HomeMy WebLinkAboutRDA AGENDA 06-20-94 AGENDA ,
REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
JUNE 20, 1994
CALL TO ORDER
ROLL CALL
REGULAR BUSINESS ( ITEMS I THROUGH 4 )
1
APPROVAL OF MINUTES - JUNE 6, 1994 REGULAR MEETING
Recommendation: Approve the Redevelopment Agency Minutes of June 6, 1994.
2. APPROVAL OF DEMANDS
Recommendation: Approve Demands in the amount of $1 66,147.01.
3,
WORKING CAPITAL LOAN AGREEMENT WITH. FIRST INTERSTATE BANK
The State Health and Safety Code, which governs redevelopment agencies, dictates
that tax increment revenues generated within a Redevelopment Project Area can only
be transferred to the Agency to the extent that the Agency has incurred debt that
will be repaid from the tax increment and that the debt must be equal to or greater
than the total available tax increment.
Recommendation: Adopt the following Resolution No. RDA 94-9 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 Redevelopment
Agency:
· .
RESOLUTION NO'°RDA 94-9 - A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF TUSTIN, CALIFORNIA, APPROVING ACQUISITION OF A
$3,000,000 WORKING CAPITAL LOAN FROM FIRST INTERSTATE BANK OF
CALIFORNIA
4. MICRO CENTER DISPOSITION AND DEVELOPMENT AGREEMENT
Micro Electronics, Inc. ("Micro Center") specifically requested City and/or
Redevelopment Agency financial assistance to assist them in offsetting extraordinary
costs in their development of a Micro Center facility at the southwest corner of
Edinger Avenue and Del Amo Avenue in the City of Tustin.
Recommendation by the Community Development Department:
Redevelopment Agency Agenda I June 20, 1994
a. Approve t Environmental Determination fo~ [he project by adopting the
following Resolution No. RDA 94-10:
RESOLUTION NO. RDA 94-10 - A RESOLUTION OF THE REDEVELOPMENT
AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, FINDING THAT FINAL
ENVIRONMENTAL IMPACT REPORT (EIR) FOR THE PACIFIC CENTER EAST
SPECIFIC PLAN (FINAL EIR 90-1 ) IS ADEQUATE TO SERVE AS THE PROGRAM
EIR FOR THE APPROVAL OF THE DISPOSITION AND DEVELOPMENT
AGREEMENT BY AND AMONG THE TUSTIN COMMUNITY REDEVELOPMENT
AGENCY, THE CI'I:Y OF TUSTIN, CATELLUS DEVELOPMENT CORPORATION
AND MICRO ELECTRONICS, INC. AND THAT ALL FEASIBLE MITIGATION
MEASURES HAVE BEEN INCORPORATED AS REQUIRED BY THE CALIFORNIA
ENVIRONMENTAL QUALITY ACT
b.
Approve the Disposition and Development Agreement by and among Micro
Electronics, Inc. (Micro Center), Catellus Development Corporation, the City and
the Redevelopment Agency to provide Micro Electronics, Inc. with financial
assistance for the improvement of the property at 1100 Edinger Avenue.
OTHER BUSINESS
CLOSED SESSION - During the course of conducting the 'business set forth on this
agenda at a regular meeting of the Redevelopment Agency, the Agency may convene in
Closed Session to consider matters of pending or potential litigation, or personnel matters,
pursuant to Government Code Sections 54956.9 or 54957.6.
Reports relating to (a) purchase and sale of real property, (b) matters of pending or potential
litigation, (c) employee compensation, or which are exempt from public disclosure under
the California Public Records Act, may be reviewed by the Agency during a permitted
Closed Session and are not available for public inspection. At such time as final actions are
taken by the Agency on any of these subjects, the minutes will reflect all required
disclosures of information.
ADJOURNMENT- The next regular meeting of the Redevelopment Agency is scheduled
for Tuesday, July 5, 1994, at 7:00 p.m. in the Council Chambers at 300 Centennial Way.
Redevelopment Agency Agenda 2 June 20, 1994