HomeMy WebLinkAbout2008/02/25 RDA Item 1
DRAFT
MINUTES OF AN ADJOURNED REGULAR MEETINGS OF THE CITY COUNCIL
AND THE REDEVELOPMENT AGENCY, AND SPECIAL MEETINGS OF
THE HOUSING AUTHORITY AND PUBLIC FINANCING AUTHORITY
OF THE CITY OF CHULA VISTA
February 5, 2008
4:00 P.M.
Adjourned regular meetings of the City Council and Redevelopment Agency and Special
Meetings of the Housing Authority and Public Financing Authority of the City of Chula Vista
were called to order at 8:43 p.m. in the Council Chambers, located in City Hall, 276 Fourth
Avenue, Chula Vista, California.
ROLL CALL:
PRESENT: Council/Agency/Authority Members: Castaneda, McCann, Ramirez,
Rindone and Mayor/Chair Cox
ABSENT: Council/Agency Authority Members: None
ALSO PRESENT: City Manager/Executive Director Garcia, City Attorney/ Agency Counsel
Moore, Interim City Clerk Norris, and Deputy City Clerk Bennett
CONSENT CALENDAR
(Items 1-2)
1. APPROVAL OF MINUTES of Special Meetings of the Housing Authority of January 9,
2007 and December 4,2007.
Staffrecommendation: Authority approve the minutes.
2. RESOLUTION NO. 2008-1989, RESOLUTION OF THE CHULA VISTA
REDEVELOPMENT AGENCY (A) APPROPRIATING $5,570,000 FROM
REDEVELOPMENT AGENCY LOW AND MODERATE INCOME HOUSING
FUNDS FOR FINANCIAL ASSISTANCE FOR THE DEVELOPMENT OF LOS
VECINOS; AND (B) AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE
A LOAN AGREEMENT BY AND BETWEEN THE CHULA VISTA
REDEVELOPMENT AGENCY, AND LOS VECINOS, L.P. AND ALL OTHER
IMPLEMENTING AGREEMENTS AND DOCUMENTS (4/5THS VOTE
REQUIRED)
On June 14, 2007, the Redevelopment Agency of the City of Chula Vista adopted a
resolution conditionally approving financial assistance from the Agency's Low and
Moderate Income Housing Funds up for the development of a 42-unit low and very low
affordable housing rental apartment project at 1501 Broadway. The developer, Wakeland
Housing, has met all required conditions for funding. Staff is bringing forward all loan
documents and recommending that funds be appropriated. (Redevelopment and Housing
Assistant Director)
Staff recommendation: Agency adopt the resolution.
DRAFT
CONSENT CALENDAR (Continued)
ACTION:
Council/Agency/Authority Member Castaneda moved to approve the Consent
Calendar, heading read, text waived. Council/Agency/Authority Member
Rindone seconded the motion and it carried 5-0.
ITEMS REMOVED FROM THE CONSENT CALENDAR
There were none.
PUBLIC COMMENTS
There were none.
ACTION ITEM
3. CONSIDERATION OF AUDITED FINANCIAL STATEMENTS FOR FISCAL YEAR
2006/2007
Presented for the City Council, Redevelopment Agency, and Public Financing Authority
information and acceptance are the Audited Financial Statements for the fiscal year ended
June 30, 2007, as prepared by the independent audit firm of Moreland and Associates,
Inc. All of the audit reports submitted have received unqualified (clean) opinions from
the independent audit firm. (Finance Director)
City Manager/Executive Director Garcia introduced the item.
At the request of staff, Katherine Beseau, representing Moreland and Associates, Inc., presented
a portion of the audit report regarding new pronouncements and requirements, namely
Governmental Accounting Standards Board (GASB) 43 and 45, post employment benefits other
than pensions, Statement of Auditing Statements (SAS) 104 - Ill, risk auditing standards, and
SAS 114, those charged with governance.
Council/Agency/Authority Member Rindone directed City Manager/Executive Director Garcia
to docket the item for a separate workshop to discuss the matter in detail.
Mayor/Chair Cox suggested that the Council/Agency/Authority accept the report and have staff
work with the Auditor and City Treasurer for a suitable workshop date.
ACTION:
Mayor/Chair Cox moved to accept the report. Council/Agency/Authority
Member Ramirez seconded the motion.
It was the consensus of the Council to hear the full report regarding the unqualified opinion, and
to direct staffto hold a future workshop to discuss the audit review.
Ms. Beseau provided the remainder of the report to the Council/Agency/Authority.
Council/Agency/Authority Member Rindone directed staff to come back with an analysis of why
the overall governmental fund balance from the prior fiscal year had dropped.
The motion carried 5-0.
Page 2 - Jt. CC/RDAlHA/PF A Minutes
February 5, 2008
DRAFT
OTHER BUSINESS
4. CITY MANAGER/EXECUTIVE DIRECTOR'S REPORTS
There was none.
5. MA YOR/CHAIR'S REPORTS
There was none.
6 COUNCIL/AGENCY MEMBERS/AUTHORITY MEMBERS' COMMENTS
There was none.
ADJOURNMENT
At 9:20 p.m., Mayor/Chair Cox adjourned the meeting to an Adjourned Regular Meeting of the
City Council on February 7, 2008, at 6:00 p.m. in the Council Chambers, the Redevelopment
Agency to their Regular Meeting of February 19, 2008, at 6:00 p.m. in the Council Chambers,
and the Housing Authority and Public Financing Authority until further notice, in the Council
Chambers.
~~
Lorraine Bennett, CMC, Deputy City Clerk
Page 3 -!t. CC/RDA/HA/PF A Minutes
February 5, 2008