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Home My WebLink About1989-04-27MINUTES JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND THE PALM DESERT FINANCING AUTHORITY THURSDAY, APRIL 27, 1989 CIVIC CENTER COUNCIL CHAMBER • • • • • • • • • • • • • • • • • • • • • • • • • I. CALL TO ORDER Chairman/President Wilson convened the meeting at 4:15 p.m. for the purpose a• di scuss i ng Item A of New Business. Please see that section for discussion and action taken by the Redevelopment Agency Board/Financing Authority. 11. ROLL CALL Present: Excused Absence: Vice Chairman/Vice President Member/Commissioner Buford A. Crites Jean M. Benson Member/Commissioner Richard S. Kelly Member/Commissioner Walter H. Snyder Chairman/President S. Roy Wilson Also Present: Carlos L. Ortega, Executive Director/ACM Bruce A. Altman, City Manager/Chief Administrative Officer William Strausz, Agency Counsel Sheila R. Gilligan. Agency Secretary/Authority Secretary Ramon A. Diaz, ACM/Director of Community Development/Planning Richard J. Folkers, ACM/Director of Public Works Paul Shilicock, ACM/Director of Economfc Development Paul Gibson, Treasurer/Director of Finance CONSENT CALENDAR A. MINUTES of the Regular Meeting of the Redevelopment Agency of April 13. 1989. Rec: Approve as presented. B. CONSIDERATION OF PROPOSALS for the Presidents' Plaza Parking Realignment. Rec. S,, Minute Motion authorize staff to rz.:=:t t! -+ ry ..� nJ V proposals for said realignment. MINUTES JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY 1 AND THE PALM DESERT FINANCING AUTHORITY APRIL 27, 1989 • • • • • • • • • • • • • • • • • • • • • • • • • C. REQUEST FOR APPROVAL of Change Order No. 3 to Contract No. RD-265 for Inspection Services for Highway 111 Frontage Road Beautification Project. Rec: By Minute Motion: 1. approve Change Order No. 3 1-n the amount of $4,060; 2. Authorize the appropriation of $4,060 from the Unallocated Budget Reserve to the project budget contingency. Member Crites asked that Item A be continued to the meeting of May 11, 1899. Upon motion by Snyder, second by Crites, the Consent Calendar, with the exception of Item A, was approved as presented by unanimous vote of the Agency Board. IV. ORAL COMMUNICATIONS None V. RESOLUTIONS None VI. CONSENT ITEMS HELD OVER None VII. NEW BUSINESS A. CONVENE MEETING OF THE PALM DESERT FINANCING AUTHORITY. Joint Meeting with Redevelopment Aciencv: Mr. Ortega reviewed the staff report, noting that the creation of the Financing Authority would allow the financing of various projects of the Redevelopment Agency's list of priorities. He said the proposed issuance of bonds by the Palm Desert Redevelopment Agency would be initially sold to the Palm Desert Financing Authority, which would in turn simultaneously sell the bonds to Miller and Schroeder Financial, Inc. He stated that Mr. Greg Ballenger from Miller and Schroeder was present to expla;i1 the bond purchase agreement and answer any questions. 2 MINUTES JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND THE PALM DESERT FINANCING AUTHORITY APRIL 27, 1989 • • a s • s s • : * s a • f r • s a * i s : 1 • * MR. BALLENGER explained the agreement, noting that the bond issue was set to close on May 22nd. He said one of the reasons the insurance companies were willing to give such a good rate was due to Palm Desert's very good name. Mr. Bill Strausz, Redevelopment Agency Counsel, explained the proposed Agency resolution authorizing the issuance of and providing for the sale of bonds. He said it provided for the issuance of not to exceed $6 million tax allocation bonds to be secured by pass through funds. He said the pass through agreement with the School District had been amended to provide that the funds be used to secure bonds, the proceeds of which would be used to provide *Tacilities. He distributed copies of the final draft of the agreement to the Agency Members and Secretary. Member/Commissioner Crites expressed concern over approving a agreement which he had not had a chance to review. Chairman/President Wilson said the Members had worked with Mr. Strausz for a long time, and he would feel comfortable moving ahead and approving the agreement on his recommendation. Commissioner Kelly moved to: 1) Waive further reading and adopt Resolution No. FA-1, approving the Bylaws of the Authority; 2) Waive further reading and adopt Resolution No. FA-2, adopting a Conflict of Interest Code; and 3) Waive further reading and adopt Resolution No. FA- 3, approving a bond purchase agreement among the Authority, the Palm Desert Redevelopment Agency, and Miller and Schroeder Financial, Inc. Motion was seconded by Wilson and carried by a 3-0-1 vote, with Commissioner Crites ABSTAINING. Member Kelly moved to: 1) By Minute Motion, approve the cooperative agreement (#RD-361) with the Desert Sands Unified School District and authorize the Chairman to execute same; and 2) Waive further reading and adopt Resolution No. 220, authorizing the issuance of and providing for the sale of its bonds. Motion was seconded by Wilson, and the Members voted as follows: Ayes — Kelly and Wilson; Abstentions - Crites and Snyder. Upon question by Chairman Wilson, Mr. Erwin responded that an abstention supports an affirmative vote. Mrs. ,+ i "gan an ncsd that the motion carried , i th one absent, and two abstentions. 3 MINUTES JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND THE PALM DESERT FINANCING AUTHORITY APRIL 27, 1989 Upon motion by Snyder, second by Crites, and unanimous vote of the Financing Authority Board, President Wilson adjourned the Financing Authority meeting at 4:45 p.m. With Agency Board concurrence, Chairman Wilson recessed the Redevelopment Agency meeting until after completion of the City Council meeting. He reconvened the Redevelopment Agency meeting at 7:45 p.m. VIII. CONTINUED BUSINESS None IX. OLD BUSINESS A. REQUEST FOR APPROVAL OF LEASE AGREEMENT NO. RD-362 WITH THE FAMILY YMCA/YOUTH CENTER FOR USE OF THE COMMUNITY CENTER TO BE CONSTRUCTED ON THE CIVIC CENTER SITE. Mr. Ortega reviewed the staff report, noting that the YMCA had asked that the Board withhold action on this item for two weeks in order for them to look at the agreement in more detail. He said the report outlined the major provisions of the agreement, and he offered to answer any questions. Upon question by Member Crites relative to whether or not the lease could be terminated by the Agency Board after the initial 10-year period, Mr. Ortega responded that the agreement would remain in effect as long as both parties perform to its terms. He said basically the agreement provided that a annual performance evaluation would be done from the third year on, and if the YMCA is performing to the terms of the agreement, the Agency could not just end it. Member Snyder moved to continue this matter to the meeting of May 12, 1989. Motion was seconded by Kelly and carried by unanimous vote of the Agency Board. B. REQUEST FOR AWARD OF CONTRACT NO. RD-363 FOR CONSTRUCTION OF THE NORTH PORTOLA STORM DRAIN BY THE COACHELLA VALLEY WATER DISTRICT. Mr. Ortega noted that there was a memo in the packets and offered to answer any questions. He stated that there was a significant difference between the low bidder and the next lowest bidder. The low bidder had since come back stating there was a clerical error in the bid. Therefore, 4 MINUTES JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY eh AND THE PALM DESERT FINANCING AUTHORITY APRIL 27, 1989 . . . . . • . . . • . . . . . . . . • . . . * • . the Coachella Valley Water District had recommended that the project be rebid. Member Snyder moved to, by Minute Motion, concur with the recommendation of the Coachella Valley Water District that this project be rebid. Motion was seconded by Kelly and carried by unanimous vote of the Agency Board. X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. EXECUTIVE DIRECTOR None B. AGENCY COUNSEL None C. CHAIRMAN AND MEMBERS OF THE AGENCY None XI. ADJOURNMENT Member Crites moved to adjourn to Closed Session at 7:52 p.m. pursuant to Government Code Section 54956.8, Real Property Transactions and 54956.9 (a) and (b), Pending and Potential Litigation. Motion was seconded by Kelly and carried by unanimous vote of the Agency Board. Chairman Wilson reconvened the meeting at 8:40 p.m. and immediately adjourned with no action announced from Closed Session. ATTEST: SHEILA R. GILL GAN, SECR RY TO THE PALM DESERT REVELOPME AGENCY 5 Y W 1tSON, CHAT ' AN