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HomeMy WebLinkAbout2008/04/22 Item 1 DRAFT MINUTES OF AN ADJOURNED REGULAR MEETING OF THE CITY COUNCIL AND A SPECIAL MEETING OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA February 12, 2008 6:00 p.m. An Adjourned Regular Meeting of the City Council and a Special Meeting of the Redevelopment Agency of the City of Chula Vista were called to order at 7:41 p.m. in the Council Chambers, 276 Fourth Avenue, Chula Vista, California. ROLL CALL: PRESENT: CounciV Agency Member: Castaneda, Rindone, and Mayor/Chair Cox McCann, Ramirez, ABSENT: CounciV Agency Member: None ALSO PRESENT: City Manager/Executive Director Garcia, City Attorney/General Counsel Moore, Interim City Clerk Norris, Deputy City Clerk Bennett PUBLIC COMMENTS There were none. ACTION ITEM 1. CONSIDERATION OF THE ESTABLISHMENT OF A POOL OF INVESTMENT BANKING AND UNDERWRITING FIRMS FOR THE CHULA VISTA MERGED BAYFRONT/TOWN CENTRE I REDEVELOPMENT PROJECT AREA AND THE MERGED REDEVELOPMENT PROJECT AREA A joint planning effort between the City/Redevelopment Agency and the San Diego Unified Port District created the Chula Vista Bayfront Master Plan (CVBMP) that envisions developing a world-class waterfront using sound planning and economics. Within this area, which encompasses a total of approximately 550 acres that includes approximately 490 acres of land and 60 acres of water area, is the Merged Bayfront/Town Centre 1 Redevelopment Project Area. Over the next several years, the City anticipates the CVBMP's new development and redevelopment projects will result in between $178 and $510 million in capital and infrastructure requirements. To finance these projects, it is necessary to establish a pool of investment banking and underwriting firms to serve as an integral part of the City's financing team. Adoption of the resolution establishes such a pool. (Finance Director) Mayor/Chair Cox informed the CounciV Agency Members that Item 1 B would not be discussed. 1 A-I DRAFT ACTION ITEM (Continued) Council/Agency Member Castaneda stated that he would be abstaining from voting on Item lA, due to the location of his residence to the Bayfront/Town Centre 1 Redevelopment Project Area. He then left the dais. ACTION: B. CounciVAgency Member Rindone moved to adopt Council Resolution No. 2008- 059 and Redevelopment Agency Resolution No. 2008-1990, heading read, text waived. A. COUNCIL RESOLUTION NO. 2008-059, AND AGENCY RESOLUTION NO. 2008-1990, 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 BAYFRONT/TOWN CENTRE I REDEVELOPMENT PROJECT AREA 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 REDEVELOPMENT PROJECT AREA Mayor Cox seconded the motion and it carried 4-0-1, with Council/Agency Member Castaneda abstaining. CounciV Agency Member Castaneda returned to the dais at 7 :44 p.m. OTHER BUSINESS 2. CITY MANAGERlEXECUTIVE DIRECTOR'S REPORTS There were none. 3. MAYOR/CHAIR'S REPORTS There were none. 4 COUNCIL/AGENCY MEMBERS' COMMENTS There were none. ADJOURNMENT At 7:44, Mayor/Chair Cox adjourned the meeting to the Regular Meeting of February 19, 2008, at 6:00 p.m. in the Council Chambers. .~ ~ett, CMC, Deputy City Clerk Page 2 - Jt. CC/RDA Minutes February 12,2008 /A~'~ DRAFT MINUTES OF AN ADJOURNED REGULAR MEETING OF THE CITY COUNCIL AND A SPECIAL MEETING OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA February 26, 2008 6:00 p.m. A Special Meeting of the Redevelopment Agency of the City of Chula Vista was called to order at 6:04 p.m., in the Council Chambers, located in City Hall, 276 Fourth Avenue, Chula Vista, California. ROLL CALL: PRESENT: Agency Members: Castaneda, McCann, Ramirez, Rindone, and Chair Cox ABSENT: Agency Members: None ALSO PRESENT: City Manager/Executive Director Garcia, City Attorney/General Counsel Moore, Interim City Clerk Norris, Deputy City Clerk Bennett CONSENT CALENDAR (Items 1 and 2) 1. APPROVAL OF MINUTES of the Adjourned Regular Meeting of February 5, 2008. Staff recommendation: Agency approve the minutes. 2. JOINT CITY COUNCIL RESOLUTION NO. 2008-065, AND REDEVELOPMENT AGENCY RESOLUTION NO. 2008-1992 OF THE CITY OF CHULA VISTA AUTHORIZING (1) AN AMENDMENT TO THE EXISTING AFFORDABLE HOUSING REGULATORY AGREEMENT AND ITS FIRST AMENDMENT FOR THE 115 MODERATE INCOME FOR-SALE UNITS AND THE 92 LOW-INCOME RENTAL UNITS; AND (2) AN AMENDMENT TO THE AFFORDABLE HOUSING AGREEMENT FOR THE 92 LOW-INCOME RENTAL UNITS IN NEIGHBORHOOD R-19 IN OT A Y RANCH VILLAGE ELEVEN Brookfield Shea Otay LLC, the City of Chula Vista and/or Agency have previously entered into several regulatory and fmancial agreements for the purpose of providing affordable housing opportunities within the Winding Walk master planned community. In partial satisfaction of these agreements, CIC Landing, LLC (CIC) is constructing and will own and operate a 92-unit, low-income apartment development, known as the Landings at Winding Walk. During the closing of escrow and securing of financing for the project, CIC determined that amendments were necessary to the Affordable Housing Regulatory Agreement, its first amendment, and the Affordable Housing Agreement to clarify the affordable housing obligations and conflicts of law. Adoption of the resolution amends these agreements. (Housing and Redevelopment Agency Assistant Director) Staff recommendation: Council and Agency adopt the resolution. ACTION: Deputy Mayor/Agency Member Rindone moved to approve staffs recommendations and offered the Consent Calendar, headings read, text waived. CounciVAgency Member Ramirez seconded the motion and it carried 5-0. f 8- I DRAFT ITEMS REMOVED FROM THE CONSENT CALENDAR There were none. PUBLIC COMMENTS There were none. OTHER BUSINESS 3. CITY MANAGERlEXECUTIVE DIRECTOR'S REPORTS There were none. 4. MA YORJCHAIR'S REPORTS There were none. 5. COUNCIL/AGENCY MEMBERS' COMMENTS There were none. ADJOURNMENT At 6:06 p.m., Mayor/Chair Cox adjourned the Redevelopment Agency meeting to the Regular Meeting of March 4,2008 at 4:00 p.m. in the Council Chambers. c:::-: ~ Lorraine Bennett, CMC, Deputy City Clerk ,.J . --) t>F~