4. Interlocal Agreement – Eastside Redevelopment Revenue Bond, Series 2017. On August

Community Redevelopment Agency Meeting · 2026-05-11 · agenda_item

This item concerns an Interlocal Agreement related to the Eastside Redevelopment Revenue Bond, Series 2017. The agreement outlines how the Community Redevelopment Agency will repay the City for any advances made to cover bond payments if Tax Increment Revenues are insufficient. The City and the Agency entered into this agreement on August 15, 2017. The Agency's repayment obligation is subordinate to its primary duty to pay the 2017 Eastside Bond and any future related obligations. This matter is currently under review as part of a financial reporting process. The agreement itself does not describe a new construction project, but rather a financial arrangement for existing or planned redevelopment. Therefore, the scope of work is limited to financial administration and legal compliance related to the bond. Businesses involved in legal services and financial consulting may find opportunities related to the ongoing management and potential future adjustments of this agreement.