Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Newark council backs resolution supporting tax-exempt loan for Crystal Center community project
Summary
Council voted 6-0 to approve a resolution expressing municipal support for a tax-exempt loan to help finance a new Crystal Center for Jewish Life at University of Delaware. The resolution is a statement of support only and does not obligate the city financially, staff said.
The Newark City Council voted unanimously Oct. 20 to approve a resolution supporting the issuance of a tax-exempt loan by the Colorado Educational and Cultural Facilities Authority on behalf of the Crystal Center for Jewish Life at the University of Delaware.
Renee Bensley, director of planning and development, told council the Crystal Center plans to demolish an existing building and construct a new two-story community center with associated parking. She said prior approvals included an administrative subdivision to consolidate three parcels and Board of Adjustment variances to reduce off-street parking requirements and to increase maximum lot coverage. Bensley noted the project is now in the lines-and-grades and building-permit review processes.
Bensley said the authority's financing program requires a resolution of support from the elected jurisdiction where the facility is located. She emphasized the resolution does not obligate Newark financially: "It does not in any way obligate our the city to the financing itself. It doesn't affect our credit or anything of that nature. This is simply a resolution saying that we support them receiving that bond financing."
Donna Schwartz of the Crystal Center and Fred Marienthal of Kutak Rock, legal counsel for the Colorado Educational and Cultural Facilities Authority, joined the meeting online to answer questions.
Council approval and vote
The council approved the resolution by a 6-0 vote. The meeting record shows the roll-call: Councilwoman Ford — Aye; Councilman Bancroft — Aye; Councilman Brown — Aye; Councilman Sahinick — Aye; Councilwoman Hadden — Aye; Mayor Travis McDermott — Aye. No council member voted against or abstained.
What the vote means
City staff said the resolution is a statement of elected-official support required by the financing program and does not create a debt or credit obligation for the city. The Crystal Center must still complete city land-use and building-review processes required by Newark's codes before construction may begin.
