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HomeMy WebLinkAboutRDA Min 1982-02-22 2-22-82 Seal' Beach, California February 22, 1982 The Redevelopment Agency of the City of Seal Beach met in regular session at 6:45 p.m. with Chairman Supple calling the meeting to order with the Salute to the Flag. I ROLL CALL Present: Chairman Supple Agency Members Kredell, Laszlo, Seitz, Vanderstaay Absent: None A Iso present: Mr. Parker, Executive Director Mr. Parrington, Special Legal Counsel Ms. Danielson, Planning Director Mrs. Yeo, Secretary WAIVER OF FULL READING Laszlo moved, second by Vanderstaay, to waive reading in full of all resolutions, and that consent to the waiver of reading shall be deemed to be given by all Agency members after reading of the title unless specific request is made at that time for the reading of such resolution. AYES: NOES: Kredell, Laszlo, Seitz, Supple, Vanderstaay t.lone Motion carried I APPROVAL OF MINUTES Agency Member Kredell to abstain from voting as he was absent from the February 8th meeting. Vanderstaay moved, second by Laszlo, to approve the minutes of the regular adjourned meeting of February 8, 1982 as presented. AYES: NOES: ABSTAIN: Laszlo, Seitz, Supple, Vanderstaay None Kredell Motion carried RESOLUTION NUMBER 82-1 - ADOPTING PROCEDURES - CALIFORNIA ENVIRONMENTAL QUALITY ACT Resolution Number 82-1 was presented to the Agency entitled "A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH REPEALING RESOLUTION NO. 80-5 AND ADOPTING PROCEDURES IMPLEMENTING THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, AND THE GUIDELINES OF THE SECRETARY FOR THE RESOURCES AGENCY, AS AMENDED 1982." By unanimous consent, full reading of Resolution Number 82-1 was waived. The Planning Director presented the staff report and stated the proposed Resolution adopts the most recent guidelines pursuant to amendments to State law. Laszlo moved, second by Kredell, to adopt Resolution Number 82-1 as presented. AYES: NOES: Kredell, Laszlo, Seitz, Supple, Vanderstaay None Mot ion carri ed I SETTLEMENT AGREEMENT EXTENSION - SB 99 BONDS - RIVERBEACH TOWNHOMES The Executive Director'reported that the extension of the Agreement with Riverbeach,Associates for the sale of SB 99 bonds had been renegotiated pursuant to Agency direction of last meeting and stated he had been informed this date that the bond market interest rates had dropped and that it is now possible the bonds will be sold within the next day or two. Mr. Parker'recommended the Agreement Extension be approved and that the Agency adjourn to Thursday, February 25th to consummate the sale of the bonds should they be sold. Mr. Parrington stated that the Agreement presented for Agency consideration provides for a $200,000 loan from Riverbeach Associates to the Agency, said loan to be repaid to the developer if the increase in assessed valuation generates sufficient tax increment to repay the loan, and if the town- homes were not constructed the Agency would have no obligation to repay 2-22-82 the loan to Riverbeach. Mr. Michael Whipple, Vice President, Miller & Schroeder Municipals, Inc., spoke regarding the present bond market and potential sale of the SB 99 bonds. Discussion followed regarding penalty payment from Riverbeach should the town homes not be constructed, the time frame for construction of the town homes if the bonds are sold, the amount of building and permit fees to be generated relating to said construction, and it was clarified that the Riverbeach advance loan to the Agency would be repaid only after the bond debt is satis- fied and only from those funds generated from the town homes project. I Mr. parrington clarified that paragraph six of the SB 99 Bond Agreement - specifically set forth the obligation of the Agency to repay the $200,000 loan. Mr. Gunther, Urban West Communities, responded to a question from the Agency, stating that the anticipated price of the 1400 to 1800 square foot units would be between $180,000 to $275,000. Seitz moved, second by Vanderstaay, to approve the Agreement for SB 99 Bonds with amended paragraph six noted, and that the Executive Director be authorized to execute said Agreement on behalf of the Agency and subject to the approval of the Seal Beach City Council. AYES: NOES: Laszlo, Seitz, Supple, Vanderstaay Kredell Motion carried COMMUNICATION - SEAL BEACH SCHOOL DISTRICT The Executive Director referred to a communication received from the Seal Beach School District requesting consideration by the Agency of any financial assistance that could be generated to the School District now or in the future. The Executive Director explained provisions of the California Health and Safety Code under which it is legally possible to provide tax increment monies to a taxing agency. The Agency discussed the present and projected financial status of the Agency and the current discussion by the School District of possible unification with the Los Alamitos School District. It was pointed out that with such unification the bonded indebtedness of the Los Alamitos District would be accrued by Seal Beach. Agency Member I Seitz suggested that the Zoeter School site be placed in the Redevelop- ment Agency thereby retaining control of the architectural and environmental design of any site improvements and having the ability to oversee that the site is developed to the highest and best use. Mr. Seitz suggested further that any tax increment funds from the site be returned to the School District to satisfy the indebtedness obliga- tion and offset any potential tax increase. It was noted that such an action would require rezoning of the site by the City. The Agency discussed the present recreational use of the Zoeter site and the future recreational facilities proposed for the Hellman property. Laszlo moved, second by Kredell, that a letter be forwarded to the School District explaining that funds are not available at this time, however some financial contribution may be possible within two to three yea rs . AYES: NOES: Kredell, Laszlo, Seitz, Supple, Vanderstaay None Motion carried Laszlo moved, second by Vanderstaay, to adjourn the meeting at this time until the conclusion of the City Council meeting. AYES: NOES: Kredell, Laszlo, Seitz, Supple, Vanderstaay None Motion carried The meeting adjourned at 8:05 p.m. and reconvened at 10:25 p.m. with Chairman Supple calling the meeting to order. I ORAL COMMUNICATIONS There were no oral communications. 2-22-82 ADJOURNMENT Laszlo moved, second by Seitz, to adjourn to Thursday, February 25. 1982 at 7:00 p.m. AYES: NOES: Laszlo, Seitz, Supple. Vanderstaay None Motion carried Agency Member Kredel1 did not record his vote. I The meeting adjourned at 10:26 p.m. ~ Cha i rman I~ . I I