Official Web Site of the City of Phoenix

NOTICE OF RESULTS

COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION GOVERNING BOARD

AND ITS SUBSIDIARY COMMUNITY DEVELOPMENT ENTITYS

Pursuant to A.R.S. Section 38-431.02, notice is hereby given to the members of the PHOENIX COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION (“PCDIC”) and to the general public, that the PCDIC held a meeting, open to the public on November 25, 2008, at 11:30 a.m. located in East Conference Room, 20^th Floor, Phoenix City Hall, 200 W. Washington, Phoenix, Arizona.

 

As indicated, Board may vote to convene in executive session, which will not be open to the public, on one or  more of the agenda items listed below to consult with PCDIC’s attorney for legal advise and to consider and to instruct PCDIC’s attorney regarding PCDIC’s position regarding contracts that are the subject of negotiations, in pending or contemplated litigation, or in settlement discussions conducted in order to avoid or resolve litigation.

 

One or more board members may participate via teleconference.  Agenda items may be taken out of order.

 

The results of the meeting were as follows:

RESULTS
MADE	1.	Call to Order	Bob Wingenroth, Chairman
MADE	2.	Introduction of Members and Guests:	Bob Wingenroth, Chairman
APPROVED	3.	Approval of Board Minutes:  September 24,2008 Board Meeting November 4, 2008 Board Meeting November 10, 2008 Board Meeting These items are for information, discussion and action	Bob Wingenroth, Chairman
MADE	4.	Update on CA-TEL Loan (PCDIC Board acts as the Governing Board of both PCDIC and Phoenix Development & Revitalization II, LLC, the subsidiary CDE/Lender): The Board may vote to convene in Executive Session to discuss this matter pursuant to A.R.S. §§ 38-431.03(A)(3) and (A)(4) This item is for information and discussion	Roberto Franco, Vice-Chairman
MADE AND APPROVED	5.	Update on PDR, LLC Loans (PCDIC Board acts as the Governing Board of both PCDIC and Phoenix Development & Revitalization, LLC, the subsidiary CDE/Lender): ADVO Loan Riverside Loan ·        The Board may vote to convene in Executive Session to discuss these matters pursuant to A.R.S. §§ 38-431.03(A) (3) and (A) (4). If a decision is requested, the Board may decide the matter in the public meeting or defer the decision to a later date. This item is for information, discussion and action	Roberto Franco, Vice-Chairman
APPROVED	6.	Approval of PCDIC Financial Services Contract: This item is for information, discussion and action	Roberto Franco, Vice-Chairman
APPROVED	7.	Legal Advisor Contract Extension: This item is for information, discussion and action	Roberto Franco, Vice-Chairman
ITEMS A-D APPROVED	8.	PCDIC Small Business Programs: Youth Career Exploration & Internship Program Access to Capital Academy Microloan Program PCDIC Working Capital Leverage Fund Program These items are for information, discussion and action	Roberto Franco, Vice-Chairman and Michelle Pierson, Deputy CED Director
CONTINUED TO NEXT MEETING	9.	Update on Status of 2008 NMTC Allocation This item is for information and discussion	Roberto Franco, Vice-Chairman
CONTINUED TO NEXT MEETING	10.	Update on IRS Audit of PDR LLC, managed by PCDIC: This item is for information and discussion	Karen Leone, NMCT Financial Manager
CONTINUED TO NEXT MEETING	11.	Update on Status of Subsidiary CDEs: Phoenix Development & Revitalization, LLC Phoenix Development & Revitalization II, LLC Phoenix Development & Revitalization III, LLC Phoenix Bioscience Development Company, LLC These items are for information and discussion	Roberto Franco, Vice-Chairman
CONTINUED TO NEXT MEETING	12.	Future Board Meetings: The board will set the date, time and place for one or more future board meetings. This item is for information, discussion and action	Roberto Franco, Vice-Chairman
MADE	13.	Adjournment	Bob Wingenroth, Chairman

 

For further information, please call Kathya Hidalgo, Economic Development Specialist, Community and Economic Development Department at 602-262-5039.

 

Persons with a disability may request reasonable accommodation, such as a sign language interpreter.  For reasonable accommodations, call Mary Magewick at Voice/602-261-8013 or TTY/602-534-3476 as early as possible to coordinate needed arrangements.

 

November 21, 2008