HomeMy WebLinkAboutReso 2008-059
RESOLUTION NO. 2008-059
(Redevelopment Agency Re$olution l"/O. 2008-1990)
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
ESTABLISHING A POOL OF INVESTMENT BANKING AND
UNDERWRITING FIRMS FOR THE CHULA VISTA MERGED
BAYFRONTITOWN CENTRE I REDEVELOPMENT PROJECT
AREA
WHEREAS, the Chula Vista Bayfront Master Plan (CVBMP) encompasses approximately
550 acres in the Merged Bayfront/Town Centre I Redevelopment Project Area; and
WHEREAS, staff anticipates that new development and redevelopment projects in the
CVBMP will require between $178 million and $510 million in capital and infrastructure
requirements; and
WHEREAS, staff proposes to establish a pool of investment banking and underwriting firms
to assist the City's financing team; and
WHEREAS, staff conducted a formal Request for Proposal process and ten proposals from
national and regional municipal investment banking and underwriting firms were received; and
WHEREAS, the selection panel recommends the following firms, listed in alphabetical order,
to comprise the pool of investment banking and underwriting firms: Bank of America, Citigroup,
De La Rosa & Co., Goldman Sachs & Co., lP Morgan, Stone & Youngberg, and UBS; and
WHEREAS, on September 27, 2007, the Chula Vista Redevelopment Corporation adopted
a resolution recommending that the City Council and the Redevelopment Agency establish a pool of
these seven investment banking and underwriting firms.
NOW, THEREFORE, BE IT RESOLVED that by the City Council of the City ofChula Vista
and the Redevelopment Agency of the City ofChula Vista that it establishes a pool of investment
banking and underwriting firms for the Chula Vista Merged BayfrontIT own Centre I Redevelopment
Project Area.
Presented by
Approved as to form by
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M~ia Kachadoorian
Finance Director
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Ann Moore
City Attorney
City Council Resolution No. 2008-059
RDA Resolution No. 2008-1990
Page 2
PASSED, APPROVED, and ADOPTED by the City Council and the Redevelopment Agency
ofthe City of Chula Vista, California, this 12th day of February 2008, by the following vote:
AYES:
Agency/Councilmembers: McCann, Ramirez, Rindone, and Cox
NAYS:
Agency/Councilmembers: None
ABSENT:
Agency/Councilmembers: None
ABSTAINED: Agency/Councilmembers: Castaneda
ATTEST:
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Donna R. Norris, CMC, Interim City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
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I, Donna R. Norris, Interim City Clerk of the City ofChuIa Vista, California, do hereby certifY that
the foregoing City Council Resolution No. 2008-059/Redevelopment Agency Resolution No. 2008-
1990 was duly passed, approved, and adopted by the City Council and Redevelopment Agency at a
regular meeting held on the 12th day of February 2008.
Executed this 12th day of February 2008.
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Donna R. Norris, CMC, Interim City Clerk
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