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Home My WebLink AboutRDA Minutes 081099Approved as submitted DATE: 09/14/99 MINUTES "SPECIAL MEETING" (Note special time) CITY OF ATASCADERO REDEVELOPMENT AGENCY MEETING TUESDAY, AUGUST 10, 1999 6:30 p.m. Chairman Johnson called the meeting to order at 6:43 p.m. and led the Pledge of Allegiance. ROLL CALL: Present: Board Members Arrambide, Clay, Lerno, Luna and Chairman Johnson Absent: None Others Present: Board Secretary Marcia Torgerson, Board Treasurer Rachelle Rickard and City Treasurer David Graham Staff Present: Executive Director Wade McKinney, Fire Chief Mike McCain, Community Services Director Brady Cherry, Police Lieutenant John Couch, Deputy Executive Director Paul Saldana, Assistant City Engineer John Neil and City Attorney Roy Hanley, Assistant Planner Phil Dunsmore, Principal Planner Warren Frace. COMMUNITY FORUM: None A. CONSENT CALENDAR: Roll Call 1. Redevelopment Agency Minutes - June 22, 1999 - (Board Secretary recommendation: Board approve the Redevelopment Agency minutes of June 22, 1999) [Marcia McClure Torgerson] 2. Joint City Council / Redevelopment Agency Minutes - June 29, 1999 - (Board Secretary recommendation: Board approve the Joint City Council /Redevelopment Agency minutes of June 29, 1999) [Marcia McClure Torgerson] RDA 08/10/99 Page 1 of 3 Approved as submitted DATE: 09/14/99 Joint City Council / Redevelopment Agency Minutes - July 06, 1999 - (Board Secretary recommendation: Board approve the City Council / Redevelopment Agency minutes of July 06, 1999) [Marcia McClure Torgerson] 4. Redevelopment Agency Minutes - July 13, 1999 - (Board Secretary recommendation: Board approve the Redevelopment Agency minutes of July 13, 1999) [Marcia McClure Torgerson] Item #A-3 was pulled by the City Clerk. She asked that this item be continued to the next meeting for corrections. The Board agreed to continue Item #A-3. MOTION: By Board Member Luna and seconded by Vice Chairman Arrambide to approve Items #A-1, 2 and 4. Motion passed 5:0 by roll -call vote. B. MANAGEMENT REPORTS: Budget Amendment FY 1999-2000 - Fiscal Impact: increases Agency's budget by S161,909 (Staff recommendation: Board approve loan from the City of Atascadero and approve budget amendment for Fiscal Year 1999-2000) [Paul Saldana] Deputy Executive Director Paul Saldana gave the staff report. Executive Director Wade McKinney presented some changes that City Treasurer David Graham, requested be made to the Short Term Loan Agreement. Mr. McKinney stated staff agrees with the first three changes but feels the fourth would be redundant (see Attachment A). PUBLIC COMMENT Eric Greening, 6600 Lewis Ave., asked for a breakdown of some of the figures. He also suggested a Redevelopment Agency organizational chart be created for clarification. Chairman Johnson closed the Public Comment period. MOTION: By Board Member Luna and seconded by Board Member Lerno to approve loan from the City of Atascadero and approve budget amendment for Fiscal Year 1999-2000 as amended: 1) Payoff date of one year or less. 2) Current outstanding loan to the Agency, and accrued interest, be rolled into this new note. 3) Paragraph 3.2 modified to allow the loan to be repaid through the sale of revenue bonds. Motion passed 5:0 by a roll -call vote. RDA 08/10/99 Page 2 of 3 Approved as submitted DATE: 09/14/99 2. MeetingTimes imes - Establish new meeting time - Fiscal Impact: None (Staff recommendation: Board change Agency bylaws to reflect a meeting time of 6:30 p.m. on the second and fourth Tuesdays of the month) [Paul Saldana] Deputy Executive Director Paul Saldana gave the staff report and answered questions of the Board. PUBLIC COMMENT: None MOTION: By Board Member Clay and seconded by Board Member Luna to change Agency bylaws to reflect a meeting time of 6:30 p.m. on the second and fourth Tuesdays of the month. Motion passed 5:0 by a roll -call vote. C. ADJOURNMENT: Chairman Johnson adjourned the Special Meeting at 6:55 p.m. to the next regularly scheduled meeting on September 14, 1999 at 6:30 p.m. MEETING RECORDED BY: Marcia McClure Torgerson, Board S retary MINUTES PREPARED BY: -n -d CL4 Melanie Whaley, Deputy City Clerk ATTACHMENTS: A- Memorandum regarding the authorization of loan to the Redevelopment Agency from City Treasurer, David Graham, to Board Members. RDA 08/10/99 Page 3 of 3 AUG -10-99 10:20 AM NORTH.COUNTY.TAX August 10, 1999 Attachment: A Atascadero Redevelopment Agency Meeting Date: 8/10/99 CITY OF ATASCADERO David G. Graham, EA City Treasurer To: City Council Members Mayor Ray Johnson Mayor Pro Tem Mike Arranibide Councilman George Luna Councilman Jerry Clay Councilman Ken Lerno From: City "rreastirer, David Graham Re: Authorization of Loan to Redevelopment Agency (Item C-3) The execution of this loan is absolutely essential in establishing, what was described earlier as, "...a financial firewall" between the City Trcaswy and the Rcdevelopnicnt Agency. We must recognize the transfer from the City Treasury to the agency, from what the City Manager has described as, "...staff support received from the City" and "...services and resources provided to the agency". While I fully support the recognition and accrual of City General Fund loans and advances to the agency, I would like to sec song changes made to the Short Terni Loan Agreement. 1. If it really is a "short terns" agreement it needs to have a payoff date of one year or less. A one-year renewable note/agreenient would better fit the description proffered. 2. The current outstanding loan to the agency, and accrued interest, should be rolled into this new note. . It is much easier to administer a single cumulative note rather than a series of smaller notes 3. Paragraph 3.2 indicates that the loan will be repaid only with tax increment. This would seem to preclude red ayment through the sale of revenue bonds as has been suggested in the past by the City Manager. Is there a problem here from the Underwriter or bondholder point of view? 4. Monitoring of the agreement should be accomplished with the minimum of a semi-annual report showing current and cumulative advances including accrued interest. Thank you for your consideration. 6500 PALMA AVENUE • ATASCADERO, CALWORNIA 93422 Bu SnICf3 L:ecna (8C5; 4Gl•50t4 Accounts Tayjbte (805J a6:50:G Fax (8051-961-0606