HomeMy WebLinkAboutRDA MINUTES 1994 08 15 MINUTES
REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
CITY OF TUSTIN, CALIFORNIA
AUGUST 15, 1994
CALL TO ORDER
The meeting was called to order by Chairperson Saltarelli at 9:58 p.m. at
the Council Chambers, 300 Centennial Way, Tustin, California.
ROLL CALL
Members Present: Thomas R. Saltarelli, Chairperson
Jim Potts, Chairperson Pro Tem
Mike Doyle
Jeffery M. Thomas
Tracy A. Worley
Members Absent: None
Recording Secretary: Mary E. Wynn
Others Present: William A. Huston, Exec. Dir./City Manager
Lois Jeffrey, Interim City Attorney
Christine Shingleton, Asst. Executive Director
Fred Wakefield, Police Captain
Ronald A. Nault, Finance Director
Robert Ruhl, Field Services Manager
Valerie Whiteman, Chief Deputy City Clerk
Rita Westfield, Asst. Dir./Com. Development
Rick Zimmer, Redevelopment Program Manager
Dana Kasdan, Engineering Services Manager
Dan Fox, Senior Planner
Gary Veeh, Water Operations Manager
Bettie Correa, Senior Personnel Analyst
Doug Anderson, Transportation Engineer
Katie Pitcher, Administrative Assistant
Approximately 10 in the audience
REGULAR BUSINESS (ITEMS I THROUGH 3)
1. APPROVAL OF DEMANDS
It was moved by Thomas, seconded by Potts, to approve Demands in
the amount of $104,731.44.
Motion carried 5-0.
380-10
2. APPROVAL OF MINUTES - AUGUST 1, 1994 REGULAR MEETING
It was moved by Thomas, seconded by Ports, to approve the
Redevelopment Agency Minutes of August 1, 1994.
Motion carried 5-0.
3. AGENCY FINANCIAL ASSISTANCE - RENAISSANCE PROJECT (FORMERLY
COSMOPOLITAN APARTMENTS)
Christine Shingleton, Assistant Executive Director, reported that
based upon Agency right-of-way needs along Newport Avenue and the
requirement under California Redevelopment Law that any housing
development within a project area include affordable housing units,
the applicant was requesting Agency financial assistance for the
project including the dedication of right-of-way along Newport
Avenue. She recommended the Agency meet in Closed Session to
discuss terms of Agency assistance.
400-10
CLOSED SESSION
Chairperson Saltarelli recessed the Redevelopment Agency to Closed
Session at 10:00 p.m. regarding Conference with Real Property
~; Re: 14882-14942 Newport Avenue, Tustin, California.
City of Tustin Community Redevelopment Agency and D&D Development
were negotiating terms of Agency assistance for redevelopment of
subject property. Action taken and final documents would be
reported in accordance with the Brown Act.
FOLLOWING CLOSED SESSION
The meeting was reconvened at 10:05 p.m.
REDEVELOPMENT AGENCY MINUTES
Page 2, 8-15-94
Christine Shingleton, Assistant Executive Director, stated Agency
direction for preparation of a development disposition agreement on
the subject project would include the following incentive package:
AGENCY PAYMENTS TO DEVELOPER
Reimbursements for Newport Avenue $ 590,810.00
Affordability Assistance 433,420.00
Subtotal $1,024,230.00
AGENCY ASSISTANCE TO BUYERS
Down Payment Assistance $ 29,866.00
TOTAL AGENCY CASH PAYMENT $1,054,096.00
Mortgage Credit Certificate Authority $1,922,298.00
TOTAL'VALUE OF AGENCY ASSISTANCE $2,976,394 . 00
She stated a final document would be presented to the Agency which
would include the parameters identified as non-negotiable.
It was moved by Thomas, seconded by Worley, to approve Agency
assistance to D&D Development in the amount of $1,054,096.00.
Motion carried 5-0.
OTHER BUSINESS - None
Chairperson Saltarelli adjourned the meeting at 10:07 p.m. The next
regular meeting of the Redevelopment Agency was scheduled for Tuesday,
Centennial Way.
THOMAS R. S/A~TA~.LLI, CHAIRPERSON
Y E. WYNN, RECORDING SECRETARY