HomeMy WebLinkAbout00 AGENDA SPEC MTG 08-22-02 AGENDA SPECIAL JOINT MEETING OF THE CITY COUNCIL AND TUSTIN PUBLIC FINANCING AUTHORITY CITY OF TUSTIN AUGUST 22, 2002 4:00 P.M. CALL TO ORDER ROLL CALL PUBLIC INPUT - At this time members of the public may address the City Council regarding any items not on the agenda, and within the subject matter jurisdiction of the City Council (no action can be taken on off-agenda items unless authorized by law). If you wish to address the City Council on any matter, please fill out one of the blue forms located on the speaker's podium and submit to the City Clerk so that your remarks on the digital recording of the meeting can be attributed to you. When you start to address the City Council, please state your full name for the record. Total time allotted for public input on non-agenda items is limited to thirty (30) minutes to one (1) hour, at the discretion of the presiding officer. A speaker may not relinquish hedhis time to another speaker. REGULAR BUSINESS (ITEMS 1 THROUGH 2) 1. TUSTIN LEGACY DISPOSITION STRATEGY AND SUBSEQUENT DEVELOPER SOLICITATIONS Formalize the Disposition Strategy and Developer Solicitation process for future marketing and sale of property at the former MCAS, Tustin, the Tustin Legacy project. Recommendation by the Redevelopment Agency staff: , A Master Developer Approach, rather than a Multiple Disposition Approach should be pursued for future disposition of property with the exception of original Packages 1 and 6a (as expanded to include Reuse Plan disposal parcels 10 and 12) and potentially Reuse Plan disposal parcel 34 as shown on Exhibit A (depending on the outcome of Navy bid responses to disposal parcel 35 and further interaction and discussions with the successful bidder of this parcel). , A 'more specific performance measurement Request for Qualifications (RFQ) process should be used to select a master developer for future disposition sites in the Tustin Legacy project as identified in item 1 above based on RFQ responses. The City would then work with the selected developer, at developer's expense to formulate a more refined development plan and business approach and offer to serve as the basis for terms in a disposition and development agreement. Agenda - Special Joint Meeting of City Council and Tustin Public Financing Authority - August 22, 2002 - Page 1 , LETTER OF CREDIT: SANTA ANA UNIFIED SCHOOL DISTRICT SETTLEMENT AGREEMENT 'The City's Settlement Agreement with the Santa Ana Unified School District concerning the Tustin Legacy Project provides that the City obtain a letter of credit to secure the financial aspects of the Settlement Agreement. Under the Agreement, the letter of credit was to have been obtained by August 14, 2002. The Santa Ana Unified School District had agreed to an extension of time to August 27, 2002. The final details of the letter of credit are being negotiated and it will not be possible to complete the transaction by August 27, 2002. It is expected the letter of credit will be in place on or before September 13, 2002. Recommendation by the City Manager: Authorize extension of the date to secure a letter of credit to September 13, 2002. ADJOURNMENT - The next regular meeting of the City Council is scheduled for Tuesday, September 3, 2002, at 7:00 p.m. in the Council Chamber at 300 Centennial Way. Agenda - Special Joint Meeting of City Council and Tustin Public Financing Authority - August 22, 2002 - Page 2