HomeMy WebLinkAboutcc min 2008/02/12 Sp RDA
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 7:4 I p.m. in the Council Chambers,
276 Fourth Avenue, Chula Vista, California.
ROLL CALL:
PRESENT:
Council/Agency Member: Castaneda,
Rindone, and Mayor/Chair Cox
McCann,
Ramirez,
ABSENT:
Council/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
I. CONSIDERA TION OF THE ESTABLISHMENT OF A POOL OF INVESTMENT
BANKING AND UNDERWRITING FIRMS FOR THE CHULA VISTA MERGED
BA YFRONT/TO\VN 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 I 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 Council/Agency Members that Item IB would not be discussed.
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 I Redevelopment Project Area.
He then left the dais.
ACTION:
Council/Agency 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
BA YFRONT/TOWN CENTRE I REDEVELOPMENT PROJECT AREA
B.
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.
Council/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.
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Lorraine Bennett, CMC, Deputy City Clerk
Page 2 - Jt. CC/RDA Minutes
February 12,2008
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