LEGISLATIVE YEAR 2020
RESOLUTION: R-20-094
PURPOSE: Omnibus Resolution Regarding New Markets Tax Credit
Trans action for the Performing Arts Center
ENDORSERS: Mayor Jim Donchess
Alderman-at-Large Lori Wilshire
COMMITTEE
ASSIGNMENT:
FISCAL NOTE: Anticipated New Market Tax Credits revenue of $2,446,000
for the Performing Arts Center
ANALYSIS
This resolution authorizes the many and varied contracts and transactions necessary to close the
New Markets Tax Credit transaction for the Performing Arts Center.
Charter §77 provides that the Planning Board “shall review and make recommendations to the
mayor and board of aldermen on all locations for proposed municipal building and facilities,
including educational, [and] on the purchase and sale of any land by the city.”
Building construction permit fees are established by ordinance, see NRO sections 105-21 and
105-22. The ordinances do not contain any general provision for a waiver of building
construction permit fees. NRO 105-21, B does contain a waiver provision, but it is not
applicable to this situation, as it provides for a discretionary waiver of fees to the extent of the
value of municipal public improvements or land dedication.
Approved as to account Financial Services Division
structure, numbers and
amount: By:
Approved as to form: Office of Corporation Counsel
By:
Date:
