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ECONOMIC & COMMUNITY DEVELOPMENT DEPARTMENT <br /> DATE: April 14, 2022 <br /> MEMO: 22-18 <br /> TO: Honorable Mayor Julie Moore Wolfe and City Council <br /> FROM: Scot Wrighton, City Manager <br /> Cordaryl "Pat Patrick, Community Development Director <br /> Greg Crowe, AICP, Planning and Development Manager <br /> SUBJECT: Ordinance Reserving 2022 Volume Cap in Connection with Private Activity Bond <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached ordinance <br /> reserving the City's 2022 volume cap. The attached ordinance does not obligate the City to issue <br /> bonds,but provides the opportunity to do so in the future. <br /> STAFF REFERENCE: Contact Greg Crowe at 217-450-2324 orcrg owe@decaturil.gov <br /> BUDGET/TIME IMPLICATIONS: The City's volume cap allocation must be obligated by <br /> May 1, 2022 or it will automatically be returned to the State of Illinois for reallocation to other <br /> entities. <br />