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ANNOTATED
MOORPARK REDEVELOPMENT AGENCY
REGULAR MEETING AGENDA
WEDNESDAY, FEBRUARY 17, 1999
7 :00 P.M.
Moorpark Community Center 799 Moorpark Avenue
1. CALL TO ORDER:
7:32 P.M.
2. ROLL CALL:
ALL AGENCY MEMBERS PRESENT
3. PUBLIC COMMENT:
NONE
4. PUBLIC HEARINGS:
S. PRESENTATION /ACTION /DISCUSSION:
A. Consider an Amendment to the Disposition and Development
Agreement with Cabrillo Economic Development Corporation
Related to Attachment No. 4, "Schedule of Performance ". Staff
Recommendation: Approve Amendment No. 1 to the Disposition and
Development Agreement between the Moorpark Redevelopment
Agency and Cabrillo Economic Development Corporation revising
Attachment No. 4 'Schedule of Performance."
APPROVED
B. Consider a Loan Repayment Schedule for Loans from the City of
Moorpark to the Moorpark Redevelopment Agency; and Resolution
No. 99 -76 Amending the Redevelopment Agency Operating Budget
Related to Repayment of Loans to the Agency Capital Fund from
the City General Fund; and Resolution No. 99 -77 Amending the
Redevelopment Agency Operating Budget Related to Repayment of
Loans to the Agency Housing Set -Aside Fund from the City
General Fund. Staff Recommendation: 1) Approve the loan
repayment schedule as recommended by the Council Budget and
S. PRESENTATION /ACTION /DISCUSSION: (Continued)
Redevelopment Agency Agenda
February 17, 1999
Page 2
Finance Committee; 2) Adopt Resolution No. 99 -76 amending the
Moorpark Redevelopment Agency's FY 1998/99 budget by
appropriating $1.5 million from the Agency's Capital Projects
Fund for loan principal repayment; and 3) Adopt Resolution No.
99 -77 amending the Moorpark Redevelopment Agency's FY 1998/99
budget by appropriating $46,202 from the Agency's Housing Set -
Aside Fund for loan principal repayment (ROLL CALL VOTE
REQUIRED).
APPROVED STAFF RECOMMENDATION AND ADOPTED RESOLUTION NO. 99 -76
AND RESOLUTION NO. 99 -77.
C. Consider Action for Removal of Billboard. Staff
Recommendation: Direct staff as deemed appropriate.
DIRECTED STAFF TO WRITE A LETTER TO THE VENTURA COUNTY
TRANSPORTATION COMMISSION (VCTC) REQUESTING THAT THEY NOT
RENEW THE LEASE FOR THE BILLBOARD.
D. Consider Refunding of the 1993 Tax Allocation Bonds with a New
Money Component. Staff Recommendation: 1) Direct staff and
the financing team to proceed with the preparation of
financing documents and to submit said documents to both
Standard & Poor and to various bond insurers; 2) Price the
bonds after formal approval of the financing documents by both
the Agency and the City Council at a meeting to be held in
March; 3) Instruct the financing team that the "new money"
portion is to be at least $1,900,000 prior to pricing the bond
issue; 4) Engage the law firm of Quint & Thimmig to serve as
Bond Counsel; and 5) Engage the firm of Miller & Schroeder
Financial, Inc. to serve as Underwriter.
CONTINUED TO 3/3/99.
6. CONSENT CALENDAR:
A. Consider Approval of Minutes of the November 18, 1998 Regular
Redevelopment Agency Meeting.
Consider Approval of Minutes of the December 2, 1998 Regular
Redevelopment Agency Meeting.
Staff Recommendation: Approve the minutes as processed.
APPROVED
6. CONSENT CALENDAR: (Continued)
Redevelopment Agency Agenda
February 17, 1999
Page 3
B. Consider the FY 1997 -98 Annual Financial Report. Staff
Recommendation: Receive and file the City's Annual Financial
Report for the year ending June 30, 1998.
APPROVED
C. Consider Resolution No. 99 -78 Amending the Redevelopment
Agency's Annual Budget related to expenditures for Accounting
Software Purchase Adjustments for the City's Gas Tax Audit.
Staff Recommendation: Adopt Resolution No. 99 -78 approving an
amendment to the FY 1998/99 Agency budget related to the City
Gas Tax audit and the purchase of accounting software (ROLL
CALL VOTE REQUIRED).
APPROVED STAFF RECOMMENDATION AND ADOPTED RESOLUTION NO. 99-
78.
7. CLOSED SESSION:
8. ADJOURNMENT:
8:00 P.M.