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HomeMy WebLinkAbout2002-07-16MINUTES ADJOURNED JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND PALM DESERT FINANCING AUTHORITY TUESDAY, JULY 16, 2002 3:30 P.M. CIVIC CENTER COUNCIL CHAMBER I. CALL TO ORDER Chairman/President Kelly convened the meeting at 3:35 p.m. II. ROLL CALL Present: Vice ChairNice President Jean M. Benson Member/Commissioner Buford A. Crites Member/Commissioner Jim Ferguson Member/Commissioner Robert A. Spiegel Chairman/President Richard S. Kelly Also Present: Carlos L. Ortega, City Manager/RDA Executive Director Sheila R. Gilligan, ACM for Community Services Homer Croy, Acting ACM for Development Services Justin McCarthy, ACM for Redevelopment Rachelle D. Klassen, City Clerk Paul S. Gibson, Director of Finance/City Treasurer Dennis Coleman, Redevelopment Finance Manager III. ORAL COMMUNICATIONS None IV. PUBLIC HEARINGS A. REQUEST FOR APPROVAL OF ACTIONS RELATED TO THE PALM DESERT FINANCING AUTHORITY'S SALE AND ISSUANCE OF TAX ALLOCATION REFUNDING REVENUE BONDS (PROJECT AREA NO. 2), SERIES 2002. Mr. Coleman explained that the Redevelopment Agency and Financing Authority already took action on the subject bond issue at their meetings of May 23, 2002. He said a public hearing was held, the Agency adopted a resolution making significant findings, and the Financing Authority adopted a similar resolution authorizing the sale of bonds. In finalizing the transaction MINUTES ADJOURNED JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND PALM DESERT FINANCING AUTHORITY J U LY 16, 2002 checklist for official actions, he said it was discovered that there was not a proof of publication from the Desert Sun for the legal notice announcing the public hearing on May 23; and the bond deal could not be closed without it. He said records were checked; the notice was e-mailed to the Desert Sun in a timely fashion, but for whatever reason, it never made the publication. He presented a copy of a proof of publication for the notice of today's public hearing, which was published on July 11. Therefore, the Agency/Financing Authority Boards were requested to hold the public hearing again in order to meet the requirements for closing the bond transaction. Chairman/President Kelly declared the public hearing open and invited testimony FAVORING or OPPOSING the subject issuance of bonds. With no public testimony offered, he declared the public hearing closed. Mr. Coleman commented that with the Agency/Authority Board's approval of the recommended resolutions, the bond sale could be closed tomorrow, refinancing the bonds with $1,177,000 in new funds to be realized at the same amount of debt service. Member/Commissioner Spiegel moved to waive further reading and adopt: 1) Redevelopment Agency Resolution No. 451, making the finding of significant public benefit in connection with the sale and issuance of Tax Allocation Refunding Revenue Bonds (Project Area No. 2), Series 2002, of the Palm Desert Financing Authority; 2) Financing Authority Resolution No. FA-38, acknowledging finding of significant public benefit in connection with the sale and issuance of the Authority's Tax Allocation Refunding Revenue Bonds (Project Area No. 2), Series 2002. Motion was seconded by Vice ChairNice President Benson and carried by unanimous vote. Mr. Ortega announced that he had an item of business that required action prior to the next meeting. He stated that it was related to his trip earlier this year to Aspen, Colorado, as part of the California Energy Coalition. Member/Commissioner Spiegel moved to add the following matter to this agenda. Motion was seconded by Member/Commissioner Crites and carried by unanimous vote. 2 MINUTES ADJOURNED JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND PALM DESERT FINANCING AUTHORITY J U LY 16, 2002 CONSIDERATION OF REQUEST FOR OUT-OF-STATE TRAVEL FOR PARTICIPATION IN THE ASPEN ACCORD'S CONFERENCE, "ALIGNING ENERGY POLICY WITH THE PEOPLE," TO BE HELD AUGUST 5-6, 2002, IN GOTHENBURG, SWEDEN. Mr. Ortega explained that along with five other cities, Palm Desert had been successful in obtaining a grant in excess of $3 million from the California Public Utilities Commission (CPUC). Over the next two years, Palm Desert will receive approximately $600,000 of those funds. He said the California Energy Coalition and the City of Gothenburg, Sweden, had joined together in an effort to develop programs for their respective jurisdictions that faced similar issues; the Lord Mayor and Director of Utilities from Gothenburg participated in the conference held in Aspen. Therefore, it was requested that a couple of City staff members be authorized to participate in the subject conference in an amount not to exceed $6,000. Responding to question, Mr. Ortega stated that a report would be presented in August, outlining the programs to be implemented. Further, he confirmed that Palm Desert was the only Coachella Valley city receiving grant funds, and it was the California Energy Coalition that brought together the six cities that applied jointly to the CPUC for a grant totaling over $3 million. To date, the Cities of Irvine and Santa Monica were sending representatives, and representatives from the California Legislature, the CPUC, Southern California Edison, Pacific Gas & Electric, and from the California Energy Coalition had committed to participating in Gothenburg. Member/Commissioner Spiegel moved to, by Minute Motion, approve the request for out-of-state travel for two staff members to attend The Aspen Accord's Conference, "Aligning Energy Policy With The People," to be held August 5-6, 2002, in Gothenburg, Sweden, in an amount not to exceed $6,000. Motion was seconded by Member/Commissioner Ferguson and carried by unanimous vote. 3 MINUTES ADJOURNED JOINT MEETING OF THE PALM DESERT REDEVELOPMENT AGENCY AND PALM DESERT FINANCING AUTHORITY V. ADJOURNMENT J U LY 16, 2002 Upon a motion by Member/Commissioner Spiegel, second by Member/Commissioner Crites, and unanimous vote of the Agency/Authority Boards, Chairman/President Kelly adjourned the meeting at 3:45 p.m. A/17 RICi-1ARD S. KELLY., CI-AIRMAN/P/ESIDENT ATTEST: R HELLE D. KLASSEN, SECRETARY TO THE e. PALM DESERT REDEVELOPMENT AGENCY AND PALM DESERT FINANCING AUTHORITY 4