HomeMy WebLinkAbout10831RESOLUTION NO. 10831
A RESOLUTION APPROVING A JOINTLY APPOINTED DIRECTOR
TO THE PUEBLO MAIN STREET GARAGE CORPORATION
WHEREAS, one director of the Pueblo Main Street Garage Corporation, a Colorado Non -
Profit Corporation, shall be appointed by joint consideration of the Urban Renewal Authority of
Pueblo and the City of Pueblo,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
Jack Quinn is hereby appointed to serve on the Pueblo Main Street Garage Corporation, a
Colorado Non - Profit Corporation, as the jointly appointed director and shall continue serving for a
term as set forth in the bylaws of the corporation.
INTRODUCED October 10, 2006
BY Randy Thurston
Councilperson
APPROVED:
President of Cit Council
ATTESTED BY:
CITY CLERK
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: OCTOBER 10, 2006
DEPARTMENT: COMMUNITY DEVELOPMENT /JIM MUNCH
PLANNING DEPARTMENT /JIM MUNCH
TITLE
A RESOLUTION APPROVING A JOINTLY APPOINTED DIRECTOR TO THE PUEBLO
MAIN STREET GARAGE CORPORATION
ISSUE
Should City Council appoint a director to serve as the jointly appointed director to the
Pueblo Main Street Garage Corporation?
Approve the Resolution.
BACKGROUND
The Pueblo Main Street Garage Corporation is a Colorado Non - Profit Corporation
formed for the purpose of serving as the Qualified Active Low Income Community
Business (QALICB), under the New Market Tax Credit Structure, which will be the
financing mechanism for the construction of the Main Street Public Parking Facility.
The non - profit will exist for a seven -year period. The Board is composed of one
director appointed by the Urban Renewal Authority of Pueblo (URAP), one director
appointed by the City of Pueblo (City), and one director appointed by joint
consideration of the URAP and the City.
Jack Quinn will serve as the joint appointee.
FINANCIAL IMPACT
None.