Item 16 - Approval of Minutes
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NOT YET APPROVED
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CITY OF POWAY. CALIFORNIA
MINUTES OF THE POWAY REDEVELOPMENT AGENCY
REGULAR MEETING
OCTOBER 16. 1990
The October 16, 1990, regular meeting of the poway Redevelopment Agency was
called to order at 7:00 p.m. by Chairman Higginson at the City Council Chambers,
13325 Civic Center Drive, Poway, California.
DIRECTORS ANSWERING ROLL CALL
Bob Emery, Jan Goldsmith, Carl Kruse, Don Higginson
DIRECTORS ABSENT AT ROLL CALL
Linda Brannon (Director Brannon arrived at 7:03 p.m.)
STAFF MEMBERS PRESENT
James Bowersox Executive Director
John Fitch Assistant Executive Director
Marjorie Wahlsten Secretary
Nancy Neufeld Deputy' Secretary
PLEDGE OF ALLEGIANCE
Director Goldsmith led the Pledge of Allegiance.
ITEM 20A
CITY ATTORNEY ITEMS
City Attorney Eckis stated he is requesting a closed session under Government
Code 554956.8 to give instructions to negotiator regarding terms and conditions
for acquisition of Poway Royal Mobile Estates. The negotiators will be the City
Attorney and Executive Director on behalf of the Agency, and Charles Black, the
attorney of record for the present owner of the mobile home park.
CLOSED SESSION
Chairman Higginson called for a closed session at 7:40 p.m. as requested by the
City Attorney.
CALL TO ORDER
Chairman Higginson ca 11 ed the meeting back to order at B:05 p.m. with all
Directors present and announced that in closed session the Board gave instruc-
tions to their negotiator.
NOV 201990 ITEM 16
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Page 2 - POWAY REDEVELOPMENT AGENCY - October 16, 1990
ITEM 6
ACQUISITION OF POWAY ROYAL MOBILE ESTATES
Chairman Higginson stated that the public hearing was continued from September
11, 1990. Staff report by Executive Director Bowersox. On April 25, 1989, the
Agency directed staff to initiate negotiations with the owners of poway Royal
Mobile Estates for the possible purchase of the park by the Redevelopment
Agency. After more than a year of unsuccessful attempts to enter purchase nego-
tiations, a resolution of necessity to acquire the mobile home park under emi-
nent doma in proceedi ngs was noti ced for publi c heari ng. Prior to the public
heari ng, the Agency and the park owner entered into negotiations. Executive
Oirector Bowersox stated that the negotiators have reached an agreement for the
purchase of the Poway Royal Mobile Estates in the amount of $21,600,000. City
Attorney Eckis stated that the eminent domain action would not be necessary and
recommended removing the resolution of necessity from the calendar.
The purchase of the mobile home park by the Redevelopment Agency is for the pur-
pose of ensuring the long-tenn affordability of spaces in the park to households
of low- and moderate-income. Costs would be paid by space rents collected and
the use of housing "set-aside" monies to fund the shortfall. The fi nanci ng of
the purchase would be through the sale of Certificates of Participation which
will be presented for approval at a later date.
The purchase agreement provides for the deferral to March I, 1991 of a December
I, 1990 rent increase noticed by the park owner. If escrow closes on or before
March 1, 1991, the portion of the rent which has been deferred will be excused
and the rents will be established at $416.00 a month. If escrow does not close,
the defe rred po rt i on wi 11 be payable to the seller. In acco rdance with the
purchase agreement, staff anticipates escrow closing no sooner than December 17,
1990, and not later than March I, 1991. '
Staff recommends that the Ci ty Council/Redevelopment Agency close the publ i c
hearing, issue a Negative Declaration, adopt Benefit Resolutions, and authorize
the execution of the purchase agreement for $21,600,000.
Speaking in favor of staff recommendation:
B111 Ghiselin, 13046 Bonita Vista, representing poway Royal Estates
Homeowners Association, requested two workshops be held with all poway
Royal residents to explain the proceedings.
Alan Sugannan, 133B5 Fallen Leaf Road
Speaking in opposition to staff recommendation:
Catherine Rodman, 216 S. Tremont Street, Oceanside, attorney for Legal Aid
Society, spoke regarding the use of low and moderate income housing
funds to purchase the park.
Motion by Director Kruse, seconded by Director Goldsmith, to close the public
hearing, issue a Negative Declaration, authorize the execution of the purchase
agreement, and adopt Resolution No. R-90-37 entitled, "A Resolution of the Poway
Redevelopment Agency, Approving the Acquisition of Real Property in the paguay
Redevelopment Project Area, Making Findings of Environmental Impact, and
Authorizing the Execution of an Acquisition Agreement." Motion carried unani-
mously.
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Page 3 - POWAY REDEVELOPMENT AGENCY - October 16, 1990
RECESS AND CALL TO ORDER
Chairman Higginson recessed the meeting at 8:40 p.m., and ca 11 ed it back to
order at 8:45 p.m., with all Directors present.
ITEM 11
TAX EQUITY & FISCAL RESPONSIBILITY ACT
Cha i rman Higginson opened the public hearing. Staff repo rt by Executive
Di rector Bowersox. Staff has prepared a report in comp 1 i ance with the Tax
Reform Act of 1986 which requires a Tax Equity and Fiscal Responsibi 1 ity Act
heari ng for refunding of prior bond issues to di sc1 ose the governmental and
nongovernmental purposes for which the proceeds of each bond issue were spent.
Staff recommends approval of the issuance of refunding bonds for 1985 and 1986
Tax Allocation Bonds in order to increase funds available for redevelopment pur-
poses.
There was no one present wishing to speak.
Motion by Director Kruse, seconded by Director Emery, to close the publ i c
heari ng and approve the issuance of refunding bonds. Motion carried unalli-
mous1y.
ITEM 12
REFUNDING TAX ALLOCATION BONDS SERIES 1985 & 1986
Staff report by Executive Director Bowersox. Staff is recommending the issuance
of Tax Allocation Refunding Bonds for Series 1985 and 1986 in an amount not to
exceed $23,000,000. The assessed value of the property within the Agency
Project Area has increased with the tax increment generated resulting in the
bond debt service being covered by over 2.5 times. In order to proceed with the
issuance of tax allocation refunding bonds, staff recommends app rova 1 of
agreements with Security Pacifi c National Bank for Indenture of Trust and
Escrow; and Bond Purchase Agreement with PaineWebber. This bond transaction
will be completed only if the interest rates remain low and there continues to
be a positive financial benefit to the Agency.
Motion by Director Kruse, seconded by Director Emery, to approve staff recommen-
da t ion, and adopt Reso 1 ut i on No. R-90-38 ent it 1 ed, "A Resolution of the poway
Redevelopment Agency Authorizing the Issuance of Tax Allocation Refunding Bonds
of Said Agency in a Principal Amount Not to Exceed Twenty-Three Million Dollars
($23,000,000) to Finance Costs Relating to a Redevelopment Project Known as the
paguay Redevelopment Project and Approving Certain Documents and Taking Certain
Other Actions in Connection Therewith." Motion carried unanimously.
NOV 201990 ITEM 16
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Page 4 - POWAY REDEVELOPMENT AGENCY - October 16, 1990
ADJOURNMENT
Upon motion by Director Kruse, seconded by Director Brannon, Chainman Higginson
ordered the meeting adjourned to 4:30 p.m., Thursday, October 18. 1990. The
time of adjournment was 12:35 a.m., October 17, 1990.
Marjorie K. Wahlsten, Secretary
poway Redevelopment Agency
NOV 201990 ITEM 16
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CITY OF POWAY. CALIFORNIA
MINUTES OF THE POWAY REDEVELOPMENT AGENCY
ADJOURNED REGUlAR MEETING
OCTOBER 18. 1990
The October 18, 1990, meeting of the Poway Redevelopment Agency adjourned
from the October 16, 1990, regular meeting, was called to order at 4:44 p.m. by
Cha i rman Higginson at the City Council Chambers, 13325 Ci vi c Center Dri ve,
Poway, California.
DIRECTORS ANSWERING ROLL CALL
Linda Brannon, Jan Goldsmith, Carl Kruse, Don Higginson
DIRECTORS ABSENT AT ROLL CALL
Bob Eme ry
STAFF MEMBERS PRESENT
James Bowersox Executive Director
Marjorie Wahlsten Secretary
There were no redevelopment matters discussed.
ADJOURNMENT
Upon motion by Director Brannon, seconded by Director Kruse, Chairman Higginson
ordered the meeting adjourned. The time of adjournment was 8:30 p.m.
Marjorie K. Wahlsten, Secretary
Poway Redevelopment Agency
ML171RCP4
NOV 201990 ITEM 1b
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