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Home My WebLink About1994-01-27MINUTES REGULAR PALM DESERT REDEVELOPMENT AGENCY MEETING THURSDAY, JANUARY 27, 1994 CIVIC CENTER COUNCIL CHAMBER * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * I. CALL TO ORDER Chairman Wilson convened the meeting at 5:15 p.m. H. ROLL CALL Present: Member Jean M. Benson Vice Chairman Buford A. Crites Member Richard S. Kelly Member Walter H. Snyder Chairman S. Roy Wilson Also Present: Carlos L. Ortega, ACM/Executive Director Bruce A. Altman City Manager David J. Erwin, City Attorney Mary P. Frazier, Assistant Secretary Ramon A. Diaz, ACM/Director of Community Development Richard J. Folkers, ACM/Director of Public Works Paul Shillcock, ACM/Director of Economic Development Dave Millheim, Director of Human Resources Paul Gibson, Director of Finance Wayne Ramsey, Acting Director of Code Compliance Pat Conlon, Director of Building and Safety Catherine Sass, Community Arts Manager Larry McAllister, General Services Director Ken Weller, Emergency Services Director John Wohlmuth, Environmental Conservation Manager M. CONSENT CALENDAR A. MINUTES of the Regular Meeting of the Redevelopment Agency of January 13, 1994. Rec: Approve as presented. MINUTES PALM DESERT REDEVELOPMENT AGENCY MEETING JANUARY 27, 1994 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B. CLAIMS ANP DEMANDS AGAINST THE AGENCY TREASURY - Warrant Nos. 30, 31, and 33. Rec: Approve as presented. C. REQUEST FOR APPROVAL of Expenditures for Arbitrage Rebate Computations for Agency's Bond Issues. Rec: By Minute Motion, approve an expenditure not to exceed $15,000 with Muni Financial Services, Inc. for arbitrage rebate computations for Agency's bond issues. D. REQUEST FOR APPROVAL of Extension of Audit Services for Fiscal Year Ending June 30, 1994, with Diehl, Evans & Company in Joint Venture with Oscar Armijo, CPA, for City of Palm Desert and Palm Desert Redevelopment Agency, with Audit Services to Include Transient Occupancy Tax Audit for the City of Palm Desert (Contract No. C06281). Rec: By Minute Motion, approve the extension of audit services for the fiscal year ending June 30, 1994, with Diehl, Evans and Company in joint venture with Oscar Armijo, CPA, for the City of Palm Desert and the Palm Desert Redevelopment Agency, with audit services to include transient occupancy tax audit for the City. E. REQUEST FOR AUTHORIZATION to Advertise and Call for Bids for Site Work at the New Corporation Yard (Contract No. R08240). Rec: By Minute Motion, authorize the City Clerk to advertise and call for bids for the subject project. Upon motion by Snyder, second by Crites, the Consent Calendar was approved as presented by unanimous vote of the Agency Board. IV. ORAL COMMUNICATIONS None V. RESOLUTIONS None VI. CONSENT ITEMS HELD OVER None 2 MINUTES -. PALM DESERT REDEVELOPMENT AGENCY MEETING JANUARY 27, 1994 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * VII. NEW BUSINESS None VIII. CONTINUED BUSINESS None IX. OLD BUSINESS A. REQUEST FOR CONSIDERATION OF ACTIONS WITH REGARD TO PORTOLA PALMS MOBILEHOME PARK. Mr. Ortega reviewed the staff report, noting that the Agency would like to buy out the first trust deed on the Park which is held by Ring Financial, Inc. He said the $3 million note had been brought down to a balance of approximately $1.5 million with the closing of some 90 spaces, including 43 spaces purchased with the assistance of City/State blended loans and 47 purchased by cash buyers. A bond issue would be utilized at a later date to help pay back the cash that was used in the initial transaction. He requested authorization to purchase that note up to $1.5 million, noting that the private lender was willing to work with the Agency for another week in order to make sure the balance was down to $1.5 million. MR. AMOS SUMMERS, a consultant from San Diego, addressed the Board and stated that they had 38 sales to date, with another 9 in the final closing stage. He added that this should bring the note down to approximately $1.5 million. Member Snyder moved to: 1) By Minute Motion, authorize the Chairman to enter into a $1.5 million cash transaction to purchase the first trust deed from Ring Financial, Inc.; 2) waive further reading and adopt Resolution No. 291 allowing the Agency to initiate a bond issue to repay the cash; 3) by Minute Motion, appropriate $1.5 million from the Low and Moderate Housing Unobligated Reserve Fund to purchase the first trust deed from Ring Financial, Inc. Motion was seconded by Benson and carried by unanimous vote. 3 MINUTES PALM DESERT REDEVELOPMENT AGENCY MEETING JANUARY 27, 1994 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. EXECUTIVE DIRECTOR Mr. Ortega requested a Closed Session at the appropriate time pursuant to Government Code Section 54956.9 (a), pending litigation (Levald v. Palm Desert re: Indian Springs Mobile Home Park; Shearson v. Palm Desert re: Iowa Trust), and 54956.8, real property acquisition (10.2 acres on El Paseo owned by Ahmanson). B. AGENCY COUNSEL Absent C. CHAIRMAN AND MEMBERS OF THE AGENCY None XI. ADJOURNMENT Member Kelly moved to adjourn to Closed Session at 5:23 p.m. pursuant to Government Code Section 54956.9 (a), pending litigation (Levald v. Palm Desert re: Indian Springs Mobile Home Park; Shearson v. Palm Desert re: Iowa Trust), and 54956.8, real property acquisition (10.2 acres on El Paseo owned by Ahmanson). Motion was seconded by Snyder and carried by unanimous vote. Session. Chairman Wilson reconvened the meeting at 8:14 p.m. with no action announced from Closed Member Crites moved to adjourn the meeting at 8:14 p.m. Motion was seconded by Snyder carried by a 4-0-1 vote, with Member Kelly ABSENT. / ATTEST: A. MARY P. THE PALM ZIER, ASSIST'(NT SECRETARY TO ERT REDEVELOPMENT AGENCY OY W iLSON;t4kAIRMAN 4