City Council

15. A PUBLIC HEARING REGARDING AN ECONOMIC DEVELOPMENT SUBSIDY REPORT AND\nLOAN AGREEMENT BETWEEN THE CITY OF ONTARIO AND CORE HOTEL VENTURE, LLC AND\nCONSIDERATION OF RESOLUTION\nThat the City Council take the following actions:\nA. Consider and adopt a Resolution authorizing the execution of a Loan Agreement and\nother related documents in connection with providing a loan to CORE Hotel Venture, LLC\nand accepting the Economic Development Subsidy Report prepared pursuant to\nGovernment Code Section 53083.\nB. Direct City Staff to file a Notice of Exemption based upon the City Council's finding that\nthere is no possibility that the approval of this Loan Agreement will have a significant\neffect on the environment and therefore, no environmental analysis is required.\nA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ONTARIO, CALIFORNIA, AUTHORIZING\nTHE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BY AND BETWEEN THE CITY OF\nONTARIO AND CORE HOTEL VENTURE LLC AND ACCEPTING THE ECONOMIC DEVELOPMENT\nSUBSIDY REPORT PREPARED PURSUANT TO GOVERNMENT CODE SECTION 53083.