HomeMy WebLinkAboutRDA Min 1987-02-23
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2-23-87
Seal Beach, California
February 23, 1987
The Redevelopment Agency of the City of Seal ~each met in
regular session at 6:47 p.m. with Chairman Wilson calling
the meeting to order with the Salute to the Flag.
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ROLL CALL
Present:
Chairman Wilson
Agency Members Clift, Hunt, Risner
Agency Member Grgas
Absent:
Also present: Mr. Nelson, Executive Director
Mr. Stepanicich, City Attorney
Mrs. Yeo, Secretary
WAIVER OF FULL READING
Clift moved, second by Hunt, to waive the 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:
ABSENT:
Clift, Hunt, Risner, Wilson
None
Grgas
Motion carried
APPROVAL OF MINUTES
Clift moved, second by Hunt, to approve the minutes of the
regular Redevelopment Agency meeting of January 26, 1987.
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AYES:
NOES:
ABSTAIN:
ABSENT:
Clift, ~unt, Wilson
None
Risner
Grgas
Motion carried
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COMMUNICATION - SURFS IDE COLONY - REVETMENT LOAN
The Executive Director referred to his letter of response to
the Surfside Colony, Ltd. regarding the loan repayment to
the City for construction of the revetment pursuant to an
agreement of November 8, 1982. The communication advised
that the Colony has fulfilled its reimbursement obligation,
however an amount of $85,829, plus interest, remains to be
reimbursed from Redevelopment Agency tax increment. The
Director requested an action of the Agency determining that
the balance may be reimbursed from tax increment funds, as
required by the agreement. In response to a concern posed
by Agency Member Risner-with regard to possible County
reaction to continuance of the Surfside Project Area and
further use of that tax increment to satisfy the remaining
revetment construction cost, the City Attorney advised that
the 1982 agreement provides for the option to allow for
greater than fifty percent of the obligation to be paid by
tax increment if such monies are available, explaining that
there would be no basis for the County to pursue an action
against the City regarding this matter since the Agency is
following the proviSions of a contractual obligation and
acting pursuant to an adopted Redevelopment Agency Plan,
noting that the time for an objection to be raised by the
County would have been within sixty days after adoption of
said Plan. Discussion continued. The staff clarified that
the City has maintained a deed of trust to a parcel of land
in Surfside as security for the debt, and upon the sale of
the original parcel, $45,000 was repaid to the City and
applied to the principal amount of the loan.
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2-23-87
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Hunt moved, second by Clift, to concur with the Executive
Director's recommendation to allow payment of the remainder
of the debt through tax increment monies.
AYES:
NOES:
ABSENT:
Clift, Hunt, Wilson
Risner
Grgas
Motion carried
ORAL COMMUNICATIONS
There were no Oral Communications from the audience.
ADJOURNMENT
Clift moved, second by Risner, to adjourn the meeting at
6:58 p.m.
AYES:
NOES:
ABSENT:
Clift, Hunt, Risner, Wilson
None
Grgas
Motion carried
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Chairman
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