97-0506_CRA_Minutes_Regular Meeting307
MAY 6, 1997
REGULAR MEETING OF THE SAN JUAN CAPISTRANO
COMMUNITY REDEVELOPMENT AGENCY
BOARD OF DIRECTORS
The Board recessed its Closed Session at 5:00 p.m. to the end of the meeting.
The Regular Meeting of the Board of Directors of the City of San Juan Capistrano Redevelopment
Agency was called to order by Chairman Hart at 8:15 p.m. in the City Council Chamber.
ROLL CALL: PRESENT: Wyatt Hart, Chairman
John Greiner, Vice Chairman
Gil Jones, Director
David M. Swerdlin, Director
ABSENT: Collene Campbell, Director
STAFF PRESENT: George Scarborough, Executive Director, Thomas Tomlinson, Deputy Director;
John Shaw, Interim Agency Counsel/City Attorney; Jennifer Murray, Assistant City Manager;
Cynthia L. Pendleton, Finance Officer; Cheryl Johnson, Agency Secretary; William Huber, Engineer-
ing and Building Director; Lt. Paul Sullivan, Chief of Police Services; Nancy Bernardi, Recording
Secretary.
It was moved by Director Jones, seconded by Director Greiner, that the staff recommendations be
accepted for the following items listed on the Consent Calendar. The motion carried by the following
vote:
AYES: Directors Greiner, Jones, Swerdlin, and Chairman Hart
NOES: None
ABSENT: Director Campbell
The Minutes of the Regular Meeting of April 1, 1997, were approved as submitted.
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2. RECEIVE AND FILE WARRANTS FOR APRIL 1997 (300.30)
The List of Demands dated April 9, 1997, in the total amount of $5,598.64 and the List of
Demands dated April 23, 1997, in the total amount of $98,154.02 were received and filed.
RECEIVE AND FILE CASH BALANCES BY FUND FOR MARCH 1997 (33050)
The Finance Officer's Report of Cash Fund Balances for the month of March 1997 in the total
amount of $137,646.34 was received and filed.
4. APPROYAL OF AMENDMENT TO CMC CENTER BARRIO HOUSIN
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As set forth in the Report dated May 6, 1997, from the Planning Director, the First
Amendment to Agreement for Consulting Services between the Agency and Civic Center
Barrio Housing Corporation was approved reducing the requirement for a fidelity bond from
$50,000 to $25,000. The Agency Chairman was authorized to execute the Amendment on
behalf of the Agency.
BOARD ACTIONS
AWARD OF 1997 SUBORDINATED TAXABLE TAX ALLOCATION BONDS
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Aten mm ni ins:
(1) Report dated May 6, 1997, from the Finance Officer, recommending that the 1997
Subordinated Taxable Tax Allocation Bonds in the principal amount of $1,800,000
be awarded to the lowest responsible bidder. The Report noted that the bids would
be opened at 10:00 a.m. this date. The Report also recommended approval of the
Official Statement and execution of the Indenture of Trust.
(2) Supplemental Report dated May 6, 1997, from the Finance Officer, advising that the
bid opening had occurred at 10:00 a.m., on May 6th and recommending that the
bonds be awarded to the lowest responsible bidder, Wheat, First, Butcher, Singer.
The report further advised that the net debt service on the actual bond issue would be
$3,247,753.92.
Ado0ou of Resolution Awarding Bid and A.12proving Indenture of Trust and Offigial
It was moved by Director Jones, seconded by Director Swerdlin, that the following
Resolution be adopted:
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RESOLUTION NO, CRA 97-5-6-1. AWARDING SAN JUAN
CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY 1997
SUBORDINATED TAXABLE TAX ALLOCATION BONDS (WHEAT'
FIRST. BUTCHER SINGER) - A RESOLUTION OF THE SAN JUAN
CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY, SAN
JUAN CAPISTRANO, CALIFORNIA, AWARDING ITS 1997
SUBORDINATED TAXABLE TAX ALLOCATION BONDS IN THE
PRINCIPAL AMOUNT OF $1,800,000 TO THE BEST BIDDER AND
REJECTING ALL OTHER BIDS AND APPROVING, AUTHORIZING,
AND DIRECTING EXECUTION OF INDENTURE OF TRUST
RELATING THERETO, APPROVING OFFICIAL STATEMENT, AND
RATIFYING ALL ACTIONS OF THE STAFF HERETOFORE TAKEN
The motion carried by the following vote:
AYES: Directors Greiner, Jones, Swerdlin, and Chairman Hart
NOES: None
ABSENT: Director Campbell
The Resolution awarded the bonds in the principal amount of $1,800,000 to the lowest
responsible bidder, Wheat, First, Butcher, Singer at a rate of 7.731% over the life of the
bonds; rejected all other bids, authorized the Chairman and Agency Secretary to execute the
documents on behalf of the Agency; and, ratified all previous actions of staff..
The Board recessed to the Council at 8:20 p.m. and reconvened in Closed Session at 8:50 p.m. for
discussion of the following items:
Conference with Real Property Negotiator per Government Code Section 54956.8 for
property known as a portion of Parcels I through 5 of Parcel Map 85-306 in the City of San
Juan Capistrano, with Toyota as the negotiating party, to consider price and terms of
payment;
2. Conference per Government Code Section 54956.8 for Assessor's Parcel Nos. 121-240-020
and 121-240-139, with Tarr Development Company/Solag as the negotiating parties, to
consider whether to grant an exclusive right to negotiate; and
3. Conference per Government Code Sections 54956.8 and 549569(b)(3), with the Agency
Board, the Executive Director as negotiator for the Agency, and Legal Counsel regarding the
existing leasehold at 26701 Verdugo Street between the Agency and Lessee Tim Holsten,
The Agency Secretary was excused therefrom, and the meeting reconvened at 10:20 p.m.
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Mayor Swerdlin advised that with regard to Item No. 2, the Executive Director had been authorized
to execute an Exclusive Right to Negotiate with Tarr Development/Home Depot. There was no
action to report on the remaining items.
ADJOURNMENT
There being no further business before the Board, the meeting was adjourned at 10:20 p.m. to the
next regular meeting date of Tuesday, May 20, 1997, at 5:00 p.m. in the City Council Chamber.
ATTEST:
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CRA Minutes
Respectfully submitted,
CHERYL JO SO , AGENCY SECRETARY
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