HomeMy WebLinkAbout020910 RDA Action Minutes ' ACTION MINUTES
of
FEBRUARY 9, 2010
City Council Chambers, 43200 Business Park Drive, Temecula, California
TEMECULA REDEVELOPMENT AGENCY MEETING
The Temecula Redevelopment Agency Meeting convened at 7:36 PM.
CALL TO ORDER: Chair Person Mike Naggar
ROLL CALL: AGENCY MEMBERS: Comerchero, Edwards, Washington, Roberts,
Naggar
RDA PUBLIC COMMENTS
There were no public comments.
RDA CONSENT CALENDAR
10 Action Minutes - Approved Staff Recommendation (5 -0 -0) — Agency Member
Washington made the motion; it was seconded by Agency Member Comerchero
and electronic vote reflected unanimous approval
' RECOMMENDATION:
10.1 Approve the action minutes of January 26, 2010.
11 Exclusive Negotiating Agreement with the RC Hobbs Company for the potential
development of Agency owned property for affordable housing located at 28640 Puiol
Street (APN 922- 053 -020 and 021) - Approved Staff Recommendation (" -0) —
Agency Member Washington made the motion; it was seconded by Agency
Member Comerchero and electronic vote reflected unanimous approval
RECOMMENDATION:
11.1 Approve an Exclusive Negotiating Agreement ( "ENA ") between the Temecula
Redevelopment Agency and the RC Hobbs Company.
12 Second Amendment to the Owner Participation Agreement between the Redevelopment
Agency of the City of Temecula and the Warehouse at Creekside, LLC - Approved
Staff Recommendation (4 -0 -1) — Agency Member Washington made the motion; it
was seconded by Agency Member Comerchero and electronic vote reflected
approval with the exception of Agency Member Edwards who abstained
RECOMMENDATION:
' 12.1 Approve the Second Amendment to the Owner Participation Agreement between
the Redevelopment Agency of the City of Temecula and the Warehouse at
Creekside, LLC.
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Agency Member Edwards did not participate and abstained from this item. Mission Oaks Bank
' is a source of income to her and the Bank has a business relationship with a principal of the
owner but the Bank does not have any business interests in this particular project. Agency
Member Roberts may participate because his stock ownership in Mission Oaks Bank is less
than 10% of the outstanding shares and does not meet the threshold amounts for an economic
interest. Additionally, this action only affects the funding source of the Agency's obligation and
does not affect the Project, its owner, or Mission Oaks Bank.
13 Funding source for AB 4X 26 Supplemental Educational Revenue Augmentation Fund
Payment - Approved Staff Recommendation (5 -0 -0) — Agency Member Washington
made the motion; it was seconded by Agency Member Comerchero and electronic
vote reflected unanimous approval
RECOMMENDATION:
13.1 Adopt a resolution entitled:
RESOLUTION NO. RDA 10 -01
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
TEMECULA PROVIDING FOR THE PAYMENT OF ITS SUPPLEMENTAL
EDUCATIONAL REVENUE OBLIGATION FOR FISCAL YEAR 2009 -2010
JOINT CITY COUNCIUREDEVELOPMENT AGENCY/TEMECULA PUBLIC FINANCING
' AUTHORITY BUSINESS
14 Issuance of Tax Allocation Housing Bonds by the Redevelopment Agency of the City of
Temecula for the Temecula Redevelopment Project No. 1
RECOMMENDATION:
14.1 The City Council adopt a resolution entitled: )_-Approved Staff
Recommendation (4 -0 -1) — Council Member Roberts made the motion; it
was seconded by Mayor Comerchero and electronic vote reflected
approval with the exception of Council Member Edwards who abstained
RESOLUTION NO. 10 -11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA
APPROVING THE ISSUANCE BY THE REDEVELOPMENT AGENCY OF THE
CITY OF TEMECULA OF TAX ALLOCATION HOUSING BONDS
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14.2 The Redevelopment Agency adopt a resolution entitled: Z- Approved Staff
' Recommendation (4 -0 -1) — Agency Member Washington made the motion;
it was seconded by Agency Member Comerchero and electronic vote
reflected approval with the exception of Agency Member Edwards who
abstained
RESOLUTION NO. RDA 10 -02
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
TEMECULA AUTHORIZING THE ISSUANCE AND SALE OF TAX
ALLOCATION HOUSING BONDS, AND APPROVING RELATED
DOCUMENTS AND ACTIONS
14.3 The Temecula Public Financing Authority adopt a resolution entitled: Z-
Approved Staff Recommendation (4 -0 -1) — Authority Member Comerchero
made the motion; it was seconded by Agency Member Washington and
electronic vote reflected approval with the exception of Authority Member
Edwards who abstained
RESOLUTION NO. TPFA 10 -01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA
PUBLIC FINANCING AUTHORITY AUTHORIZING THE PURCHASE AND
SALE OF TAX ALLOCATION HOUSING BONDS OF THE REDEVELOPMENT
' AGENCY OF THE CITY OF TEMECULA, AND APPROVING OTHER
MATTERS RELATED THERETO
By way of a PowerPoint presentation, Finance Director Roberts presented the staff report (as
per agenda material.
Council Member /Agency Board Member /Authority Member Edwards did not participate on this
item — the approval of 2010 Tax Allocation Housing Bonds that will provide a new source of
funding for the Agency's obligation under the Warehouse at Creekside OPA. Mission Oaks
Bank is a source of income to Council Member /Agency Board Member /Authority Member
Edwards and the Bank has a business relationship with a principal of the owner but the Bank
does not have any business interest in this particular project. Council Member /Agency Board
Member /Authority Member Roberts may participate because his stock ownership in Mission
Oaks Bank is less than 10% of the outstanding shares. Council Member /Agency Board
Member /Authority Member Naggar may participate because his stock ownership is also less
than 10% of the outstanding shares and does not meet the threshold amounts for an economic
interest. Additionally, this action only affects the funding source of the Agency's obligations and
does not affect the Project, its owner, or Mission Oaks Bank.
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' RDA EXECUTIVE DIRECTORS REPORT
RDA AGENCY MEMBERS REPORTS
RDA ADJOURNMENT
At 7:46 P.M., the Temecula Redevelopment Agency meeting was formally adjourned to
Tuesday, February 23, 2010, at 5:30 P.M., for a Closed Session, with regular session
commencing at 7:00 P.M., in the City Council Chambers, 43200 Business Park Drive,
Temecula, California.
I ichael S. Naggar, Chair rs n
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