95-0307_CRA_Minutes_Regular Meeting21
MARCH 7, 1995
REGULAR MEETING OF THE SAN JUAN CAPISTRANO
COMMUNITY REDEVELOPMENT AGENCY
BOARD OF DIRECTORS
The Regular Meeting of the Board of Directors of the City of San Juan Capistrano Redevelopment
Agency was called to order by Chairman Swerdlin at 7:20 p.m. in the City Council Chamber.
ROLL CALF: PRESENT. David Swerdlin, Chairman
Carolyn Nash, Vice Chairman
Collene Campbell, Director
Wyatt Hart, Director
Gil Jones, Director
ABSENT: None
STAFF PRESENT: George Scarborough, Executive Director; Richard K. Denhalter, Agency
Counsel; Cynthia L. Pendleton, Finance Officer; Cheryl Johnson, Agency Secretary; William Huber,
Director of Engineering and Building Services; Bill Ramsey, Senior Planner; Dawn Schanderl, Deputy
City Clerk.
IEVE1,11 11, 11! if
TO PRICE ENTEURISE5.
(600,40)
Proposal
Consideration of a request from Price Costco, to assign the existing Promissory Note with
the Price Company, and the right to the automobile dealership tax revenue from the dealership
at the Price Club Plaza, to Price Enterprises, Inc. The Price Company currently owns the
Price Club Plaza. However, Price Costco, who owns the Price Company and Price
Enterprises, Inc., was in the process of transferring real estate, Redevelopment Agency
Promissory Notes and other Price Company assets to Price Enterprises, Inc., who will then
own and operate the Price Club Plaza. The Price Company will continue to own and operate
the Price Club. This public hearing was held jointly with the City Council.
Price Costco, 4649 Morena Boulevard, San Diego, California 92117.
WrittenCommunicatiuns:
Report dated March 7,
Administrator, forwarding
1995, from Cassandra Walker, Community Development
a Resolution approving assignment of the Price Company
CRA Minutes -1- 317195
22
Promissory Note and automobile dealership tax revenue to Price Enterprises, and approving
a Certificate of Completion of the construction and development required by the Disposition
and Development Agreement between the Agency and The Price Company for development
of the Price Club Plaza.
Cassandra Walker made an oral presentation.
Assignment of Promissory Note and Execution of Certificate of Completim:
It was moved by Director Jones, seconded by Chairman Swerdlin that the following
Resolution be adopted:
- A RESOLUTION OF THE SAN JUAN CAPISTRANO
COMMUNITY REDEVELOPMENT AGENCY, APPROVING
ASSIGNMENT OF THE PRICE COMPANY PROMISSORY NOTE TO
PRICE ENTERPRISES, INC.
The motion carried by the following vote:
AYES: Directors Jones, Hart, Nash and Campbell, Chairman Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
The Chairman was authorized to execute the Certificate of Completion on behalf of the
Agency.
f► ► q
It was moved by Director Jones, seconded by Director Hart, that the staff recommendations be
accepted for the following items listed on the Consent Calendar. The motion carried by the following
vote:
CRA Minutes
AYES: Directors Jones, Hart, Nash, Campbell, and Chairman Swerdlin
NOES: None
ABSENT: None
-2-
317195
23
The Minutes of the Regular Meeting of February 7, 1995, were approved as submitted.
2. RECEIVE AND FILE WARRANTS OF FEBRUARY 16. 1995 (300.30)
The List of Demands dated February 16, 1995, in the total amount of $313,909.47, was
ordered received and filed.
3. RECEIVE AND FILE CASH BALANCES BY FUND FOR JANUARY, 19951330,50)
The Finance Officer's Report of Cash Fund Balances for the month of January, 1995 in the
total amount of $388,006.97 cash on deposit, was ordered received and filed.
Written Communications:
Report dated March 7, 1995, from the Finance Officer, forwarding recommendations for mid-
year revisions to the original revenue and expenditure estimates to provide an updated
financial picture for the remainder of the year. The report proposed an overall increase in
Agency expenditures of approximately $280,000 and advised that the increases were mainly
associated with Agency litigation and debt service costs. No additional revenue was identified
for the increased costs, which must be funded from resources available in the Agency's Capital
Improvement Fund.
Cynthia Pendleton, Finance Officer, made an oral presentation.
Approval of Proposed Mid-Ygar Adis, =eats:
It was moved by Director Jones, seconded by Director Hart and unanimously carried to
approve the proposed adjustments to Fiscal Year 1994-95 Community Redevelopment
Agency Operating and Capital Improvement budgets.
1 1 / C
The Board recessed at 7:23 p.m., to reconvene the City Council meeting and convened in Closed
Session at 8:25 p.m. for the following purposes, as authorized by statute:
1. Conference with Legal Counsel - Anticipated Litigation, pursuant to Government Code
Section 54956.9(b), for significant exposure to litigation in 2 cases and Government Code
Section 54956.9(c), the initiation of litigation in 2 cases.
2. Liability Claims pursuant to Government Code Section 54956.95, M&M Jewelers, et at and
San Juan Partners, et al, claimants, against the Community Redevelopment Agency.
CRA Minutes -3- 317195
24
3, Liability Claims pursuant to Government Code Section 54956,95, Henderson, et al claimant,
against the Community Redevelopment Agency.
The Agency Secretary was excused from the Closed Session and the meeting reconvened at 9:55 p.m.
ACTIONS FOLLOWMG CLOSEDSESSION
The Agency Counsel advised there was no action to report on any of the items.
There being no further business before the Board, the meeting was adjourned at 9:55 p.m. to the next
regular meeting date of Tuesday, March 21, 1995, at 7:00 p.m., in the City Council Chambers.
ATTEST:
AVID SWEgDLIN, CHAIRMAN
CRA Minutes
Respectfully submitted,
CHERYL JO O , AGENCY SECRETARY
-4-
3/7/95