HomeMy WebLinkAbout080895 RDA Minutes MINUTES OF A REGULAR MEETING
OF THE TEMECULA REDEVELOPMENT AGENCY MEETING
HELD AUGUST 8, 1995
A regular meeting of the City of Temecula Redevelopment Agency was called to order at 9:30
PM at the Community Recreation Center, 30875 Rancho Vista Road, Temecula, California.
Chairperson Ronald J. Parks presiding.
PRESENT: 5 AGENCY MEMBERS:
Birdsall, Lindemans, Roberts,
Stone, Parks
ABSENT: 0 AGENCY MEMBERS: None
Also present were Executive Director Ronald E. Bradley, General Counsel Peter Thorson and
City Clerk June S. Greek.
PUBLIC COMMENTS
None given.
CONSENT CALENDAR
It was moved by Agency Member Stone, seconded by Agency Member Roberts to approve
Consent Calendar Item 1.
1. Minutes
1.1 Approve the minutes of July 25, 1995.
The motion was unanimously carried.
AGENCY BUSINESS
2. Proposed Purchase and Resale of Rancho West Apartments
Senior Planner John Meyer presented the staff report regarding the
establishment of 150 affordable housing units. Agency Member Roberts
requested a stipulation in the Agreement concerning the CVHC property is not
performing correctly, the apartment building will be returned to the City of
Temecula". Senior Planner Meyer responded that the Agreement was in
process and that stipulation would be included.
It was moved by Agency Member Lindemans, seconded by Agency Member Birdsall to
approve staff recommendation.
The motion was carried with Agency Member Stone abstaining.
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2.1
Authorize submission of an offer to purchase the Rancho West
Apartments from the Resolution Trust Corporation for a total of
$2,255,000.
2.2
Authorize the subsequent resale of the project to Coachella
Valley Housing coalition (CVHC) for operation as an affordable
housing project in perpetuity.
2.3
Authorize the execution of a regulatory agreement with CVHC
subject to the approval of the Executive Director and City
Attorney.
2.4
Authorize the expenditure of housing set-aside funds in the
amount of $90,3090to fund acquisition expenses for the Rancho
West Apartments.
EXECUTIVE DIRECTOR'S REPORT
Executive Director Bradley advised Council that during the August 22, 1995 meeting they may
be requested to adjourn to August 31, 1995 for a Special Meeting on the Old Town
Entertainment Project.
AGENCY MEMBER'S REPORTS
None given.
ADJOURNMENT
The meeting was adjourned at 9:39 PM. to a meeting on August 22, 1995, time certain
following City Council Consent Calendar, 30875 Rancho Vista Road, Temecula, California.
Ro~~Far//~ks,~Chairperson
City-Clerk/Agency Secretary
Minutes.rda\080895