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HomeMy WebLinkAbout2008/02/05 RDA Item 1 MINUTES Of AN ADJOURNED REGULAR MEETING OF THE CITY COUNCIL AND A SPECIAL MEETING OF THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA January 9, 2007 6:00 P.M. An Adjourned Regular Meeting of the City Council and a Special Meeting of the Housing Authority of the City ofChula Vista were called to order at 7:57 p.m., in the Council Chambers, located in City Hall, 276 Fourth Avenue, Chula Vista, California. ROLL CALL PRESENT: Council/ Authoritymembers Castaneda, McCann, Ramirez, Rindone, and Mayor/Chair Cox ABSENT: CounciVAuthoritymembers: None ALSO PRESENT: Executive Director/Interim City Manager Thomson, Authority/City Attorney Moore, City Clerk Bigelow, and Deputy City Clerk Bennett PUBLIC COMMENTS There were none. PUBLIC HEARINGS 1. CONSIDERATION OF THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS WITH RESPECT TO THE PROPOSED REFINANCE AND REHABILITATION OF EXISTING AFFORDABLE UNITS AT OXFORD TERRACE APARTMENTS The City of Chula Vista has received a request from Alpha Project to consider the issuance of tax-exempt obligations to refinance and rehabilitate 132 existing affordable housing units at the Oxford Terrace Apartments project. The refmance and rehabilitation will improve the property and slightly lower the already affordable rents. (Acting Community Development Director) Housing Manager Mandy Mills presented the staff report. Mayor/Chair Cox opened the public hearing. Council/ Authoritymember Castaneda asked staff to come back with a proposal on how the City may pro actively seek ways to identify properties that would benefit from this program. CounciV Authoritymember McCann requested confirmation from staff that the proposed bond would not cost the City or Housing Authority any money; that it is taking an existing affordable project and placing approximately $15,000 into each unit; and should the bonds go into default, there would be no recourse to Housing Authority funds. Ms. Mills responded affirmatively. Mayor/Chair Cox asked whether or not the tax exempt bonds would be available to any private property owner, as long as they were willing to meet the stipulations of Housing and Urban Development requirements or low/moderate income housing. Ms. Mills replied that such bonds would be available to any entity that meets the minimum restrictions. /1)",1 PUBLIC HEARINGS (Continued) CounciV Agencymember Rindone spoke in support of the staff referral by Councilmember Castaneda to return to the Council with a proposal on how the City may proactively seek ways to identifY other properties that would benefit from this program. There being no members of the public who wished to speak, Mayor/Chair Cox closed the public hearing. ACTION: CounciV Authoritymember Castaneda moved to adopt Housing Authority Resolution No. 2007-032 and Council Resolution No. 2007-011, headings read, texts waived: A. HOUSING AUTHORITY RESOLUTION NO. 2007-032, RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA .REGARDING ITS INTENTION TO ISSUE TAX-EXEMPT OBLIGATIONS FOR A PROPOSED REFINANCE AND REHABILITATION OF EXISTING AFFORDABLE UNITS AT OXFORD TERRACE APARTMENTS B. RESOLUTION NO. 2007-011, RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA PURSUANT TO SECTION 147(F) OF THE INTERNAL REVENUE CODE OF 1986 APPROVING THE ISSUANCE OF BONDS BY THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA FOR THE REFINANCE AND REHABILITATION OF EXISTING AFFORDABLE UNITS AT OXFORD TERRACE APARTMENTS CounciVAuthoritymember Ramirez seconded the motion, and it carried 5-0. OTHER BUSINESS 2. CITY MANAGERlDlRECTOR'S REPORTS There were none. 3. MAYOR/CHAIR'S REPORTS There were none. 4. COUNCIL/AGENCY MEMBER'S COMMENTS There were none. ADJOURNMENT At 8:18 p.m., Mayor/Chair Cox adjourned the meeting until further notice, and to the Adjourned Regular Meeting of the City Council on January 15,2007 at 9:30 a.m. in the Council Chambers. :::--- Lorraine Bennett, CMC, Deputy City Clerk Page 2 - CouncillHA Minutes /1, ,A January 9, 2007 DRAFT MINUTES OF A SPECIAL MEETING OF THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA December 4, 2007 4:00 P.M. A Special Meeting of the Housing Authority of the City of Chula Vista was called to order at 6:48 p.m., in the Council Chambers, located in City Hall, 276 Fourth Avenue, Chula Vista, California. ROLL CALL PRESENT: Authority Members: Castaneda, McCann, Ramirez, Rindone, and Chair Cox ABSENT: None ALSO PRESENT: Executive Director Garcia, General Counsel Moore, City Clerk Bigelow, and Deputy City Clerk Bennett PUBLIC COMMENTS There were none. CONSENT CALENDAR (Item 1) Authority Member Rindone stated he would be abstaining from voting on the minutes of July 17, 2007, as a result of his excused absence from the meeting. 1. APPROVAL OF MINUTES of the Special Meetings of June 19, 2007, July 17, 2007 and October 2, 2007. Staff recommendation: Authority approve the minutes. ACTION: Authority Member Castaneda moved to approve staffs recommendation and offered Item 1. Authority Member McCann seconded the motion and it carried 5- 0, except on the minutes of July 17, 2007, which carried 4-0-1, with Vice Chair Rindone abstaining due to his excused absence from the meeting. ITEMS REMOVED FROM THE CONSENT CALENDAR There were none. ACTION ITEMS 2. CONSIDERATION OF ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS FOR THE LANDINGS APARTMENTS On August 7, 2007, the Council authorized the Housing Authority to issue multifamily housing revenue bonds to finance a majority of the development costs associated with the Landings affordable apartment community. Subsequently, on September 27, 2007, the Housing Authority expressed its intent to issue these tax-exempt bonds for the project. The Landings will provide 92 affordable rental units for lower income households in satisfaction of the City's balanced Communities Affordable Housing Program for the Windwalk master planned community. (Redevelopment Agency Executive Director) Page I - Housing Authority Minutes December 4, 2007 /8// DRAFT ACTION ITEMS (Continued) ACTION: Vice Chair Rindone moved to adopt the following Housing Authority Resolution No. 2007-036, heading read, text waived: RESOLUTION NO. 2007-036, RESOLUTION OF THE HOUSING AUTHORITY OF THE CITy OF CHULA VISTA AUTHORIZING THE ISSUANCE OF THE HOUSING AUTHORITY OF THE CITY OF CHULA VISTA MULTIFAMILY HOUSING REVENUE BONDS (THE LANDINGS APARTMENTS), SERIES 2007C IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $16,738,648 FOR THE PURPOSE OF FINANCING FOR THE DEVELOPMENT OF THE LANDINGS APARTMENTS PROJECT, APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY AND ALL DOCUMENTS NECESSARY TO ISSUE THE BONDS AND IMPLEMENT THIS RESOLUTION Authority Member Castaneda seconded the motion and it carried 5-0. OTHER BUSINESS 3. EXECUTIVE DIRECTOR'S REPORTS There were none. 4. CHAIR'S REPORTS There were none. 5. AGENCY MEMBER'S COMMENTS There were none. ADJOURNMENT At 6:59 p.m., Chair Cox adjourned the meeting until further notice. ~ - --0 ---- --- Lorraine Bennett, CMC, Deputy City Clerk Page 2 - Housing Authority Minutes J'l~ December 4, 2007