Notes of Special Commission Meetings of May 30

On May 30, the City Commission held 4 meetings special meetings on a variety of areas. Since the regular Commission Meeting of May 28 was cancelled, due to Memorial Day, and to satisfy certain other business requirements, the need for these special meetings were needed because they could not wait until the next regular meeting on June 11. The following is a summary of matters of interest at each meeting:

Meeting #1: Workshop on Allocation of CDBG Funds. Discussion was on whether or not to consider using CDBG Funds to leverage a 108 Loan. The purpose was to purchase property, repair it, and then eventually sell the property. There were concerns that were brought up, including to what extent the monies would be leveraged, what funds will be available, what properties could be purchased, what are the specifics of the business plan, and how monies would be replace, if any, for programs that the city presently use those funds for, since they will no longer be available. Consensus was to pursue leveraging of those funds, but the details would be addressed later.

Meeting #2: Special Commission Meeting to authorize the Mayor to sign letters on behalf of the City and Commission concerning the upcoming special session of the legislature concerning property tax reform. These letters would be sent to local businesses and civic groups explaining the fiscal results that the city would be faced with. The Commission approved the letters subject to incorporating comments of the Commissioners and cleaning up the language on the draft provided.

Meeting #3: Special Commission Meeting to address the following matters:

a) Approved an Emergency Ordinance to provide a quit claim deed to permit the moving forward on the Broward County Regional Park (both first and second readings were held);

b) Granted a Variance to Inverrary Falls LLC to the setback requirement of the 8' high concrete wall;

c) Approved on first reading the Certificates of Participation for the City Hall Project.

Meeting #4: Following the approval of the Certificate of Participation (COP) to proceed with the financing of the new City Hall, the City Commissioners met as the newly formed Lauderhill Finance Corporation and approved:

a) Organizational meeting, ratifying all prior actions, approving the Articles of Incorporation, election of Directors, and adoption of By-laws;

b) Approved the execution of a ground lease, Lease Purchase Agreement, Certificate Purchase Agreement, obtaining a commitment for issuance of a municipal bond insurance policy securing the COP, approving a Preliminary Offering Statement, Final Offering Statement, Continuing Disclosure Certificate and Trust agreement in furtherance of the COP for the City Hall project.