HomeMy WebLinkAboutResolutions - 1977.07.21 - 13195Miscellaneous Resolution 8109 July 21, 1977
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BY: Niles E. Olson, Commissioner, District #3
RE: Economic Development Corporation of Pontiac Township - Successor Building Authority
• TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
- Mr. Chairman, Ladies and Gentlemen:
WHEREAS, the Township of Pontiac has established an Economic Development
Corporation of the Township of Pontiac for the purposes of developing a 50-acre parcel of land
located in the Township of Pontiac; and
WHEREAS, it is intended that said development be an 18,000 seat sports arena to be
located across the street from the Pontiac Silverdome; and
WHEREAS, the development of the sports arena would cause further development of the
adjacent areas into the proposed hotel and convention center; and
WHEREAS, such development would be beneficial to the citizens of the County of
Oakland in that it would create jobs, promote the development of the areas immediately
surrounding the City of Pontiac and the Township of Pontiac and would create a greater tax
base for the County of Oakland; and
WHEREAS, the Economic Development Corporation of the Township of Pontiac may
need a successor building authority in the event that the Economic Development Corporation of the
of the Township of Pontiac may not be able to continue an existence during the entire debt
retirement period due to unforeseeable circumstances beyond their control.
NOW THEREFORE BE IT RESOLVED that the Oakland County Building Authority be
named as Secondary and Successor Authority to the Economic Development Corporation of the
Township of Pontiac for the purposes of revenue bonding for the development of the 18,000
seat sports arena in the Township of Pontiac.
MR. CHAIRMAN, I move the adoption of the foregoing resolution.
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Niles E. Olson, Commissioner