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HomeMy WebLinkAbout05-31-1994 Acjourned City Council/RDA Meeting MINUTES ...-:-. ADJOURNED REGULAR JOINT CITY COUNCIL/ REDEVELOPMENT AGENCY MEETING CITY OF LAKE ELSINORE 183 NORTH MAIN STREET LAKE ELSINORE, CALIFORNIA TUESDAY, MAY 31, 1994 ***************************************************************** CALL TO ORDER The Adjourned Regular Joint City council/Redevelopment Agency Meeting was called to order by Chairman Winkler at 1:08 p.m. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was led by Chairman Winkler. ROLL CALL PRESENT: COUNCILMEMBERS/BOARDMEMBERS: ALONGI, CHERVENY, DOMINGUEZ, WINKLER, WASHBURN ABSENT: BOARDMEMBERS: NONE Also present were: City Manager/Executive Director Molendyk, __ Assistant City Manager/Assistant Executive Director Rogers, City Attorney/Legal Counsel Harper, Administrative Services Director Boone, Community Services Director Sapp, City Planner Leslie, Public Services Director Tecca, Acting Chief Building Official Russell, Special Projects Coordinator Wood, Manager of Special projects watenpaugh, City Treasurer Pape, City Clerk/Clerk of the Board Kasad. PUBLIC HEARING 1. Dis osition & Develo ment A reement - Red Lion Inn Hotels. f: 13,,\,\0 ex I, \.311.-0 City Manager/Executive Director Molendyk noted that this item was brought before the Joint Boards because of the time constraints on the developer and he explained that it is the .~ope of the developer to have a firm Disposition and Development Agreement by the end of the meeting. - Mr. Tim O'Byrne, president of Inland Pacific Property Counselors, Inc., thanked staff for their understanding and assistance. Mr. 0' Byrne explained that all of the dollars requested are going to be site specific. He explained that all of the financial assistance will be generated by the proposed project. Mr. O'Byrne explained that the economic assistance will be in the form of a promissory note executed by the City payable over a maximum term of 25 years. He explained that the funds for repayment of the note will come solely from the City's proceeds of bed tax, sales tax, and other taxes on fees the City is entitled to receive from the project. He stated that the City will retain the first $100,000 of proceeds per calendar year, with the remaining proceeds to be used to payoff the note. Mr. 0' Byrne explained the maximum cap on the project and the requested City commitment. PAGE TWO - ADJOURNED MINUTES - MAY 31, 1994 Mr. O'Byrne explained that the Red Lion have set five projects that they will be doing in the next year. Their budget deadline is next month and it will be another year if the budget deadline is not met. He stated that he felt that this was a very good project for the City and a good opportunity for Red Lion. Mr. O'Byrne stated that he was available for any questions that Council might have. Councilman/Chairman Winkler noted that the body of the Agreement does not state what will occur within the phases. He further noted that there is no reference to the Red Lion Hotels within the Agreement. He explained that he would like to have some definition of what will occur in the phases and see some reference to the Red Lion Hotels and Inns. Councilman/Chairman Winkler stated that he would like to have a letter from the Red Lion within 60 days which will state their satisfaction with the Agreement and have that requirement made part of the Agreement. - Mr. O'Byrne presented a letter to Council from the Red Lion Hotels and Inns which he felt would satisfy the request of Councilman/Chairman Winkler. Councilman/Chairman Winkler stated that he would still require a letter from the Red Lion to state their approval of this Agreement. He further noted that he would like to have time periods shortened regarding Performance in Section 7.2 to 3 and 1/2 years for Phase I because of the political terms of the Council. Mr. O'Byrne stated that he felt that 5 years was not unreasonable since his company will be putting up all the money for ErR's and studies. He explained that since the proposed project is in Redevelopment Agency Project No.1, the Redevelopment Agency does not have any Eminent Domain power remaining therefore the property settlement will take much longer. He stated that 3 and 1/2 years would be acceptable if there is a clause that allows for unforeseen circumstances beyond the Developer's control. -- Councilman/Chairman Winkler asked for clarification regarding the Conference Center, in Section 5.5 of the Agreement. Mr. 0' Bryne explained that the developer will be fronting the money for the Conference Center and the City will reimburse up to $1.5 million. City Manager/Executive Director Molendyk stated that he thought that the Developer would be responsible for $1.5 million and the City could be responsible for up to $1. 5 million if the Center cost $3 million. Mr. O'Byrne stated that the verbiage could be misunderstood, but the section addressing advancement to the city/RDA the amount of $1,500,000 to be reimbursed to the Developer. Councilman/Chairman Winkler stated that since Area I is an old project area the City would be receiving a certain increment already. He asked that the section be changed to $100,000 over and above what the City is already receiving. -- Mayor/Boardmember Washburn ask that Special Projects Coordinator Wood address Council with possible changes. City Manager/Executive Director Molendyk stated that the Council and Redevelopment Agency are negotiating for a first class Red Lion Inn for the public and not something less than what the City was led to believe. He explained that the staff is working closely with the developer to make sure it is a first class project. PAGE THREE - ADJOURNED MINUTES - MAY 31, 1994 Special Projects Coordinator Wood listed the following suggested changes: 1.4.4 Development of Site. The site shall be developed by the Developer as a hotel, Conference, Marina for Red Lion Hotels and Inns in accordance with and within the limitations established therefore in this Agreement. Developer, however, has the absolute right, and at its sole discretion, subject to the reasonable review by the Agency, to modify the site plan, to phase the development, or to not develop certain phases, to meet current economic needs. This includes, without limitation, re- parceling, re-zoning, etc. City/RDA hereby agrees to use their best efforts in assisting Developer to obtain all such items. 1.5 Closing Date. The term "Closing Date" shall mean the date(s) set for closing by Developer for each parcel of property within the Site. Such closing may be completed in phases and at Developer's discretion. All such closing of Phase I shall occur on or before July 1, 1998, from the date of execution of this Agreement, and the closing of Phase II shall occur on or before July 1, 2013, from the date of execution of this Agreement, unless extended by mutual agreement of the parties or governmental delay. Mr. O'Byrne stated that July 1, 1998, is acceptable, but he felt that July 1, 2002, would not give them the flexibility to perform that they will need to complete the project. - City Manager/Executive Director Molendyk explained that the biggest problems experienced by the City when they enter into DDA Agreements, is performance. He stated that if it is agreed to make the closing date for Phase I in four years and four years after Phase I for Phase II to close and there is a need to go to six years for Phase II then the Council can change the date, but if Council approves 10 years and 15 years respectfully, then Phase II might never happen. Mr. O'Byrne explained the difference in this Disposition and Development Agreement versus the other Agreements the City has entered into. Councilman/Chairman Winkler stated that he did not have a problem with a longer time for Phase II, it is the immediate push to get Phase I going. He stated that it was important to the Community to get immediate quality development at that end of the Lake. - City Manager/Executive Director Molendyk noted that Red Lion Inns wanted to come to the City of Lake Elsinore because of the feeling that they got from the older portion of town as well as the park. He explained that they will be sensitive to what is abutting their development as well as a way to phase into Main Street. Mr. Molendyk stated that the City Park would be that transition, but some of Council is uncomfortable with this concept since the Park has been there for a number of years. He stated that the park could be used as a landscape buffer and used as a means of connecting Main Street with the hotel. He asked Mr. Q'Byrne to explain the concept for City Park. Mayor/Boardmember Washburn stated that looking at the plans the park sits at the entrance and his concern is that he does not want to see the park as history because it is part of the Development Agreement. He asked that verbiage be placed PAGE FOUR - ADJOURNED MINUTES - MAY 31, 1994 into the Agreement which will preserve the park and allow Council to address this issue at a future date. Mr. O'Byrne indicated that the park could not be incorporated into the design as it exists today. It would be relandscaped to include walking and bike trails and blend with the landscaping of the rest of the project. Councilwoman/Boardmember Cherveny asked why the project could not include the park as it is. Mr. O'Byrne stated that the project design consultants stated that it would not be compatible. Mayor/Boardmember Washburn stated that a paragraph would have to be included which would provide for the retention of the City Park subject to the conformance within the plan of the Red Lion Project. councilman/Chairman Winkler stated that if it would not be compatible with the project it should be altered since it is a small price to pay for this project. Mr. O'Byrne stated that if they were unable to incorporate the park into the plan it would jeopardize the entire project. If the park can be incorporated in its existing state then it will be used as it is. He explained that there was one other issue that was important to this project and that was bringing the Lake up to Main street. This project would incorporate the Lake, hotel and downtown area. Special Projects Coordinator Wood stated that the City Park is not owned by the Agency, and cannot be given to the project. He explained that this property must either be sold or swapped for another piece of property of equal or greater value. He further suggested the following change to the Section regarding Conference Center: 5.5 Conference Center. At Developer's request, City/RDA hereby agree to grant Developer all costs of constructing a conference center facility and shall finance such facility with a C.O.P. or other similar financing device if legally and economically feasible. Such facility shall be owned by Agency or City and leased to Developer under a management contract for the longest period which will maintain the tax exempt status of any financing allowed by law. Under any management agreement, Developer shall pay City/RDA an amount equal to the City/RDA's payment obligation of the financing source. In the event there is no debt service by City/RDA then Developer shall pay an annual amount equal to the actual costs of constructing the conference center, amortized over a 30 year period at an interest rate of not more than 8% per annum. If C.O.P., or other similar financing source is not available, not viable, or impracticable, or Developer so chooses, Developer agrees to advance City/RDA the amount of such facili ty, not to exceed one million five hundred thousand dollars ($1,500,000) and such facility shall be granted to and owned by Developer and subject to the terms that are provided in Section 5.8 below. Councilwoman/Boardmember Cherveny asked how much revenue is currently being generated from the area proposed. Special projects Coordinator Wood explained that the only revenue is the property tax increment. She asked for the dollar amount of property tax being generated by that area. - .- - PAGE FIVE - ADJOURNED MINUTES - MAY 31, 1994 k d if city Manager/Executive Director Molendyk as e approximately 50% of the land in the proposed project area is currently vacant. Administrati ve Service Director Boone stated that it would be 50% or more land that is vacant. Mr. Wood explained that the values set at this time are from 1975 and will have to reappraised. ,- Mayor/Boardmember Washburn asked since part of this project is the intent to bring the hotel in for economic development, would it be possible to include the pocket along the Outflow Channel to Graham Avenue and then come back to Spring Street. Mr. O'Byrne explained that one of the problems with that concept is the expense. With the current project there will be a relocation of 23 units and the proposed area would be an extreme increase in cost. He stated that if the city wished to buy the property and locate the people involved that they would be glad to incorporate this into the project, but it would be a major expense. Mr. O'Byrne explained that because of the style of the hotel, it will not be filled up by local residents, the clientele will come from outside the community. He stated that because of that, the site will have to be conference facilities for Phase I, in Phase II it would be expanded to allow for convention facilities with 500 to 600 rooms. When the facility is built it will make the land surrounding the facility valuable for commercial and encourage the sale of the property. - Councilman/Boardmember Alongi asked if the conference facility is leased to the developer wouldn't the City loose the property tax. Special Projects Coordinator Wood explained that it would exclude property tax, but if the City does lease the Conference Center, the lessee would pay a possessory interest tax, which is equivalent to the property tax. Councilman/Boardmember Alongi asked if the possessory tax would be included in the lease amount. Mayor/Boardmember Washburn asked if the Conference Center is leased to the applicant the County would add a possessionary tax which would be equivalent to the lost property tax. Special Projects Coordinator Wood explained that this would be collected and then a portion would be given to the City. Councilman/Boardmember Alongi asked why the City would be giving the developer 50% of the fees. Special Projects Coordinator Wood explained that this would be addressed in part by a waiver of fees and no up-front money. Councilman/Boardmember Alongi asked if the City Park is included in Phase I of the project. Mr. O'Byrne stated that it was. Councilman/Boardmember Alongi then addressed Section 1.4.5 - Schedule of Performance and asked if this section meant that not only does the City loose the first park of the Ci ty, but it may not get the second phase. Mr. 0' Byrne explained that they are sensitive to the park and will try to preserve it if possible. City Manager/Executive Director Molendyk explained that if the developer presents two or three master plans and they are willing to enhance the area by bringing the water closer to Main Street, then the Council might like the concept better than what is being worked with now. Mayor/Boardmember Washburn made potential changes to the entrances. suggestions regarding PAGE SIX - ADJOURNED MINUTES - MAY 31, 1994 councilman/Boardmember Alongi questioned Section 5.7 Ci ty/RDA Fees, on line 21 and 27 where it states "best efforts" regarding water quality and water level. He pointed out the water is owned by E.V.M.W.D. Mr. O'Byrne explained that this clause was included to protect the city and it just confirms that the city will do all that is possible to address those issues. He explained that they are putting forth all the money to develop this project and they are taking all the risks for recovery of their funds. He stated that if anything were to jeopardize the ability for the project to make money, then they would loose it all. - Councilman/Boardmember Alongi asked if Mr. O'Byrne if the city goes ahead with the project and city agrees to repay portions of it and the developer fails would the city pay any more. Mr. O'Bryne explained that the funds up to $100,000 go to the city and then they (the developer) would receive any money thereafter. There was general discussion in regard to the financing. Mr. O'Byrne explained that the city of Lake Elsinore is currently not developed into a recreational conference town and the developer will have to create the market to accomplish this goal. Mayor/Boardmember Washburn stated that in Section 5.8 Advances to City/RDA addressed the advances to City/RDA and he stated that there should be a clause to allow for total pay- off prior to the end of 25 years as well as the possibility to built in cost-of-living increases. Mr. O'Byrne explained that a raise in the Cost of Living is one of the factors that have been figured in to the project for their investors. .... Councilwoman/Boardmember Cherveny stated that what is being discussed is not the tax increment site specific that is going back, but rather all the revenue that would be generated off of this site. She explained that it would include the tax increment, and that there is no revenue income stream flowing to the City; and stated that all of the bed tax has been listed as revenue and will not be coming to the City as well as all of the sales tax from future development and the property tax revenue. Councilwoman/Boardmember Cherveny stated that from all of that income, all that will be coming back to the City is $100,000. She would like to see just the tax increment be site specific and the $100,000 be allocated back to the City. She stated that in the Agreement it states that until the developer has fully paid for all the advances made, the City would maintain a minimum of 10% bed tax and would agree not to lower the bed tax without the developer's prior consent. She explained that the City is being limited as to what the Bed Tax can be, but the developer is getting it as well. Mayor/Boardmember Washburn stated that the Bed Tax can go up, but cannot be dropped below 10% and the increment alone would not pay back the debt. - councilwoman/Boardmember Cherveny stated that she is not trying to pay back the debt. She explained that if the Red Lion Inn wants to come into this community and build a Red Lion Inn, the City can provide some assistance for infrastructure, but she felt that the City did not need to pay them for building their hotel here. I I \ I I I I I I I I I I. I I -. -- PAGE SEVEN - ADJOURNED MINUTES - MAY 31, 1994 Mayor /Boardmember Washburn stated that he fel t that Councilwoman/Boardmember Cherveny missed the point. He explained that most cities would provide assistance above what is being made reference to in order to entice them because of the multiplying factors of dollars that it will bring to the community. Everything within the site area, except the $100,000 will go to payoff the debt. Councilwoman/Boardmember Cherveny questioned the dates for closing. Mayor Washburn/Boardmember Washburn confirmed the dates. councilwoman/Boardmember Cherveny asked if the pay back is 25 years or 20 years. Mr. O'Byrne explained that it is 20 years. She asked if there was a property profile of the persons who owned or rented the existing 25 units. Mr. O'Byrne stated that he did. She asked in the event the developer is not able to acquire all of the 25 units, will the developer rely on the city to exercise its power to Eminent Domain the property. city Attorney/Legal Counsel Harper explained that the RDA has no power of Eminent Domain in that Redevelopment Area. He stated that the only agency which could Eminent Domain is the City and the only way to exercise that power is to acquire property for the City as addressed in Section 5.2 - Property Acquisition. councilwoman/Boardmember Cherveny stated that the City is on an active cost recovery program and asked why the $35,000 fees are being waived. City Manager/Executive Director Molendyk explained that the developer is asking for that consideration and the City would budget $35,000 in RDA to pay those fees. Councilwoman/Boardmember Cherveny asked if those funds would be in the budget to pay for that. Administrative Services Director Boone stated that there would be funds available. Councilwoman/Boardmember Cherveny questioned the section regarding the marina and that the marina would be owned by the City and leased back to the developer and asked in regard to the sale of the marina. Mr. 0' Byrne explained that the $10,000 would be the remainder of the monies for the marina. He stated that his company will be making the payments to pay for the marina. Because the City can acquire the grants therefore the City and his company would become partners. Councilwoman/Boardmember Cherveny asked if the City was obligated to sell the marina. City Attorney/Legal Counsel Harper stated that under the provisions of this agreement the developer would have the right to purchase the marina. Mr. O'Byrne explained that if the City is unable to acquire grants or loans for the marina, then the developer will have to find the money to build the marina on their own and the City would not be a partner in the marina. He stated that it is not only better for his company for the City to acquire a grant or loan for the marina, but it is also better for the community. Mayor/Boardmember Washburn asked if the grant that the City has made application for is for this marina or another one. City Manager/Executive Director Molendyk stated that it would be for this one and would become the main marina for the Lake. Councilman/Boardmember Alongi asked if the developer will make a profit above the cost of the lease. Mr. O'Byrne stated they hoped that they would. Councilman/Boardmember Alongi stated that he felt that it was important for the public to understand that the developer is doing this for a profit and PAGE EIGHT - ADJOURNED MINUTES - MAY 31, 1994 not doing this as a favor to the City. He stated that if the City is going to put up the money to build this marina, then the developer should pay a lease for the marina. He further stated that he felt that at the end of the lease the developer should pay the fair market value of the marina at the time of sale. Mayor/Boardmember Washburn asked that the word "shall" be struck and "May" placed for the sale of the marina. City Attorney/Legal Counsel Harper explained the terms and how _ the marina could be sold. Mr. O'Byrne stated that they had no problem with the verbiage "sold at fair market value". He felt that it was more important to have the marina. Councilman/Boardmember Alongi questioned the sale of the marina or even leasing the marina. He stated that he felt that the marina should be owned and operated by the City and should not be a part of the hotel. City Attorney/Legal Counsel Harper explained that on its own there is no possibility of the City building a marina since there is no funding source for this type of facility. Councilman/Boardmember Alongi stated that if the City can build a ball field, it can find a way to build a marina. City Attorney/Legal Counsel Harper stated that if the ball field had not been built, then the City could build a marina, but there is no available tax increment to build a marina, therefore, the hotel project would expediate the building of a marina far faster than the City could. Ci ty Manager /Executi ve Director Molendyk explained that he _ felt that it is important for the public and private sector to work together and he stated since there is no firm plans regarding the marina, it would not be wise for the City to commit to a plan that they might not be able to fund. The type of marina that will be built might be publicly and privately funded to make the marina a reality. To clarify wi th Mr. 0' Byrne that a market is being created and the developer is asking some guarantee that the City wouldn't do a similar project for a hotel conference center for another hotel. Mr. Molendyk wanted to know if Mr. O'Byrne meant Hotel and Conference Center, or do they mean Hotel or Conference Center. He explained that this project will help the City to reach its goals and he can see where other hotels will want to come in to the City. City Attorney/Legal Counsel Harper explained that the Agency or City cannot provide any economic assistance to any other hotel or conference center, but it does not mean that another developer can't come in and build one. Mr. O'Byrne explained that it is only for the term of the agreement and if the City wishes to pay the debt sooner, then they are free to provide economic assistance to another facility. - Mayor Winkler opened the public hearing at 2: 29 and asked those persons interested in addressing the project to address Council. The following persons spoke: Will Buck, 29610 Hague, spoke in opposition to the project since it will block future assistance for other hotel projects. He explained that he is involved in the possibility of a hotel on Main Street and this project will block any assistance they might wish to apply for. He stated that the r I \ I i I I I I' I I I I I I i I I I I 1- PAGE NINE - ADJOURNED MINUTES - MAY 31, 1994 Red Lion Inn does not build unless they will have a 70% occupancy and just bed tax on 300 rooms will be $459,000 and that is a lot more than $100,000. He felt that past performance has shown that this developer is less.des~rab~e than other developers might be. He stated that th1s C1ty 1S on the verge of having a lot of other hotels desiring this area. He asked Council to hold off on their decision. City Attorney/Legal Counsel Harper explained that the agreement does not allow any economic assistance to any other hotel, but it does not include areas which are subject to a current disposition development Agreement. He stated that essentially all of East Lake is not subject to this DDA, but not the other area. Councilwoman/Boardmember Cherveny asked what section addresses this issue. City Attorney/Legal Counsel Harper stated that it was Section 5.7. Edith Stafford, stated her objection to the City involving itself in rush projects. She explained that she felt that this developer has not followed through with its promises and has her doubts in regard to this project. She asked that the Council consider other developers and other hotels. She stated that she felt that these rush projects occur right at election time and she felt that it is bad judgment on the part of Council. - Don Summers, 30713 Riverside Drive, stated that he would like to see the Red Lion go in, but he felt that there were several other areas in the community where hotels might build in other Redevelop Areas. He stated that the funding is like shutting the door on other developers. Joyce Smith, 4145 Crestview, stated that timing is very important and she appreciate what this Council has done and how much the community has improved. She stated her favor in building this hotel to improve the community. Mayor/Boardmember Washburn asked for any other persons who wish to address the issue to come forward. Hearing none the public hearing was closed at 2:45 p.m. Councilman/Chairman Winkler stated that he did feel that this project would block any other hotel from coming into the area. He stated that this will not block any other hotel, just any other assistance. Further, this is for the period of the loan only. He explained that this project will revitalize the end of Main Street and provide a marina. Mr. Winkler stated that the Red Lion Inns have a good reputation and will honor their commitments. MOVED BY WINKLER, SECONDED BY DOMINGUEZ TO MAKE THE FOLLOWING CHANGES AND APPROVE THE DISPOSITION AND DEVELOPMENT AGREEMENT __. BETWEEN THE CITY OF LAKE ELSINORE REDEVELOPMENT AGENCY, THE CITY OF LAKE ELSINORE AND INLAND PACIFIC PROPERTY COUNSELORS, INC.: (Pg. 22) 7.2 - Change 5 years to 3 1/2 years for performance. (Pg. 18) 5.8 - Add "over and above what the RDA/City already receive. (pa. 17) 5.7 - Line 8 "may" instead of "shall" (Pg. 15) 5.3 - instead of "20 years" place "July 1, 2005". PAGE TEN - ADJOURNED MINUTES - MAY 31, 1994 (Pg. 14) 5.2 - instead of "May 1, 2009" place "July 1, 2005". (Pg. 4) 1. 6 - instead of "wi thin 10 years" place "July 1, 1998" and instead of "within 15 years" place "July 1, 2005". (Pg. 4) 1.4.4 - add "as a hotel, conference center, and marina for the Red Lion Inns. Mr. O'Byrne stated that the Red Lion Inns has a hotel line called the Thunderbird. Councilman/Chairman Winkler stated -- that if the Red Lion Inns wishes to come back before Council they can ask for a different name. (Pg. 2) at end of second paragraph add "The project shall conform as much as possible to the phases of this project and a status report will be submitted to the City Council monthly. MOVED BY ALONGI, SECONDED BY CHERVENY BY A SUBSIDIARY MOTION TO POSTPONE THIS ITEM UNTIL THE NEW COUNCIL IS SEATED. Councilwoman/Boardmember Cherveny stated that she felt that the 11th hour presentation of a DDA Agreement is not good. She stated that she likes the facility, but she has some problems with the repayment portion of it. She explained that she has a real problem with eliminating the City Park because she felt that it does have some historic value to the City. She stated that she understood timelines, but she does not approve of rushing in and approving a project just for budget purposes of the Red Lion Inn. Councilwoman Cherveny stated that she would like to see Council take its time and review all the other facilities that may be coming before Council. She stated that this should be addressed by the new Council. Councilman/Boardmember Dominguez stated that if anyone had -- sentiment toward the City Park he does. He explained that he was one of the persons who helped to refurbish the City Park. He commended Mrs. Smith for her opinion and stated that this City is on the move and some areas will not be able to be preserved because of progress and that must be taken into account. Mayor/Boardmember Washburn called for the vote on the subsidiary motion. THE SUBSIDIARY MOTION FAILED BY A VOTE OF 2 TO 3 WITH DOMINGUEZ, WINKLER AND WASHBURN CASTING THE DISSENTING VOTES. THE MAIN MOTION WAS APPROVED BY A VOTE OF 3 TO 2 WITH ALONGI AND CHERVENY CASTING THE DISSENTING VOTES. ADJOURNMENT MOVED BY WINKLER, SECONDED BY DOMINGUEZ AND CARRIED BY UNANIMOUS VOTE TO ADJOURN THE ADJOURNED REGULAR JOINT CITY COUNCIL/REDEVELOPMENT AGENCY MEETING AT 2:55 P.M. -- ,.___.__n____,__,_,__"__ ~,w__.,,_.~"._,,~ ,--~..".. -" "' . - ~_..,,," -,",'- ..,~-,..- - - .' . PAGE ELEVEN - ADJOURNED MINUTES - MAY 31, 1994 - ~ ~cD JIM WINKLER, CH IRMAN REDEVELOPMENT AGENCY riu VICKI KASAD, CLERK OF REDEVELOPMENT AGENCY THE BOARD -