Board of Aldermen 2-12-2020 Page 12
President Wilshire
Thank you. Further discussion on the amendment?
Alderman Lopez
| mean | have to point out similar concerns that it doesn’t matter whether we go with the Golden Rod Copy
or the Blue Copy if we are already assuming that there’s an extra $4 million dollars that we will come up
with somewhere. If we are contingent on the blue amendment that has been proposed, depends on us
getting $4 million dollars of the New Market Tax Credits. We didn’t get the New Market Tax Credits last
time we applied for it. We didn’t get word that we weren’t getting the New Market Tax Credit. Why do we
think things are going to be different? Why should we include that in this amendment and continue
enabling a system that doesn’t seem to producing what it was proposed to do?
Alderman Dowd
Yes this Legislation change right here allows us to be eligible to get that money and if this Legislation isn’t
in place, we will never get the $4 million dollars. So the question is to pass this amendment, make us
eligible to get the $4 million dollars that are awarded through Tax Credits. We won’t know that for
approximately six months. In six months we can then take another look at the entire funding picture when
we have a better idea of what exactly the funding level is at that point.
Alderman Harriott-Gathright
| am comparing the two amendments here and the only thing | see different is paragraph four which says,
the last sentence talks about deleting the struck through language and adding the bold, italicized language
as follows. So we have just added some verbiage there and adding the bold, italicized language. So I’m
not sure this one is just verbiage that’s different. So this is the one we are finally going to vote on.
Alderman Jette
| too am confused by the blue and famous Golden Rod copies, it looks the same except on the back there
is analysis that says, the last sentence of the analysis says, “this amendment removes the two year time
period to raise the private money’.
Steve Bolton, Corporate Counsel
The analysis is prepared when the Legislation is first introduced. Last week, in Committee, the Committee
decided to make an amendment. There was no request of my office to prepare any modified analysis. The
amendment that the Committee was proposed was merely to add the language that is at the bottom of the
page in bold italics. In reviewing that proposed amendment, my office determined that if that language was
to be added in the paragraph ahead, which had previously said that the only amendment was to delete the
struck through language, merely putting this at the bottom did not explain what it was doing at the bottom.
So we added, in the blue copy, where it says, “In adding the bold italicized language” that was done in
order to effectuate what the Committee had intended. We were never asked, nor did we undertake, to do a
different analysis.
Alderman Jette
Thank you for explaining. Is the Golden Rod copy trashcan material?
Attorney Bolton
Essentially yes.
