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C I T Y C O U N C I L C H A M B E R S - City of Youngstown

C I T Y C O U N C I L C H A M B E R S - City of Youngstown

C I T Y C O U N C I L C H A M B E R S - City of Youngstown

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CITY COUNCIL MINUTES<br />

JANUARY 7, 2004<br />

AND ALSO ACCOMPLISHING THE GOALS THAT I BELIEVE YOU’D LIKE TO<br />

ACCOMPLISH ON WEST FEDERAL STREET AND DO SOME ECONOMIC<br />

DEVELOPMENT PROJECTS WITH THE MONEY FOR JOB CREATION ALSO. ON<br />

THAT TRACK BECAUSE THE, AND I’M SURE THE IMPRESSION IS FAIR BUT I<br />

HAVE TO CORRECT IT IS A MISIMPRESSION AND I ACCEPT RESPONSIBILITY<br />

FOR THAT, IN TERMS OF TRYING TO DEVELOP A CONVOCATION CENTER<br />

THAT INITIATIVE HASN’T STOPPED. YOU ARE ALL AWARE THAT FROM THE<br />

BEGINNING WE ATTEMPTED TO LURE PRIVATE CAPITAL TO DEVELOP A<br />

CONVOCATION CENTER AS A PRIVATE PUBLIC PARTNERSHIP. WE HAVE<br />

BEEN UNSUCCESSFUL IN DOING THAT. WE CONTINUE TO HEAR THAT<br />

THESE THINGS ARE PRIMARILY BUILT BY PUBLIC ENTITIES THAT THEY’RE<br />

NOT INVESTED IN BY PRIVATE ENTITIES AND THAT’S BEING BORN OUT IN<br />

THE EXPERIENCE THAT’S OCCURRING IN TOLEDO, OHIO, MASSILLON WAS<br />

NOT SUCCESSFUL, ERIE, PA. THEIRS IS ON HOLD ETCETERA SO IN THAT<br />

REGARD, WHAT WE’RE ATTEMPTING TO DO THROUGH DIALOGUE WITH<br />

SOME OF THE INITIAL INTERESTED PARTIES COUNCILMAN, IS TO SEE IF<br />

THEY CAN SECURE NON-RECOURSE TO THE CITY, PRIVATE FINANCING IF<br />

IN FACT FROM DIFFERENT GOVERNMENTAL ENTITIES ON THE FEDERAL<br />

LEVEL, IF IN FACT WE COULD INFUSE SAY FIVE, SIX OR SEVEN MILLION<br />

DOLLARS INTO THE PROJECT COULD THEY SECURE NON-RECOURSE<br />

FINANCING TO THE PROJECT WHICH DOES NOT THEN EVER THREATEN<br />

THE GENERAL FUND OF THE CITY OF YOUNGSTOWN. THEY ARE GOING TO<br />

GET BACK I BELIEVE IN THE NEAR FUTURE WITH THE FINANCE DIRECTOR<br />

DAVID BOZANICH TO LET HIM KNOW HOW SUCCESSFUL THEY’VE BEEN<br />

AND WHAT LEVEL OF DEBT THEY BELIEVE THEY COULD FINANCE NON-<br />

RECOURSE FOR A FACILITY OF THAT NATURE. IF WE COULD ACCOMPLISH<br />

THAT WE THEN BELIEVE WE THAT WE MIGHT BE ABLE TO PROVIDE SEED<br />

MONEY FOR A CONVOCATION CENTER AND ALSO DO SOME OF THESE<br />

OTHER PROJECTS IN TERMS OF THE WEST FEDERAL STREET<br />

REHABILITATION PROJECTS AND SOME ECONOMIC DEVELOPMENT<br />

PROJECTS IN THE CITY OF YOUNGSTOWN. THAT IS ABOUT AS, I COULD<br />

GET MORE SPECIFIC BUT THAT’S ABOUT THE TRACK THAT THINGS ARE<br />

GOING ON NOW. ONE IS THE SENATORS INITIATIVE THE OTHER IS AN<br />

ONGOING DIALOGUE TRYING TO ACCOMPLISH THAT OBJECTIVE AND<br />

TALKS ARE GOING ON TO TRY AND SEE IF WE CAN MAKE THAT HAPPEN”.<br />

MR. FORTUNE:<br />

“MR. GILLAM”.<br />

MR. GILLAM: “THANK YOU VERY MUCH MR. CHAIRMAN AND MAYOR.<br />

THAT DATE THAT YOU HAVE OF FEBRUARY 4 TH I’M TOLD BY THE<br />

CONGRESSMAN AT THE EARLIEST IT WOULD BE, WOULD BE IN MARCH.<br />

AND AS I UNDERSTAND THERE WAS NOT AN EXTENSION FROM THE<br />

CONGRESSMAN, HE TOLD US THAT WE WERE NOT EXTENDED AS FAR AS<br />

HAVING A TIME LIMIT. SO THAT TELLS ME THAT THE WINDOW OF<br />

OPPORTUNITY FOR THIS CONVOCATION CENTER IS VERY NARROW AND<br />

GETTING CLOSER BY THE DAY. ALSO . . .<br />

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