Council Okays Bond for Housing Improvements

Thursday, October 29, 2015 Written by 
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At Tuesday’s council meeting, Mayor James Butts re-enforced the rules for speaking about financial matters.  Public comments at the beginning are limited to the warrant registry or checks issued or received by the City.  General finances may be discussed at the end of the meeting.

 

A public hearing was held to receive public comments on the issuance of tax-exempt revenue bonds by the California Public Finance Authority.  The bonds will finance the acquisition and rehabilitation of the 40-unit Pacific Rim Apartments at 230 S. Grevillea Ave.

 

Community Development Grants Coordinator Damian Pipkins gave the presentation.  “They are apartments that are for disabled, senior and lower income persons.  The building was built in 1992 and it needs some renovation such new flooring, electrical, and compliance issues.” The work will not be paid for by City of Inglewood funds. 

 

Diane Sombrano wanted to know how much money was being administered for the project.  Gil Mathieu wanted to know if there is an obligation on the City’s part to service the bonds.

 

Councilman Ralph Franklin said the principal amount is $5 million.   “Bonds are payable solely by the Pacific Rim Preservation.  It is not on the City’s dime,” he said.  

 

“This has nothing to do with the City borrowing money or building anything.  It’s a process for the loan to go forward.  We get to benefit for the rehab of this building for our seniors,” Mayor Butts said. 

 

The council voted to deny personal and property injury claims and one case of alleged illegal towing.  The 2015-16 Fiscal Year budget will be amended to carryover encumbrances (purchase orders) from prior fiscal years. 

 

“Pathways to Success,” the three-dimensional mural located along three exterior walls at Rogers Park was approved for acceptance into the City’s Public Art Collection.

 

Inglewood’s Drug and Alcohol Policy will be updated to comply with the Federal Drug and Alcohol Testing Program administered by the Los Angeles County Metropolitan Transportation Authority.

 

Councilman Franklin got the green light to host his annual Christmas Toy & Food Drive in District 4.

 

The West Basin Municipal Water Festival celebrated its 20 year anniversary last weekend.  Councilman George Dotson accepted an award from West Basin on behalf of Mayor Butts, which he presented it to Butts at the meeting. 

 

 

 

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