HomeMy WebLinkAbout01 IMPLEMENTATION PLAN TOWN CENTER & SOUTH CENTRAL REDEVELOPMENT AREASAgenda Item 1
'' Reviewed:
AGENDA REPORT City Manager
Finance Director N/A
MEETING DATE: OCTOBER 5, 2010
TO: WILLIAM A. HUSTON, AGENCY EXECUTIVE DIRECDTOR AND CITY MANAGER
FROM: REDEVELOPMENT AGENCY
SUBJECT: THE FOURTH FIVE-YEAR IMPLEMENTATION PLAN FOR THE TOWN CENTER AND
SOUTH CENTRAL REDEVELOPMENT PROJECT AREAS FOR FISCAL YEARS 2010-
2011 TO 2014-2015.
SUMMARY
A Joint Public Hearing had been scheduled for the City Council and the Redevelopment
Agency to consider approval of the Tustin Community Redevelopment Agency's Fourth
Five-Year Implementation Plan for the Town Center and South Central Redevelopment
Project Areas for Fiscal Years 2010-2011 to 2014-2015.
RECOMMENDATION
It is recommended that the City Council and Redevelopment Agency continue the Joint
Public Hearing on this item to the next scheduled meeting on October 19, 2010.
BACKGROUND/DISCUSSION
Concurrently, with preparation of the Fourth Five Year Implementation Plan, staff has
also been working with a financing team on a potential refunding of Town Center Tax
Allocation Bonds, Series 1998. As part of this effort, a technical issue has come up
which requires additional legal analysis by the City Attorney and Bond Counsel that
could affect recommendations or conclusions in the proposed Implementation Plan. As
a result, the City Attorney has requested a continuation of the Joint Public Hearing.
t
Christine A. Shingl n Jerry Craig
Assistant City Man ger Redevel en r m Manager
S:\RDA\CC report\2010WgendaReport 10-5-10 TC-SC 4'h Five-Year Implementation Plan_postponement.docx