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Home My WebLink AboutRDA 01 MINUTES 07-07-98 RDA NO. 1 7-7-98 MINUTES REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY CITY OF TUSTIN~ CALIFORNIA JUNE 15, 1998 CALL TO ORDER The meeting was called to order by Chair Saltarelli at 7:52 p.m. at the Council Chambers, 300 Centennial Way, Tustin, California. ROLL CALL Members Present: Members Absent: Recording Secretary: Others Present: Thomas R. Saltarelli, Chair Tracy Wills Worley~ Chair Pro Tern Mike Doyle .]im Ports .]effery IVl..Thomas None Pamela Stoker William A. Huston, Executive Director Lois .]effrey, City Attorney Christine Shingleton, Assistant Executive Director George .leffries, City Treasurer Elizabeth Binsack, Director of Community Development Steve Foster' Chief of Police Ronald A. Nault, Finance Director Tim Serlet, Director of Public Works Pat Sanchez, Director of Parks and Recreation Services Dana Kasdan, Engineering Services Manager Rita West-field, Assistant Director/Community Development Beverley White, Deputy City Clerk Robert Schoenkopf, Police Captain George Wiesinger, Code Enforcement Officer Bettie Correa, Senior Personnel Analyst Approximately 50 in the audience Agencymember Potts left the dais at 7:52 p.m. REGULAR BUSINESS (ITEMS 1 THROUGH 4) 1, APPROVAL OF MINUTES - JUNE 1~ 1998 REGULAR MEETING It was moved by Thomas, seconded by Worley, to approve the Redevelopment Agency Minutes of .]une 1, 1998. Motion carried 4-0., Potts absent. 2. APPROVAL OF DEMANDS It was moved by Thomas, seconded by Worley, to approve Demands in the amount of $33,877.23. REDEVELOPMENT AGENCY MINUTE. Page 2, 6-].5-98 Motion carried 4-0, Ports absent. ! PUBLIC HEARING: APPROVAL OF RELOCATION PLAN AND ADOPTION OF REPLACEMENT HOUSING PLAN FOR TUSTIN MEADOWS PRO3ECT Christine Shingleton, Assistant Executive Director, reported the Agency had authorized an exclusive negotiation agreement with DeBeikes Investment Company for development of the Tustin Meadows Apartments, located on Sixth Street; California Redevelopment Law required adoption of a relocation plan and approval of a replacement housing plan 30 days prior to action on the development agreement; and both plans had been'prepared by Pacific Relocation Consultants. Chair Saltarelli opened the Public Hearing at 7:55 p.m. There were no speakers on the 'subject and the Public Hearing was closed. It was moved by Thomas, seconded by Doyle, to adopt the following Resolution No. RDA 98-3 approving the Replacement Housing Plan and the Relocation Plan for the Tustin Meadows Apartment Pro~ect property: RESOLUTION NO. RDA 98-3 - A RESOLUTION OF THE TUb-l-IN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY. OF TUSTIN, CALIFORNIA, APPROVING AND ADOPTING THE REPLACEMENT HOUSING PLAN AND RELOCATION PLAN FOR THE TUSTIN MEADOWS APARTMENT PROJECT PROPERTY LOCATED AT 120-250 SIXTH STREET IN THE CITY OF TUb-l-iN Motion carried 4-0, Ports absent. Agencymember Potts retUrned to the dais at 7:56 p.m. REFUNDING OF OUTSTANDING 1987 AND 1991 TOWN CENTER PROJECT AREA TAX ALLOCATION BONDS Ron Nault, Director of Finance, reported the original structure of the bonds would be maintained; the 1987 bonds matured November 1, 1998 through November 1, 2006; the 1991 bonds matured December 1998, through December 2016; the.bond issues were in excess of $18 million; the proposed action did not take out new money, extend maturities, or increase the amount of debt; and final maturity would be in 2016. ~ Agency/staff discussion followed regarding receiving competitive interest rates; and staff was reviewing available options including current refunding .and one advanced refunding. It was moved by Thomas, seconded by Doyle, to adopt the following Resolution No. RDA 98-2 authorizing the issuance by the Tustin Community Redevelopment Agency of Tax Allocation Bonds in the aggregate principal amount of not to exceed $21,000,000 and approving related dOcuments and actions: RESOLUTION NO. RDA 98-2 - A RESOLUTION OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, AUTHORIZING THE REDEVELOPMENT AGENCY MINUTES Page3, 6-15-98 ISSUANCE AND SALE OF TAX ALLOCATION BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $21,000,000 TO REFUND THE AGENCY'S OUTSTANDING TOWN CENTER AREA REDEVELOPMENT PRO.IECT TAX ALLOCATION REFUNDING BONDS, SERIES 1987, AND THE AGENCY'S TOWN CENTER AREA REDEVELOPMENT PROJECT SUBORDINATE TAX ALLOCATION BONDS, SERIES 1991, AND APPROVING RELATED DOCUMENTS AND ACTIONS Motion carried 5-0. OTHER BUSINESS- None CLOSED SESSION Chair Saltarelli announced that Agencymembers would convene in closed session pursuant to Government Code Section 54956.8 to confer with the Agency's real property negotiator regarding the following properties and negotiating parties: 17102 McFadden Avenue (AP 402-122-03) - Pension Income Property Fund One; 15962 Myrtle Avenue (AP 402-134-01) - Roz Properties L.P.; 16002 Myrtle Avenue (AP 402-134-02) - Roz Properties L.P.; 14611 Newport Avenue (AP 402- 134-03) - De Anza Plaza Apartments; 15981 through 15991 Myrtle Avenue, 17152 Altadena, 16012 Bliss (AP 402-133-06) - Naren Shah; 14701 Newport Avenue (AP 402-133-07) - Richard. and Linda Cherney; 14711 Newport Avenue (AP 402-133-08) - The Perry Family Trust; 14721 Newport Avenue (AP 402-133-09) - The Perry Family Trust; 14731 Newport Avenue (AP 402-133- 10) - The Perry Family Trust; 14741 Newport Avenue (AP 402-133-11) - Dennis Smith; 14751 Newport Avenue (AP 402-133-12) - Dennis Smith; 14771 through 14781 Newport Avenue (AP 402-142-22) - Bruce and ]anis Thompson; 14791 Newport Avenue (AP 402-142-21) - Bing and Eleanor Wong; 14811 Newport.Avenue (AP 402-142-05) - Clermont and Nancy Sherman; 14801 Newport Avenue (AP 402-142-19) - Russell Greengard; and the Redevelopment Agency. Instructions to the negotiator shall concern terms and conditions of acquisition. Acquisition of said properties is related to needed Newport Avenue widening, Newport/Sycamore Avenue intersection enhancements, the. Newport Avenue extension, and neighborhood park acquisition. AD.1OURNMENT Chair Saltarelli adjourned the meeting at 8:00 p.m. The next regUlar meeting of the Redevelopment Agency was scheduled for Tuesday, .luly 7, 1998, at 7:00 p.m. in the Council Chamber at 300 Centennial Way. THOMAS R. SALTARELLI, CHAIR PAMELA STOKER, RECORDING SECRETARY