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HomeMy WebLinkAboutRDA MINUTES 1993 02 01 MINUTES REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY CITY OF TUSTIN, CALIFORNIA FEBRUARY 1, 1993 1. CALL TO ORDER The meeting was called to order by Chairperson Pontious at 9:00 p.m. at the Tustin Area Senior Center, 200 South "C" Street, Tustin, California. 2. ROLL CALL ~'= Members Present: Leslie Anne Pontious, Chairperson ~ Jim Potts, Chairperson Pro Tem ~ Charles E. Puckett Thomas R. Saltarelli Jeffery M. Thomas Members Absent: None Recording Secretary: Mary E. Wynn Others Present: William A. Huston, Exec. Dir./City Manager James G. Rourke, City Attorney Christine Shingleton, Asst. Executive Director W. Douglas Franks, Chief of Police Robert Ledendecker, Director of Public Works Ronald A. Nault, Finance Director Rita Westfield, Asst. Dir./Comm. Development Dana Kasdan, Engineering Services Manager Larry Schutz, Assistant Finance Director Dan Fox, Senior Planner Dana Ogdon, Senior Planner Robert Ruhl, Field Services Manager Gary Veeh, Water Operations Manager Doug Anderson, Transportation Engineer Susan Jones, Recreation Superintendent Gary Magill, Recreation Supervisor Randy Westrick, Recreation Supervisor ~. Irma Hernandez, Administrative Assistant Katie Pitcher, Administrative Assistant Valerie Whiteman, Chief Deputy City Clerk Approximately 20 in the audience 3. APPROVAL OF MINUTES - JANUARY 19, 1993 REGULAR MEETING It was moved by Puckett, seconded by Pot~, to approve the Redevelopment Agency Minutes of January 19, 1993. Motion carried 5-0. 4. APPROVAL OF DEMANDS It was moved by Puckett, seconded by Potts, to approve Demands in the amount of $808,367.79. Motion carried 5-0. 380-10 5. TOWN CENTER/SOUTH CENTRAL CASH FLOW ANALYSIS Christine Shingleton, Assistant Executive Director, reported that at the December 21, 1992 meeting, Agency Member Saltarelli requested staff provide a current cash flow analysis for the Town Center and South Central Redevelopment Project areas. She stated the South Central Redevelopment Project Area Financing Plan was scheduled to be completed in the near future to identify priorities and possible bond financing opportunities. The cash flow analysis provided for each project area was a ten-year analysis depicting the Debt Service, Capital Projects, and Housing Set-Aside Funds. Agency Member Thomas stated the report was very complex and requested a meeting with staff for a detailed explanation, particularly set-aside funding. William Huston, Executive Director, reported staff was working on the South Central Financing Plan which would detail long range projects, bonding capacity, and financing projects. He suggested the cash flow analysis complexities be addressed when the South Central Financing Plan was reviewed by the Agency. REDEVELOPMENT AGENCY MINUTES Page 2, 2-1-93 Agency/staff discussion followed regarding verification of assumptions contained in the cash flow analysis; and depositing housing set-aside funds. William Huston, Executive Director, stated that previous Agencies approved deferring certain housing set-aside funds toward capital improvement projects, i.e. the Columbus Tustin gym and said that the City must now start paying back the diverted capital improvement projects to the housing set-aside fund. Agency Member Saltarelli voiced his concern that a tremendous "~ amount of Town Center Redevelopment money was and continued to be used for infrastructure and water projects, and questioned why water district bonds were not used for water projects. He was concerned there would not be funding for redevelopment projects. William Huston, Executive Director, said the South Central Financing Plan would afford this Agency the flexibility of setting expenditure policy and address leveraging Redevelopment Agency monies to stimulate development. Because of prior Agency policy, the current Agency was bound on how to utilize Town Center funds until the bonds were paid. Christine Shingleton, Assistant Executive Director, suggested presenting to the Agency the list of the prioritized water capital improvement projects depicting Redevelopment funding. It was moved by Potts, seconded by Thomas, to receive and file subject report, instruct staff to create a TOWn Center Housing Set- Aside Fund and begin making deposits to the fund in fiscal year 1992/93; adopt the Housing Deficit Plan for the Town Center Project area; and schedule a Redevelopment Agency workshop. Agency Member Saltarelli stated that because the water district transcended the City limits and the Redevelopment Agency was within -- City proper, allocating funding for infrastructure germane to the water district should be borne by water district residents rather than City residents. He said residents should benefit from projects that enhance the beauty of the City and he wanted to explore the water infrastructure expenditures. Motion carried 5-0. 630-20 6. OTHER BUSINESS - None 7. ADJOURNMENT Chairperson Pontious adjourned the meeting at 9:15 p.m. The next regular meeting of the Redevelopment Agency was scheduled for Tuesday, February 16, 1993, 7:00 p.m., at the Tustin Area Senior Center. LESLIE ANNE PONTIOUS, CHAIRPERSON DING SECRETARY