Grass Valley Council to consider $30K in allocations
The Grass Valley City Council has more than $30,000 in contributions to three different organizations tasked with promoting the town and its surrounding areas to consider at its meeting today.
First among them is a $10,000 allocation to the Greater Grass Valley Chamber of Commerce. For a number of years, the council has authorized annual funding to support the chamber’s activities to promote business, tourism and economic development, said City Manager Dan Holler in his report to the council.
Next on the council’s agenda is its agreement with the Nevada County Economic Resource Council, a public agency created by the county’s government to foster economic growth by enhancing the level of communication across various organizations, businesses and local government, Holler noted in his report.
In the last year, the ERC has also taken on a greater role in the promotion of tourism, thanks to a county grant. The proposed agreement to continue the city’s support of the county agency calls for an $11,000 allocation.
“Council’s approval of this agreement reflects the city’s ongoing support for and cooperative relationship with the ERC and the work done to enhance the community’s business climate and economic welfare of the city and region,” Holler wrote in his report.
Lastly, the council is tasked with a $10,000 allocation to the Grass Valley Downtown Association to support its activities relative to business promotion and economic development. The GVDA also partners with the city in a number of special events and promotions.
All three of these financial contributions will be considered under the council’s administrative portion of its agenda, which is for items anticipated to require discussion, including allowing for public comment. This portion of the meeting follows the consent calendar of items needing the council’s approval. Consent items are not anticipated to necessitate discussion and are usually adopted or passed in one sweeping motion.
The fourth and last administrative item on the agenda is a proposal to refund the city’s 2008 tax allocation bonds, which had a five-year call feature, associated with the city’s redevelopment agency.
“Based on current market conditions, it appears that exercising the call feature of the bonds and refunding the bonds will result in interest savings at levels to justify the refunding,” Holler noted.
Initial estimates of the proposal show an interest savings of more than 2 percent that would result in a savings of around $1 million over the life of the bonds. However, Holler notes that the final savings will not be known until the refunded bonds are issued, subject to market conditions. Such a refunding will not extend the life of the bonds, Holler further notes.
Further information on these matters can be found in staff reports on the city’s website, http://cityofgrassvalley.com, or at city hall, located at 125 E. Main St., where today’s meeting will take place starting at 6:30 p.m.
To contact Staff Writer Christopher Rosacker, email email@example.com or call 530-477-4236.
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