HomeMy WebLinkAboutMIN 2002 1017 RDA ADJMINUTES OF THE REDEVELOPMENT AGENCY
Moorpark, California
October 17, 2002
An Adjourned Meeting of the Redevelopment Agency of the City of
Moorpark was held on October 17, 2002, in the Community Center of
said City located at 799 Moorpark Avenue, Moorpark, California.
1. CALL TO ORDER:
Chair Hunter called the meeting to order at 7:02 p.m.
2. ROLL CALL:
Present: Agency Members Harper, Mikos, Millhouse,
Wozniak, and Chair Hunter.
Staff Present: Steven Kueny, Executive Director; Joseph
Montes, Agency Counsel; Hugh Riley, Assistant
Executive Director; Nancy Burns, Senior
Management Analyst; and Deborah Traffenstedt,
Agency Secretary.
3. PUBLIC COMMENT:
None.
4. PRESENTATION /ACTION /DISCUSSION:
A. Consider Authorizing $400,000 Loan from Redevelopment
Agency Capital Improvement Tax Increment Fund Account No.
2902 to Janss IV Recreation for Acquisition of 11 -17 East
High Street. Staff Recommendation: Approve $400,000 loan
from Redevelopment Agency Capital Projects Fund 2902 to
Janss IV Recreation for the acquisition of 11 -17 East
High Street, terms of which loan to be three percent (30)
fixed for five (5) years, providing interest rate to be
based on LAIF rate following the initial five years, and
capped for the remainder of the term at six percent (60),
such loan to be secured by a First Trust Deed on the
subject property with additional security in the form of
corporate and personal financial guarantees, with loan
terms and security agreement subject to final language
approval by the Executive Director and Agency Counsel,
and terms of such loan to be identified in Promissory
Note and Loan Agreement.
Mr. Kueny gave the staff report.
Mayor Hunter reminded the Council of his previous concern
that Redevelopment Funds would be more appropriate for
Minutes of the Redevelopment Agency
Moorpark, California Page 2 October 17, 2002
this use than CDBG Funds. He stated that he had asked
the Committee to look at this and make a determination,
which has been addressed in the staff report by Mr.
Kueny.
In response to Agency Member Harper regarding any recent
appraisal, Mr. Kueny stated that a recent appraisal and
recent sale of property can be provided to demonstrate the
current market value of the property is currently
$400,000.
Agency Member Mikos stated her pleasure in seeing this
project moving forward again, her support of using
Redevelopment Funds, and the applicant has demonstrated a
commitment to Moorpark.
MOTION: Agency Member Mikos moved and Agency Member Wozniak
seconded a motion to approve a $400,000 loan from
Redevelopment Agency Capital Projects Fund 2902 to Janss IV
Recreation for the acquisition of 11 -17 East High Street,
terms of which loan to be three percent (3 %) fixed for five
(5) years, providing interest rate to be based on LAIF rate
following the initial five years, and capped for the remainder
of the term at six percent (6 %), such loan to be secured by a
First Trust Deed on the subject property with additional
security in the form of corporate and personal financial
guarantees, with loan terms and security agreement subject to
final language approval by the Executive Director and Agency
Counsel, and terms of such loan to be identified in Promissory
Note and Loan Agreement. The motion carried by unanimous voice
vote.
5. CONSENT CALENDAR:
MOTION: Agency Member Wozniak moved and Agency Member Harper
seconded a motion to approve the Consent Calendar. The motion
carried by unanimous roll call vote.
A. Consider Approval of Minutes of Regular Meeting of June
5, 2002. Staff Recommendation: Approve minutes.
6. CLOSED SESSION:
Mr. Kueny requested that the Agency recess the meeting and
reconvene into closed session for a discussion of Item 6.C. at
the conclusion of the City Council meeting.
Minutes of the Redevelopment Agency
Moorpark, California Page 3 October 17, 2002
AT THIS POINT in the meeting, a recess was declared. The time was
7:07 p.m. The meeting reconvened at 8:25 p.m.
MOTION: Agency Member Harper moved and Agency Member Wozniak
seconded a motion to adjourn to closed session for a
discussion of Item 6.C. on the agenda. The motion carried by
unanimous voice vote. The time was 8:25 p.m.
C. CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION
(Subdivision (a) of Section 54956.9)
Mission Bell Plaza Phase II, LLC, a California limited
partnership vs. Redevelopment Agency of the City of
Moorpark (Case No. SCO28906)
AT THIS POINT in the meeting, a recess was declared. The time was
8:25 p.m. The Agency reconvened into closed session at 8:40 p.m.
Present in closed session were Agency Members Harper, Mikos,
Millhouse, Wozniak and Chair Hunter, Steven Kueny, Executive
Director; Joseph Montes, Agency Counsel; Hugh Riley, Assistant
Executive Director; and Deborah Traffenstedt, Agency
Secretary.
The Agency reconvened into open session at 8:58 p.m. Mr.
Kueny announced that Item 6.C. was discussed and that there
was no action to report.
6. ADJOURNMENT:
Chair Hunter adjourned the meeting at 8:58 p.m.
ATTEST:
i* ESTABUSHED
ZL MARCH 18,1987
Deborah S. Traffenst t
Agency Secretary �'gt,cnwA
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