HomeMy WebLinkAbout2003-04-24MINUTES
PALM DESERT FINANCING AUTHORITY MEETING
THURSDAY, APRIL 24, 2003
CIVIC CENTER COUNCIL CHAMBER
I. CALL TO ORDER
President Benson convened the meeting at 3:01 p.m.
H. ROLL CALL
Present:
Commissioner Buford A. Crites
Commissioner Jim Ferguson
Commissioner Richard S. Kelly
Vice President Robert A. Spiegel
President Jean M. Benson
Also Present:
Carlos L. Ortega, City Manager/RDA Executive Director
David J. Erwin, City Attorney
Sheila R. Gilligan, ACM for Community Services
Homer Croy, ACM for Development Services
Justin McCarthy, ACM for Redevelopment
Amir Hamidzadeh, Director of Building & Safety
Rachelle D. Klassen, City Clerk
Phil Drell, Director of Community Development
Paul S. Gibson, Director of Finance/City Treasurer
Teresa L. La Rocca, Director of Housing
Michael Errante, Acting Director of Public Works/City Engineer
David Yrigoyen, Director of Redevelopment
Robert P. Kohn, Director of Special Programs
Mark Greenwood, Engineering Manager
With Financing Authority Board concurrence, President Benson adjourned the
meeting to Closed Session of the City Council and Redevelopment Agency at 3:03 p.m.
She reconvened the meeting at 4:08 p.m., recessed for Dinner Break and continuation of
the Closed Session at 6:34 p.m., and reconvened the meeting at 7:34 p.m.
III. CONSENT CALENDAR
A. MINUTES of the Financing Authority Meeting of March 13, 2003.
Rec: Approve as presented.
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING APRIL 24, 2003
Upon motion by Crites, second by Ferguson, the Consent Calendar was approved
as presented by a 4-0 vote, with Vice President Spiegel ABSENT.
IV. CONSENT ITEMS HELD OVER
None
V. RESOLUTIONS
None
VI. NEW BUSINESS
None
VII. CONTINUED BUSINESS
None
VIII. OLD BUSINESS
None
IX. PUBLIC HEARINGS
A. REQUEST FOR APPROVAL OF ACTIONS RELATIVE TO THE SALE AND
ISSUANCE OF TAX ALLOCATION REVENUE BONDS (PROJECT AREA
NO. 1 , AS AMENDED) SERIES 2003, OF THE PALM DESERT
FINANCING AUTHORITY (JOINT CONSIDERATION WITH THE
PALM DESERT CITY COUNCIL).
Redevelopment Finance Manager Dennis Coleman reviewed the staff report
and offered to answer any questions.
Mayor/President Benson declared the public hearing open and invited testimony in
FAVOR of or in OPPOSITION to this request. With no testimony offered, she
declared the public hearing closed.
Councilman/Commission Ferguson moved to waive further reading and adopt:
1) City Council Resolution No. 03-57, making a finding of significant public benefit and other
findings in connection with the sale and issuance of Tax Allocation Revenue Bonds (Project
Area No. 1, As Amended), Series 2003, of the Palm Desert Financing Authority;
2) Financing Authority Resolution No. FA-42, acknowledging a finding of significant public
benefit in connection with the sale and issuance of the Authority's Tax Allocation Revenue
Bonds (Project Area No. 1, As Amended), Series 2003. Motion was seconded by Kelly and
carried by a 4-0 vote, with Mayor Pro TemporeNice President Spiegel ABSENT.
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PALM DESERT FINANCING AUTHORITY MEETING APRIL 24, 2003
B. REQUEST FOR APPROVAL OF ACTIONS RELATIVE TO THE SALE AND
ISSUANCE OF TAX ALLOCATION REVENUE BONDS (PROJECT AREA
NO. 3), SERIES 2003 (JOINT CONSIDERATION WITH THE
PALM DESERT CITY COUNCIL).
Redevelopment Finance Manager Dennis Coleman reviewed the staff report
and offered to answer any questions.
Mayor/President Benson declared the public hearing open and invited testimony in
FAVOR of or in OPPOSITION to this request. No testimony was offered, and she
declared the public hearing closed.
Councilman/Commissioner Crites moved to waive further reading and adopt: 1) City
Council Resolution No. 03-58, making a finding of significant public benefit and other
findings in connection with the sale and issuance of Tax Allocation Revenue Bonds (Project
Area No. 3), Series 2003, of the Palm Desert Financing Authority; 2) Financing Authority
Resolution No. FA-43, acknowledging a finding of significant public benefit in connection
with the sale and issuance of the Authority's Tax Allocation Revenue Bonds (Project Area
No. 3), Series 2003. Motion was seconded by Ferguson and carried by a 4-0 vote, with
Mayor Pro TemporeNice President Spiegel ABSENT.
C. REQUEST FOR APPROVAL OF ACTIONS RELATED TO THE SALE AND
ISSUANCE OF PALM DESERT FINANCING AUTHORITY TAX
ALLOCATION REVENUE BONDS (PROJECT AREA NO. 1, AS AMENDED),
SERIES 2003 (JOINT CONSIDERATION WITH THE PALM DESERT
REDEVELOPMENT AGENCY).
Redevelopment Finance Manager Dennis Coleman reviewed the staff report
and offered to answer any questions.
Chairman/President Benson declared the public hearing open and invited testimony
in FAVOR of or in OPPOSITION to this request. With no testimony offered, she
declared the public hearing closed.
Councilman/Commissioner Ferguson moved to waive further reading and adopt:
1) Redevelopment Agency Resolution No. 465, approving as to form and authorizing the
execution and delivery of certain documents in connection with the sale and issuance of
Tax Allocation Revenue Bonds (Project Area No. 1, As Amended), Series 2003, of the
Palm Desert Financing Authority; 2) Financing Authority Resolution No. FA-44, authorizing
the sale and issuance of its Tax Allocation Revenue Bonds (Project Area No. 1, As
Amended), Series 2003, appointing a trustee, and approving as to form and authorizing the
execution and delivery of certain documents in connection with the sale and issuance of
said bonds. Motion was seconded by Crites and carried by a 4-0 vote, with Vice
Chairman/Vice President Spiegel ABSENT.
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MINUTES
PALM DESERT FINANCING AUTHORITY MEETING APRIL 24, 2003
D. REQUEST FOR APPROVAL OF ACTIONS RELATED TO THE SALE AND
ISSUANCE OF TAX ALLOCATION REVENUE BONDS (PROJECT AREA
NO. 3), SERIES 2003, OF THE PALM DESERT FINANCING AUTHORITY
(JOINT CONSIDERATION WITH THE PALM DESERT
REDEVELOPMENT AGENCY).
Redevelopment Finance Manager Dennis Coleman reviewed the staff report
and offered to answer any questions.
Chairman/President Benson declared the public hearing open and invited testimony
in FAVOR of or in OPPOSITION to this request. With no testimony offered, she
declared the public hearing closed.
Councilman/Commissioner Ferguson moved to waive further reading and adopt:
1) Redevelopment Agency Resolution No. 466, approving as to form and authorizing the
execution and delivery of certain documents in connection with the sale and issuance of
Tax Allocation Revenue Bonds (Project Area No. 3), Series 2003, of the Palm Desert
Financing Authority; 2) Financing Authority Resolution No. FA-45, authorizing the sale and
issuance of its Tax Allocation Revenue Bonds (Project Area No. 3), Series 2003; appointing
a trustee, and approving as to form and authorizing the execution and delivery of certain
documents in connection with the sale and issuance of said bonds. Motion was seconded
by Crites and carried by a 4-0 vote, with Vice ChairmanNice President Spiegel ABSENT.
X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION
A. CHIEF ADMINISTRATIVE OFFICER
None
B. AUTHORITY COUNSEL
None
C. PRESIDENT AND MEMBERS OF THE AUTHORITY
None
XI. ORAL COMMUNICATIONS - C
None
4
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING APRIL 24, 2003
XII. ADJOURNMENT
Commissioner Kelly moved to adjourn the meeting at 11:08 p.m. Motion as
seconded by Crites and carried by a 4-0 vote, with Vice President Spiegel ABSENT.
ATTEST:
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CHELLE D. KLASSEIV, SECRETAR
PALM DESERT FINANCING AUTHORITY
IC (214
. BENSO1 'PRESIDENT
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