HomeMy WebLinkAboutMinutes - Minutes - Industrial Development Authority - Meeting Date: 3/18/2009 MINUTES OF SPECIAL MEETING
• OF THE BOARD OF DIRECTORS OF
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE,ARIZONA
(March 18, 2009)
A Special Meeting of the Board of Directors of The Industrial Development
Authority of the City of Glendale, Arizona (the "Authority") was duly called and held on
Wednesday, March 18, 2009, at 4:00 p.m. in Conference Room A, Sine Building, City of
Glendale Municipal Offices, 6829 North 58th Drive, Glendale, Arizona.
The following Directors of the Authority were present at the meeting: Howard A.
McKenna, John Catledge, and Stephen P. Hamden, Directors Darren L. Whitehurst and Ventura
"Ben" Lopez were absent. Howard A. McKenna, President of the Authority, presided at the
meeting and Stephen Hamden sewed as Secretary at the meeting. Mr. Catledge left the meeting
at approximately 5:00 p.m.
Also present was William F. Wilder legal counsel to the Authority; Dave
McAlindin of the City of Glendale Economic Development Department; Robert Banovac and
Rob Banovac, representatives of RPL Development Group and Gill M. Olguin, Sr. and Roscoe
A. Woods, representatives of OCS Capital Group.
Mr. McKenna advised that the meeting had been called for the purpose of
permitting representatives of RPL Development Group to make an informal presentation to the
Authority Board with regard to the proposed Main Street Project and the possibility of the
Authority assisting in financing all or portions of the proposed project with proceeds of taxable
bonds.
Robert Banovac gave an overview of the Main Street Project and Messrs. Olguin
and Woods, who advised that they were serving as bond consultants to RPL Development
Group, discussed the possible use and structure of taxable bond financing, in an amount that
would be in excess of$900,000,000.
No action was taken by the Board.
The meeting was adjourned at 5:20 p.m.
Secre ary
109209.1