HomeMy WebLinkAbout01 FOURTH FIVE-YEAR IMPLEMENTATION PLANr Agenda Item 1
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MEETING DATE: OCTOBER 19, 2010
TO: DAVID C. BIGGS, AGENCY EXECUTIVE DIRECTOR 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 November 2, 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 that
requires additional legal analysis by the City Attorney 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.
Christine A. Shingleto
Assistant City Manager