HomeMy WebLinkAboutMinutes - November 18, 1991 - RA0 0
CITY OF AZUSA
MINUTES OF THE REDEVELOPMENT AGENCY
REGULAR MEETING
NOVEMBER 18, 1991 - 12:28 A.M.
The Redevelopment Agency of the City of Azusa met in
regular session at the above date and time in the Civic
Auditorium.
Chairman Moses called the meeting to order.
ROLL CALL
PRESENT: DIRECTORS: DANGLEIS, STEMRICH, NARANJO,
ALEXANDER, MOSES
ABSENT DIRECTORS: NONE
ALSO PRESENT
General Counsel Thorson, Executive Director Garcia,
Redevelopment Director Steel, City Department Heads,
Secretary Solis, Deputy Secretary Toscano.
PUBLIC PARTICIPATION
NONE
Call to order
Roll Call
Also Present
Pub Prtc
None
The CONSENT CALENDAR consisting of items I -2a through I -2g Cons Cal
was approved by motion of Director Alexander, seconded by appvd
Director Naranjo, and unanimously carried by roll call
vote with the exception of Item I -2e, which was considered
under the Special Call portion of the Agenda.
a. The Minutes of the regular meeting of November 4, 1991, Min appvd
were approved as written.
b. The Agency is assembling a financing team to consider a
bond issue. The services of a financial advisor
are needed to verify the revenue streams and help
structure the issue. Two proposals were received. The
following resolution was adopted:
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF Res. 91-R69
AZUSA APPROVING AN AGREEMENT FOR FISCAL ADVISORY Agmt Martin
SERVICES. Coren & Assoc
c. The Agency has adopted a rebate program to encourage Expansion of
rehabilitation of downtown structures. It was approved rebate pgrm
that the program be expanded to include properties along & supplemt
Foothill Boulevard and Azusa Avenue.. The focus of the funding
rebates will be exterior remodeling to improve
aesthetics along the major highways. The supplemental
funding of $120,000, was also approved.
d. The Agency received a proposal to refund the 1979
mortgage revenue bond issue and cash out of
approximately $1.9 million for general Agency purposes.
Miller and Schroeder and Magnus Capital submitted the
proposal. The Agency is under no financial obligation
until bonds are issued and retains the sole discretion
whether or not to proceed. The following resolution was
adopted:
9 0
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF Res. 91-R70
AZUSA APPROVING AN AGREEMENT FOR INVESTMENT BANKING Agmt Miller,
SERVICES. Schroeder
and Magnus
Capital
e. SPECIAL CALL ITEM.
f. Agency Treasurer's Financial Statement showing a balance Agency Treas
of $4,028,378.46, as of October 31, 1991, was received Stmt
and filed.
g. Resolution authorizing payment of warrants by the agency
was adopted.
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF Res. 91-R71
AZUSA ALLOWING CERTAIN CLAIMS AND DEMANDS TO BE PAID OUT Warrants
OF REDEVELOPMENT AGENCY FUNDS.
SCHEDULED ITEMS
NONE
Schad Items
None
SPECIAL CALL ITEMS
Spec Call
Mr. Art Morales addressed item regarding Phase IV to
revitalize the downtown
A. Morales
area. He requested the amount of
cost and time frame regarding the project.
Comments
Redevelopment Director Steel responded stating that phase IV
includes possible acquisition
Redevelopmt
of two remaining properties on
San Gabriel Avenue and construction of reciprocal parking
Director
response
area to serve Azusa Avenue businesses. He further spoke
of the possible creation of passway from rear stores to
Azusa Avenue. He addressed, in detail, construction, land
assembly and site preparation and stated that the cost
would amount to $1.350 million and that the predeveloping
stages would begin in fiscal year 1991-92..
Moved by Director Dangleis, seconded by Director Naranjo and Phase IV
unanimously carried by roll call to approve Phase IV for the Downtown
areas, which includes creation of a common parking area for area
downtown businesses, lighting, underground utility appvd
connections, possible creation of passway from rear stores
to Azusa Avenue and construction of public facilities for
users such as a Farmer's Market or other special events.
Moved by Director Dangleis, seconded by Director Naranjo Recess
and unanimously carried by roll call to recess to the end of
the City Council meeting.
TIME OF RECESS: 12:45 A.M.
THE REDEVELOPMENT AGENCY CONVENED JOINTLY WITH THE CITY CRA Convene
COUNCIL AT 12:49 A.M. w/Cncl
Chairman/Mayor Moses offered a resolution entitled:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA AND Res. 91-72
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE Clsd Sess
CITY OF AZUSA TO RECESS TO CLOSED SESSION ON NOVEMBER 18,
1991.
Moved by Chairman/Mayor Moses, seconded by
Director/Councilman Alexander to waive further reading and
adopt. Resolution passed and adopted by the following vote
of the Agency/Council:
11/18/91 PAGE TWO
AYES: DIRECTORS/COUNCILMEMBERS:
NOES: DIRECTORS/COUNCILMEMBERS:
ABSENT: DIRECTORS/COUNCILMEMBERS:
C
DANGLEIS, STEMRICH
NARANJO, ALEXANDER, MOSES
NONE
NONE
TIME OF RECESS TO CLOSED SESSION: 12:50 A.M.
Recess
THE CITY COUNCIL RECONVENED AT 1:15 A.M. Reconvene
Moved by Director/Councilman Alexander, seconded by Adjourn
Chairman/Mayor Moses and unanimously carried by roll call to
adjourn.
TIME OF ADJOURNMENT: 1:16 A.M.
NEXT RESOLUTION NO. 91-R73
11/18/91 PAGE THREE