GARDEN GROVE
City Council members voted Tuesday to postpone a public hearing on C&D; Aerospace Co.’s application to participate in a state bond program.
The company would need a resolution of support from the city to help finance the purchase of manufacturing equipment for $777,000 through tax-exempt industrial revenue bonds.
The bonds are issued by the California Statewide Community Development Authority, a public joint powers authority, of which Garden Grove became a member in 1998. The city’s role would be to act as a conduit between the state program and the local company receiving the bonds. There is no financial impact or obligation on the city.
C&D; is a large, local manufacturing company that makes overhead compartments for major airlines.
The hearing was postponed to Nov. 28.
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