Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Facility Corporation topic
No spam. Unsubscribe anytime.
Trustees debate Public Facility Corporation appointments after PFC presentation
Summary
Legal counsel and outside presenters briefed trustees on a proposed Public Facility Corporation and its powers; trustee nominations for the PFC produced a failed vote and a subsequent motion replacing nominees that passed after recorded roll-call votes.
Representatives from Cantu Harden Montoya LLP presented an introduction to Public Facility Corporations (PFCs), outlining that a PFC can issue bonds, own projects, and enable ad valorem tax exemptions for workforce housing developments. The presentation noted potential developer fees (for example, a $300,000 upfront developer fee and percentage participation of tax savings) and described a risk-shifting structure in which the private partner would assume construction and operational risk.
On Aug. 28 trustees considered nominations to the PFC board. An initial motion to appoint Shannon Parr failed on recorded roll-call votes. A subsequent motion to appoint trustees Patsy Mendoza and Monica Cazares to the PFC board passed (Barnes—Yes; Borrego—Yes; Mendoza—Abstain; Rodriguez—Yes; Simental—Yes; Trout—Yes; Zuniga—Yes). The vote and discussion are recorded in the meeting minutes; trustees asked for clarity about membership composition and conflicts of interest before making the appointments.
