HomeMy WebLinkAboutrda min 1980/08/14
MINUTES OF AN ADJaJRNED REGULAR MEETING OF THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA, CALIFORNIA
Thursday - 4:01 p.m. August 14, 1980
An adjourned regular meeting of the Redevelopment Agency of the City of Chula Vista
was held on the above date beginning at 4:01 p.m. in the Council Conference Room,
City Hall, 276 Fourth Avenue, Chula Vista, California with the following:
MEMBERS PRESENT Chairman Hyde; Members Scott, Gillow, McCandliss
Members Absent Member Cox
STAFF PRESENT Executive Director Cole, Agency Attorney Lindberg,
Assistant City Manager Asmus, Director of Planning
Peterson, Community Development Di rector Desrochers
ITEM NO.1 - REDEVELOPMENT AGENCY WORKSHOP - FINANCIAL CONDITION
Community Development Di rector Desrochers reported that during the past fi sca 1
year, approximately $100 million in financial instruments were issued under the
name of the Agency.
The Tax Allocation Bond Sale of 1979 is the only issue controlled by the Agency.
The 1975 Bayfront issue has been defeased by Agency action; the entire issue is
now in a self-liquidating trust -- the bonds AAA rating. Mr. Desrochers added
that out of the $3.4 million issue, $2.3 was received with the balance going to
reserve repayment funds and bond discount and about $500,000 went to the con-
sultant and staff time for the LCP; $1 for land acquisition and $855,000 to the
Trust Account for Town Centre 1.
Administrative Analyst Sanseverino, referring to the exhibits, summarized the
funds for the Bayfront/Town Centre Bond Issue and the amounts expended in the
various major transactions of the Agency. Mr. Sanseverino reported on the esti-
mated receipts and disbursements for the Redevelopment Fund activities for the
next fiscal year (July 1980 - June 1981). The anticipated funds available are
$6,179,159 and projected disbursements - $3,881,015.
MOTION TO ACCEPT REPORT
It was moved by Chairman Hyde, seconded by Member Gillow and unanimously carried
by those present that the report be accepted.
ADJOJRNMENT
Chairman Hyde adjourned the meeting at 4:19 p.m scheduled
meeting of September 4, 1980 at 7:00 p.m.
8/14/80