Loading...
HomeMy WebLinkAbout06-28-2011 RDAMINUTES REDEVELOPMENT AGENCY MEETING CITY OF LAKE ELSINORE 183 NORTH MAIN STREET LAKE ELSINORE, CA 92530 TUESDAY, JUNE 28, 2011 CALL TO ORDER Chairwoman Melendez called the meeting to order at 8:15 p.m. ROLL CALL PRESENT: Chairwoman Melendez Vice-Chairman Tisdale Agency Member Hickman Agency Member Bhutta Agency 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, Parks and Recreation Kilroy, Planning Manager Morelion, and Agency Secretary Bloom. CLOSED SESSION (1a) CONFERENCE WITH REAL PROPERTY NEGOTIATOR (Gov't Code §54956.8) Property: A.P.N. 373-210-040 Negotiating Parties: Redevelopment Agency of the City of Lake Elsinore and Diamond Stadium Group, LLC Under negotiation: Price and terms of payment (1b) CONFERENCE WITH LEGAL COUNSEL -ANTICIPATED LITIGATION Initiation of litigation pursuant to subdivision (c) of Gov't Code Section 54956.9: 1 potential case Agency Counsel Leibold stated that the Agency met in Closed Session to discuss the two items listed and that there was no reportable action taken. PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE There were none PUBLIC COMMENTS - AGENDIZED ITEMS - 3 MINUTES There were none. Lake Elsinore Redevelopment Agency Page 2 of 4 Regular Meeting Minutes of June 28, 2011 CONSENT CALENDAR (2) Approval of Minutes Recommendation: It is recommended the Redevelopment Agency approve the following minutes: a) Regular Redevelopment Agency Meeting of June 14, 2011 (3) Warrant Lists Dated June 15, 2011 Recommendation: Authorize payment of Warrant Lists dated June 15, 2011. (4) Investment Report for May 2011 Recommendation: It is recommended that the Agency receive and file. It was moved by Agency Member Bhutta and seconded by Agency Member Hickman to approve the Consent Calendar. The vote passed unanimously. PUBLIC HEARING(S) (5) Redevelopment Agency Operating Budget for Fiscal Year 2011-12 Recommendation: It is recommended that the Agency adopt Resolution No. 2011- 009 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ADOPTING THE REDEVELOPMENT AGENCY OPERATING BUDGET FOR THE FISCAL YEAR 2011-12. Chairwoman Melendez opened the Public Hearing at 8:17 p.m. Director Riley provided an overview of the staff report to the Agency. No public comments were received. Chairwoman Melendez closed the Public Hearing at 8:20 p.m. It was moved by Agency Member Bhutta and seconded by Agency Member Hickman to adopt Redevelopment Agency Resolution No. 2011-009. The motion passed unanimously. BUSINESS ITEM(S) (6) Affordable Housing Financial Analysis (AMCAL and Central Valley Coalition for Affordable Housing Proposals) Recommendation: It is recommended that the Agency: (a) Review the KMA analysis, defer selection of a project at this time, and direct staff to return to the Agency Board within the next 90 days with a definitive analysis of available funds following resolution of the State budget and related proposals; or alternatively. Lake Elsinore Redevelopment Agency Regular Meeting Minutes of June 28, 2011 Page 3 of 4 (b) Review the KMA analysis, select a proposed project and direct Agency Counsel to prepare a definitive loan agreement up to the amount of the currently available unencumbered Housing Fund balance consistent with the recommended residual receipts financing structure. The disbursement of Housing Funds should be conditioned upon evidence of financing to be presented by the developer demonstrating the financial feasibility of the project to the satisfaction of the Executive Director. Any commitment of Housing Funds should be subordinate to existing Housing Fund obligations and any Agency payments to the Educational Revenue Augmentation Fund, Special District Augmentation Fund or similar fund established by state legislation necessary to avoid termination of the Agency. Redevelopment Agency Analyst Carlson provided an overview to the Agency. Mario Turner representing AMCAL Multi-housing provided a PowerPoint presentation to the Agency. Christina Alley representing Central Valley Coalition also provided a presentation of their proposal to the Agency. Agency Member Magee indicated he liked the proposals however the Agency does not have the funds. He stated that with respect to the AMCAL proposal, he was looking for the future financial impact of the residential designation versus the commercial designation, and pointed out that the development of the interchange would be ten years away. He stated at that location the City would risk high density residential making it difficult to add commercial. He added the RDA status is undetermined and the battle may continue for months. He said he would support the loan for AMCAL as long as it contains a senior site or phase 1 only and that the developer needed to revisit the ratio of low income verses very low income as discussed by Ron Hewison. Agency Member Hickman asked Agency Counsel Leibold what would happen should the project be approved and the RDA be eliminated? Agency Counsel Leibold stated the City would lose the future stream of tax increments and the existing fund balance which is estimated at $5.9 million would go to the dedicated projects. Agency Member Tisdale concurred with Agency Member Magee yet had concerns with the AMCAL proposal relating to cost of the land, land designation of low income and very low income and the location. He offered that it is a good project however does not like the location. Agency Member Bhutta thanked those who spoke about their proposals and shared some of her concerns. She stated that AMCAL has a great reputation, however the location was her primary concern. Chairwoman Melendez pointed out that both AMCAL and Central Valley Coalition have great reputations and provide great products, however she is not inclined to approve either project as it is too early due to the uncertainty of the RDA. She stated the location is questionable and does not want to lose out on any commercial opportunities and if the RDA is eliminated the housing requirements will be uncertain. Lake Elsinore Redevelopment Agency Regular Meeting Minutes of June 28, 2011 Page 4 of 4 It was moved by Agency Member Magee and seconded by Vice-Chair Tisdale that the Agency Board review the KMA analysis, defer selection of a project at this time, and direct staff to return to the Agency Board within the next 90 days with a definitive analysis of available funds following resolution of the State budget and related proposals. The motion passed unanimously. EXECUTIVE DIRECTOR COMMENTS There were none. LEGAL COUNSEL COMMENTS There were none. AGENCY MEMBER COMMENTS There were none. ADJOURNMENT There being no further business to come before the Agency, the meeting adjourned at 8:48 p.m. to a regular meeting to be held on Tuesday, July 12, 2011 at the Cultural Center located at 183 N. Main Street, Lake Elsinore CA. Melissa Melendez, Chairwoman Redevelopment Agency ATTEST: Virginia 4. Bloo gency Secretary