"Ordinance in the amount of $350,000 amending the General Fund, the Technical Services Fund, and the General Capital Improvements Fund for a loan to the International Civil Rights Center and Museum.
City Manager Roth spoke to the item.
Mayor Perkins stated there were speakers to the item.
George Hartzman, 2506 Baytree Drive, spoke in opposition to funding a bail-out of the International Civil Rights Center and Museum.
City Manager Roth addressed the financial considerations of the Museum; compared the New Market with the Historic Tax Credits; and spoke to the outstanding Carolina Bank loan.
Mr. Swaim, 2117 Lynwood Lake Drive, confirmed that Mr. Alston did not receive financial benefit from the Museum; and stated that the interest was against account receivables and not the building.
Additional discussion focused on financial designations of losses versus proceeds; reinforced the fact that Council would decide to loan the funds after acceptable audited financials were received; and that the City would have two positions on the Museum’s board.
Moved by Mayor Pro-Tem Yvonne J. Johnson, seconded by Councilmember Jim Kee to adopt the ordinance. The motion carried on the following roll call vote:
AYES: Marikay Abuzuaiter, Nancy Hoffmann, Yvonne J. Johnson, Jim Kee, Robbie Perkins and Nancy Vaughan.
NOES: T. Dianne Bellamy-Small, Zack Matheny and Tony Wilkins.
http://greensboro.granicus.com/DocumentViewer.php?file=greensboro_2277b6bd9450b7af8d7fc7c253e92cc1.pdf&view=1
On Yvonne Johnson;
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