City Council Agenda – 12/9/2008

The Fort Wayne City Council

The agenda for tomorrow’s Fort Wayne City Council meeting may be downloaded here.  The meeting starts at 5:30 pm in room 128 of the City-County building.  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.  From the New Market Tax Credit Program website:

[…] By making an equity investment in an eligible “community development entity” (CDE), individual and corporate investors can receive a New Markets Tax Credit worth more than 30 percent of the amount invested over the life of the credit, in present value terms. Eligible CDEs could include for-profit community development financial institutions (CDFIs), for-profit subsidiaries of community development corporations, SBA-licensed New Markets Venture Capital companies, and Specialized Small Business Investment Companies. A number of pioneering community-based institutions have demonstrated track records in finding viable market opportunities in areas often overlooked by traditional investors. By increasing their capital base, this tax credit will enable CDEs to lend and invest more, to attract additional outside capital, and to bring even more privatesector engagement to their market-priming activities.  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.  Councilman Marty Bender has been helping Councilman John Shoaff with the ordinance.  The changes will add regulation of external lights on residences to the existing noise ordinance.  The proposed ordinance may be downloaded here.

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