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HomeMy WebLinkAboutRDA MINUTES 1993 06 07 MINUTES REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY CITY OF TUSTIN, CALIFORNIA JUNE 7, 1993 1. CALL TO ORDER The meeting was called to order by Chairperson Potts at 8:35 p.m. at the Tustin Area Senior Center, 200 South "C" Street, Tustin, California. 2. ROLL CALL Members Present: Jim Potts, Chairperson Thomas R. Saltarelli, Chairperson Pro Tem Leslie Anne Pontious Charles E. Puckett Jeffery M. Thomas Members Absent: None Recording Secretary: Mary E. Wynn Others Present: William A. Huston, Exec. Dir./City Manager Alan Watts, Assistant City Attorney Rita Westfield, Asst. Dir./Comm. Development W. Douglas Franks, Chief of Police Robert Ledendecker, Director of Public Works Ronald A. Nault, Treasurer Dana Kasdan, Engineering Services Manager Richard Zimmer, Redevelopment Program Manager Rick Brown, Building Official Gary Veeh, Water Services Manager Robert Ruhl, Field Services Manager Bettie Correa, Senior Personnel Analyst Susan Jones, Recreation Superintendent Doug Anderson, Transportation Engineer Gary Magill, Recreation Supervisor Valerie Whiteman, Chief Deputy City Clerk Approximately 10 in the audience 3. APPROVAL OF MINUTES - MAY 17, 1993 REGULAR MEETING It was moved b~ Puckett, seconded by Pontiou~, to approve the Redevelopment Agency Minutes of May 17, 1993. Motion carried 5-0. 4, APPROVAL OF DEMANDS It was moved by Puckett, seconded by Pontious, to approve Demands in the amount of $977,483.87. Motion carried 5-0. 380-10 5. APPROVAL OF PUBLIC WORKS AGREEMENT BETWEEN THE CITY OF TUSTIN AND TUSTIN COMMUNITY REDEVELOPMENT AGENCY FOR THE SOUTH CENTRAL PROJECT AREA It was moved bV Puckett, seconded by Pontioum, to make a finding as to the lack of other means of financing this project; make a finding as to the benefit of the Newport Avenue Extension Project to the Project Area as discussed in the staff report and authorize the Mayor to execute the subject Public Works Agreement between the City and the Agency. Motion carried 5-0. 400-10 6. WORKING CAPITAL LOAN AGREEMENT WITH FIRST INTERSTATE BANK Ronald Nault, Treasurer, reported that the tax increment revenues generated within a Redevelopment project area could only be transferred to the Agency to the extent that debt had been incurred that would be repaid from the tax increment. Previously, loans between the City and Agency had been utilized to secure annual tax increments and staff was now recommending a short-term working capital note between the Agency and First Interstate Bank. Agency/staff discussion followed regarding use of a revolving fund. 400-10 REDEVELOPMENT AGENCY MINUTES Page 2, 6-7-93 It was moved by Potts, seconded by Pontious, to adopt the following Resolution No. RDA 93-8 approving a one-year working Capital Loan Agreement with First Interstate Bank and authorizing the Executive Director to execute the Agreement on behalf of the Agency: RESOLUTION NO. RDA 93-8 - A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, APPROVING ACQUISITION OF A $3,000,000 LINE OF CREDIT FROM FIRST INTERSTATE BANK OF CALIFORNIA Motion carried 5-0. 7. OTHER BUSINESS A. INTRODUCTION - RICHARD ZIMMER, REDEVELOPMENT PROGRAM MANAGER William Huston, Executive Director, introduced new staff member, Richard Zimmer, Redevelopment Program Manager. B. STATUS - IRVINE RANCH WATER DISTRICT LETTER Chairperson Potts questioned the status of the letter to Irvine Ranch Water District regarding water usage/cost related to the Sports Park. William Huston, Executive Director, responded the letter was being prepared. 8. ADJOURNMENT Chairperson Potts adjourned the meeting at 8:45 p.m. The next regular meeting of the Redevelopment Agency was scheduled for Monday, June 21, 1993, 7:00 p.m., at the Tustin Area Senior Center. JIM~TS/~HA/RPERSON Y E. WYNN, RECORDING SECRETARx