HomeMy WebLinkAboutRDA Agenda Packet 121404PUBLIC REVIEW
City Manager's Office
CITY OF ATASCADERO
COMMUNITY REDEVELOPMENT AGENCY
AGENDA
TUESDAY, DECEMBER 14, 2004
6:30 P.M.
Atascadero Lake Pavilion
9315 Pismo St.
Atascadero, California
ROLL CALL: Chairperson O'Malley
Vice Chairperson Pacas
Board Member Luna
Board Member Clay
Board Member Scalise
APPROVAL OF AGENDA: Roll Call
BOARD REORGANIZATION:
1. Board Appointment of Chairperson — The Board Secretary will accept
nominations from the Board Members.
2. Board Appointment of Vice -Chairperson — The new Chairperson will accept
nominations from the Board Members.
COMMUNITY FORUM:
BOARD ANNOUNCEMENTS AND REPORTS: (On their own initiative, the Board
Members may make a brief announcement or a brief report on their own activities.
Board Members may ask a question for clarification, make a referral to staff or take
action to have staff place a matter of business on a future agenda. The Board may take
action on items listed on the Agenda.)
1
A. CONSENT CALENDAR:
Community Redevelopment Agencv Minutes — November 9, 2004
■ Board Secretary Recommendation: Board approve the Community
Redevelopment Agency minutes of November 9, 2004. [Board Secretary]
2. Authorization of Investment of Monies in the Local Agencv Investment
Fund (LAIF)
■ Fiscal Impact: None.
■ Recommendation: Board adopt the draft Resolution authorizing the
investment of monies in the Local Agency Investment Fund (LAIF).
[Treasurer]
3. Consultant Selection for Atascadero Creek Bank Restoration
■ Fiscal Impact: Not to exceed costs from the proposal, $42,400, from the
Wallace Group.
■ Recommendation: Board authorize the Executive Director to negotiate a
Consultant Services Agreement with the Wallace Group for the design of
the Atascadero Creek Bank Restoration. [Public Works]
B. EXECUTIVE DIRECTOR REPORT: Wade McKinney, Executive Director
C. ADJOURNMENT
2
ITEM NUMBER: A - 1
DATE: 12/14/04
CITY OF ATASCADERO
COMMUNITY REDEVELOPMENT AGENCY
DRAFT MINUTES
Tuesday, November 9, 2004
6:30 P.M.
Chairperson O'Malley called the meeting to order at 6:30 p.m.
ROLL CALL:
Present: Board Members Clay, Luna, Scalise and Chairperson O'Malley
Absent: Vice Chairperson Pacas
Others Present: Board Secretary Marcia McClure Torgerson and Recording
Secretary Grace Pucci
Staff Present: Executive Director Wade McKinney, Assistant City Manager Jim
Lewis, Board Treasurer Rachelle Rickard, Community
Development Director Warren Frace, Public Works Director Steve
Kahn, Community Services Director Brady Cherry, Police Chief
John Couch, Deputy Public Works Director Geoff English,
Redevelopment Specialist Marty Tracey and Interim City Attorney
Tom Gibson.
APPROVAL OF AGENDA:
MOTION: By Board Member Luna and seconded by Board Member Clay
to approve the agenda.
Motion passed 4;0 by a roll -call vote.
COMMUNITY FORUM:
None
RDA 11/09/04 Draft Minutes
Page 1 of 3
3
ITEM NUMBER: A - 1
DATE: 12/14/04
BOARD ANNOUNCEMENTS AND REPORTS:
None
A. CONSENT CALENDAR:
1. Community Redevelopment Agency Minutes — October 12, 2004
■ Board Secretary Recommendation: Board approve the Community
Redevelopment Agency minutes of October 12, 2004. [Board Secretary]
MOTION: By Board Member Luna and seconded by Board Member Clay
to approve Item #A-1
Motion passed 4:0 by a voice vote.
MOTION: By Board Member Luna and seconded by Board Member Clay
to continue the meeting until 7:00 p.m.
Motion passed 4:0 by a voice vote.
Chairperson O'Malley recessed the hearing at 6:33 p.m.
Chairperson O'Malley called the meeting back to order at 7:00 p.m.
Vice Chairperson Pacas joined the meeting.
B. MANAGEMENT:
1. Issuance of Redevelopment Bonds
■ Fiscal Impact: An estimated $12,675,000 in bond proceeds and an
estimated $21,810,000 in related debt service costs over 30 years.
■ Recommendations: Agency Board:
1. Adopt the draft Resolution authorizing the execution of a joint
exercise of powers agreement creating the Atascadero Public Financing
Authority and;
2. Adopt the draft Resolution authorizing the issuance and sale of tax
allocation bonds to finance redevelopment activities within and for the
benefit of the Agency's Atascadero Redevelopment Project and
approving related documents and actions. [Treasurer]
Mike Curran, Piper Jaffray, provided the staff report and answered questions of the
Board.
RDA 11/09/04 Draft Minutes
Page 2 of 3
M.
1 1 MM llulvlomrl. H' I
ITEM NUMBER: A - 1
DATE: 12/14/04
PUBLIC COMMENT
Eric Greening asked for clarification on where the risk would fall if the economy hit a
rough patch and property values fell.
Mr. Curran explained the security measures built into the bond program.
Chairperson O'Malley closed the Public Comment period.
MOTION: By Board Member Scalise and seconded by Board Member
Clay to adopt the draft Resolution authorizing the execution of
a joint exercise of powers agreement creating the Atascadero
Public Financing Authority and; adopt the draft Resolution
authorizing the issuance and sale of tax allocation bonds to
finance redevelopment activities within and for the benefit of
the Agency's Atascadero Redevelopment Project and
approving related documents and actions.
Motion passed 5:0 by a roll -call vote.
C. EXECUTIVE DIRECTOR REPORT: Wade McKinney, Executive Director
None
D. ADJOURNMENT
Chairperson O'Malley adjourned the meeting at 7:28 P.M.
MEETING RECORDED AND MINUTES PREPARED BY:
Grace Pucci, Recording Secretary
RDA 11/09/04 Draft Minutes
Page 3 of 3
5
11 L.IYI 114VIY1oGf1. M - L
ITEM NUMBER: A-2
DATE: 12/14/04
Community Redevelopment Agency of Atascadero
Staff Report - Treasurer
Authorization of Investment of Monies in the
Local Agency Investment Fund
RECOMMENDATION:
Adopt the draft Resolution authorizing the investment of monies in the Local Agency
Investment Fund (LAIF).
DISCUSSION:
In accordance with the Agency's investment policy, the Agency currently invests all of
its funds in the City of Atascadero investment pool. This strategy has worked well for
the Agency in the past, reducing agency administrative costs and allowing the small
amount of Agency funds to be diversified. The Agency, however, has now received over
$9.8 million in bond proceeds. These funds were deposited into the City's LAIF
account, however in order to simplify arbitrage calculations and facilitate administration
of the bond proceeds, staff is recommending that the Agency open its own LAIF
account. It is expected that the remaining bond proceeds would then be transferred to
this new account, while other Agency funds would remain in the City investment pool.
The Local Agency Investment Fund is a voluntary program created by statute in 1977
as an investment alternative for California local governments and special districts. This
multi -billion dollar investment pool is managed by the State Treasurer's office and has
2,750 government participants. All securities for the fund are purchased under the
authority of Government Code Section 16430 and 16480.4 and the fund is continually
monitored/audited by outside agencies. The fund also has appropriate legislative
safeguards in place to protect local funds from future state raids and shortfalls. More
information on LAIF is available on the LAIF website at
httpY1www.treasurer. ca.goy/pmia-taif/answerbook.htm or a hard copy of the LAIF
Answer Book is available for review at the City Hall Annex.
0
I I tIV1 IVUIVIOt-h: H - G
ITEM NUMBER: A - 2
DATE: 12/14/04
FISCAL IMPACT:
None.
ALTERNATIVES:
1. Leave bond proceeds in the City's investment pool, complicating arbitrage
calculations and administration.
2. Invest in alternate investment pool.
ATTACHMENTS:
Draft Resolution authorizing the investment of monies in the Local Agency Investment
Fund.
7
DRAFT RESOLUTION
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF
ATASCADERO, AUTHORIZING INVESTMENT OF MONIES IN THE
LOCAL AGENCY INVESTMENT FUND
WHEREAS, Pursuant to Chapter 730 of the statues of 1976 Section 16429.1 was added
to the California Government Code to create a Local Agency Investment Fund in the State
Treasury for the deposit of money of a local agency for purposes of investment by the State
Treasurer; and,
WHEREAS, the Board of Directors does hereby find that the deposit and withdrawal of
proceeds from bonds, notes, certificates of participation, or other forms of indebtedness (proceeds)
in the Local Agency Investment Fund in accordance with the provisions of Government Code
Section 16429.1 is in the best interest of the Community Redevelopment Agency of Atascadero.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the Community
Redevelopment Agency of Atascadero
SECTION 1. The Board of Directors does hereby authorize the deposit and withdrawal of
Community Redevelopment Agency of Atascadero proceeds in the Local Agency Investment Fund
in the State Treasury in accordance with the provisions of Government Code Section 16429.1 for
the purpose of investment as stated therein, and verification by the State Treasurer's Office of all
banking information provided in that regard.
SECTION 2. The following officers, or their successors in office, shall be authorized to
order the deposit or withdrawal of monies in the Local Agency Investment Fund:
Wade G. McKinney_
Executive Director
(SIGNATURE)
James Lewis
Asst. Executive Director
(SIGNATURE)
Rachelle Rickard
Treasurer
(SIGNATURE)
SECTION 3. The above authorizations and designations will be in effect until the
Community Redevelopment Agency of Atascadero notifies the Local Agency Investment Fund in
writing of any changes.
On motion by Board Member and seconded by Board Member
the foregoing Resolution is hereby adopted in its entirety on the
following roll call vote:
AYES:
NOES:
ABSENT:
ADOPTED:
ATTEST:
Marcia McClure Torgerson, Board Secretary
APPROVED AS TO FORM:
Tom Gibson, Interim City Attorney
I
COMMUNITY REDEVELOPMENT AGENCY
OF ATASCADERO
Chairperson
ITEM NUMBER: A - 3
DATE: 12/14/04
Community Redevelopment Agency of Atascadero
Staff Report — Public Works Department
Consultant Selection for
Atascadero Creek Bank Restoration
RECOMMENDATION:
Board authorize the Executive Director to negotiate a Consultant Services Agreement
with the Wallace Group for the design of the Atascadero Creek Bank Restoration.
DISCUSSION:
The City of Atascadero is in escrow for the purchase of the Creekside Lanes. This
building is proposed to be the new City Hall Annex. A creek bank of Atascadero Creek,
near the Creekside Lanes, has failed. The foundation of the building is exposed and the
bank is in need of repair.
The City of Atascadero sent out a Request for Proposal to hire a qualified Engineering
Firm to assist in the selection of a bank repair method that will protect the building and
satisfy the regulatory requirements of the Department of Fish and Game and the Army
Corp of Engineers. The successful consultant will then produce plans and specifications
for the construction of the selected bank repair method.
Two firms submitted proposals: Wallace Group of San
Foothill Ranch. The proposals were ranked based on the
of scope, experience on similar projects, references and
number one selected consultant.
FISCAL IMPACT:
Luis Obispo and Willdan of
project team, understanding
cost. Wallace Group was the
The not to exceed costs from the proposal of the Wallace Group are as follows:
➢ Conceptual Study: $22,900.00
➢ Topographic Survey: $5,000.00
➢ Design and Permitting: $14,500.00
➢ Total: $42,400.00
10