Special Board of Aldermen 11-24-2020 Page 15
President Wilshire
Yes.
Director Cummings
Ok so we always had said from the very beginning that cash and pledges and would be always understood
to be part of the fund raising and not just solely cash. The cash is necessarily to effectuate the New Market
Tax Credit deal which is why we are pivoting in this direction. | can, if everyone can see my screen, | am
going to share my screen for a quick second here. | have a letter from Deb Novartny which outlines that
they have $780,000.00 in cash on hand, that’s of today. Pledges received, they had $760 so they'll have
more than the $1556 available and the guarantee, if you will, would be for, if I’m reading this correctly, for
approximately $760,000.00. So | just want to make sure you had that information as well.
Alderwoman Lu
Are you all set Alderwoman Lu?
Alderwoman Lu
Yes, |am. If Director Cummings has a chance to shoot that over, that’s something that would be, I’d love
to see that, have a chance to look at what years those are coming in. | am a little concerned about
guaranteeing, but thank you, |’m all set.
President Wilshire
Anyone else, questions? I’m not seeing anyone. OK, well the Motion before us is to recommend final
passage of Resolution 20-094. If there’s no one with questions, | am going to ask the Clerk to please call
the roll?
A viva voce roll call was taken which resulted as follows:
Yea: Alderman O’Brien, Alderman Klee, Alderwoman Kelly, Alderman Dowd,
Alderman Clemons, Alderman Lopez, Alderman Tencza,
Alderman Jette, Alderman Schmidt, Alderman Laws,
Alderman Cleaver, Alderman Harriott-Gathright, Alderman Wilshire
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Nay: Alderman Caron, Alderwoman Lu
MOTION CARRIED
