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CITY COUNCIL, <br />HOUSING AUTHORITY, AND <br />COUNCIL/AGENCY <br />MEMBERS <br />LSUCCESSOR AGENCY TO <br />w REDEVELOPMENT AGENCY <br />MINUTES <br />TUESDAY, APRIL 24, 2012, 2 P.M. <br />ART PICK COUNCIL CHAMBER, CITY HALL <br />3900 MAIN STREET <br />/ TELECONFERENCE <br />MARRIOTT CRYSTAL GATEWAY <br />City AYtS 8L InnovQtlOn 1700 JEFFERSON DAVIS HIGHWAY, ROOM NO. 619 <br />f ARLINGTON, VA 22201 <br />951-826-2379 WARDS <br />G <br />A <br />D <br />N <br />E <br />R <br />1 <br />M <br />E <br />E <br />N <br />D <br />R <br />Z <br />2 <br />B <br />A <br />L <br />E <br />Y <br />3 <br />D <br />A <br />I <br />S <br />4 <br />M <br />A <br />C <br />A <br />R <br />T <br />U <br />R <br />5 <br />H <br />A <br />T <br />6 <br />A <br />D <br />M <br />S <br />7 <br />Roll Call: <br />Present <br />A <br />X <br />X <br />X <br />X <br />X <br />A <br />Mayor Loveridge called the meeting to order at 2 p.m. with all <br />Councilmembers present except Councilmembers Gardner and Adams. <br />PRESENTATION <br />President/CEO Cindy Roth discussed the Greater Riverside Chambers of <br />Commerce and its relationship to the City of Riverside and answered <br />questions from the Mayor and City Council. <br />PUBLIC HEARING <br />CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY <br />BONDS - CALIFORNIA BAPTIST UNIVERSITY- RESOLUTION <br />Hearing was called on behalf of California Baptist University (CBU) to <br />facilitate access to tax exempt financing through the California Statewide <br />Communities Development Authority (CSCDA) for the acquisition and <br />construction of a student housing development to be owned and operated by <br />Colony Student Housing, LLC (Colony) and the construction of certain <br />educational buildings to be owned and operated by California Baptist <br />University (CBU). Two people spoke on the matter. One letter was <br />presented and considered. The public hearing was officially closed. <br />Following discussion, the City Council adopted a resolution approving the <br />issuance of not -to -exceed $40,000,000 of tax exempt debt by the CSCDA for <br />acquisition and construction of student housing and costs associated with the <br />construction of education buildings for the benefit of Colony and CBU; <br />whereupon, the title having been read and further reading waived; <br />Resolution No. 22373 of the City Council of the City of Riverside Approving a <br />Tax -Exempt Bond Financing to be Issued by the California Statewide <br />Communities Development Authority in an Aggregate Principal Amount not to <br />Exceed $40,000,000 for the Purpose of Financing and/or Refinancing the <br />Costs of Acquisition of a Student Housing Development and Construction of <br />Certain Educational Facilities and Related Matters, for the Benefit of <br />Motion <br />X <br />California Baptist University, Lancer Educational Housing Corporation and <br />Second <br />X <br />Certain Affiliates, was presented and adopted. <br />All Ayes <br />ORAL COMMUNICATIONS FROM THE AUDIENCE <br />Rebecca Ludwig spoke regarding public comments. Vivian Moreno spoke <br />regarding the Greater Riverside Chambers of Commerce. Karen Wright <br />spoke regarding the Greater Riverside Chambers of Commerce, the <br />Convention Center, and hotels. <br />97-265 <br />