HomeMy WebLinkAboutAG 1999 0317 RDA REGEN
`( ESTABLISHED
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ANNOTATED
MOORPARK REDEVELOPMENT AGENCY
REGULAR MEETING AGENDA
WEDNESDAY, MARCH 17, 1999
7:00 P.M.
Moorpark Community Center 799 Moorpark Avenue
1. CALL TO ORDER:
9:50 P.M.
2. ROLL CALL:
ALL AGENCY MEMBERS PRESENT
3. PUBLIC COMMENT:
4. PUBLIC HEARINGS:
5. PRESENTATION /ACTION /DISCUSSION:
A. Consider Refunding of the 1993 Tax Allocation Bonds with a New
Money Component. (Continued from March 3, 1999) 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 (option 6 of the attached); 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 April;
3) Instruct the financing team that the "new money" portion is
to be at least $1,950,000 prior to pricing the bond issue; 4)
Enter into an Agreement with the law firm of Quint & Thimmig
to serve as Bond Counsel subject to approval of the Executive
Director and Legal Counsel, and authorize the Executive
Director to sign said agreement; and 5) Enter into an
Agreement with the firm of Miller & Schroeder Financial, Inc.
to serve as Underwriter subject to approval of the Executive
Director and Legal Counsel, and authorize the Executive
Director to sign said Agreement. (ROLL CALL VOTE REQUIRED)
APPROVED OPTION NO. 3 IN STAFF REPORT AND STAFF
RECOMMENDATIONS NOS. 2 THROUGH 5
Redevelopment Agency Agenda
March 17, 1999
Page 2
B. Consider Purchase of Mortgage Loan for Moorpark Playhouse.
Staff Recommendation: Direct staff as deemed appropriate.
CONTINUED TO APRIL 21, 1999; A STRUCTURAL REVIEW AND REPORT IS
TO BE COMPLETED FOR A COST NOT TO EXCEED $5,000 AND CONTINGENT
ON THE RESULTS, AN APPRAISAL MAY THEN BE ORDERED TO DETERMINE
THE VALUE OF THE PROPERTY.
6. CONSENT CALENDAR:
A. Consider Notice of Completion for Alley Improvements Phase 2.
Staff Recommendation: Adopt Resolution No. 99- approving
an amendment to the FY 1998/99 Budget by increasing the
appropriation and budget for the subject project from $54,000
to $55,000 ($1,000 increase). (ROLL CALL VOTE REQUIRED)
APPROVED STAFF RECOMMENDATION AND ADOPTED RESOLUTION NO. 99 -79
7. CLOSED SESSION:
A. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION
Significant exposure to litigation pursuant to Subdivision (b)
of Section 54956.9 of the Government Code: (Number of cases to
be discussed - 4)
8. ADJOURNMENT:
11:15 P.M.