-02 Community & Economic Development

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$100,000,and the interest rate of 2.5%-3%will save the City another$100,000 over regular lending rates during the life of the loan. Ms. Kolata also stated that the intent is to obtained maximum flexibility by use of COIT funds. Council/Committee Member Varner again expressed his concern about the effect of this arrangement on the tax levy. Council/Committee Member King stated that the real purpose of this resolution is to move this loan along under IDEM's timetable. The Committee voted unanimously to send Bill 02-75 to the full Council with a favorable recommendation. Larry Magliozzi and George Adler, on behalf of the City's Community Development Division of the Community and Economic Development Department provided all members of the Committee with a draft copy of the City Plan. They also distributed three short articles issued by the Brookings Institute concerning City Planning's effect on the housing market, urban sprawl's relationship to urban decline,and coping with"nearly insoluble"problems. Mr.Magliozzi explained 111, that the City plan was prepared based on past surveys submitted to City residents in which residents were invited to list issues of concern to them. Committee Chair Karl King asked whether the Community Development Division would like the Council to provide feedback on the plan and Mr. Magliozzi stated that that was the administration's request. Committee/Council Member Varner noted that the Brookings Institute is a"liberal think tank"and that he would appreciate another point of view on the issues presented. He further noted that urban sprawl is a very generic topic. Larry Magliozzi and George Adler agreed to provide other materials with perhaps alternative viewpoints. 3 There being no further business to come before the Committee,Chairperson King adjourned the meeting. Respectfully submitted, Karl King, Chairperson Community and Economic Development Committee