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HomeMy WebLinkAbout1982-08-12MINUTES PALM DESERT REDEVELOPMENT AGENCY MEETING THURSDAY, AUGUST 12, 1982 CITY HALL COUNCIL CHAMBERS * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * I. CALL TO ORDER Chairman Wilson called the meeting to order at 9:47 p.m. II. ROLL CALL Present: Absent: Vice Chairman Alexis D. Newbrander Member Romeo S. Puluqi Member Walter H. Snyder Chairman S. Roy Wilson Also Present: Member James E. McPherson Martin J. Bouman, Executive Director Carlos L. Ortega, Assistant City Manager William Strausz, Agency Counsel Ramon Diaz, Director of Environmental Services Barry McClellan, Director of Public Works Paul Byers, Director of Finance Sheila Gilligan, Agency Secretary III. CONSENT CALENDAR A. MINUTES of the Redevelopment Agency Adjourned Meeting of July 15, 1982. Rec: Approve as presented. B. MINUTES of the Redevelopment Agency Meeting of July 22, 1982. Rec: Approve as presented. C. CLAIMS AND DEMANDS AGAINST THE AGENCY TREASURY - Demand for June, 1982. Rec: Approve as presented. Mr. Bouman noted the Agency Secretary had requested that Items A and B be continued to the meeting of August 26. Upon motion by Snyder, second by Newbrander, and unanimous vote of the Members present, Item C of the Consent Calendar was approved as presented. IY. v. PUBLIC HEARINGS None RESOLUTIONS A. RESOLUTION NO. 151B - A RESOLUTION OF THE REDEVELOPMENT AGENCY ADOPTING A PROJECT BUDGET FOR THE FISCAL YEAR JULY 1, 1982, THROUGH JUNE 30, 1983. Mr. Bouman requested this item be continued to the adjourned meeting MINUTES REDEVELOPMENT AGENCY MEETING AUGUST 12, 1982 **************** * * * * * * * * * * * * * * * * of August 19th. Upon motion by Snyder, second by Puluqi, Resolution No. 151E was continued to the meeting of August 19, 1982, by unanimous vote of the Agency Members present. Mr. Bouman requested that the Agency approve payment of two bills until such time as the budget was adopted. Member Newbrander moved to approve payment of $4,800 to Metzger do Associates and $643 to Les Pricer, Agency Consultant. Member Snyder seconded the motion; carried unanimously by the Members present. B. RESOLUTION NO. 152 - A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF PALM DESERT, CALIFORNIA, AMENDING THE BYLAWS OF THE AGENCY. Mr. Strausz explained that the amendment provided for the Chairman, Executive Director or Treasurer sign warrants. Upon motion by Puluqi, second by Newbrander, Resolution No. 152 was adopted by unanimous vote of the Members present. C. RESOLUTION NO. 153 - A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY APPROVING PAYMENT BY THE ' AGENCY OF ALL OR PART OF THE COST OF CERTAIN PUBLIC IMPROVEMENTS. Mr. Strausz reviewed the provisions of the resolution pointing out that it approved payment by the Agency for the cost of the flood control improvements as in the Bechtel Plan. He recommended adoption. Upon motion by Newbrander, second by Puluqi, Resolution No. 153 was adopted by unanimous vote of the Members present. D. RESOLUTION NO. 154 - A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF TAX ALLOCATION BONDS OF THE AGENCY TO AID IN THE FINANCING OF A PORTION OF THE COST OF A REDEVELOPMENT PROJECT. Mr. Strausz reviewed the provisions of the resolution noting that it provided for the issurance of tax allocation bonds by the Agency to finance the construction of the flood control facilities. The resolution constitutes a contract with the bond holders and generally provides for issuance of bonds and creation of various funds within which the tax revenues are placed each year for principal and interest on the bonds. He recommended adoption. Upon motion by Puluqi, second by Newbrander, Resolution No. 154 was adopted by unanimous vote of the Members present. E. RESOLUTION NO. 155 - A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY DETERMINING TO ISSUE $15,000,000 BONDS, ISSUE OF 1982, OF THE AGENCY AND PROVIDING FOR CERTAIN DETAILS OF THE BONDS. Mr. Strausz stated this resolution provides for the issuance of the total principal amount of $15,000,000 and further provides for the maturity schedule of annual principal payments over 15 years. He recommended aodption. Upon motion by Newbrander, second by Puluqi, Resolution No. 155 was adopted by unanimous vote of the Members present. F. RESOLUTION NO. 156 - A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY PROVIDING FOR THE SALE OF $15,000,000 PRINCIPAL AMOUNT OF TAX ALLOCATION BONDS, ISSUE OF 1982, OF THE AGENCY. -2- MINUTES REDEVELOPMENT AGENCY MEETING AUGUST 12, 1982 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Mr. Strausz reported this resolution generally provided for the sale of the bonds and approves the form of a notice inviting bids for the bonds. The notice requires bides to be received on August 26, 1982, and delivery of bonds and payment or or before September 8th. Additionally, it approved a draft Official Statement which is to be further revised. He recommended adoption. Upon motion by Newbrander, second by Puluqi, Resolution No. 156 was adopted by unanimous vote of the Members present. VI. NEW BUSINESS A. REQUEST FOR APPROVAL OF AGREEMENT WITH RANCHO MIRAGE REDEVELOPMENT AGENCY FOR CONTRIBUTION TO THE PALM VALLEY CHANNEL. Mr. Ortega reported that the Agency had requested the C.V. Water District provide a cost for that portion of the project attributable to Rancho Mirage. The cost submitted was $326,000. Rancho Mirage's Redevelopment Agency has accepted this and approved it stating the method and conditions under which that contribution will be made. Member Puluqi moved to approve the proposed Agreement for the contribution of $326,000 by the Rancho Mirage Redevelopment Agency for its fair share of the Palm Valley Channel. Member Newbrander seconded the motion. Motion carried unanimously by the Members present. Mr. Bouman requested a motion from the Agency Board whereby the Executive Director would be directed to immediately retire the existing Agency loan with City National Bank, the balance of which is approximately $922,000. The Executive Director would present the Redevelopment Agency Board (and City Council, if necessary) with a 1982-83 fiscal year budget on August 19, 1982, said budget reflecting the loan retirement and such other revenue/expenditure features as may be needed to carry forth the Agency Capital Improvement Program. Moved by Newbrander, seconded by Puluqi, and carried by unanimous vote of the Members present. • VII. OLD BUSINESS None VI I. CONSENT ITEMS HELD OVER IX. X. None ORAL COMMUNICATIONS None REPORTS AND REMARKS A. EXECUTIVE DIRECTOR LOAN AGREEMENT WITH THE COACHELLA VALLEY WATER DISTRICT. Mr. Bouman reported that the C.V. Water District Board of Directors had approved the subject agreement at their meeting of August 10, 1982. This is a loan agreement whereby the Water District would advance a sum not to exceed $2.3 Million to apply to the cost of construction of the Bechtel Plan. The Agency promises to repay that advance with no interest. Staff recommended approval. Member Puluqi moved and Member Newbrander seconded to approve the agreement and authorize the Chairman and Secretary to execute. Motion carried unanimously by the Members present. -3- MINUTES REDEVELOPMENT AGENCY MEETING AUGUST 12, 1982 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * XI. B. AGENCY COUNSEL None C. CHAIRMAN AND MEMBERS OF THE AGENCY N one ADJOURNMENT Upon motion by Puluqi, second by Newbrander, and unanimous vote of the Members present, Chairman Wilson adjourned the meeting to 7:00 p.m. on Thursday, August 19, 1982. ATTEST: Y yheLSON, CHAIRMA SHEILA R. GILLIGAN, SECRETARY TO THE PALM DESERT REDEVELOPMENT AGENCY -4-