HomeMy WebLinkAboutcc min 2006/03/21 RDA
MINUTES OF ADJOURNED REGULAR MEETINGS OF
THE CITY COUNCIL AND THE REDEVELOPMENT AGENCY
OF THE CITY OF CHULA VISTA
March 21, 2006
6:00 P.M.
Adjourned Regular Meetings of the City Council and the Redevelopment Agency of the City of
Chula Vista were called to order at 7:28 p.m. in the Council Chambers, located in City Hall, 276
Fourth Avenue, Chula Vista, California.
ROLL CALL:
PRESENT: Council/Agency Members: Castaneda, Chavez, McCann, Rindone and
Padilla
ABSENT: Council/Agency Authority Members: None
ALSO PRESENT: Assistant City Manager Thomson, City Attorney Moore, and
Senior Deputy City Clerk Peoples
CONSENT CALENDAR
(Item I)
Agency/Councilmembers Castaneda and Rindone announced that they would abstain from
voting on Items IA and IB, due to the proximity of their properties to the redevelopment area.
I A. RESOLUTION NO. 2006-089, RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CHULA VISTA APPROVING THE BORROWING OF FUNDS BY THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA FROM
CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY AND
PROVIDING OTHER MA TTERS RELATING THERETO
B. AGENCY RESOLUTION NO. 2006-1936, RESOLUTION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AUTHORIZING
AND DIRECTING EXECUTION OF LOAN AGREEMENT RELATING TO THE
ISSUANCE OF CERTAIN BONDS BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY, APPROVING OFFICIAL
STATEMENT RELATING TO SUCH BONDS, AND AUTHORIZING AND
APPROVING OTHER MATTERS RELATING THERETO
As part of the effort to balance the 2005/2006 budget of the State of California,
redevelopment agencies are again obligated to make payments totaling $250 million to
the Educational Revenue Augmentation Fund (ERAF). The Chula Vista Redevelopment
Agency's 200512006 ERAF obligation is $900,367. The CRAlERAF Loan Program
allows agencies to spread the payment over the next ten years. The Agency participated
in this program in 2005 and is proposing to participate again in 2006. Under this year's
program, the Agency's total borrowing would not exceed $1,100,000. Annual payments
are not anticipated to exceed 17% of the Agency's ERAF obligation, or approximately
$153,062. (Finance Director)
Staff recommendation: Council/Agency adopt the resolutions.
CONSENT CALENDAR (Continued)
ACTION:
Deputy MayorNice Chairman McCann moved to approve staffs
recommendation and offered the Consent Calendar, headings read, texts waived.
The motion carried 3-0-2, with Council/Agency Members Castaneda and Rindone
abstaining on Items lA and lB, since they live within 500 feet of the
redevelopment area.
ITEMS REMOVED FROM THE CONSENT CALENDAR
There were none.
PUBLIC COMMENTS
There were none.
OTHER BUSINESS
2. CITY MANAGERlDIRECTOR'S REPORTS
There were none.
3. MAYOR/CHAIR'S REPORTS
There were none.
4. COUNCIL/AGENCY MEMBER'S COMMENTS
There were none.
ADJOURNMENT
At 7:30 p.m., Mayor/Chairman Padilla adjourned the meeting to the Regular Meeting of April 4,
2006 at 4:00 p.m. in the Council Chambers.
Cf~~~
Lori Anne Peoples, CMC, Senior Deputy City Clerk
Page 2 - Jt.CounciJ/RDA Action Agenda http://www.chulavistaca.gov
March 21, 2006
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