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HomeMy WebLinkAbout1983-10-18; City Council; 7529; Refund of Deposit in Trusten . OF CARLSBAD -AGENDA: BILL AB#. 7.S:,2 9 lIT.L£; MTG._1 ~-~/?-?,3 ~DEPT. irn REFUND OF DEPOSIT JN TRUST RECOMMENDED ACTION: Approve the refund of $5,000.00 to Carlsbad Development Corp. ITEM EXPLANATION: The city required a $5,000~00 "good faith deposit" from the Carlsbad Development Corp. to allow them to participate in the Mortgage Bond Program. The Mortgage Bond Program funds arrived too late for the Carlsbad Development Corp. to utilize them. The Carlsbad Development Corp. is now requesting the refund of their $5,000.00 deposit which is being held in trust by the city. FISCAL IMPACT: None