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RDA Minutes 1 June 14, 2006 REDEVELOPMENT AUTHORITY of the City of Oshkosh MINUTES JUNE 14, 2006 Special Meeting 4:00 pm PRESENT: Thomas Belter, John Bermingham Jr., William Castle,
Steve Hintz, Robert Pung, Archie Stam EXCUSED: Sheldon Lasky STAFF: Jackson Kinney, Executive Director/Director of Community Development; Darlene Brandt, Recording Secretary The meeting
was called to order at 4:00 pm by Chairman Pung. Consent Agenda The minutes of May 3, 2006 were presented as written. Treasurer’s Report: Bills were presented in the amount of $57,956.47.
Secretary’s Report: None Motion by Stam.. Seconded by Belter. Motion carried by voice vote. Res. 06-17 Sale and Issuance of Redevelopment Revenue Obligation, Series 2006, Payment of
said Revenue Obligation and Other Related Details (Steve Hintz arrived at this time.) Mr. Kinney stated the final amount of the bonds is $6,360,000. The bonds were sold on June 13th
at a favorable rate. Also, the Common Council approved of the revenue obligation on the bond issue on June 13th at its regular meeting. The bonds will be used for redevelopment purposes
within TID 21 (Mr. Bermingham arrived at this time.) Mr. Kinney stated the City and RDA will cooperate in all aspects of bond sales and development within TID 21. Mr. Belter stated these
are not general obligation bonds. Mr. Kinney replied that is correct. The issuance of these lease revenue bonds will not affect the City’s debt limit. Mr. Hintz stated with funding of
capitalized interest, how much time does that permit for construction and/or improvements?
RDA Minutes 2 June 14, 2006 Mr. Kinney replied 2009. The RDA’s bond counsel felt we have sufficient time to redevelop the site by 2009 whether it is Five Rivers or someone else. The
time frame is crucial to be able to move forward with redevelopment within TID 21. Motion by Belter to move approval of Res. 06-17 Seconded by Castle. Mr. Bermingham inquired if the
RDA approval after Council approval is backward? Mr. Kinney replied that per bond counsel, the City needs to approve its revenue obligation on the bonds prior to the RDA’s action. Roll
call was taken. Motion carried 6-0. There being no further business, the meeting adjourned at approximately 4:12 pm. Respectfully submitted Jackson Kinney Executive Director/Director
of Community Development