HomeMy WebLinkAboutRDA AGENDA 05-21-01 AGENDA
REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY
MAY 21, 2001
CALL TO ORDER
ROLL CALL
REGULAR BUSINESS (ITEMS 1 THROUGH 2)
1. APPROVAL OF MINUTES - MAY 7, 2001 REGULAR MEETING
Recommendation: Approve the Redevelopment Agency Minutes of May 7, 2001.
2. CONDITIONAL COMMITMENT LETTER FOR FINANCIAL ASSISTANCE FOR THE
HERITAGE PLACE TUSTIN SENIOR HOUSING PROJECT
This action is to authorize the Executive Director to issue a conditional commitment letter
to American Senior Living, Inc. for the proposed Heritage Place Tustin Senior apartment
project and to enter negotiations for providing financial assistance to be subject to the
Agency's future approval.
Recommendation by the Redevelopment Agency staff:
1. Authorize the Executive Director to issue a conditional commitment letter for the
proposed Heritage Place Tustin Senior apartment project for the purpose of
enabling American Senior Living, Inc. to submit an application for housing tax credit
bond financing.
2. Authorize Agency staff to negotiate appropriate loan terms and prepare agreements
to be submitted to the Agency for approval.
OTHER BUSINESS
CLOSED SESSION - None
ADJOURNMENT - The next regular meeting of the Redevelopment Agency is scheduled for
Monday, June 4, 2001, at 7:00 p.m. in the Council Chamber at 300 Centennial Way.
Agenda - Redevelopment Agency May 21, 2001 - Page 1