HomeMy WebLinkAboutMinutes - October 6, 2003 - RACITY OF AZUSA
MINUTES OF THE REDEVELOPMENT AGENCY
REGULAR MEETING
MONDAY, OCTOBER 6, 2003 — 9:37 P.M.
The Board of Directors of the Redevelopment Agency of the City of Azusa met in
regular session at the above date.
Chairperson Madrid called the meeting to order.
ROLL CALL
PRESENT: DIRECTORS: HARDISON, STANFORD, CHAGNON, ROCHA,
MADRID
ABSENT: DIRECTORS: NONE
ALSO PRESENT:
General Counsel Carvalho, Assistant Executive Director Person, City Department Heads,
Deputy Secretary Toscano, Secretary Mendoza.
The CONSENT CALENDAR consisting of Items VII -A through VII -H, were approved by
motion of Director Stanford, seconded by Director Chagnon and unanimously carried.
Call to Order
Roll Call
Also Present
Consent Cal.
Approved
A. Minutes of the regular meeting of September 15, 2003, were approved as written. Min approved
B. A RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT Res. 03-R36
AGENCY OF THE CITY OF AZUSA RE -ADOPTING THE INVESTMENT POLICY. Investment Pol
C. The budget amendment for Education Augmentation Fund (ERAF) Shift was ERAF Shift
approved as follows: 1) Additional appropriation of $98,210 from CBD and West
End (the Merged Project) from available debt service reserves; 2) appropriation of
$3,040 from Ranch Center; and 3) decrease of the Light and Water debt service
payment appropriation in the Ranch Center Project by $3,040, in order to fund the
additional $101,250 required for the state -mandated ERAF shift.
D. Authorization was given to approve the initiation of refunding the Agency 1994 Tax Financial Advisor
Allocation Bonds; waive the formal Request for Qualification process and approve C.M. de Crinis
the professional services agreement with C.M. de Crinis & Company, Inc to provide & Co.
financial advisory services or the bond funding.
E. Extension of professional services agreement for Economic Agmt Hennessey
Development/Redevelopment Director Service provided by Hennessey Group was Group
approved.
F. Approval was given to recognize $348,020 of property tax increment revenues and
Prop Tax Incrmt
appropriate $132,210 for payment to LA County pass-through expenditures and
Rev & agmt w/
$69,600 to the 20% low/mod housing fund and, amend the contract with HDL
HDL Coren &
Coren & Cone Property Tax Recovery in order to pay for additional services in the
Cone
amount of $52,020.
G. Approval was given to extend the contract with Kosmont & Associates for Contract w/
Redevelopment project management services to June 30, 2004 and authorize Kosmont
execution of the amendment.
H. The following Resolution was#pted and entitled: 0
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA Res. No. 03-11237
ALLOWING CERTAIN CLAIMS AND DEMANDS TO BE PAID OUT OF Warrants
REDEVELOPMENT AGENCY FUNDS.
It was consensus of the Redevelopment Agency Boardmembers to adjourn Adjourn
TIME OF ADJOURNMENT: 9:38 P.M.
NEXT RESOLUTION NO. 03-R38.
NEXT ORDINANCE NO. 03 -ROI.
10/06/03 PAGE TWO