HomeMy WebLinkAboutrda min 1979/09/18
MINUTES OF AN ADJOURNED REGULAR MEETING OF THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA, CALIFORNIA
Tuesday - 7:06 p.m. September 18, 1979
An adjourned regular meeting of the Redevelopment Agency of the City of Chula Vista
was held on the above date beginning at 7:06 p.m. in the Council Chambers, Public
Service Building, 276 Fourth Avenue, Chula Vista, California with the following:
MEMBERS PRESENT Chairman Hyde; Members McCandliss, Scott, Cox, Gillow
Members Absent None
STAFF PRESENT Executive Director Cole, Agency Attorney Lindberg,
Special Counsel Reed, Community Development Director
Desrochers, Development Services Administrator Robens
ALSO PRESENT Terry McCarty (Stone & Youngberg)
ITEM NO. 1a - RESOLUTION NO. 206 - AUTHORIZING THE ISSUANCE OF $7,150,000 PRINCIPAL
AMOUNT OF REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA BAYFRONT/TOWN CENTRE REDEVELOPMENT
PROJECTS 1979 TAX ALLOCATION BONDS
On July 10, 1979 the Governor signed AB405 which permitted the merger of the Bayfront
and Town Centre projects for fiscal purposes. Since that date, several documents
relative to a sale of tax allocation bonds have been prepared based on the strength
of the merged projects. The bonds are not a debt of the City, but will be repaid
from the tax increment from both projects.
RESOLUTION OFFERED
Offered by Chairman Hyde, the reading of the text was waived by unanimous consent,
passed and adopted bY , following vote, to-wit:
AYES: Members Hyde, McCandliss, Scott, Cox, Gillow
Noes: None
Absent: None
ITEM NO. 1b - RESOLUTION NO. 207 - AUTHORIZING AND DIRECTING THE SALE OF $7,150,000
PRINCIPAL AMOUNT OF REDEVELOPMENT AGENCY OF THE
C!TY OF CHULA VISTA BA YFRONT /TOWN CENTRE REDEVELOPMENT
PROJECTS 1979 TAX ALLOCATION BONDS, ADOPTING
OFFICIAL NOTICE OF SALE, ADOPTING OFFICIAL STATEMENT
AND AUTHORIZING OFFICIAL ACTION
Member McCandliss commented on the Official Statement, noting that it was helpful
and informative in outlining what has been done and what the City is proposing to do.
RESOLUTION OFFERED
Offered by Chairman Hyde, the reading of the text was waived by unanimous consent,
passed and adopted by the following vote, to-wit:
AYES: Members Hyde, McCandliss, Scott, Cox, Gillow
Noes: None
Absent: None
9/18/79
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Redevelopment Agency -
Adjourned Regular Meeting September 18, 1979
ITEM NO.2 - COMMUNITY DEVELOPMENT DIRECTOR'S MID-MONTH REPORT ON
REDEVELOPMENT PROJECTS
Mr. Desrochers said the bids on the bmd sale should be available for the Agency to
review and accept at the meeting of October 4.
The director reported that the State Coastal Commission at a meeting today in Los
Angeles accepted the State staff report which, in effect, adopted the Bavfront LCP
with ma.ior exceptions: (1) no development on Gunpowder Point; (2) development per-
mitted only on the eastern one-third of the D Street fill; (3) no access to the D
Street fill through the Sweetwater Marsh; and, (4) no construction of Tidelands
Avenue. A letter is expected from the State Commission concerning the possibility
of their funding the replanning of the Bayfront.
Mr. Desrochers also reported that the Zogob Centre City Associates development has
been funded; the local development corporation is going to make a loan to Mr. Broccoli
for a two-story office building on Landis Avenue and F Street; San Diego Federal
Savings & Loan has provided a letter which will hopefully meet the intent of the
UDAG legislation and it has been forwarded to Washington, DC; and Community Develop-
ment Coordinator Boyd has accepted another position and will be leaving the City in
October.
Mr. Terry McCarty of Stone & Youngberg commented on the Official Statement con-
cerning the Bayfront/Town Centre Redevelopment Projects 1979 Tax Allocation Bonds.
He cautioned the members of the Agency to review the statement carefully and to
suggest any corrections, additions or deletions to assure the accuracy of the state-
ment as any misinformation or omission of a material fact could result in court
action. Mr. McCarty reported that AB66 was passed and redevelopment agencies will
no longer receive any allotment of taxes levied against business inventories.
In response to questions from members of the Agency, Agency Attorney Lindberg and
Special Counsel Reed said they have reviewed the Official Statement and have approved
it as to legal form and to the best of their knowledge, there should be no problems.
ADJOURNMENT
The meeting was adjourned at 7:27 p.m. to the regularly scheduled meeting of
October 4, 1979.
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9/18/79