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Home My WebLink About121499 RDA Minutes MINUTES OF A REGULAR MEETING OF THE TEMECULA REDEVELOPMENT AGENCY DECEMBER 14, 1999 A regular meeting of the City of Temecula Redevelopment Agency was called to order at 8:14 P.M., in the City Council Chambers, 43200 Business Park Ddve, Temecula. ROLL CALL PRESENT: 5 AGENCY MEMBERS: Comerchero, Naggar, Pratt Stone, and Roberrs. ABSENT: 0 AGENCY MEMBER: None. Also present were Executive Director Nelson, City Attorney Thorson, and City Clerk Jones. PUBLIC COMMENTS No input. CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the minutes of November 16, 1999. (Agency Members Naggar and Pratt abstained with regard to Item No. 1 .) 2 Approval of Cooperative Agreement with the City for Construction and Fundincl of Old Town Southside Parking Lots - Project No. PVV98-t6 RECOMMENDATION: 2.1 Approve an Agreement entitled Cooperative Agreement between the City of Temecula and the Redevelopment Agency of the City of Temecula for construction and funding of Old Town Southside Parking Lots; 2.2Authorize the Chairperson to execute the Agreement on behalf of the Agency in substantially the form attached to the Agenda Report; 2.3 Authorize the budgeted expenditure of $900,000 by the Redevelopment Agency for the Agency's share of costs to date and project costs incurred as approved by the City or Agency. (Agency Member Stone abstained with regard to Item No. 2.) 3 Approval of Cooperative Af:lreement with the Temecula Redevelopment Aaencv for Puiol Street Sidewalk Improvement - Pmiect No. PW98-17 RECOMMENDATION: 3.1 Approve an Agreement entitled Cooperative Agreement between the City of of Temecula and the Redevelopmerit Agency of the City of Temecula for Pujol Street Sidewalk Improvements; 3.2Authorize the Chairperson to execute the Agreement on behalf of the Agency in substantially the form attached to the Agenda Report; 3.3 Authorize the budgeted expenditure of $105,000 by the Redevelopment Agency for the Agency's share of costs to date and future project costs incurred as approved by the City or Agency. (Agency Member Stone abstained with regard to Item No. 3.) Financial Statements for the three months ended September 30, 1999 RECOMMENDATION: 4.1 Receive and file the financial statements for the three months ended September 30, 1999. MOTION: Agency Member Naggar moved to approve Consent Calendar Item Nos. 1-4. Agency Member Comerchero seconded the motion and voice vote reflected approval with the exception of Agency Members Naggar and Pratt who abstained with regard to Item No. 1, and Agency Member Stone who abstained with regard to Item Nos. 2 and 3. AGENCY BUSINESS 5 Rehabilitation of Old Town Plaza (Circle K) in Old Town RECOMMENDATION: 5.1 Adopt a resolution entitled: RESOLUTION NO. RDA 99-24 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA APPROVING THAT CERTAIN OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA AND OLD TOWN PLAZA OWNERS DATES AS OF DECEMBER 14, 1999, FOR THE FA(;;ADE IMPROVEMENTS TO THE OLD TOWN PLAZA WITHIN REDEVELOPMENT PROJECT NO. '1-1988 Agency Member Stone advised that he would be abstaining from Agenda Item No. 5, and therefore left the dais. Senior Redevelopment Analyst Powers presented the staff report (per agenda material); and apprised the Council of the fa(;ade improvement project, highlighting the site location, the current state of disrepair, and the proposal to renovate the plaza in a manner that would be compliant with the Old Town Specific Plan. In response to Agency Member Comerchero's quedes, Director of Finance Roberrs provided additional information regarding the RDA funds, specifying that the funds that would be utilized for this particular loan would not be drawn from the RDA Board Reserve fund which yielded a higher rate of return. For Agency Member Naggar, Senior Redevelopment Analyst Powers relayed that the proper~y of discussion had appraised for $1,225,000 which was also the selling pdce; and specified that the first mortgage was for $925,000, noting that the loan would be in the amount of $55,000. MOTION: Agency Member Naggar moved to approve Staff Recommendation. Agency Member Comerchero seconded the motion and voice vote reflected approval with the exception of Agency Member Stone who abstained. DEPARTMENTAL REPORT No comments. EXECUTIVE DIRECTOR'S REPORT Executive Director Nelson commended the Redevelopment Agency for their support with respect to the faCade improvement project at the Old Town Plaza (Circle K), relaying that the project would compliment the $5.2 million that the City recently invested in the Old Town Streetscape Project. AGENCY MEMBERS'REPORTS In light of the recent improvements in Old Town Temecula, Agency Member Naggar encouraged the City, as well as the community, to utilize Old Town for various activity events. ADJOURNMENT At 8:22 P.M., the Temecula Redevelopment Agency meeting was formally adjourned to a regular meeting, January 11, 2000, at 7:00 P.M., City Council Chambers, 43200 Business Park Ddve, Temecula, California. Ron Roberts, Chairman ATTEST: Susan ~. Jones, CMC/AAE Agenc Secretary [SEAL]