HomeMy WebLinkAboutRDA 0 AGENDA 08-19-02 AGENDA REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY AUGUST 19, 2002 CALL TO ORDER ROLL CALL PUBLIC INPUT - Refer to City Council Agenda Second Public Input REGULAR BUSINESS (ITEMS 1 THROUGH 3) 1. APPROVAL OF MINUTES - AUGUST 5, 2002 REGULAR MEETING . Recommendation: Approve the Redevelopment Agency Minutes of August 5, 2002. WORKING CAPITAL LOAN AND ADMINISTRATIVE SERVICES AGREEMENT BETWEEN THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY AND THE CITY OF TUSTIN . The approval of this loan and administrative services agreement between the Tustin Community Redevelopment Agency and the City of Tustin will comply with Section 33675 of the California Health and Safety Code regarding the allocation and payment of tax increment to Redevelopment Agencies, and provide the resources necessary to carry out the adopted programs in the Agency's three project areas. Recommendation by the Finance Director: 1. Increase the outstanding loan balance to the South Central Project Area to $3,000,000 until August 31,2003. 2. Increase the outstanding loan balance to the MCAS, Tustin Project Area to $1,000,000 until August 31,2003. 3. Authorize the Chairperson of the Agency and the Mayor to execute the agreement for 2002-2003, offering and accepting a loan and various services from the City to the Agency totaling approximately $4,600,000 for fiscal year 2002-2003. EXCLUSIVE AGREEMENT TO NEGOTIATE A DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) FOR THE SUBSTANTIAL REHABILITATION OF RESIDENTIAL APARTMENTS IN THE KENYON DRIVE NEIGHBORHOOD WITH KENYON DRIVE, LLC Agency approval is requested to enter into exclusive negotiations for substantially rehabilitating the residential apartments in the Kenyon Drive Neighborhood pursuant to the Rules Governing Owner Participation for properties in the South Central Project Area. The Agency, by law, may enter negotiations with property owners and private developers Agenda - Redevelopment Agency August 19, 2002 - Page 1 seeking to develop projects in Redevelopment Project areas that are consistent with the goals and objectives of the Agency. Recommendation by the Redevelopment Agency staff: Authorize the Executive Director or Assistant Executive Director to execute an Exclusive Agreement to Negotiate between the Tustin Community Redevelopment Agency and Kenyon Drive, LLC ("Developer"). OTHER BUSINESS CLOSED SESSION - None ADJOURNMENT - The next regular meeting of the Redevelopment Agency is scheduled for Tuesday, September 3, 2002, at 7:00 p.m. in the Council Chamber at 300 Centennial Way. Agenda - Redevelopment Agency August 19, 2002 - Page 2