Council approves IDA economic development revenue bonds

Adam Curtis Public Affairs Press Releases

The Sierra Vista City Council approved the issuance of economic development revenue bonds by the Industrial Development Authority of the City of Sierra Vista at its meeting on Thursday.

The proceeds of the bonds will be loaned to the Georgetown Community Development Authority, a Washington-based nonprofit organization, for the purpose of financing and refinancing the acquisition and improvement of community facilities. While these facilities are in Seattle, Washington, the fee paid to the Sierra Vista IDA will be used by the IDA to spur economic development efforts here in Sierra Vista.

This action has no impact on the City’s budget because the IDA is a separate entity, however the City Council’s approval is required to finalize the issuance of bonds by the IDA. The IDA intends to use the funds that it will receive from the borrower to help incentivize companies to locate in Sierra Vista, with an emphasis on job creation. Neither the City nor the IDA has any fiscal liability associated with the issuance or repayment of the bonds.

In other business:

  • Mayor Rick Mueller recognized the City’s Marketing & Communication Division for winning a national 2021 Silver Circle Award from the City-County Communications & Marketing Association for its 2018-19 Save the Santas campaign during the association’s annual conference in September. Sierra Vista took second place in the Most Creative Activity with Least Dollars spent category among communities with a population of 50,000 or fewer. The judges’ remarked “This is a great community story that reflects what can be accomplished when people come together for a common goal.”
  • The City Council approved reappointment of Wesley Hewitt and Berlynda Schaaf to the Parks and Recreation Commission, with terms set to expire on Dec. 31, 2023.
  • The City Council approved the acceptance of grant funding from the Arizona Governor’s Office of Highway Safety to enhance DUI and aggressive driving enforcement throughout Sierra Vista and the surrounding areas conducted by the Sierra Vista Police Department. The grant funds will reimburse the City for overtime in the amount of $21,549 and other employee related expenses in the amount of $8,452. In addition, the grant funds will reimburse the City for the purchase of four portable breath testers in the amount of $2,400. The total grant amount is $32,400.
  • The City Council approved the designation of the City Attorney as the individual authorized to sign settlement documents associated with the Arizona Opioid Settlement. This allows the City to receive its proportionate share of settlement proceeds.
  • The City Council approved acceptance of public improvements associated with the Summit Heights and Canada Vista subdivisions.
  • Mayor Rick Mueller issued a proclamation declaring October as National Domestic Violence Awareness Month in Sierra Vista.

Details on the council meeting items are available in the supporting documents for the Thursday, Oct. 14, City Council meeting. They can be accessed via the “City Council” folder on the City’s document server at docserve.sierravistaaz.gov/.

City Council meetings can be streamed live and past meetings can be viewed on YouTube. The meetings are also aired on Cox Channel 12. Learn more at www.sierravistaaz.gov/your-government/mayor-council/council-meetings/ or in the “Council HQ” page at engage.sierravistaaz.gov.