HomeMy WebLinkAboutRDA AG PKT 2009-02-23 #1AGENDA STAFF REPORT
DATE: February 23, 2009
TO: Chairman and Agency Members
THRU: David Carmany, Executive Director
FROM: Linda Devine, Secretary
SUBJECT: APPROVAL OF REDEVELOPMENT AGENCY MINUTES
SUMMARY OF REQUEST:
Approve Redevelopment Agency Minutes for the regular meeting held on
January 26, 2009.
BACKGROUND:
None
FINANCIAL IMPACT:
None
RECOMMENDATION:
Approve Redevelopment Agency Minutes for the regular meeting held on
January 26, 2009.
SU MITTED B
Li da Devine, ecretary
NOTED AND APPROVED:
David Carmany, xecutive Director
Attachments: Minutes
Agenda Item 1
Seal Beach, California
January 26, 2009
The Redevelopment Agency of the City of Seal Beach met in regular session
with Chairman Miller calling the meeting to order at 8:10 p.m.
Present: Chairman Miller
RDA Board Members Antos, Levitt, Shanks, Sloan
Others present: David Carmany, Executive Director/City Manager
Quinn Barrow, Legal Counsel/City Attorney
Lee Whittenberg, Director of Development Services
Vince Mastrosimone, Director of Public Works
Robbeyn Bird, Director of Administrative Seroices/Treasurer
Chief Jeff Kirkpatrick, SB Police Department
Jill Ingram, Assistant to the City Manager
Lieutenant Tim Olson, SB Police Department
Captain Joe Bailey, SB Lifeguard Department
Battalion Chief JJ McMasters, OCFA
Tim Kelsey, Program Facilitator -Community Services
Anita Chapanond, Administrative Assistant -City Clerk
Linda Devine, Secretary/City Clerk
ORAL COMMUNICATIONS
No speakers.
CONSENT CALENDAR
Antos moved, second by Levitt, to approve recommended actions for the item on
the Consent Calendar as presented.
AYES: Antos, Levitt, Miller, Shanks, Sloan
NOES: None Motion carried
Approved the minutes of Regular Redevelopment Agency Meeting of
January 12, 2009.
Authorized the Executive Director to approve any necessary agreements
with the occupants of 111 Welcome Lane regarding temporary space
rental reimbursement assistance over a 4-month time period in an amount
not to exceed $2,500 of the currently available $60,000.
CORRESPONDENCE
ITEM "3" /SEAL BEACH MOBILE HOME PARK BONDS
The Director of Development Services reported the City had received a letter
from The Loftin Group, the law firm that represents the Seal Beach Shores, Inc.
(trailer park residents' group -non-profit 501(c)(3) corporation). The letter
requested consideration of the Agency to explore the feasibility of the trailer park
residents' group assuming the bonds issued by the Agency in 2000 in connection
with the acquisition of the Seal Beach Trailer Park. If the Board wants to explore
the feasibility; Staff will contact both Bond Counsel (Kyle Snow) to find out
whether an opinion from Bond Counsel is needed and the insurance company
(ACA Financial Guaranty Corporation) to find out if ACA would approve the
"assumption." According to the December 18, 2008 Loftin Group letter, the cost
of "defeasing" the Bonds is too expensive. Thus, the trailer park residents' group
requests the Agency consider an assumption of the Bonds by the trailer park
residents' group. As part of the financing, there were several documents
executed and/or recorded that included provisions regarding a future transfer of
the park to a different ownership entity. The trailer park residents' group has
agreed to reimburse the Agency for all costs and expenses incurred by Agency
staff, attorneys and consultants in connection with its request, and deposited
Redevelopment Agency
$10,000 with the Agency to reimburse the Agency for any costs and expenses. It
is not known at this time whether the $10,000 is sufficient to cover all costs and
expenses.
Shanks moved, second by Antos, to direct staff to work with the Seal Beach
Shores, Inc. Board in assuming the bonds to acquire the property for the
residents.
AYES: Antos, Levitt, Miller, Shanks, Sloan
NOES: None Motion carried
ADJOURNMENT
With no objection it was the order of the Chair to adjourn the Redevelopment
Agency meeting at 8:21 p.m. Mayor Shanks reconvened the City Council
meeting.
Chairman
City Clerk /Secretary
City of Seal Beach
Seal Beach, California