HomeMy WebLinkAbout2006-12-14MINUTES
PALM DESERT FINANCING AUTHORITY MEETING
THURSDAY, DECEMBER 14, 2006
CIVIC CENTER COUNCIL CHAMBER
I. CALL TO ORDER
President Ferguson convened the meeting at 3:01 p.m.
II. ROLL CALL
Present:
Commissioner Jean M. Benson
Commissioner -elect Cindy Finerty
Vice President Richard S. Kelly
Commissioner Robert A. Spiegel
President Jim Ferguson
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
Stephen Y. Aryan, Assistant to the City Manager
Rachelle D. Klassen, City Clerk
Amir Hamidzadeh, Director of Building & Safety
Phil Drell, Director of Community Development
Patrick Conlon, Director of Office of Energy Management
Paul S. Gibson, Director of Finance/City Treasurer
Doug Van Gelder, Director of Information Systems
Mark Greenwood, Director of Public Works
David Yrigoyen, Director of Redevelopment & Housing
Frankie Riddle, Director of Special Programs
Jorge Rodriguez, Fire Marshal/Battalion Chief, Palm Desert Fire Dept./Riv. Co. Fire
Frank Taylor, Asst. Chief, Palm Desert Police/Riverside Co. Sheriff's Dept.
Grace L. Mendoza, Deputy City Clerk
Upon a motion by Spiegel, second by Kelly, and 4-0 vote of the Authority
Commission Board, President Ferguson adjourned the meeting to Closed Session of the
City Council and Redevelopment Agency at 3:04 p.m. He reconvened the meeting at
4:01 p.m.
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING DECEMBER 14, 2006
III. CONSENT CALENDAR
A. MINUTES of the Financing Authority Meeting of November 16, 2006.
Rec: Approve as presented.
Upon motion by Spiegel, second by Ferguson, the Consent Calendar was approved
as presented by a 5-0 vote of the Authority Commission Board.
IV. CONSENT ITEMS HELD OVER
None
V. RESOLUTIONS
None
VI. NEW BUSINESS
None
VII. CONTINUED BUSINESS
None
VIII. OLD BUSINESS
None
2
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING DECEMBER 14, 2006
IX. PUBLIC HEARINGS
A. REQUEST FOR APPROVAL OF ACTIONS, INCLUDING MAKING
FINDINGS, APPROVING AS TO FORM AND AUTHORIZING THE
EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS, AND
ACKNOWLEDGING A FINDING OF SIGNIFICANT BENEFIT IN
CONNECTION WITH THE ISSUANCE, SALE, AND DELIVERY OF THE
PALM DESERT FINANCING AUTHORITY'S TAX ALLOCATION (HOUSING
SET -ASIDE) REFUNDING REVENUE BONDS, SERIES 2007, AND
AUTHORIZING CERTAIN OTHER MATTERS RELATING THERETO
(JOINT CONSIDERATION WITH THE PALM DESERT CITY COUNCIL AND
THE PALM DESERT REDEVELOPMENT AGENCY).
Mr. Ortega referred to staff report and stated Bond Counsel, City and Agency
staff, and the Financial Consultant were available to answer questions. The
Agency was requesting authority for the issuance of bonds composed of two
components: new money and refunding of small bonds. In answer to
question, if it was for low and moderate housing, he said it was.
Mayor Kelly declared the publichearing open and invited anyone who wished to
come forward to speak on the subject to do so at this time. With no testimony
offered, he declared the public hearing closed.
Member/Councilman Spiegel moved to, by Minute Motion, waive further reading and
adopt: 1) City Council Resolution No. 06-155, making a finding of significant public benefit
and other findings in connection with the issuance and sale of the Palm Desert Financing
Authority Tax Allocation (Housing Set -Aside) Refunding Revenue Bonds, Series 2007 (the
"Bonds"); 2) Financing Authority Resolution No. FA-60, acknowledging finding of significant
public benefit in connection with the issuance and sale of the Bonds, approving of the
issuance, sale, and delivery of the Bonds, and authorizing the execution and delivery of
documents relating to the Bonds; 3) Redevelopment Agency Resolution No. 536,
approving and authorizing the execution and delivery of documents relating to the Bonds.
Motion was seconded by Ferguson and carried by a 5-0 vote.
X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION
A. CHIEF ADMINISTRATIVE OFFICER
None
B. AUTHORITY COUNSEL
None
3
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING DECEMBER 14, 2006
C. PRESIDENT AND MEMBERS OF THE AUTHORITY
None
Note: At the Regular City Council Meeting of this date, the annual rotation of Mayor and
Chairman of the Redevelopment Agency took place, with Mayor Pro TemNice Chairman
Kelly being appointed to serve as Mayor/Chairman for the coming year and
Councilmember/Member Benson being appointed to serve as Mayor Pro TemNice
Chairman.
XI. ADJOURNMENT
With Authority Commission Board concurrence, President Kelly adjour
meeting at 7:15 p.m.
ATTEST:
RA H LED. KLASSE , SECRETARY
PALM DESERT FINANCING AUTHORITY
RDS.
ed the
PRES %" NT
4