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HomeMy WebLinkAbout01-25-2011 RDA (2)MINUTES REDEVELOPMENT AGENCY MEETING CITY OF LAKE ELSINORE 183 NORTH MAIN STREET LAKE ELSINORE, CA 92530 TUESDAY, JANUARY 25, 2011 .......................................................................... ............................... CALL TO ORDER Chairwoman Melendez called the meeting to order at 7:16 p.m. ROLL CALL PRESENT: CHAIRWOMAN MELENDEZ VICE - CHAIRMAN TISDALE MEMBER BHUTTA MEMBER HICKMAN MEMBER MAGEE ABSENT: NONE Also present: Executive Director Brady, Agency Counsel Leibold, Director of Administrative Services Riley, Public Works Director /City Engineer Seumalo, Director of Lake and Aquatics Kilroy, and Office Specialist Porche. CLOSED SESSION (1 a) Conference with Real Property Negotiator — (Gov't Code $ 54956.8) Property: APN 373 - 023 -026 Agency Negotiator: Executive Director Brady Negotiating Parties: Lake Elsinore Redevelopment Agency and Mamie Miller Hunt Estate Under Negotiation: Price and terms of Payment (1 b) Conference with Legal Counsel — Anticipated Litigation — Initiation of litigation pursuant to subdivision © of Gov't Code Section 54956.9 CLOSED SESSION REPORT Agency Counsel Leibold announced that Items 1a and 1b were discussed during closed session and there is no reportable action. Lake Elsinore Redevelopment Agency January 25, 2011 Page 2 of 5 CONSENT CALENDAR (2) Warrant Lists Dated January 13, 2011 Recommendation: Authorize payment of Warrant Lists dated January 13, 2011. (3) Investment Report — December 2010 Recommendation: Receive and File the Investment Report for December 2010. (4) City Clerk Employment Agreement Recommendation: It is recommended that the City Council (1) adopt Resolution No. 2011 -008 approving the City Clerk Employment Agreement and the Agency Board approve the City Clerk Employment Agreement is substantially the form attached and authorized the Mayor and Chairwoman to execute the Agreement subject to any minor modifications as may be approved by the City Attorney /Agency General Counsel and (2) that the Council and Agency Board confirm and appoint the City Manager /Executive Director as Acting City Clerk /Agency General Counsel. It was moved by Agency Member Bhutta and seconded by Agency Member Hickman to approve the Consent Calendar. The motion unanimously carried by the following vote: AYES: Agency Members: Bhutta, Hickman, Magee, Vice -Chair Tisdale and Chairwoman Melendez. Noes: None. PUBLIC HEARING(S) (5) Public Hearing — Resolution Approving the Issuance of Lake Elsinore Public Financing Authority Tax Allocation Revenue Bonds (Launch Ramp Protect) 2011 Series A, In the Aggregate Principal Amount Not to Exceed $6,000,000: Approving a Bond Purchase Contract A Protect Area No. 1 Loan Agreement A Continuinq Disclosure Agreement and A Preliminary Official Statement and Authorizing the Taking of Certain Other Actions Related Thereto: (2) Resolution of the City Council of the City of Lake Elsinore, California, Making Findings Pursuant to Health and Safety Code Section 33445.1 Relating to Payment of All or Part of the Costs of the Boat Launch Project (3) Resolution of the Redevelopment Agency of The City Council of the City of Lake Elsinore, California, Approving the Funding of the Boat Launch Proiect. Recommendation: It is recommended that the Redevelopment Agency; (1) Adopt Agency Resolution No. 2011 -001 authorizing issuance of bonds and authorize bond documents; and (2) adopt Agency Resolution No. 2011 -002 authorizing the funding of the Boat Launch Project. Lake Elsinore Redevelopment Agency January 25, 2011 Page 3 of 5 Chairwoman Melendez opened the Public Hearing at 7:16 p.m. Director of Administrative Services Riley provided a reading of the staff report. The Redevelopment Agency, City Council and the Public Finance Authority discussed the project as a whole. Chairwoman Melendez noted that the grant funds were received in 2005 and asked if there was a penalty for pre - paying the bonds. Don Hunt with Fulbright and Jaworoski stated that the bonds could be pre -paid without penalty in five years. Chairwoman Melendez asked for an explanation of the details this project would provide. Director of Lake and Aquatics Kilroy stated that the improvements to the area were based on the recommendations of the Public Safety Advisory Committee's. Agency Member Hickman explained to the public that this is a start to improve the campground. He asked if the construction does not use up the entire amount of the estimated funds, could the remaining funds be used in escrow. City Attorney Leibold stated based on the engineers report, staff does not anticipate there would be any funds remaining. However if there are funds remaining, the funds could be spent on legible improvement, or the funds could be used to pay off the bonds. Agency Member Tisdale asked why it took so long for this project to get underway. Director of Lake and Aquatics Kilroy stated there were public safety concerns and the downturn of the economy. Agency Member Tisdale asked how staff planned on advertising the improvements to the public. Director of Lake and Aquatics Kilroy stated that there would be a grand opening event and posted on the City's Web site. Chairwoman Melendez asked if there were left over funds, could the irrigation system in the area be improved. Director of Lake and Aquatics Kilroy stated that there could be an opportunity to put the extra funds to good use. Agency Member Bhutta stated that she is excited to see this project move forward. It was moved by Agency Member Magee and seconded by Agency Member Hickman to adopt Resolution No. 2011 -001, approving the funding of the Boat Launch Project. The motion unanimously carried by the following vote: AYES: Agency Members: Bhutta, Hickman, Magee, Vice -Chair Tisdale and Chairwoman Melendez, Noes: None. It was moved by Agency Member Magee and seconded by Agency Member Hickman to adopt Resolution No. 2011 -002, approving the issuance of the Lake Elsinore Public Financing Authority Tax Allocation Revenue Bonds (Launch Ramp Project), 2011 Series A, in The Aggregate Principal amount not to exceed $6,000,000; approving a bond purchase contract, a Project Area No. 1 loan agreement, a continuing disclosure agreement and a preliminary official statement; Lake Elsinore Redevelopment Agency January 25, 2011 Page 4 of 5 and authorizing the taking of certain other actions related thereto. The motion unanimously carried by the following vote: AYES: Agency Members: Bhutta, Hickman, Magee, Vice -Chair Tisdale and Chairwoman Melendez, Noes: None. BUSINESS ITEMS) (6) Souvenir Store Expansion at Diamond Stadium Utilizinq RDA Capital Repair Funds Recommendation: It is recommended that the Agency (1) consider the Diamond Stadium Group's proposal and provide direction to the Executive Director; and (2) if direction to go forward is provided, further direct the Executive Director and Agency General Counsel to coordinate with DSG regarding an implementation of the proposed improvements, including submission of plans, construction management and coordination, division of financial responsibility, etc.; and (3) prior to DSG entering into a contract for construction of the proposed improvements, direct the Executive Director to prepare a "not to exceed" budget for the full cost of the improvements and submit such budget to the Agency Board for final approval. The motion unanimously carried by the following vote: AYES: Agency Members: Bhutta, Hickman, Magee, Vice -Chair Tisdale and Chairwoman Melendez, Noes: None. Director of Lake and Aquatics Kilroy provided an overview of the project to the Agency. Agency Member Tisdale asked if the funds for this project would be considered reimbursable. Director of Lake and Aquatics Kilroy answered that the funds come from a deposit that the Redevelopment Agency must contribute $300,000.00 every year per the agreement with the Diamond Stadium Group. Agency Member Bhutta asked if the Agency has made the contribution for the $300,000.00 for this year. Director of Lake and Aquatics Kilroy answered yes. It was moved by Agency Member Hickman and seconded by Agency Member Magee to consider the Diamond Stadium Group's proposal and provide the direction to the Executive Director; to further direct the Executive Director and Agency General Counsel to coordinate with DSG regarding an implementation of the proposed improvements, including submission of plans, construction management and coordination, division of financial responsibility, etc; and prior to DSG entering into a contract for construction of the proposed improvements, direct the Executive Director to prepare a "Not to Exceed" budget for the full cost of the improvements and submit such budget to the Agency Board for final approval. Chairwoman Melendez requested Mr. Oster to explain the funding process to the public. Mr. Oster stated that he has been working with the Executive Director and Lake Elsinore Redevelopment Agency January 25, 2011 Page 5 of 5 Mr. Kilroy on that subject by making sure that there are enough funds in case a repair should be necessary. He stated under the agreement, no funds have been used and feels confident that there are no major issues. PUBLIC COMMENTS — NON - AGENDIZED ITEMS — 1 MINUTE There were none. PUBLIC COMMENTS — AGENDIZED ITEMS — 3 MINUTES There were none. EXECUTIVE DIRECTOR COMMENTS There were none. LEGAL COUNSEL COMMENTS There were none. BOARD MEMBER COMMENTS There were none. ADJOURNMENT There being no further business to come before the Agency Board, the meeting adjourned at 8:51 p.m. to a regular meeting to be held on Tuesday, February 8, 2011, at 7:00 p.m. in the Cultural Center located at 183 N. Main Street, Lake Elsinore, CA 92530. MELISSA MELENDEZ, CHAIRWOMAN REDEVELOPMENT AGENCY ATTEST: RO RT A. BRAbY, EXVCUTIVE DIRECTOR APENCY SECRETARY LAKE ELSINORE REDEVELOPMENT AGENCY