The agenda for tomorrow’s Fort Wayne City Council meeting may be downloaded here. Â The meeting starts at 5:30 pm in room 128 of the City-County building. Â On the agenda:
New Market Tax Credit Presentation
First up will be a presentation from Redevelopment Specialist Sharon Feasel concerning the New Market Tax Credit. Â From the New Market Tax Credit Program website:
[…] By making an equity investment in an eligible “community development entity” (CDE),Â individual and corporate investors can receive a New Markets Tax Credit worth moreÂ than 30 percent of the amount invested over the life of the credit, in present value terms.Â Eligible CDEs could include for-profit community development financial institutionsÂ (CDFIs), for-profit subsidiaries of community development corporations, SBA-licensedÂ New Markets Venture Capital companies, and Specialized Small Business InvestmentÂ Companies. A number of pioneering community-based institutions have demonstratedÂ track records in finding viable market opportunities in areas often overlooked byÂ traditional investors. By increasing their capital base, this tax credit will enable CDEs toÂ lend and invest more, to attract additional outside capital, and to bring even more privatesectorÂ engagement to their market-priming activities. Â Original pdf
Noise Control and Other Sensory Control Ordinance
This ordinance, containing changes to the Noise Control ordinance was tabled earlier in the year to allow for revisions to be made. Â Councilman Marty Bender has been helping Councilman John Shoaff with the ordinance. Â The changes will add regulation of external lights on residences to the existing noise ordinance. Â The proposed ordinance may be downloaded here.