To: Honorable Mayor and Members of City Council
From: Brian Cochran, Finance Director
Prepared By: Carlyce Banayat, Imaging Clerk
TITLE:
Title
Formation of the City of Napa Industrial Development Authority
LABEL
RECOMMENDED ACTION:
Recommendation
Approve the second reading and final passage, and adopt an ordinance forming the City of Napa Industrial Development Authority.
Body
DISCUSSION:
This is the Second Reading and final Adoption of an Ordinance forming the City of Napa Industrial Development Authority. The introduction and First Reading was held at the Regular City Council meeting on August 21, 2018. If approved, the Ordinance will become effective thirty days following adoption.
FINANCIAL IMPACTS:
The City Council will act as the IDA Board of Directors. City employees will perform similar services for the IDA. Formation of the IDA will involve modest costs associated with additional recordkeeping and reporting.
CEQA:
The Finance Director has determined that the Recommended Action described in this agenda report is not subject to CEQA, pursuant to CEQA Guidelines Section 15378(b)(4).
DOCUMENTS ATTACHED:
ATCH 1 - Ordinance
NOTIFICATION:
Legal notice of public hearing was published in the Napa Valley Register at least ten days prior to the hearing date.