HomeMy WebLinkAboutRDA 00 AGENDA 04-01-96 AGENDA
REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
APRIL 1, 1996
CALL TO ORDER
ROLL CALL
REGULAR BUSINESS (ITEMS I THROUGH 4)
1. APPROVAL OF MINUTES - MARCH 18, 1996 REGULAR MEETING
Recommendation: Approvethe Redevelopment Agency Minutes of March 18, 1996.
2. APPROVAL OF DEMANDS
Recommendation: Approve Demands in the amount of $772,301.14.
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EXCLUSIVE RIGHT TO NEGOTIATE: LAGUNA GARDENS
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Mr. Charles Fry has entered into escrow for the purchase of Laguna Gardens, a 64-
unit apartment complex at 1361 El Camino Real; and Mr. Fry has approached the
Agency for financial assistance to provide for significant upgrading and rehabilitation
of the complex and its conversion to condominiums.
Recommendation: Authorize the execution of an Exclusive Right to Negotiate
Agreement between the Tustin Community Redevelopment Agency and Charles H.
Fry as recommended by the Redevelopment Agency staff.
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AMENDMENT TO SHEA HOMES DISPOSITION AND DEVELOPMENT AGREEMENT
(DDA)
The Federal National Mortgage Association and Federal Housing AUthority have
recently raised significant issue in connection with the Redevelopment Agency DDA
requirements at the Tustin Homes project being developed by Shea Homes, namely,
the release of Agency affordability requirements in the event of foreclosure.
Recommendation: Approve Amendment 'No. I to the DisPosition and Development
Agreement (DDA) between the Tustin Community Redevelopment Agency and Shea
Homes Limited partnership, subject to any minor modifications' made with approval
· by the City Attorney as recommended by the Assistant City Manager.
OTHER BUSINESS
Redevelopment Agency Agenda
I April 1, 1996
CLOSED SESSION - The Agency will convene in closed session to confer with the
Agency Counsel regarding real property negotiation. The property is 1021 East Edinger,
Tustin, California, and the. parties are the City of Tustin and Chevron USA Products Co.
The negotiations concern price and terms of payment.
ADJOURNMENT- The next regular meeting of the Redevelopment Agency is scheduled
for Monday, April 15, 1996, at 7:00 p.m. in the Council Chambers at 300 Centennial Way.
Redevelopment Agency Agenda
2 April 1, 1996