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HomeMy WebLinkAbout7/3/1985 - HA MINUTES MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS JULY 3, 1985 A Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, July 3, 1985, at 8:15 p.m. ROLL CALL: Present: Members Foster, Maryanov and Chairman Bogert Absent: Members Birer and Smith (NOTE: For activation of the Authority, see Council Resolution 15589, adopted this date. ) 1 . DESIGNATING OFFICERS Resolution 1 , designating the Mayor and Mayor pro tem as Chairman and Vice-Chairman, and the City Manager and City Clerk as the Executive Director/Secretary and Assistant Secretary, respectively; and delegating authority to sign resolutions adopted by the Authority to the Executive Director, was presented ; after which, it was moved by Foster, seconded by Maryanov, and unanimously carried, Birer and Smith absent, that Resolution 1 be adopted. 2. HAP #1 - WARMINGTON CAPITAL CORPORATION Resolution 2, to provide for the issuance of revenue bonds to finance multi-family housing development, known as Warmington Capital Apartments, east of North Palm Canyon Drive and south of Alvarado (refer to City P.D. 169) , in amount of $5 million ; and designating Morgan, Lewis and ' Bockius, as bond counsel , therefore, was presented; after which, it was moved by Foster, seconded by Maryanov, and unanimously carried, Birer and Smith absent, that Resolution 2 be adopted. 3. HAP #2 - R. L. SIMPSON & JOHN ANDERHOLT Resolution 3, to provide for the issuance of revenue bonds to finance multi-family housing development, on the NE corner of San Rafael and McCarthy Road, (refer to City P.D. 167) , in amount of $5 million; and designating Morgan, Lewis and Bockius, as bond counsel , therefore, was presented; after which, it was moved by Foster, seconded by Maryanov, and unanimously carried, Birer and Smith absent, that Resolution 3 be adopted. 4. RIVERSIDE COUNTY HOUSING AUTHORITY - COOPERATION AGREEMENT Resolution 4, directing staff to develop cooperation agreement to place all housing authority responsibilities with the County, except bond issuance, which would remain with the Ilou: inq Aul,hority of I,hr Cil;y of Palm Springs, was presented ; dlLer which, iL was moved by 1-osLer, seconded by Maryanov, and unanimously carried, Birer and Smith absent, that ' Resolution 4 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Assistant Secretary MINUTES OF� CITY OF PALM SPRINGS HOUSING AUTHORITY SEPTEMBER 4, 1g85 A Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Chairman Bogert', in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, September 4, 1985 at 7:30 p.m. ROLL CALL: Present: Members 'Foster, Maryanov, Smith, Birer and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Foster, and unanimously carried, that the Minutes of July 3, 1985 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. MEETING SCHEDULE Resolution 5 to establish regular meeting schedules for the Authority as those of the City Council , i .e. 1st & 3rd Wednesdays, 7:30 p.m. was presented; after which, it was moved by Maryanov, seconded by Birer',, and unanimously carried that Resolution 5 be adopted. 2. WARMINGTON CAPITAL PROJECT - UNDERWRITING SERVICES Economic Development and Housing Coordinator reviewed her report dated September 4, 1985 and stated that this project, ' competitively, is slightly below what has been seen in other projects, and that payment of the debt is not the responsibility of the Housing Authority, but that of the developer, and fees in connection with underwriting services would be paid from the proceeds of the bond issue and are due only in the event that the issue closes. She recommended approving the agreement with) Drexel Burnham Lampert for underwriting services in connection with Warmington Capital Projects, City PD-169 Resolution 6 approving the agreement, as recommended, was presented; after which, it was moved by Foster, seconded by Smith, and unanimously carried that Resolution 6 approving Agreement #H-1 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned and members reconvened as the City Council . JUDITH SUMICH Assistant Sedretary e. a MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS OCTOBER 2, 1985 A Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, October 2, 1985, at 7:30 p.m. ROLL CALL: Present: Members Birer, Foster, Maryanov, Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Foster, seconded by Smith, and unanimously carried, that the Minutes of September 4, 1985 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1 . FINANCING - ISSUER'S FEE Recommendation: That the Authority establish an issuer' s fee of 1/4 point for issuance of tax exempt bonds for private development. This item reviewed at the last study session ; no further report was given. Resolution 7, establishing the policy as recommended, was ' presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 7 be adopted. 2. SECTION 14 - CASA VERDE ASSOCIATES Recommendation: That the Authority provide inducement concerning revenue bond issue of up to $15 million to finance up to 290-unit apartment project on NE corner Amado and Hermosa, Casa Verde Associates. Report highlighted by Economic Development & Housing Coordinator. Resolution 8 providing inducement, as recommended, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 8 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM 'SPRINGS NOVEMBER 12', 1985 An Adjourned Regular Meeting of the Housing Authority of the City of Palm Springs was called to order liy Chairman Bogert, in the Large Conference Room, City Hall , 3200 Tahquitz-McCallum Way, on Tuesday, November 12, 1985, at 3 p.m. ROLL CALL: Present: Members Bire'r, Foster and Chairman Bogert Absent: Members Maryanov & Smith LEGISLATIVE ACTION: 1 . DESERT FLOWER APARTMENTS - SECTION, 24 - DESERT FLOWER INVESTMENTS Recommendation: That the Authority adopt inducement resolution, in amount of $8. 5 million, for construction of 129 apartment units on the corner of East Palm Canyon and Farrell Drive. Economic Development & Housing Coordinator reviewed the report of the Director of Community Development, and stated that the Council had provided the inducement, but a change in partnership formation name ',necessitates a new resolution (previously Contractors Development Corporation) . Resolution 9, providing inducement, as recommended, was ' presented ; after which, it was moved by Birer, seconded by Foster, and unanimously carried, Maryanov and Smith absent, that Resolution 9 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Assostamt Secretaru MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS DECEMBER 4, 1985 A Regular Meeting of the City Council was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, December 4, 1985, at 7:30 p.m. ROLL CALL: Present: Members Birer, Foster, Maryanov, Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Smith, and unanimously carried, that the Minutes of October 2, 1985 be approved. PUBLIC HEARING: 1 . SECTION 24 - DESERT FLOWER Recommendation: That the Authority hold TEFRA Hearing regarding issuance of up to $8. 5 million tax exempt bonds to finance Desert Flower Investments' 129-unit rental project north of East Palm Canyon, east of Farrell . No action required following report and hearing. Report highlighted by Economic Development & Housing Coordinator. (52) Chairman declared the hearing opened ; there were no appearances. No action. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH US MICH Asst. Secretary 1 MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS DECEMBER 18, ',1985 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bogert,, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, December 18, 1985, at 7:30 p.m. ROLL CALL: Present: Members Birer, , Foster, Maryanov, Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Maryanov, seconded by Smith, and unanimously carried, that the Minutes of November 12, 1985 be approved. LEGISLATIVE ACTION: 1 . SECTION 24 - DESERT FLOWER APARTMENTS Recommendation: That the Authority authorize issuance of v8.5 million in tax exempt MRBs to finance Desert Flower Apartments located at East Psalm Canyon and Farrell Drive, Section 24 (Contractors Development Corp) . Report highlighted by Economic Development & Housing Coordinator. Resolution 10, authorizing issuance as recommended, was presented; after which, it was moved by Smith, seconded by Maryanov, and unanimously carried, that Resolution 10 be adopted. ADJOURNMENT (52) ' There being no further business, Chairman declared the meeting adjourned. / JUDITH SUMICH Assistant Secretary t MINUTES OF - HOUSING AUTHORITY CITY OF PALM SPRINGS OCTOBER 15, 1986 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, October 15, 1986, at 7:30 p.m. ROLL CALL: Present: Authority Members Birer, Foster, and Chairman Bogert Absent: Members Apfelbaum and Smith PUBLIC COMMENTS - None PUBLIC HEARINGS - None LEGISLATIVE ACTION: 1. SECTION 22 - CASA DEL SOL (JOHN WESSMAN DEVELOPMENT CO. ) Recommendation: That the Authority approve inducement for a Mortgage Revenue Bond issue in an amount not to exceed $5.5 million for the John Wessman Development Company for construction of a 104 unit apartment building to be located on Belardo Road, south of Morongo Road (within PA3). Report highlighted by Economic Development & Housing Director. Resolution 11, approving inducement as recommended, was presented; after which, it was moved by Birer, seconded by Foster, and unanimously carried, Apfelbaum and Smith absent, that Resolution 11 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SO CH Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS JULY 5, 1988 A Special Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bono, in the Council Chamber, 32010 Tahquitz-McCallum Way, on Tuesday, July 5, 1988, at 7:30 p.m. ROLL CALL: Present: Authority Members Apfelbaum, Broich, Foster, Neel and Mayor Bono APPROVAL OF MINUTES: It was moved by Broich, seconded by Apfelbaum, and unanimously carried that the Minutes of December 4 and 18, 1985 and October 15, 1986 be approved. PUBLIC COMMENTS: a) Bob Dausey, 1300 Newport Beach, representing Mr. Sandor, asked approval of the project. LEGISLATIVE ACTION: 1. PALM SPRINGS VIEW APARTMENT - LAZLO SANDOR Recommendation: That the Council approve a Resolution of Inducement for a $5 million bond issue for the Paln, Springs View Apartments (Laz,lo Sandor) for a multi-family housing project on the NE corner of San Rafael and McCarthy ' Road. Economic Development and Housing Coordinator reviewed staff report given in detail at study session, and added that the Authority would have a chance to vote on this bond issue, and that this was just the first phase. Counciimember Apfelbaum commented how pleased she was with the project, and that it was a needed project in Palm Springs. Resolution 12 of Inducement for a $5 million bond issue for the Palm Springs View Apartments (Laszlo Sandor) for a multi-family housing project on the NE corner of San Rafael and McCarthy Road was presented, after which; it was moved by Apfelbaum, seconded by Neel , and unanimously carried that Resolution 11 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. - PATRICIA A. BODE Acting Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS MAY 17, 1989 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Vice-Chairman Apfelbaum, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, May 17, 1989, at 7:30 p.m. ROLL CALL: Present: Authority Members Apfelbaum, Broich, Foster, and Neel Absent: Chairman Bono APPROVAL OF MINUTES: It was moved by Neel , seconded by Foster, and unanimously carried, that the Minutes of July 5, 1988 be approved. ADJOURNMENT There being no further business, Vice-Chairman declared the meeting adjourned to Tuesday, May 30, 1989, at 2 p.m. , in the Large Conference Room, City Hall . C. � '- (__JUDITH SUMICH Assistant Secretary 1 - i2 MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS MAY 30, 1989 An Adjourned Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Vice-Chairman Apfelbaum, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, May 30, 1989. ROLL CALL: Present: Members Apfelbaum, Broich, Foster, and Neel Absent: Chairman Bono PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PS VIEW APARTMENTS Recommendation: That the Authority authorize issuance of $5.265 million tax exempt bo,i.ds for the Palm Springs View Apartments, a 119-unit ', prnject on San Rafael and MacCarthy. Housing Coordina',tor highlighted report of Director of Economic Developmori'.. Resolution 013, as recommended, was presented; after which, it was moved by Broich, seconded by Foster, and unanimously carried, Bono absent, that R013 be adopted. ADJOURNMENT There being no further business, Vice-Chairman declared ' the meeting adjourned., JUDITH SUMICH Assistant Secretary MINUTES OF HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS JUNE 21, 1989 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bono in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, June 21, 1989. ROLL CALL: Present: Members Apfelbaum, Broich, Foster, Neel and Chairman Bono Absent: None APPROVAL OF MINUTES: It was moved by Apfelbaum, seconded by Foster, and unanimously carried, that the Minutes of May 30, 1989 be approved. PUBLIC COMMENTS: - See Item 1 LEGISLATIVE ACTION: 1 . PALM VILLAGE APARTMENTS Recommendation: That the Authority provide an inducement for the Palm Village Apartments of $4 million, for 66 units to be constructed on the SE corner of Indian and San Rafael . Note: Under the Public Comments portion of the agenda, ' Dick Griffin, 300 Molino Road, stated that 38 property owners of the Riviera Garden Tract are opposed to the project, and feel the Council acted wrongly in approving the planned development district, and the proposed action will sabatage their neighborhood. City Housing Coordinator highlighted report of Director of Economic Development, which had been reviewed in detail at the last study session; and in answer to question by Authority, she stated that there are other projects in the community which have a mixture of low income housing and market rate housing; and that the subject project will be 20% for low income, and 80% at market rental . Resolution 014, as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Neel , and unanimously carried, that R014 be adopted. ADJOURNMENT There being no further business, Mayor declared the meeting adjourned. JUDITH SUMICH Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS SEPTEMBER 6,, 1989 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bono in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, September 6, 1989, at 7:30 p.m. ROLL CALL: Present: Authority Members Apfelbaum, Broich, Foster, Neel and Chairman Bono Absent: None APPROVAL OF MINUTES: It was moved by Apfelbaum, seconded by Broich, and unanimously carried, that the Minutes of June 21, 1989 be approved. PUBLIC COMMENTS - None LEGISLATIVE ACTION: 1. SECTION 11 - CONARD/COLE Recommendation: That the Authority indicate intent to issue tax-exempt, multifamily revenue bonds not to exceed $6.75 million as inducement to provide financing in connection with a 101-unit elderly board and care facility on the South side of Vista Chino, between Sunrise Way and Avenida Caballeros, with 20% of the units to be made available for very low income, seniors. ' Res 15, as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Broich, and unanimously carried, that R15 be adopted., ADJOURNMENT There being no further business, Mayor declared the meeting adjourned. JUDITH SUMICH City Clerk i MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS OCTOBER 4, 1989 A Regular Meeting of the-.Housinv klthnrity wascalled to order by Vice Chairman Apfelbaum, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, October 4, 1989, at 7:30 p.m. ROLL CALL: Present: Authority Members Apfelbaum, Broich, Foster, and Neel Absent: Chairman Bono APPROVAL OF MINUTES It was moved by Foster, seconded by Broich, and unanimously carried, Bono absent, that the Minutes of September 6, 1989, be approved. PUBLIC COMMENTS - None LEGISLATIVE ACTION: 1. SECTION 12 - PALM SPRINGS LIVING CENTER Recommendation: That the Authority provide a Bond Inducement for the Palm Springs Living Center "Congre-Care" project on the east side of Sunrise Way, between Amado Road and Desert Palms (PD 203, Section 12). Housing Specialist reported that the inducement is for a 60-unit care facility for the elderly, on 1.4 acres, of which 20% (152- will be set aside and made affordable to very low income 009) seniors. Resolution 16, as recommended, was presented; after which, it was moved by Foster, seconded by Broich, and unanimously carried, that R16 be adopted. ADJOURNMENT There being no further business, Vice Chairman declared the meeting adjourned. �y] DITH SUMICH Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS APRIL 4, 1990 A Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Chairman Bono in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, April 4, 1990, at 7:30 p.m. ROLL CALL: Present: Authority Members Apfelbaum, Broich, Foster, Neel and Chairman Bono Absent: None APPROVAL OF MINUTES: It was moved by Foster, , seconded by Apfelbaum, and unanimously carried, that the Minutes of October 4, 1989, be approved. PUBLIC COMMENTS - None LEGISLATIVE ACTION: 1. WESTMARK COMMUNITIES Recommendation: That the Authority indicate its intent to issue obligations to provide financing in connection (152- with the multifamily housing' project proposed by Westmark 012) Communities, Inc. , for 192 units on the NW corner of Racquet Club and Sunrise Way. Report highlighted by Housing Specialist. Resolution 17, as recommended, was presented; after which, ' it was moved by Foster, ', seconded by Apfelbaum, and unanimously carried, that R17 'be adopted. 2. COACHELLA VALLEY HOUSING COALITION ' Recommendation: That the Authority indicate its intent to issue obligations to provide financing in connection with the multifamily housing project proposed by the Coachella Valley .Housing Coalition, for 60 units known as Seminole Gardens, 2607 Lilnden Way. Report highlighted ( 152- by Housing Specialist. 011) Resolution 18, as recommended, was presented; after which, it was moved by Neel , seconded by Apfelbaum, and unanimously carried, that R18 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. DITH SU Secretary 1 MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS FEBRUARY 20, 1991 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Bono, in the Council Chamber, 3200 Tahquitz Canyon, on Wednesday, February 20, 1991, at 7:30 p.m. ROLL CALL: Present: Members Broich, Hodges, Murawski , Neel and Chairman Bono Absent: None PUBLIC COMMENTS: None 1. P.S. VILLAGE APARTMENTS: Recommendation: That the Authority approve inducement for the acquisition and rehabilitation of the P.S. Village Apartments, approximately $8 million, 2786 E. Tahquitz Canyon Way. (Note: Including the stipulation that the Council review the item again before the obligations are issued). Housing Coordinator stated that the developer, Clyde Greco, had requested the issuance and selling of the tax exempt bonds to finance the purchase and rehabilitation of the Palm Springs Village Apartments; that the complex has 156 units; that a condition of the financing is that the developer will be required to dedicate 20% of the project's units as affordable to low income tenants; and that the bonds do not financially obligate the City. Councilmember Broich stated that rent control is a concern of the Council ; and asked if, by providing the financing, the developer be entitled to a hardship increase; that the inducement the city provides attractive financing for the developer; and that there should be guarantees that the landlord will not apply for a hardship increase to the Rent (152- Review Commission. 014) Councilmember Hodges questioned whether the developer be entitled to allowances for hardship increases based on all the apartments, or only those remianing after excluding the 20% set aside for low income. Councilmember Neel stated that in items such as this time is of the essence. City Attorney stated that staff could contact the developer regarding their intentions for hardship increases and report back to the Council ; and that the Rent Review Commission requested some guidelines, which his office is preparing. Housing Specialist stated that the Inducement Resolution is needed if the developer is to buy the property; that the issue of rent increases concerning the 20% low income set aside is governed by more stringent guidelines than the Rent Control Ordinance; that the apartment complex ' currently has a 30% vacancy rate; that the developer wants to improve the conditions for the tenants; that the Inducement Resolution would not be grounds for a hardship increase under rent control ; and that discussion has taken place regarding the issue of hardship increases, and that it is not the intent of the developer to apply for one. Authority Minutes 2-20-91, Page 2 1. P.S. VILLAGE APARTMENTS (Cont'd) Resolution 19, as recommended, was presented; after which, it was moved by Broich, seconded by Neel , and unanimously carried, that R19 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Assistant Secretary By: PATRICIA SANDERS Acting Assistant Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS MAY 1, 1991 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Bono, in the Council ' Chamber, 3200 Tahquitz Canyon Way, on Wednesday, May 1, 1991, at 7:30 p.m. ROLL CALL: Present: Authority Members Broich, Hodges, Murawski , Neel and Chairman Bono Absent: None LEGISLATIVE ACTION: 1. HOUSING AUTHORITY BY-LAWS Recommendation: That the Authority adopt By-Laws for the Housing Authority. City Manager reported that the bylaws proposed are consistent with other resolutions of the Authority; and provide a (152- compensation for Board members of $50 per meeting. 002) Resolution 20 as recommended, was presented; after which, it was moved by Broich, seconded by Neel , and unanimously carried, that R20 be adopted. ADJOURNMENT ' There being no further business, Chairman declared the meeting adjourned. '_�'JUDITH SUMICH Assistant Secretary MINUTES OF, LL� HOUSING AUTHORITY CITY OF PALM SPRINGS JUNE 5, 199',1 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Bono, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, June 5, 1991, at 7:30 p.m. ROLL CALL: Present: Members Broich, Hodges, Murawski , Neel and Chairman Bono Absent: None APPROVAL OF MINUTES: It was moved by Neel , seconded by Broich, and unanimously carried, that the Minutes of February 20, and May 1, 1991 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. P.S. VILLAGE APARTMENTS Recommendation: That the Authority adopt inducement indicating intent to issue $8 million bonds to finance the acquisition and rehabilitation of the P.S. Village Apartments at 2786 E. Tahquitz Canyon Way (new developer, Cove Properties Management Fund I) . (152- City Manager reviewed the staff report, and no further report 014) , was given. Resolution 21 as recommended was presented; after which, it was moved by Neel , seconded by Broich, and unanimously carried, that R21 be adopted. ADJOURNMENT There being no further business„ Mayor declared the meeting adjourned. _ JUDITH SUMICH -Sec-ret,ary r By: PATRICIA A. SANDERS Acting Secretary MINUTES OF THE CITY COUNCIL COMMUNITY REDEVELOPMENT AGENCY HOUSING AUTHORITY FINANCING AUTHORITY OF THE CITY OF PALM SPRINGS OCTOBER 2, 1991 A Regular Meeting of the City Council , and of the Community ' Redevelopment Agency, and of the Housing Authority, and of the Financing Authority of the City of Palm Springs, was called to order by Mayor pro tem/Vice-Chairman Broich in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, October 2, 1991, at7.30 p.m. ROLL CALL: Present: Council/Agency/Authority/ Members Broich, Hodges, Murawski , and Neel Absent: Mayor/Chairman Bono The meeting was opened with the Flag Salute and an invocation by Rev. David Jenkins, Community Church of Palm Springs. REPORT OF POSTING OF AGENDA: Report of City Clerk: Agenda posted in accordance with Council procedures on September 27, 1991. PRESENTATIONS: a) Mayor pro tem presented plaque of appreciation to former commissioner David Cantwell , HSPB. ' COMMUNITY REDEVELOPMENT AGENCY, PALM SPRINGS FINANCING AUTHORITY, AND HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS: Mayor pro tem/ Vice-Chairman convened the meeting in joint session as all entities. APPROVAL OF MINUTES: It was moved by Hodges, seconded by Neel , and unanimously carried, that the following minutes be approved: Housing Authority: June 5, 1991 Financing Authority: July 31, 1991 CRA: Sept. 4, & 18, 1991 Council : Sept 4, 10 & 18, 1991 PUBLIC COMMENTS: (3-minute limit per person on matters related to the Housing or Finance Authority, or the Community Redevelopment Agency, or the City Council regarding Item 2 - a separate Public Comments portion is provided for other matters related to the City Council ). Note: Although no one spoke at this time, public comments were permitted as noted. LEGISLATIVE ACTION: 1. INVESTMENT OF BOND PROCEEDS & ARBITRAGE TRACKING Recommendation: That the legislative bodies of each entity ' approve participation in the California Arbitrage Management Program (CAMP,) for the investment and tracking of proceeds from the issuance of bonds. City Manager highlighted the memorandum of Director of Finance. Council/PSFA/HA/CRA Minutes 10-2-91 Page 2 1. INVESTMENT OF BOND PROCEEDS (Continued) Housing Authority Res 22, Financing Authority Res 8, and Community Redevelopment Agency Res 816, each authorizing joining with other public agencies as a participant of the California Arbitrage Management Trust and to invest in shares of the Trust and in individual portfolios, were presented; after which, it was moved by Hodges, seconded by Neel , and unanimously carried, that R22, 8 and 816, respectively, be adopted. ADJOURNMENT There being no further business, Vice-Chairman declared the meeting adjourned. O DITH SUMICH �-� Secretary OL121 MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS NOVEMBER 20, 1991 A Regular Fleeting of the Housing Authority of the City of Palm Springs, California, was called to order by Vice-Chairman Broich, in the Council Chamber, 3200 Tahquitz Canyon Way on Wednesday, November 20, 1991, at 7:30 p.m. ' ROLL CALL: Present: Authority Members Broich, Hodges, Murawski , and Neel Absent: Chairman Bono PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. SAN CARLOS APARTMENTS: Recommendation: That the Authority approve Resolution of intent to issue obligations to provide financing in connection with the acquisition and rehabilitation of a multifamily residential rental project and related facilities known as San Carlos Apartments. City Manager reviewed the staff report. City Attorney stated that approval of the Inducement Resolution will not be binding, but will allow the developer to proceed with financing; that any expenses that the developer incurs will be eligible within the bond; that the item will come back to the Authority for final approval ; that the Inducement Resolution would only be applicable to the San Carlos Apartments; that the Palm Springs Village Apartments are a separate issue; that the San Carlos Apartments seller is willing to move ahead with the transaction; that the buyer will be better to deal with than the present owner; that the inducement resolution will allow the purchase price to be reimbursed from the bonds; that if the resolution is not adopted, it is possible that the buyer will not proceed; that a draft agreement is in process that specifies the improvements to be made; that the checks for renovation and construction will be issued in joint names; that the bond funds will go towards the purchase of the property; that the seller is in poor health, which may effect the property sale; that the financing will not proceed unless an agreement is in place; and that the statement of intent could be qualified to state that if certain conditions are not met, the bonding would not proceed. Authority member Hodges questioned whether proceeding by the Authority would allow the property to be sold; that before the inducement resolution is passed an agreement should be in place; that the agreement should state that regardless of who pays, the City should be reimbursed ' for any back and current rent control fees, and any claims filed against the San Carlos Apartments by the tenants should be corrected. oo2P, Housing Authority Minutes 11-20-91, Page 2 1. SAN CARLOS APARTMENTS (Cont'd) Vice-Chairman Broich stated that if an agreement is not in place, then the item should be continued; that the matters addressed by Authority member Hodges should be in the escrow documents; and 'that the City should have a claim with escrow to receive, its back rent control fee payments from the selling proceeds. It was moved by Hodges, seconded by Murawski and unanimously carried, Bono absent, that this matter be continued to Tuesday, November 26, 1991, at 3 p.m. ADJOURNMENT There being no further business, Vice-Chairman declared the meeting adjourned to Tuesday, November 26, 1991, at 3 p.m. , Large Conference Room, City Hall . JUDITH SUMICH Secretary ?c�JPATR im_ -�HICIA A. SANDERS Assistant Secretary MINUTES OF HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS NOVEMBER 26, 1991 An Adjourned Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Vice-Chairman Broich in the Council Chamber, 3200 Tahquitz Canyon Way, on Tuesday, November 26, 1991, at 3 p.m. ROLL CALL: Present: Authority Members Broich, Hodges, and Neel Absent: Member Murawski and Chairman Bono REPORT OF POSTING OF AGENDA: Report of City Clerk: Agenda posted in accordance with Council procedures on November 22, 1991. PUBLIC COMMENTS: a) Art Lyons, 646 Morongo Road, read a statement concerning the proposed project and the proposal for a bond issue for a run-down apartment complex for improvements to be turned over to the developer, and questioned whether a bank would finance it without an acceptable down payment, whether a cost analysis has been done, where additional funds will come from, why the city was considering the project at all , and what precedent will be set. ' b) Fred Ebling, 2460 Tuscan Road, stated his understanding that the units are not habitable, and that issue should be addressed before proceeding with anything new or aesthetically is done. LEGISLATIVE ACTION: 1. SAN CARLOS APARTMENTS On November 20, 1991, the Council continued consideration of resolution indicating intent to issue obligations to provide financing in connection with the acquisition and rehabilitation of a multifamily residential rental project and related facilities on the north side of Tahquitz Canyon Way, west of Civic Drive; pending development of agreement relating to payment to the City of back and current rent control charges, and any claims by tenants to be corrected; an explanation of how much of the funds will be used for building and other improvements. Housing Specialist reported that the inducement resolution is a statement of intent, and is a process which can be stopped at any time; that any bonds issued are not an obligation of the Housing Authority, nor the City of Palm Springs; that once the inducement is approved, the project ' developer is responsible for obtaining the guarantee for the full amount of the issue through an institution of his choice, which becomes the insurance for the bonds; and that the City is not obligated for repayment, nor is it in a position for repossession of the property. m24 Housing Authority Minutes 11-26-91 Page 2 1. SAN CARLOS APARTMENTS (Continued) City Manager stated that thee, buildings are in a state of disrepair, and there are code violations which the developer proposes to rectify, '' as well as making past-due payments, Rod Emery, project developer, stated that there are three payments each of $33,000 due '', on the first trust deed, and three payments each of $3,800 due on the second trust deed, which would be made current assuming that the Redlands Federal Bank would accept him , as the borrower; that the bank is waiting for the inducement resolution before proceeding with its processes; that the past due rent control fees will be paid, either by him or the seller; that he does not expect any , need for a hardship rent increase; that code violations will be corrected; that it is a two-step process, and he will seek a rehabilitation loan after the inducement is given; that current tenant rents do not support the debt service in place, and is about $47,000 in red on an annual basis; that the vacancy factor is at 17%, and his projected revenue/expense is based on an 8% vacancy factor, which he believes is achievable after the renovations. In answer to question by Authority Member, Mr. Emery stated that he only intended to proceed if the inducement resolu- tion is approved, at which point he would proceed with the purchase of the property, 'make the payments current, and then seek the rehabilitation loan through the City, , which would guaranteed by a note and deed of trust against the property - possibly a third trust deed, or perhaps it could be improved. Housing Specialist stated that an appraisal would be done before bringing any action for a loan; that the current debt would be retired through the bond issue, and the key component to make the project economically viable is the cash flow which will allow the maintenance of the site. Mr. Emery stated that the current landlord has not been cooperative in providing information to allow an extensive investigation of the property; ' that he has been in the construction business for fifteen years, and has cost out similar projects in worse ', condition, and been able to bring them up to a 90% occupancy at market rents; that some of the current rents are bellow rent control allowances, and others are in excess; that he feels the rehabilitation can be accomplished between $550,WO and $630,000. In answer to question by City Attorney, Mr. Emery stated that if the bond inducement is ',approved, recognizing that the loan is not contingent upon it, his alternatives for the loan are: the existing lender, the second trustee, ' and the seller; that he has asked the Redlands bank for concessions, however, it is not ',in a position to negotiate anything with him because he does not own the property; and that he was prepared to move forward, knowing that the City may not proceed with the loan. Vice Chairman stated that he felt the proposal should be denied; that the City should enforce against the code violations; and let the Bank take over the property if necessary, at which Mr. Emery could deal as a new owner. Housing Authority Minutes 11-26-91 Page 3 1. SAN CARLOS APARTMENTS (Continued) In answer to question by the Authority, Mr. Emery stated that the figures in his report were based on information from the seller; that he received information this date From the Rent Control Division, which suggests to him ' that the figures are within 5%; and that he could submit updated figures if that was desired. It was the consensus of the Authority, that this matter be continued for a full attendance of the Authority, and that by the following study session, Mr. Emery provide updated numbers. It was moved by Neel , seconded by Hodges, and unanimously carried, Murawski and Bono absent, that this matter be continued to December 4, 1991. ADJOURNMENT There being no further business, Vice-Chairman declared the meeting adjourned to December 4, 1991, at 7:30 p.m. JUDITH SUMICH Secretary 1 MINUTES OF HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS DECEMBER 4, 1991 A Regular Meeting of the Housing Authority of the City of Palm Springs was called to order by Chairman Bono in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, December 4, 1991, at 7:30 p.m. ROLL CALL: Present: Authority Members Broich, Hodges, Murawski , Neel , and Chairman Bono Absent: None PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. SAN CARLOS APARTMENTS On November 26, 1991, the Authority continued consideration of resolution indicating intent to issue obligations to provide financing in connection with the acquisition and rehabilitation of a multifamily residential rental project and related facilities on the north side of Tahquitz Canyon Way, west of Civic Drive; pending development of agreement relating to payment to the City of back and current rent control charges, and any claims by tenants to be corrected; an explanation of how much of the funds will be used for building and other improvements. ' City Manager reported that the matter was being withdrawn, and no action was recommended. It was moved by Broich, seconded by Murawski , and unanimously carried, that this matter be tabled. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary MINUTES OF HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS DECEMBER 18, 1991 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Bono in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, December 18, 1991, at 7:30 p.m. ROLL CALL: Present: Members Broich, Hodges, Murawski , Neel and Chairman Bono Absent: None APPROVAL OF MINUTES: It was moved by Neel , seconded by Broich, and unanimously carried, that the Minutes of November 20 and 21, 1991 be approved. PUBLIC COMMENTS: a) Van Suitt, 1600 Beverly Drive, stated that senior housing is needed downtown; that the Sunline buses could designate stops in 'the senior areas; that grants are available to finance the senior housing; that staff should investigate the area of grant funds; that staff is working hard, but should be directed more to senior needs; that Councilmembers should be full-time paid officials!; and that in his opinion, Council has the obligation to direct staff in the direction of senior needs: LEGISLATIVE ACTION: ' 1. AMENDMENT OF HOUSING AUTHORITY BYLAWS: Recommendation: That the Authority amend the bylaws for the Housing Authority regarding regularly scheduled meetings, to the first and third Wednesdays of the month at the hour of 7:30 p.m. except that when either of said meetings fall on a Holiday, that meeting shall be held the follwing day at the same time and place. Resolution 23 as recommended was presented, after which; it was moved by Murawski , seconded by Neel , and carried by the following vote. AYES: Murawski , Neel and Bono NOES: Broich and Hodges ABSENT: None ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH t Secretary By: PATRICIA SANDERS Assistant' Secretary MINUTES OF �diia�t) HOUSING AUTHORITY CITY OF PALM SPRINGS MAY 20, 1992 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Tuesday, May 20, 1992. ROLL CALL: Present: Agency Members Hodges, Lyons, Reller, Schlendorf and Chairman Maryanov Absent: None APPROVAL OF MINUTES: It was moved by Hodges, seconded by Schlendorf, and unanimously carried, that the Minutes of December 4 and 18, 1991, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PALOS VERDES VILLAS - BOND INDUCEMENT Recommendation: That the Authority adopt inducement for $7 million tax exempt bond financing for the construction of Palos Verdes Villas, located at 400 E. Stevens Road. Executive Director highlighted the memorandum of the Director of Economic Development. Resolution 24, as recommended, was presented; after which, ' it was moved by Hodges, seconded by Schlendorf, and unanimously carried, that R24 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary MINUTES OF, HOUSING AUTHORITY CITY OF PALM SPRING JUNE 17, 1992 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, June 17, 1992, at 7:30 p.m. ROLL CALL: Present: Authority Members Hodges, Lyons, Schlendorf, and Mayor Maryanov Absent: Member Reller PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. INDUCEMENT RESOLUTION FOR PURCHASE AND REHABILITATION FOR SAN CARLOS APARTMENTS Recommendation: That the Housing Authority Board of Directors induce tax exempt financing for the purchase and rehabilitation of the San Carlos Apartments for $5 million. Director of Economic Development stated that if the project proceeds, the inducement resolution allows the developer to recover costs incurred from the date of the inducement; that the project will be subject to subsidized housing requirements of the Coachella Valley Housing Coalition, with any rental rates adjusted to meet the income ' guidelines, which is to maintain affordable housing for low and moderate income persons. Resolution 25 as recommended,; was presented; after which, it was moved by Hodges, seconded by Schlendorf, and unanimously carried, Reller absent, that R25 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. C� C- JUDITH SUMICH Secretary 1 nn.=5'" MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS FEBRUARY 3, 1993 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, February 3, 1993, at 7:30 p.m. ROLL CALL: Present: Authority Members Hodges, Lyons, Reller-Spurgin, Schlendorf and Chairman Maryanov Absent: None APPROVAL OF MINUTES: It was moved by Schlendorf, seconded by Hodges, and unanimously carried, that the Minutes of May 20 and June 17, 1992, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. TAHQUITZ COURT APARTMENTS Recommendation: That the Authority declare intent to issue $4.5 million tax exempt obligations to provide financing in connection with the acquisition and rehabilitation of a multi-family residential rental project and related facilities ' known a the Tahquitz Court Apartments (formerly San Carlos Apartments) at 2890 E. Tahquitz Canyon Way; and rescinding Res. 25. Housing Specialist reported that the property is in great need of renovation, and skilled management; that the Coachella Valley Housing Coalition was unable to reach an agreement to purchase the property; that Corporate Fund for Housing (CFH) , establish by HUD grant in 1984, is concluding its acquisition of the property, which will make the project 100% affordable to families of very low and low income, allowing the project to be counted toward meeting the City's housing needs assessment quotas, and has requested an inducement not to exceed $4 . 5 million, which will be repaid from funds received from the project; that a letter of credit will be provided by Redlands Federal along with a trustee of the Housing Authority's choice; that the property will come off of the tax rolls for as long as it remains a project, at which point the Authority's subsidy would be repaid; that no one will be required to be relocated, and persons who do not satisfy the income levels, may remain - for which the owner will be paying a prorata share ' of the property tax on those units; that the property will be not be exempt from any other assessments which may be levied; that a future request will be made for approximately $590, 000 grant from the Authority; and that ultimately the mortgage revenue bond issue is anticipated to be $3 .5 million. fy W3 Housing Authority Minutes 2-3-93 , Page 2 1. TAHQUITZ COURT (Continued) In answer to question by Authority members, Hunter Johson, on behalf of the purchaser, stated that he did not think the Americans with Disabilities Act provisions applied to the project, because the nature of rehabilitation does not trigger the requirements; and that some units do have access. Agency member Schlendorf, stated that she would like the information verified, and would like to see ground floor units, in particular, made accessible. Resolution 26, as recommended, was presented; after which, it was moved by Schlendorf, seconded by Hodges, unanimously carried, that R26 be adopted. ADJOURN There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary 1 MINUTES OF ,3 HOUSING AUTHORITY CITY OF PALM SPRINGS AUGUST 4, 1993 A Regular Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, August 4, 1993, at 7:30 p.m. ROLL CALL: Present: Members Hodges, Lyons, Reller-Spurgin, Schlendorf, and Chairman Maryanov Absent: None APPROVAL OF MINUTES: It was moved by Hodges, seconded by Schlendorf, and unanimously carried, that the Minutes of February 3, 1993 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. SECTION 13 -PALACIO de ANZA APTS: Housing Specialist reviewed the staff report and added that in consideration of the issuance of bonds, the Foundation is proposing to setaside 20% of the units for for families of low/moderate income; that the remaining 80% of the units will be available at market rate; that approval of the Inducement Resolution will provide the Foundation of Social Resources with a mechanism to begin incurring the costs of preparing the necessary documents and analysis required for the issuance of the bonds; that the Inducement Resolution does not constitute a legally binding agreement or contract with the developer, nor a binding promise by the Authority, to issue the bonds; and that the proposed $4.6 million bond issue is for the purpose of acquiring the property, bond issuance costs, consultant fees; rehabilitation costs of $280,000, indemnity costs, reserve fund and ' investment profit. Member Hodges questioned if the project would he subject to rent control. Bill Hearsh, Foundation for Social Resources, stated that that the apartments for low income would be subject to rent control. i Member Hodges requested staff to inform the Rent Control Division of the pending proposal. Mayor stated that this is a good project; that the area will be enchanced by the renewal of the apartments; that the Housing Funds are being spent wisely; that the funds cannot be spent for other issues in the City; but are designated for Housing issues. Resolution 27 providing inducement of$4.6 million for purchase and rehabilitation of the Palacio de Anza Apartments, at 2468 E. Tahquitz Canyon Way, Foundation for Social Resources Foundation, was presented, after which; it was moved by Schlendorf, seconded by Lyons, and unamiusly carried that R27 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary By: PATRICIA A. SANDERS Acting Secretary MINUTES OF HOUSING AUTHORITY September 29j 1993 An Adjourned Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Large Conference Room, 3200 Talrquitz Canyon Way, Palm Springs, California, at 7:30 p.m. ROLL CALL: Present: Members Hodges, Lyons, Reller-Spurgin, Schlendorf and Chairman Maryanov Absent: None The meeting was opened with a Salute to the Flag and a moment of silence. REPORT POSTING OF AGENDA: Assistant City Clerk reported the agenda posted within Authority's procedures on September 24, 1993. APPROVAL OF MINUTES: It was moved by Schlendorf, seconded by Lyons and unanimously carried, that the Minutes of August 4, 1993 be approved. PUBLIC COMMENTS: None 1. TAHQUITZ COURT APARTMENTS Recommendation: That the Agency approve the issuance, sales and delivery of$3,380,000.,in lax exempt bonds for the acquisition and rehabilitation of Tahquitz Court Apartments. Housing Coordinator reviewed the staff report and added that the terms and conditions of the bonds are not a general obligation of the Housing Authority; and that 100% of the units will be affordable. ' Councilmember Hodges questioned if this included'',Park Towers. Housing Coordinator stated only Tahquitz Towers. City Attorney stated that the financing portion has been on the fast track for this project. Councilmember Schlendorf stated that the project will be a benefit to the City by providing remodeling jobs and affordable housing Resolution 28 was presented, after which; it was moved by Hodges, seconded by Schlendorf and unanimously carried, that R28 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH _--Secretary r By: Patricia A. Sanders Acting Secretary MINUTES OF HOUSING AUTHORITY CITY OF PAM SPRINGS MARCH 2, 1994 A Regular Meeting of the Housing Authority of the City of Palm Springs, was called to order by Chairman Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, March 2, 1994,at 7:30 p.m. ROLL CALL: Present: Authority Members Hodges,Lyons,Reller-Spurgin,Schlendorf and Chairman Maryanov I Absent: None REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in accordance with Council procedures on February 25, 1994. APPROVAL OF MINUTES: It was moved by Schlendorf, seconded by Hodges, and unanimously carried, that the minutes of August 4, 1993 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. SANDSTONE VILLAS -REGULATORY AGREEMENT & CC&Rs Resolution 29 approving a regulatory agreement and covenants, conditions and restrictions concerning restricted units for low/mod income housing in Sandstone Villas,TM27674,A3345 (Housing Authority and City are parties to documents, City approval February 16, 1994), was presented; after which, it was moved by Schlendorf, seconded by Hodges, Maryanov abstaining, and unanimously carried, that R29 be adopted. ' ADJOURNMENT i There being no further business, Mayor declared the meeting adjourned. L C 7\ JUDITH SUMICH Secretary i i MINUTES,OF HOUSING AUTHORITY September 29', 1993 Adjourned Meeting of the Housing Authority of the City of Palm Springs, California, was called to order by Chairman Maryanov, in the Large Conference Room, 3200 Tahquitz Canyon Way, Palm Springs, California, at 7:30"p.m. ROLL CALL: Present: Members Hodges, Lyons, Reller-Spurgin, Schlendorf and Chairman Maryanov .,l Absent: None The meeting was opened with a Salute to the Flag and a moment of silence. REPORT POSTING'OF\AGENDA: Assistant City Clerk reported the agenda posted within Authority's procedures on September 24, 1993. APPROVAL OF MINUTES It was moved by Schlendorf, seconded by Lyons and unanimously carried, that the Minutes of August 4, 1993 be approved. PUBLIC COMMENTS: None 1. TAHQUITZ COURT APARTMENTS Recommendation: That the Agency approve the issuance, sales and delivery of$3,380,000.,in tax exempt bonds for the acquisition and rehabilitation`'of Tahquitz Court Apartments. Housing Coordinator reviewed the staff reporh.and,added that the terms and conditions of the bonds are not a general obligation of the Housing Authority; and that 100% of the units will be affordable. I Councilmember Hodges questioned if this included'Park Towers. Housing Coordinator stated only Tabquitz Towers. City Attorney stated that the financing portion has been on;the fast track for this project. Councilmember Schlendorf stated that the project will be a benefit to the City by providing remodeling jobs and affordable housing Resolution 28 was presented, after which; it was moved by Hodges, seconded by Schlendorf and unanimously carried, that R28 be adopted. 'a ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary By: Patricia A. Sanders ' Acting Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS MAY 4, 1994 A Regular Meeting of the City Council of the City of Palm Springs, was called to order by Mayor Maryanov, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday,May 4, 1994, at 6:30 p.m. ROLL CALL: Present: Authority Members Hodges,Lyons,Reller-Spurgin,Schlendorf and Mayor Maryanov Absent: None REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in accordance with Council procedures on April 29, 1994. APPROVAL OF MINUTES: It was moved by Schlendorf, seconded by Hodges, and unanimously carried, that the Minutes of March 2, 1994, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. BLW CONSTRUCTION - SANDSTONE VILLAS Recommendation: That the Agency approve the First Amendment to Regulatory Agreement and Declarations of Covenants and Restrictions for Sandstone Villas (See A3345). Mayor stated he would abstain due to real property interests. ' Housing Coordinator reported that the developer requested authorization to redesignate the location of 5 of the 31 restricted units within the project; and that the new locations conform to the regulatory agreement, and are scattered throughout the complex. She stated that the change is due to a miscommunication between the developer and its sales office in properly identifying the restricted units. Resolution 30 as recotmnended, was presented; after which, it was moved by Hodges, seconded by Schlendorf, and unanimously carried, Maryanov abstaining, that R30 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. �IUDITH SUMICH Secretary MINUTES OF HOUSING AUTHORITY \ CITY OF PALM SPRINGS NOVEMBER 2,', 1994 A Regular Meeting of the City Council of the City of Palm Springs, was called to order by Mayor Mar �nov, in the Council Chamber, 3200 Talrquitz Canyon Way, on Wednesday, November 2, 1994, at 7:00\p.m. ROLL CALL: Present: Authority Members Hodges, Kleindienst, Lyons, Reller-Spurgin, and Chairman Maryanov \ Absent: None S, REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in accordance with Council procedures on October 28, 1994. APPROVAL OF MINUTES: It was moved by Lyons, seconded by Hodges, and unanimously carried, Kleindienst abstaining, that the Minutes of May 4, 1994,be approved. +u PUBLIC COMMENTS: None s LEGISLATIVE ACTION: �4 1. RESCISSION OF PRIOR ACTIONS,. Recommendation: That the Authority rescind fourteen resolutions adopted by the Authority, declaring "intent" to issue bonds in support of,various proposed projects from 1985 to 1993. Res 31, as recommended, was presented; after which, it was moved by Lyons, seconded by Kleindienst, and unanimously carried, that R31 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. -/JUDITH SUMICH Secretary 'i c t,. MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS NOVEMBER 2, 1994 A Regular Meeting of the City Council of the City of Palm Springs, was called to order by Mayor Maryanov, in the Council Chamber, 3200 Talnquitz Canyon Way, on Wednesday, November 2, 1994, at 7:00 p.m. ROLL CALL: Present Authority Members Hodges, Meindienst, Lyons, Reller-Spurgin, and Chairman Maryanov Absent: None REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in accordance with Council procedures on October 28, 1994. APPROVAL OF MINUTES: It was moved by Lyons, seconded by Hodges, and unanimously carried, Meindienst abstaining, that the Minutes of May 4, 1994, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. RESCISSION OF PRIOR ACTIONS Recolmnendation: That the Authority rescind fourteen resolutions adopted by the Authority, declaring "intent" to issue bonds in support of various proposed projects from 1985 to 1993. Res 31, as recommended, was presented; after which, it was moved by Lyons, seconded by 152- ' Kleindienst, and unanimously carried, that R31 be adopted. 001) ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. /JUDITII SUMICH Secretary MINUTES OF HOUSING AUTHORITY CITY OF PALM SPRINGS DECEMBER 6, 1995 A Regular Meeting of the Housing Authority, of the City of Palm Springs, California, was called to order by Chairman Kleindienst, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, December 6, 1995, at 6:00 p.m., at which time, the City Attorney announced items to be discussed in Closed Session, and at 7:00 p.m., the meeting was convened in open session. ROLL CALL: Present: Authority Members Barnes, Hodges, Spurgin and Chairman Kleindienst Absent: None REPORT POSTING OF AGENDA: The agenda was posted in accordance with Council procedures on December 1, 1995. REPORT OF CITY ATTORNEY ON MATTERS DISCUSSED IN CLOSED SESSION (All Entities)- See items on Page 5 of agenda this date. APPROVAL OF MINUTES: It was moved by Spurgin, seconded by Hodges, and unanimously carried, Barnes abstaining, that the Minutes of November 2, 1994 be approved. PUBLIC HEARINGS: 1. TEFRA HEARING - P.S. VIEW APARTMENTS: Recommendation: That the Authority approve'!the necessary bond documents to initiate a not-to-exceed $3.2 million Multi-family Housing Revenue Refunding Bonds, Series 1995A (GNMA collateralized - Palm Springs View Apartments Project). Director of Finance and Treasurer requested the Authority hold public hearing and at (152- ' conclusion consider refinance of bonds; and added that no City funds would be at risk. 007 Chairman declared the hearing open. Jim Jones, stated that the P.S. View Apartments were part of three government funded apartment buildings located around his property;,that this property and the property located on Stevens Road, in his opinion is not needed; that due to the condition of the apartments a loss of property tax has occurred; that the rents at the government financed apartments are lower than his rents; that his apartments are larger and have an extra bathroom; that the P.S. View Apartments has had a cash flow problem since it opened; that private businesses cannot operate in the same manner; and that this should not be supported by the Authority. There being no further appearances, the hearing was closed. In answer to questions by the Council Assistant! City Attorney Marticorena stated that the apartments are not a public housing project; that; there were no public Funds involved; that the federal government provides for low income housing; that this issue is a private loan guaranteed by the Federal Government; that the'apartment owners are in default regarding the loan; that under Federal law, bonds can be issued to facilitate low and moderate housing construction; that there is no economic consideration at stake for the City; that the request is to allow the bonds to be refinanced at a lower interest rate; that negotiations have been worked out between the Federal Government and the apartment owners; that an approval letter was forwarded by HUD to the City recommending the issuance; that if the City does not approve the issuance, the negotiated agreement between the developer and HUD cannot go forward; that it is not certain if the property will go into default, but that there is no reason for the City not to approve the recommendation; and that approval will keep the developer from possible default. Agency Minutes 12-6-95, Page 2 1. TREFRA HEARING (Cont'd) Member Barnes questioned if the operating costs will be reduced. In answer to question by Council, Raye Richie, P.S. View Apartments, stated that the project has experienced low occupancy and negative cash flow for several years; that the operating costs have been at minimal operating levels; that the interest rate will drop 11/2%; and he requested Authority approval. Authority Member Spurgin stated that if the property goes in default, all surrounding properties will be affected; and that foreclosure should be avoided. Resolution 32 authorizing issuance, sale & delivery of not to exceed $3.2 million Housing Authority multifamily housing revenue refunding bonds, Series 1995 A (GNMA Collateralized, P.S. View Apartments,) a 199-unit development at 500 W. San Rafael Road, containing a low and moderate income housing element was presented; after which, it was moved by Hodges, seconded by Kleindienst, and unanimously carried that R32 be adopted. PUBLIC COMMENTS: a) Additional Comments after the above Item, related thereto: Ric Service, 222 South Palm Canyon, stated that in 1976 he participated in sponsoring a ballot measure to request voter approval to give authorization for the City to fund low income housing, specifically for seniors and disabled; that the measure passed with a limited budget, (152- and was supported by 82% of the voters; and that it is questionable if this issue is in the 007) spirit of what the voters approved. Jim Jones, stated that there is an alternative for the building, and that is for it to be sold; that selling it would be better than foreclosure; that the building is saleable; and that apartments recently put up for sale have sold in two weeks. LEGISLATIVE ACTION: None ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Secretary By: PATRICIA A. SANDERS Assistant Secretary MINUTES OF CITY OF PALM SPRINGS OF THE ' HOUSING AUTHORITY AND COMMUNITY REDEVELOPMENT AGENCY July 23, 2003 A Special Meeting of the Housing Authority and the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Kleindienst, in the Council Chamber, 3200 Tahquitz Canyon Way, on Wednesday, July 23, 2003, at 5:30 p.m., at which time, the City Attorney announced items to be discussed in Closed Session, and at 7:00 p.m., the meeting was convened in open session. ROLL CALL: Present: Agency/Authority Members Hodges, Mills, Oden, Reller- Spurgin, and Chairman Kleindienst Absent: None REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in accordance with Agency procedures on July 18, 2003. PUBLIC COMMENTS: None HOUSING AUTHORITY/COMMUNITY REDEVELOPMENT AGENCY JOINT MEETING LEGISLATIVE ITEMS ' 1. TAHQUITZ COURT APARTMENTS Recommendation: That the Authority/Agency approve the subordination of bonds relating to the Tahquitz Court Apartments. A4740, A466C_ Director of Finance & Treasurer stated that the recommendation was of a housekeeping nature. Housing Authority Resolution 33 as recommended was presented; after which, it was moved by Oden, seconded by Hodges and carried by the following vote that HA R 33 be adopted. AYES: Members Hodges, Oden, Mills and Chairman Kleindienst NO: Member Reller-Spurgin Resolution 1222 as recommended was presented; after which, it was moved by Oden, seconded by Hodges and carried by the following vote that CRA R1222 be adopted. AYES: Members Hodges, Oden, Mills and Chairman Kleindienst NO: Member Reller-Spurgin ADJOURNMENT: There being no further business, air declared�th meeting adjourned. PATRICIA A. SANDERS Secretary HOUSING AUTHORITY CITY OF PALM SPRINGS, CALIFORNIA a MINUTES WEDNESDAY, NOVEMBER 19, 2008 City Hall Council Chamber CALL TO ORDER: Chair Pougnet called the meeting to order at 6:56 p.m. ROLL CALL: PRESENT: Agency Member Hutcheson, Agency Member Weigel, Vice Chair Foat, and Chair Pougnet. ABSENT: Agency Member Mills. ALSO PRESENT: Executive Director Ready, Agency Attorney Holland, and Secretary Thompson. PUBLIC COMMENT: ROGER EVERSHED, commented on the Tahquitz Court Apartments, Item RA2., and recommended approval of the modifications and assignment of the regulatory agreement. JOINT MEETING WITH THE CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY: RA2. MODIFICATION OF REGULATORY AGREEMENT, ASSIGNMENT AND ASSUMPTION OF LOAN DOCUMENTS, FREDDIE MAC RIDER TO THE REGULATORY AGREEMENT AND A SUBORDINATION AGREEMENT BY AND BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS AND CORPORATE FUND FOR HOUSING, D.B.A., LINC HOUSING CORPORATION, TO ASSIGN THE AGREEMENT TO TAHQUITZ ASSOCIATES, LP, AND BY THE HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS AND CORPORATE FUND FOR HOUSING, D.B.A., LINC HOUSING CORPORATION, TO ALLOW FOR THE TRANSFER OF THE PROPERTY TO A PARTNERSHIP THAT IS NOT A 501C(3) ORGANIZATION FOR THE TAHQUITZ COURT APARTMENTS AT 2800, 2890, 2900 and 2990 EAST TAHQUITZ CANYON WAY: ACTION: 1) [Community Redevelopment Agency] Adopt Resolution No. 1369, "A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, APPROVING A MODIFICATION OF THE REGULATORY AGREEMENT, ASSIGNMENT AND ASSUMPTION OF LOAN DOCUMENTS, FREDDIE MAC RIDER TO THE REGULATORY AGREEMENT AND A City of Palm Springs Housing Authority November 19, 2008 Page 2 SUBORDINATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS AND CORPORATE FUND FOR HOUSING, D.B.A., LINC HOUSING CORPORATION, TO ASSIGN THE AGREEMENT TO TAHQUITZ ASSOCIATES, LP, FOR THE TAHQUITZ COURT APARTMENTS AT 2800, 2890, 2900, and 2990 EAST TAHQUITZ CANYON WAY;" 2) [Housing Authority] Adopt Resolution No. 34, "A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS, CALIFORNIA, APPROVING AN AMENDMENT TO A REGULATORY AGREEMENT AND DECLARATION OF COVENANTS AND RESTRICTIONS BETWEEN THE HOUSING AUTHORITY OF THE CITY OF PALM SPRINGS AND CORPORATE FUND FOR HOUSING, D.B.A., LINC HOUSING CORPORATION, TO ALLOW FOR THE TRANSFER OF THE PROPERTY TO A PARTNERSHIP THAT IS NOT A 501C(3) ORGANIZATION FOR THE TAHQUITZ COURT APARTMENTS LOCATED AT 2800, 2890, 2900 AND 2990 EAST TAHQUITZ CANYON WAY;" and 3) Authorize the Executive Director to execute all necessary documents. A0501 C. Motion Board Member Weigel, seconded by Board Member Hutcheson and unanimously carried 4-0 on a roll call vote. AYES: Board Member Hutcheson, Board Member Weigel, Vice Chair Foat, and Chair Pougnet. NOES: None. ABSENT: Board Member Mills. ADJOURNMENT: The Community Redevelopment Agency adjourned at 6:57 p.m. RD APPROVED BY A MOTION OF THE PALM SPRINGS CITY COUNCIL THIS 3 DAY OF DECEMBER, 2008. STEPH N P. POUGNET, CHAIR ATTEST: J MES THOMPSON, CITY CLERK