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HomeMy WebLinkAbout1/1/1987 - CRA MINUTES MINUTES OF 000 COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JANUARY 7, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, January 7, 1987, at 7: 30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert Absent: None REPORT OF POSTING OF AGENDA: See City Council Minutes of this date. APPROVAL OF MINUTES: It was moved by Foster, seconded by Smith, and unanimously carried, that the Minutes of December 11, 1986 be approved. PUBLIC COMMENTS: : None LEGISLATIVE ACTION: 1. AUTO CENTER AGREEMENT: Recommendation: That the Agency approve an agreement with Luther Company Limited Partnership assuming duties and obligations of Peter Epsteen, Ltd. including acquisition of Parcel #2. ' Redevelopment Director reviewed his report of January 7, 1987, and stated that Epsteen retained the Rolls Royce and Jaguar dealerships on Parcel 1, and Luther has agreed to guarantee a minimum sales tax revenue to the Agency through the City to amortize the subsidy in place on that parcel over a five-year period, as well as on Parcel 2, which may be rescinded under certain conditions. He also stated that the assignment would waive the late performance of Epsteen, and allow Luther 90 days in which to submit concept drawings; allow Parcel 1 without the two above dealerships; and provide for the purchase of Parcel 2. Member Foster stated that he owns property in the area, and would abstain on the appearance of conflict. Resolution 454, approving the assignment as recommended, was presented; after which, it was moved by Smith, seconded by Apfelbaum, and unanimously carried, that Resolution 454 be adopted. 2. BUDGET AMENDMENT PA4 - RAMON-BOGIE Recommendation: That the Agency appropriate $27,500 to fund down payment on sliver-shaped parcel on Gene Autry ' Trail adjacent to the Auto Center site (Dunham property) . Redevelopment Director highlighted his report, and stated that staff was previously authorized to negotiate for the parcel ; that tax increment income for the Redevelopment Project Area will exceed budget projections by $35,000; and $27,500 is needed to complete the purchase - $25,000 as a downpayment, and $2,500 for Agency share of closing costs. 0002 CRA Minutes 1-7-87, Page 2 2. BUDGET (Continued) Resolution 455, amending the budget to appropriate $27 ,500, as recommended, was presented; after which, it was moved by Birer, seconded by Apfelbaum, and unanimously carried, Foster abstaining, that Resolution 455 be adopted. ADJOURNMENT There being no further, business, Chairman declared the meeting adjourned. 4 JUDI HSUICH Assistant Secretary 1 MINUTES OF �i�;� COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS FEBRUARY 4, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, February 4, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Foster, and unanimously carried, that the Minutes of January 7, 1987 be approved. PUBLIC COMMENTS - None LEGISLATIVE ACTION: 1. PA4B11 - LAND ACQUISITION Recommendation: That the Agency authorize purchase of 1.66 acre sliver-shaped parcel on Gene Autry Trail adjacent to the Auto Center from Equitec, in amount of $151,850. Redevelopment Director highlighted his report and stated that the parcel will provide for eventual development of the Auto Center with frontage on Gene Autry Trail . ' Member Foster stated that he would abstain due to an appearance of conflict. Resolution 456, authorizing purchase as recommended, was presented; after which, it was moved by Smith, seconded by Apfelbaum, and unanimously carried, Foster abstaining, that Resolution 456 be adopted. 2. PA1B4-6 Recommendation: That the Agency approve Reciprocal Easement and Operating Agreement between the partnerships and the hotel tenant, similar to agreements approved for I. Magnin and Saks Fifth Avenue, as required by the Participation Agreement for the Desert Fashion Plaza. Redevelopment Director highlighted his report, and stated that the approval is consistent with the Particiaption Agreement. Resolution 457 approving action as recommended, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 457 be adopted. REPORTS: ' Disclosure Statement Eli Birer - Filed with City Clerk, re PA2 (Tahquitz Andreas) . ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. UDITH SUMICN Assistant Secretary MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS FEBRUARY 18, 1987 A Regular Meeting of the Community) Redevelopment Agency of the City of Palm Springs, was called to, order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, February 18, 1987, at 7:30 p.m. ROLL CALL: Present: Members Apfelbaum., Birer, Foster, Smith and Chairman Bogert Absent: None PUBLIC COMMENT: None LEGISLATIVE ACTION: 1. PA1B5 - NORTH CANYON PLAZA Recommendation: That the Agency approve an owner participation agreement regarding certain improvements at 174 N. Palm Canyon Drive. Redevelopment Director reported that the new owners of the former Tackett Center are upgrading the property, including repainting, and new signs, as well as adding a retail space on the Palm Canyon frontage; that the addition requires three parking spaces, and the purpose of the agreement is to allow deferral for one year to provide those spaces, and complete the landscaping; that there are three alternatives available, and a bond will also be provided. ' Resolution 458 approving the agreement as recommended, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously , carried, that Resolution 458 be adopted - Agr 164. 2. PA4 - ASSESSMENT DISTRICT Recommendation: That the Agency establish a policy for the use of tax increment funds to assist in the cost of an assessment district to develop street improvements in the existing industrial area southwest of Ramon Road and Gene Autry Trail . Redevelopment Director reported that the Agency indicated an interest in assisting in the upgrade of street improvements in the older ' industrial area west of Gene Autry Trail ; that the assistance would assume 75% of the cost for new pavement and base, and be conditionally limited to $35,000 per year; and the property owners would form an assessment district and pay the cost of curb, gutters and sidewalks. Member Foster stated that he owns property in the area and would abstain. CRA Minutes n'O 2-18-87 Page 2 2. PA4 (Continued) Member Birer stated that this is a good use of redevelopment funds, and in recent study session, the staff was requested to provide further study as to where and how much ' redevelopment funds can be used elsewhere in the City. Redevelopment Director noted that this matter will be dealt with under a separate agenda in the near future. Resolution 459 establishing policy as recommended, was presented; after which, it was moved by Birer, seconded by Apfelbaum, and unanimously carried, Foster abstaining, that Resolution 459 be adopted. 3. DEVELOPER ASSISTANCE POLICY Recommendation: That the Agency establish policy guidelines for providing developer assistance. Redevelopment Director reported that the Agency in study session discussed the policy guidelines, and the proposed action formalizes that discussion, policy details on file with the City Clerk. Resolution 460 approving the policy guidelines as recommended, was presented; after which, it was moved by Foster, seconded by Apfelbaum, and unanimously carried, that Resolution 460 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned to Tuesday, February 24, 1987, at 3 p.m. , in the Large Conference Room, City Hall . '-- JUDITH SUMICH Assistant Secretary 1 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS MARCH 4, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, March 4, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, ' Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Apfelbaum, and unanimously carried, that the Minutes of February 4 and 18, 1987 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA1 - FINANCING Recommendation: That the Agency approve documentation to refinance the Agency's 1984 Tax Allocation Bond Issue of $9.3 million, for the Central Business District Redevelopment Project Area. City Director of Finance reported receipt of conditional approval from MBIA, and he was confident that the insurance ' would be forthcoming; that a triple B rating was received from Standard g, Poors, and between market changes and changes of MBIA, the projected savings is $70,000 to $90,000 annually, or $1.4 million over the life of the issue. He recommended approval of agreement with Jones, Hall , Hill E White to provided legal services; agreement with Stone & Youngberg to provide bond underwriting services; and authorizing issuance of tax allocation refunding bonds not to exceed $10.4 million, Indenture of Trust and Escrow agreements with 'First Interstate Bank, approval of the Official Statement, Sale of the Bonds, and other actions required to complete the transaction. He stated the interest rate at time of sale would not exceed those set forth in the exhibit to the resolution authorizing the sale. Resolutions 461, 462 and 463, approving actions as recommended (Agreements 165, 166, 167 , and 168, respectively, were presented; after which, it was moved by Birer, seconded by Foster, and unanimously carried, that Resolutions 461 through 463 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDIl-H SUM]CH Assistant Secretary COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS APRIL 1, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Vice-Chairman Birer, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, April 1, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, and Smith Absent: Chairman Bogert APPROVAL OF MINUTES: It was moved by Smith, seconded by Foster, and unanimously carried, Bogert absent, that the Minutes of March 4, 1987, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA6 - LAND ACQUISITION Recommendation: That the Agency authorize purchase of property at 1447 North Palm Canyon, from Sehkri , for $575,000; amend the budget to transfer funds to cover down payment; approve lease of said property to Ted Holmquist, on an annual basis, at $35,000 per year. Redevelopment Director reported that following the study ' session, Mr. Holmquist stated that he could not afford to increase the rent to $42,000, and he had already agreed to increase it from $30,000 to $35,000, and the deal was dropped; that the PAC also had this item on its agenda for this date, and wanted to convey to the Agency its concern about the project, in particular, an 8% return on the investment would produce an annual payment of $46,000, however, Mr. Holmquist will be spending about $50,000 in repairs and improvements to make the project rentable, and an annual deduction over the 5-year term, of $12,500 would make an annual rental of slightly less than $35,000; that there is an advantage to the Agency to keeping the property off the market and under the control of the Agency, which can be coupled with adjoining properties in a few years to create a major development site; otherwise, there is every chance that the value will inflate, and make it substantially difficult to acquire. In answer to question by the Agency, Redevelopment Director stated that $135,000 set aside for the Patel Hotel will be transferred to cover the down payment, and the remainder will be carried through a loan from Bank of America at 6% interest. Resolutions 464, 465 and 466, as recommended, were presented; after which, it was moved by Foster, seconded by Apfelbaum, ' and unanimously carried, Bogert absent, that Resolutions 464 through 466 be adopted. CRA Minutes 4-1-87 Page 2 2. PA1 Recommendation: That the Agency find it necessary to deposit less than amount required by statute into the housing fund for the CBD Project Area. Report reviewed by Redevelopment Director. Resolution 467, as recomrrended, was presented; after which, ' it was moved by Birer, seconded by Smith, and unanimously carried, Bogert absent, that Resolution 467 be adopted. ADJOURNMENT There being no further business, Vice-Chairman declared the meeting adjourned to Tuesday, April 7, 1987 at 3 p.m. , in the Large Conference Room, City Hall . JUDITH SUMICH City Clerk 1 i . MINUTES OF CITY COUNCIL AND COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS APRIL 7, 1987 An Adjourned Regular Meeting of the City Council and of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Mayor/Chairman Bogert, in the Large Conference Room, 3200 Tahquitz-McCallum Way, on Tuesday, April 7, 1987, at 3: 10 p.m. ROLL CALL: Present: Council/Agency Members Apfelbaum, Birer, Foster, Smith and Mayor/Chairman Bogert Absent: None REPORT OF POSTING OF AGENDA: Report of Assistant City Clerk: Agenda posted on April 3, 1987, pursuant to established Council policy. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. CONVENTION CENTER REFINANCING (CRA & COUNCIL) Recommendation: That the Council/Agency adopt appropriate actions to approve the 1987 refunding of Certificates of Participation for the Convention Center project in an aggregate principal amount not to exceed $41,100,000. ' Economic Development and Housing Directbr stated that refinancing at this time would take advantage of the reduced interest rates; and, that the proposed resolution would authorize the Mayor/Chairman and the City Manager to execute the necessary documents. Upon questioning by Council/Agency, he stated that the interest rate is expected to be 2% (per cent) less than the present bond issue; that refinancing would result in an annual savings of $115,000 to $120,000; and, that penalty figures are included. Resolution 16173 approving appropriate actions for the 1987 Refunding of Certificates of Participation for the Convention Center project, and authorizing the Mayor/Chairman and the City Manager to execute the necessary documents, was presented; after which, it was moved by Birer, seconded by Foster, and unanimously carried, that Resolution 16173 be adopted. CRA Resolution 468 approving the above action of the Council was presented; after which, it was moved by Foster, seconded by Birer, and unanimously carried, that Resolution 468 be adopted. ' ADJOURNMENT There being no further business, at 3:25 p.m. Mayor/Chairman declared the meeting temporarily adjourned for Study Session purposes, after which the meetinggww _-djourned. PATRICIA JONES Assistant City lerk Acting Assistant Secretary MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS APRIL 15, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, , on Wednesday, April 15, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Birer, Foster, Smith and Chairman Bogert Absent: Agency Member Apfelbaum APPROVAL OF MINUTES: It was moved by Smith, seconded by Foster, and unanimously carried, that the Minutes of April 1, 1987, be approved. LEGISLATIVE ACTION: 1. PA2 - CONVENTION CENTER FINANCING Recommendation: That the Agency approve a reimbursement and repayment agreement between the Agency and the City, to implement a portion of the Convention Center Financing Program - Agr 168. Redevelopment Director reported that the proposed action was expected during the original projections for the project; that the site will fund up to $250,000, and up to an additional $600,000 from the Project Area as a whole; and will provide for repayment of the debt, operate the facility, and maintain an appropriate reserve. ' Resolution 469, as recommended, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, Apfelbaum absent, that Resolution 468 be adopted. 2. PA2 - ANDREAS WALKWAY Recommendation: That the Agency approve increase in contract with TKD Associates for design of the Andreas Road Walkway, from $7,500 to $15,000, Agr #161. Redevelopment Director reported that additional work is necessary in the area between Calle Alvarado and E1 Segundo. Res 470 approving increase in contract amount, as recommended, was presented; after which, it was moved by Foster, seconded by Birer, and unanimously carried, that Resolution 470 be adopted. CRA Minutes 4-15-87 Page 2 3. PA6 - FINANCING Recommendation: That the Agency authorize reimbursement to Horwitch Galleries, 1090 No. Palm Canyon, for installation of special sidewalks adjacent to said property. Redevelopment Director reported that the reimbursement of $10,208 covers only the specially designed sidewalk in the public ' right-of-way, and not the private property portion. Res 471 approving the reimbursement, as recommended, was presented; after which, it was moved by Birer, seconded by Smith, and unanimously carried, that Resolution 471 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned to Tuesday, April 21, 1987 at 2 p.m. , in the Large Conference Room, City Hall . � --JUDITH SUMICH Assistant Secretary ;R MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS APRIL 21, 1987 An Adjourned Regular Meeting of the '! Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Large Conference Room, City Hall , at 2 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert ' Absent: None The purpose of the meeting did not come to fruition, and the matter will be rescheduled. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned to Tuesday, April 28, 1987, at 3 p.m. , in the Large Conference Room, City Hall . _-J UDITH SUMICH Assistant Secretary MINUTES OF COMMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS APRIL 28, 1987 An Adjourned Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Large Conference Room, City Hall , at 3:20 p.m. ROLL CALL: The Roll was called in conjunction with the City Council meeting of this date. Present: Agency Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert Absent: None The purpose of the meeting as stated on the posted Agenda did not come to fruition, and the matter will be rescheduled. ADJOURNMENT There being no further business, the Chairman declared the meeting adjourned. JUDITH SUMICH City Clerk BY � w PATRICIA JONES�� Assistant City L�lerk ^p:a.. MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS MAY 12, 1987 An Adjourned Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Large Conference Room, Cityj Hall , 3200 Tahquitz-McCallum Way, on Tuesday, May 12, 1987. ROLL CALL: Present: Members Birer, Foster, Smith and Mayor Bogert Absent: Member Apfelbaum REPORT OF POSTING AGENDA: City Clerk reported that the agenda was posted on May 8, 1987 pursuant to policy. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA2 - FINANCING: Pledging that tax increment proceeds will be set aside to fund up to three months in interest on Convention Center bond payments in event the facility is not completed by February 1, 1988 (action needed to complete refinancing of Certificates of Participation). Matter not ready for action, to be rescheduled at next meeting. 2. CONVENTION CENTER: Concur in City Council actions this date, relative to amendment to construction contract with McDevitt & Street, six change orders to said agreement:, and amendment to agreement with Huntcor, to provide increased services as owner representative. It was moved by Birer, seconded by Smith, and unanimously carried, Apfelbaum absent, that the Agency concur in City action this date, to amend Huntcor agreement, for an increase of $15,000. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH 'SUMICH Assistant Secretary 015 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS MAY 20, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, May 20, 1987 at 7:30 p.m. ' ROLL CALL: Present: Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None REPORT OF POSTING OF AGENDA: Refer to City Council Minutes APPROVAL OF MINUTES: It was moved by Foster, seconded by Birer, and unanimously carried, that the Minutes of April 7, 15 and 21, 1987 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA2 - FINANCING: Recommendation: That the Agency Pledge that tax increment proceeds will be set aside to fund up to three months of interest on Convention Center bond payments in event the facility is not completed by February 1, 1988 (action ' needed to complete refinancing of Certificates of Participation). Matter to be rescheduled. 2. PA2 - CONVENTION CENTER: Recommendation: That the Agency concur in City Council actions this date, relative to amendment to construction contract with McDevitt & Street, and six change orders to said agreement. Economic Development & Housing Director reported that this matter was reviewed in the last two study sessions, in detail , and that the amended agreement totals $14,290,000, and the Change Orders total an increase of $184,963. It was moved by Smith, seconded by Birer, and unanimously carried, that the Agency concur in Council actions to approve amended contract and Change Orders 1 through 6. 3. PA2 - FINANCING ' Recommendation: That the Agency repay $2,880,100 in General Fund loans, and consolidate remaining Tahquitz Andreas Project Area loans into a single loan of $515,000. Redevelopment Director reported that approximately $2,880,100 has been received as reimbursement of the Convention Center expenses ; that the remaining Convention Center loan balance of $150,000, and three other outstanding loan balances totalling $365,000 are proposed to be consolidated in to a single loan, to simplify accounting CRA Minutes 5-20-87 Page 2 3. PA2 (Continued) procedures, at an annual i�nterest rate of 7%; and that the Agency's commitment of $850,000 annually to the Convention Center debt service is sufficient indebtedness to justify receiving the estimated $1.3 million in tax increment funds in fiscal year 1987-88. Resolutions 472, 473 andi 474, as recommended, were ' presented; after which, it was moved by Smith, seconded by Birer, and unanimously ,carried, that. Resolutions 472 through 474 be adopted. 4. FUNDS SET ASIDE FOR HOUSING Recommendation: That the Agency identify priorities for the use of funds generated, by the various redevelopment project areas which are set aside for housing. Redevelopment Director noted that only the CBI) Redevelopment Project area is exempt from the requirement to set aside funds for housing, and that in line with study session discussion, Item C. of the Policy will be revised to show a connection to the jobs training program. Resolution 475, as recommended, was presented; after which, it was moved by Birer, seconded by Foster, and unanimously carried, that Resolution 475 ,be adopted. 5. PA4 - AUTO SALES CENTER Recommendation: That the Agency approve a Disposition ' and Development Agreement with Luther Company Limited Partnership for Parcel 2 in the Auto Sales Center on Ramon Road at Gene Autry Trail - Agr #169. Redevelopment Director stated that the agreement is the same format as the agreement for Parcel 1; the sales price for the parcel is $1,193,284; that the required deposit has been filed; and that the developer has, by separate agreement, committed to reimburse the difference between the sales tax generated from the new car dealerships and that required to retire the remainder of the purchase price not covered over the six year debt. Resolution 476, as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Birer, and unanimously carried, that Resolution 476 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. �--'l-JUDITH S MICH Assistant Secretary MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JUNE 3, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Council Chamber, ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, ' Smith and Mayor Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Apfelbaum, and unanimously carried, that the Minutes of April 28 & May 12, 1987 be approved. PUBLIC COMMENTS: None PUBLIC HEARINGS: 1. CRA 1987-88 BUDGET Recommendation: That the Agency conduct hearing on the 1987-88 proposed budget. No action required at this time. Executive Director reported that this matter would also be considered in conjunction with the City's budget, and the Agency/Council budget review session on June 6. No further report was given. Chairman declared the hearing opened. Although Jeremy Crocker spoke at this time, his comments are reflected in the Council Minutes of this date during the City's budget hearing, per his request. There were no further appearances, and the hearing was closed. 2. PA1 - FINANCING Recommendation: That the Agency consolidate outstanding CBD Project Area loans into two loans - one from the General Fund, and one from the Parking Fund, to simplify accounting. Redevelopment Director reported that current balances are $921,987 at 6.55% for the General Fund, and $801,864 at 12% for the Parking Fund; that the combined loan will be at 9%, or $155,147 which is slightly less than the current annual interest. Resolutions 477 and 478, approving consolidation as ' recommended, was presented; after which, it was moved by Smith, seconded by Foster, and unanimously carried, that Resolutions 477 and 478 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. - -'JUDITH SUMICH Assistant Secretary g J' MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JUNE 17, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Mayor Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, June 17, 1987, at 7:30 p.m. ' ROLL CALL: Present: Members Apfelbaum, Birer, Smith and Mayor ' Bogert Absent: Member Foster REPORT OF POSTING OF AGENDA: Report of City Clerk: Agenda posted in accordance with Council policy on June 12, 1987. APPROVAL OF MINUTES: It was moved by Smith, seconded by Birer, and unanimously carried, Foster absent, that the Minutes of May 20, 1987 be approved. PUBLIC COMMENTS: (Jeremy Crocker spoke at this point, but requested his comments be part of the record concerning adoption of the City's budget) LEGISLATIVE ACTION: 1. 1987-88 BUDGET Recommendation: That the Agency approve continuing appro- priations from 1986-87 into '1987-88; and adopt its budget for 1987-88. Item highlighted by Director• of Finance; matter previously discussed in conjunction with City budget review process. Resolutions 479 and 480, approving continuing appropriations and adopting the budget, were presented; after which, it was moved by Birer, seconded by Apfelbaum, and unani- mously carried, Foster absent, that Resolutions 479 and 480 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH Assistant Secretary 1 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JULY 1, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, July 1, 1987, at 7:30 p.m. ' ROLL CALL: Present: Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None REPORT OF POSTING OF AGENDA: Report of City Clerk: Agenda posted in accordance with Council policy on June 26, 1987 PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA1 - DESERT FASHION PLAZA Recommendation: That the Agency authorize reimbursement of $66,091. 51 to Edward J. DeBartolo Corporation for expend- itures related to the development of the Desert Fashion Plaza under the participation agreement for the project. Redevelopment Planner highlighted the Director's report, and stated that two of the items remaining on the punch ' list for the project remain to be completed. Resolution 481 authorizing reimbursement as recommended, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 481 be adopted. 2. BUDGET AMENDMENT - HOUSING Recommendation: That the Agency adopt a budget to provide for specific capital projects from the Low & Moderate Income Housing Fund - $225,000. Redevelopment Planner highlighted the Director' s report, which was reviewed in detail at the last study session; and in answer to question by the Agency, he stated that the funds are set aside from the tax increment from the project areas, and must be used for purposes related to low and moderate income housing, although there is discretion as to specific projects. Resolution 482 adopting budget as recommended, was presented; after which, it was moved by Foster, seconded by Apfelbaum, and unanimously carried, that Resolution ' 482 be adopted. ls (➢ CRA Minutes 7-1-87 Page 2 3. PA6 - CASA DEL CAMINO...HOTEL ACQUISITION/FINANCING Recommendation: That the Agency authorize an additional cash payment of $265,000 for the purchase of the Casa del Camino Hotel at 1447 North Palm Canyon, and entering into a two-year note with Sekhri Enterprises to cover the $175,000 balance owned by the Agency, at: 12% interest. ' Redevelopment Planner highlighted the Director's report, which was reviewed in detail at the last study session. Resolution 483 authorizing actions as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Birer, and unanimously ', carried, that Resolution 483 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. %"JUD1'TH SUMICH Assistant Secretary 021 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JULY 15, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, July 15, 1987, at 7:30 p.m. ' ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None REPORT OF POSTING OF AGENDA: Report of City Clerk: Agenda posted, in accordance with Council policy on July 10, 1987. APPROVAL OF MINUTES: It was moved by Birer, seconded by Apfelbaum, and unanimously carried, that the Minutes of June 3, 17 and July 1, 1987 be approved. PUBLIC COMMENTS: None PUBLIC HEARING: JOINT PUBLIC HEARING WITH CITY COUNCIL 1. PA1B2 - SALE OF TEXACO SITE Recommendation: That the Agency/Council conduct public ' hearing required prior to the sale of any property acquired by the Agency through tax increment funds. former Texaco Service Station site, 395 North Palm Canyon, was acquired by the Agency in 1982, and is proposed to be sold to Center Belardo Company for a total of $351,000. The specifics of the proposal were reviewed in detail at the last study session. Redevelopment Director reviewed his report, and stated that the developer asked to enter into an agreement for the development of a retail/restaurant complex in conjunction with his property located to the rear of the subject site; that the transaction was reviewed at the study session; that the Agency has invested approximately $349,000, and the proposed sale would be at $351,000; that following the study session he met with the developer, who is not in agreement with the proposal to change from lease/option to purchase only as suggested at the study session; and that since a hearing is required, he recommended proceeding with it, followed by adjournment to July 21 to further negotiate with the developer. Chairman/Mayor declared the hearing opened; there were no appearances, and the hearing was closed. ' Consensus: Further negotiation with the developer at an adjourned meeting July 21. ADJOURNMENT There being no further business, Chairman/Mayor declared the meeting adjourned to Tuesday, July 21, 1987, at 3 p.m. DITH SUMICH Assistant Secretary MINUTES OF THE CITY COUNCIL AND COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS JULY 21, 1687 An Adjourned Regular Meeting of the City Council of the City of Palm Springs, California, was called to order by Mayor Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way on Tuesday; July 2.1, 1987, at 3 p.m. ROLL CALL: Present: Council Agency Members Birer, Foster, Smith and Mayor Bogert Absent: Council/Agency Member Apfelbaum REPORT OF POSTING Or AGENDA: Report of City Clerk: Agenda posted in accordance with Council policy on July 17, 1987 PUBLIC COMMENTS (3-minute limit per person) to either Council or Agency - None 1.. JOINT PUBLIC HEAPING: PAIB2 - SALE OF TEXACO SITE. On July 15, Council and the Agency conducted -the public hearing required prior to the sale of any property acquired by the Agency through tax increment - unds. The site is the former Texaco Service Station site, 395 North Palm Canyon, acquired by the Agency in 1982, and proposed to be sold to Center Belardo Co. The matter was continued to this date. Redevelopment Director reported that following the last meeting, ' he met with Mr. Silberman to discuss alternal;es to a lease of the property; that Silberman proposed to purchase the property for $300,000, with $30,000 at the close of escrow, with a tern year repayment on the balance and, a subordinate note for a. con- struction loan, and any balance upon completion to be in the form of a deed of trust. He stated that the City has about g$W,000 in the property; that Silberman owns the property in the back and desires to combine the properties for a retail-restaurant complex, for which he has potentialltenants. Robert Silberman, 9255 W. Third, ', Beverly Hells, stated that he is ready to proceed with the project; that leasing of the property relates to financing for the project; that the lease proposal was intended to be onerous enough that it would not be inviting to continue leasing after five years, but rather to exercise the option to purchase; that once the building is erected, and permanent financing in place, it would make sense to buy the property, which he estimates to be in two years; that five years allows flexibility in the event something unforeseen happens, and the banks generally think that long term leasing is akin to owning i the property, and allows the bank time in which to re-market the property in event something happens, and it must be taken back; and -that he has firm and semi-firm commitments from potential restaurants. He also provided a general description of the project and its relationship to the General Telephone Company parking lot. Agency Member Smith stated that the Agency wants to get its money out of the property, so it can be put to use elsewhere in the Redevelopment Project Area. �2?.3 CRA/Council Minutes 7-21-87 Page 2 I . TE9ACO SITE (Continued) Mr. Silberman stated that he is not opposed to more onerous condi- tions which would require purchase after the 5th year, and would agree to rent increases of 15%; that he believes the City will recover its money quickly through sales and property tax increases; and that banks do not require a suborcfiunation clause if long 'term leasing is in place, and his ownership of the rear property is a good security. Agency Member Birer stated than; he originally objected to the lease aspect, but would mot be adverse to it iV= the terms were onerous enough to preclude continuing without first buying the property; and 'dease would be based on SI351,000. He stated tdnat he would like to take another look at the details of the documentation, as well as preliminary plans for the project. Mr. Silberman also stated that In will be receiving a firm price on the demolition o, the former Youth Center building, and would be willing to offer it for firefighter training, provided it is completed by August 31. Consensus: Proceed with lease/purchase at $351,000, with staffer terms beyond five years to make buyout more attractive a't that Plant. LEGISLATIVE ACTION: (None Ready) ADJOURNMENT ' There being no further business, Mayor/Chairman declared the meeting adjourned to Tuesday, July 28, 1987, at 3 p.m. , in the Large Conference Room, City Hall . _o JUDIiH WHICH City Clerk &. Assistant Secretary 02 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS AUGUST 5, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs., was tailed to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, August 5, 1987. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert Absent: None REPORT OF POSTING OF AGENDA: Report of Assistant City Cleric Agenda posted in accordance with Council policy on July 31, 1987 . APPROVAL OF MINUTES: It was moved by Birer, seconded by Foster, and unanimously carried, that the Minutes of, July 15 and 21, 1987, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA1B2 - TEXACO SITE Recommendation: That the Agency approve an Owner Participation Agreement with Center Belardo Company for the acquisition ' and development of Agency , owned property at 395 North Palm Canyon (formerly Texaco Site) . Redevelopment Planner reviewed the staff report and stated that, if the Owner Participation Agreement is approved, the property would be leased to Center Belardo Company, with an option to purchase within a specified period of time, pursuant to previous discussion by the Agency. Resolution 484 approving Owner Participation Agreement, Ayr #170, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 484 be adopted. 2. PA6 - ACQUISITION OF CASA DEL CAMINO HOTEL/FINANCING Recommendation: That a four (4) year note at 11.5% interest be entered into with the Bank of Palm Springs to cover the $175,000 balance owed by the Agency on the Casa Del Camino Hotel at 1447 North Palm Canyon Drive. City Manager stated that additional information relating to the financing on the acquisition of the hotel has been requested and recommmended that no action be taken at this time. ' No action at this time. CRA Minutes 8-5-87 Page Two 3. PROPERTY UPGRADE ASSISTANCE PROGRAM Recommendation: That the Agency adopt guidelines and priority areas for the Property Upgrade Assistance Program for the Central Business District, North Palm Canyon and South Palm Canyon redevelopment project areas. Redevelopment Planner reviewed the staff report, and stated that the guidelines will allow staff to proceed with publicity and receipt of applications for the assistance program; to provide minor architectural services for the improvement at no charge ; to provide a matching grant for the improvement of up to $1,000 per storefront. He stated there is a priority area in each of the three project areas which has been identified as in need of visual upgrading ; and that the funds generated by the increase in property values within those areas must be spent within those project areas for programs such as this. Resolution 485 adopting the guidelines and priority areas for a Property Upgrade Assistance Program, as recommended, was presented ; after which, it was moved by Birer, seconded by Apfelbaum, and unanimously carried, that Resolution 485 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. JUDITH SUMICH As-sistant Secre ary By: PATRICIrA JONES Acting Assistant Secretary n2C MINUTES OF CITY OF PALM SPRINGS CITY COUNCIL AND COMMUNITY REDEVELOPMENT AGENCY AUGUST 19, 1987 A Regular Meeting of the City Council and of the Community Redevelopment Agency, was called to order by the Assistant City Clerk and Acting Assistant Secretary, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, August 19, 19137, at 7:30 p.m. ROLL CALL: Present: Council/Agency Members: None Absent: Council/Agency Members: Apfelbaum, Birer, Foster, Smith and Mayor/Chairman Bogert There being lack of a quorum, the Assistant City Clerk/Acting Assistant Secretary declared the meeting adjourned to Tuesday, August 25, 1987, in the Large Conference Room, City Hall , at 3 p.m. ( H SUMICH (,ity Clerk & Assistant Secretary By: PATRICIA JONES Acting City Clerk & Acting Assistant Secretary ' MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS SEPTEMBER 2, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Vice-Chairman Birer in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, September 2, 1987, at 7:30 p.m. ROIL CALL: Present: Members Apfelbaum, Birer, Foster, and Smith Absent: Chairman Bogert APPROVAL OF MINUTES It was moved by Apfelbaum, seconded by Foster, and unanimously carried, that the Minutes of August 5, 1987, be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. SELF-HELP HOUSING PROGRAM Recommendation: That the Agency approve an agreement with the Coachella Valley Housing Coalition (CVHC) for services related to the development of self-help housing, Agr #171. Copy of said agreement on file in the office of the City Clerk. ' Director of Redevelopment stated that this matter was reviewed in the Study Session of September 1, 1987; that the issue is one of assisting the development of self-help housing by providing a two-phase program; that the first phase is to file an application with the State for $25,000, and the second phase, if that application is successful , is to obtain $100,000 to cover costs not otherwise provided in the program; that the agreement is with the Coachella Valley Housing Coalition, which has considerable experience in self-help housing, and staff believes the program is one way the Agency can contribute to resolving housing problem in Palm Springs. Resolution 486 approving an agreement with the Coachella Valley Housing Coalition for services related to a self-help housing program was presented; after which, it was moved by Smith, seconded by Foster, and unanimously carried, Bogert absent, that Resolution 486 be adopted. 2. PA6 - ACQUISITION OF CASA DEL CAMINO HOTEL/FINANCING Recommendation: That a four year note at 11.5% interest be entered into with the Bank of Palm Springs to cover the $175,000 balance owed by the Agency on the Casa del Camino Hotel at 1447 North Palm Canyon Drive. Director of Redevelopment reviewed the staff report and stated that the Agency owes $175,000 to the owners of the Casa del Camino Hotel , which is now due and payable under the agreement; that staff previously recommended entering into a loan with the Bank of America to pay the $175,000 over a period of 41-, years at 11.5% interest, which included CRA Minutes 9-2-87, Page 2 2. PA6 - ACQUISITION OF CASA DEL CAMINO HOTEL/FINANCING a one point fee; that in :the study session of September ' 1, 1987, the Agency recommended that it would be advantageous to consider a direct loan from the City to the Agency, thereby earning the City the 11.5% interest; and that the Resolution before the Agency had been modified to that effect. Resolution 487 authorizing ' the financing, was presented; after which, it was moved by Apfelbaum, seconded by Smith, and unanimously carried, Bogert absent, that Resolution 487 be adopted. ADJOURNMENT There being no further business, Vice-Chair an declared the meeting adjourned. � DITH SUMICH Assistant Secretary 8y: PATRICIA JONES Acting Assistant Secretary 029 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS SEPTEMBER 16, 1987 A Regular Meeting of the Community Redevelopment Agency, of the City of Palm Springs, was called to order by Chairman Bogert, in the Council ' Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, September 16, 1987, at 7:30 p.m. ROLL CALL: Present: Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA6 - CASA DEL CAMINO Recommendation: That the Agency approve $180,000 budget amendment to complete payment on trust deed for acquisition of the property. Redevelopment Director reported that the action is ministerial and covers the loan payment previously authorized. Resolution 488 approving budget amendment, was presented; after which, it was moved by Smith, seconded by Birer, and unanimously carried, that Resolution 488 be adopted. 2. PA1 - CALTRANS FEE FOR DESERT FASHION PLAZA Recommendation: That the Agency authorize payment of $18,755. 52 to CALTRANS for permit fees related to the installation of traffic signals on N. Palm Canyon, adjacent to the Desert Fashion Plaza. Redevelopment Director stated that the action is consistent with previous action relative to the installation and relocation of signals in connection with the project. Resolution 489 authorizing payment was presented; after which, it was moved by Foster, seconded by Apfelbaum, and unanimously carried, that Resolution 489 be adopted. ADJOURNMENT There being no further business, Mayor declared the meeting adjourned to Tuesday, September 22, 1987, at 3 p.m. , in the Large Conference Room, City Hall . JUDITH SUMICH ' Assistant Secretary 0.73 0 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS SEPTEMBER 30, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, September 30, 1987, at 2 p.m. ' ROLL CALL: Present: Members Apfelbaum, Birer, Foster, Smith and ChairmanAogert Absent: None APPROVAL OF MINUTES: It was moved by Apfelbaum, seconded by Birer, and unanimously carried, that the Minutes of August 19, 1987 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. BUDGET AMENDMENT - EMERGENCY SHELTER Recommendation: That the , Agency approve an agreement and one-time contribution of $29,445 to Riverside County Coalition for Alternatives to Domestic Violence (RCCADV), toward purchase and rehabilitation of an emergency shelter in the Coachella Valley (preliminary approval granted September 16, 1986) - Agr #172; and amend the budget to ' appropriate the funds. Redevelopment Specialist reported that the funds are for building purposes only, and will be held in escrow until completion of the purchase„ and if it is not completed, the funds will be returned to the Agency. Resolution 490 approving the agreement, and Resolution 491 amending the budget, were presented; after which, it was moved by Apfelbaum, seconded by Birer, and unanimously carried, that Resolutions 490 and 491 be adopted. ADJOURNMENT There being no further business„ Chairman declared the meeting adjourned. ) / _ MITH SUMICH Assistant Secretary 02 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS OCTOBER 7, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, October 7, 1987. ROLL CALL: Present: None Absent: Agency Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Due to lack of a quorum, the Assistant Secretary declared the meeting adjourned to Tuesday, October 13, 1987, at 3 p.m. , in the Large Conference Room, City Hall . UDITn SUMICH Assistant Secretary 1 02 e MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS OCTOBER 2:1, 1987 A Regular Meeting of the Community Redevelopment Agency of the ' City of Palm Springs, California, ' was called to order by Chairman Bogert in the Council Chambers, 3200 Tahquitz-McCallum Way, on Wednesday, October 21, 1987, at 7:30 p.m. ROLL CALL: Present: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Smith, and unanimously carried, that the Minutes of September 21, 16, and 30, 1987, be approved. PUBLIC COMMENTS - None LEGISLATIVE ACTION: 1. PA1B4-6 - DESERT FASHION PLAZA Recommendation: That the Agency approve the Certificate of Completion for the Desert Fashion Plaza pursuant to the Participation Agreement. ' Director of Redevelopment reviewed the staff report and stated that the Participation Agreement with DeBartolo requires the Agency to issue a Certificate of Completion for the finished development; that terms and provisions of that agreement have been complied with; and that DeBartolo would still be obligated to certain financial guarantees, which remain in effect for three years from July 1, 1987. Resolution 492 approving Certificate of Completion for the project was presented; after which, it was moved by Smith, seconded by Foster, and unanimously carried, that Resolution 492 be adopted. 2. PA9B - CONSULTING SERVICES Recommendation: That the Agency approve a contract with Municipal Services, Inc. (MSI) , for redevelopment consulting services related to the creation of Project Area #9, Agr #173. Director of Redevelopment stated that this matter was reviewed in study session, that Staff believes that there are other areas in the City, comprised of many hundreds of acres, which should be considered for redevelopment. He stated that proposals were requested from Municipal Services, Inc. (MSI) , and Gunn, Russell , Copenhaver (GRC) ; that ultimately survey areas will be established; that the MSI contract is a fixed contract for $52,750, and the GRC contract ranged from $39,750 to $80,000, based on the amount of acres that might be considered. He 'stated that Staff estimated the logical area to be studied, and concluded that the price CRA Minutes 10-21-87, Page 2 2. PA9B - CONSULTING SERVICES for the study could be approximately $60,000; that $75,000 ' is allocated in the budget and the balance of the budget would be used for legal services to form redevelopment project areas. He stated that MSI is a branch of Benchmark Group, which had a contract in the last year with him for architectural services for low and moderate-income, replacement housing; that it might appear to be a conflict of interest, but that he does not think there is a conflict since Benchmark did not give him a contract in return for the CRA approving an agreement with MSI ; and that staff has worked with both groups on Redevelopment projects, and is confident either firm can do the work. He stated that a fixed contract is better, but both firms are well qualified. Resolution 493 approving Agreement #173 with MSI, as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Foster, and unanimously carried, that Resolution 493 be adopted. 3. FINANCING PA7, 8 & 9 Recommendation: That the Agency and Council approve new loans to the Highland-Gateway, Bari sto-Farrell , and Area #9 project areas, of $50,000, $102,000, and $87,500 respectively, and consolidate said loans with existing loans for Project Areas ' 7 and 8, resulting in single loans of $104,400 and $126,300 respectively. Resolutions 494 through 496 approving new loans, as recommended were presented; after which, it was moved by Foster, seconded by Apfelbaum, and unanimously carried, that Resolutions 494 through 496 be adopted. ADJOURNMENT There being no further business, Chairman dec ared the meeting adjourned. allDITH SUMICH Assistant Secretary By: PATRICIA JONES Acting Assistant Secretary 0 3.1 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS NOVEMBER 4, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum play, on Wednesday, November 4, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None APPROVAL OF MINUTES: It was moved by Birer, seconded by Smith, and unanimously carried, that the Minutes of October 7 & 21, 1987 be approved. PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. 1986-87 BUDGET AMENDMENT Recommendation: That the Agency amend the budget to provide authorization for expenditures made which exceed the final approved budget, by $2,486: Treasurer reported that the amount includes approximately $2,000 in interest payments to the City for loans made ' during the year. Resolution 497 amending the budget, as recommended, was presented; after which, it was moved by Birer, seconded by Apfelbaum, and unanimously carried, that Resolution 497 be adopted. 2. PALM CANYON PLAZA HOTEL - FINANCING Recommendation: That the Agency express intent to issue approximately $50 million composite issue 1987 Floating Rate Refunding Certificates of Participation, and certain other actions, including appointing Prudential-Bache Capital Funding as underwriter, relative to the Palm Canyon Plaza Hotel Projects 1-7. Redevelopment Director reported that the Agency has been working with Mr. Crowe on the hotel project since 1982; that tax exempt bond issue was sold in 1984, and those funds have been held in trust since that time; that Mr. Crowe now has in place the credit to build the hotel and needs approval to remarket the bonds; that the number of rooms in the hotel have increased from 290 to 345, which will require a reformulation of the condominium plan, as well as the financing documents; that all ' documentation is not ready at this time, and the request is for the Agency to meet on November 1C, or further adjourn to November 12, at which point all approvals must be completed. He stated that this item was reviewed in study session, and Agency Members Foster and Smith will be reviewing the condominium! plan in 'terms of its flexibility to modify architectural concerns previously expressed by the City Council in approving the revised use permit. CRA Minutes 11-4-87 page 2 2. PALM CANYON PLAZA HOTEL (Continued) Resolution 498, approving actions, as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Foster, and unanimously carried, that Resolution 498 be adapted. ' ADJOURNMENT There being no further business, Chairman declared the meeting adjourned to Tuesday, November 10, 1987, at 2 p.m. , in the Large Conference Room, City Hall . ' JUDITH SUMICH Assistant Secretary 1 MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALK SPRINGS NOVEMBER 10, 1987 An Adjourned Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Large Conference Room, City Hall , 3200 Tahquitz-McCallum Way, on Tuesday, November 10, 1987, at 3 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, and ' Chairman Bogert Absent: Agency Member Smith PUBLIC COMMENTS: a) Jeremy Crocker (regarding Item 1) stated that the amount of the sale is twice the City' s budget, and he was aware that it is a refunding of a previous issue, which benefits the hotel ; that a recent news article indicates a different ownership than Palm Canyon Plaza Associates; that project failure could elevate interest rates and other bond issues for the City; that as of 11:30 a.m. , the documents were not available, and questioned why there is haste and the Agency is being asked to vote on something which it has only just received; and if the project is one which the Agency really wants to finance. LEGISLATIVE ACTION: 1. PALM CANYON PLAZA HOTEL - FINANCING: Recommendation: That the 'Agency consent to the sale and ' delivery of $50 million principal amount of variable rate demand refunding of "Certificates of Participation, Series 1-7, 'Palm Canyon Plaza Project, ' 1987 Composite," and approve certain documents and authorize certain action in connection therewith. City Manager stated that the Agency is not financing the project, and if redevelopment funds were to be involved, it would be through a negotiation for expenditure for off-site improvements. Agency Member Birer stated that the project has been discussed and studied for many months. Redevelopment Director reported that Mr. Crowe tried for some time to get a good equity partner; that it appears the transaction will be concluded this date; that the change in partnership, and in the scope of the project require redoing all of the financing documents, which only arrived this date at 10 a.m. ; that the documents are technical and legal , and the bond attorney must be , trusted that they are in order; that documents must be approved and signed by November 12 to let the project continue, otherwise it will go to private financing if it could be done that way; that the project ' has been greatly enhanced by the involvement of the Sheraton line, which was discussed at the last meeting; that Mr. Crowe has the backing to make the project work, if the Agency can proceed through the documents by the end of the year; that the funds are being held in a trust account in the Bank of Arizona, which must be dissolved, and new financing issued, which also will be in an 'escrow account for about 45 days; that the condominium plan ' is not part of the action this date, and prior architectural concern should not affect that plan; that certain documents will be certified by the bond attorney, and others by the City Attorney, as to [)3 i CRA Minutes 11-10-87 Page 2 1. PALM CANYON PLAZA HOTEL (Continued) completeness; that neither the City nor the Agency is obligated to pay the bonds, and a failure could possibly cast an onus on the City, but that is not expected; that the project is composed of three parcels - Mr. Crowe, Palm Canyon Partnership, and the Bank of America, which is proposed to be bought out ' by the financing partnership; that negotiations are underway for the Russell Wade parcel , and agreement has been reached for an amicable settlement, as well as with Sherman Harris, once the financing is approved. Chairman stated that Mr. Wade is a client, and he would abstain from discussion and voting. City Attorney stated that in answer to question by Mr. Crocker, documents acted upon by the Agency must be made available to the public and press within a reasonable time after they are made available to the Agency or Council . Resolution 499, approving actions as recommended, was presented; after which, it was moved by Apfelbaum, seconded by Birer, and unanimously carried, that Resolution 499 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. UDITH SUMICH Assistant Secretary n38 MINUTES 'OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS NOVEMBER 18, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, November 18, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, ' Smith and Mayor Bogert Absent: None PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA7 - LAND ACQUISITION Recommendation: That the Agency authorize purchase of tax deeded land from the County for parcel known as the Nz of Lot 25, Desert Highland Estates, in the Highland Gateway Project Area, for $3,000. Redevelopment Director reported that the parcel is 30' x 100' , substandard, next to two lots the City currently owns, located between Las Vegas Road and Radio Road; and would otherwise cost approximately $6,000. Resolution 500 authorizing purchase as recommended, was presented; after which, it was moved by Smith, seconded by Apfelbaum, and unanimously carried, that Resolution ' 500 be adopted. 2. 1987-88 BUDGET AMENDMENT - ANDREAS WALKWAY Recommendation: That the Agency amend its budget to appropriate $125,000 for design and construction of Phase I of the Andreas Walkway, between Palm Canyon and Indian Avenue. Redevelopment Director reported that funds have been budgeted to underground utilities in Block 2, but it will not be ready for construction until 1988, and recommended that those funds be transferred to fund the subject project. Resolution 501 amending the budget as recommended, was presented; after which, it was moved by Birer, seconded by Apfelbaum, and unanimously carried, that Resolution 501 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. �� Jl DITH SUMICH Assistant Secretary MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS DECEMBER 2, 1987 A Regular Meeting of the City Council of the City of Palm Springs, California, was called to order by Chairman Bogert in the Council Chamber, 3200 Tahquitz-McCallum Way, on Wednesday, December 2, 1987, at 7:30 p.m. ROLL CALL: Present: Agency Members Apfelbaum, Birer, Foster, ' Smith and Mayor Bogert Absent: None PUBLIC COMMENTS: a) Welwood Plaza Jeremy Crocker stated that the Council rescinded its action on the sale of the Library, which he felt included the entire building; that the Billie Lu Floan room is on the White property, which was given for only library purposes; and if that is negated, it could be lost to the City forever, and reclaimed by the heirs. Deyna Hodges, 2122 Baristo, Chairman of the Save the Welwood Murray Library Committee, stated that the Committee opposes any action dealing with any destruction or remodelling of the Library; that she has reviewed building permit records, and the room is a part of the original construction, and removal of one-third of the structure is not removal of a "minor add on;" that there are deed restrictions on ' both the Murray and White parcels; that perhaps a portion of Mr. Wessman' s project should be removed; that she could not support the elements of the agreement concerning the library properties; and that she urged Council consider all portions of the agreement before granting approval . John Wessman stated that the Library contains about 3,900 square feet, plus 500 square feet in the basement; that the area for removal represents about 600 square feet, which is not one-third of the building; that the property belongs to the City; that there are no other buildings proposed on the White parcel ; and that he believes the City has the power to remodel the building without the lengthy process the citizens group would like to see happen. LEGISLATIVE ACTION: 1. PA1B7 - WELWOOD PLAZA Recommendation: That the Agency approve elements for an amended agreement with John Wessman relative to the ' Welwood Library. Redevelopment Director reported that revised plans and agreement language have been received and discussed with the Attorney since the study session; that a second amended participation agreement would be considered, and the attempt is to try to agree to the elements to be included in that document ; that it appears the materials will be ready on December 7, and proposed that the Agency adjourn to that date; that the Library is still an issue, and the Library Board will meet prior to the adjourned meeting, to review the design issues; that the Historic Site Preservation Board disapproved the idea of removal of CRA Minutes (� 12-2-87 Page 2 1. WELWOOD PLAZA (Continued) the back storage room, but approved removal of the additions at the back porches, with extension of the tile roof, even though they were not a part of the original design; that there are still legal restrictions on the White parcel , on which there are no buildings proposed to be constructed, rather a wide access and entry to the courtyard, which could be used for outdoor reading, walking or perhaps ' designed for dining; that it, is the Council ' s responsibility as to what to do with an historic building, and it has the ability to make modifications as it deems appropriate; that the Planning Commission would need to look at the total project, but it has approved the concept, including the removal of the Strebe; Willard and Lantz buildings; that Mr. Wessman is seeking commitment from the Agency and Council so he may move forward with the final plans and construction; that he is currently at risk $700,000; that removal of the additions will be part of the discussion at the adjourned meeting; that the elements of the agreement were reviewed in detail at the study session; that the money paid upfront by Mr. Wessman for the Agencies responsibilities would be reimbursed to him by the Agency over a period of time, plus interest, and there would be no cash flow problems for the Agency; that approval would include developing a specific plan by the Agency for the entire block. He displayed the revised plans showing no buildings on the White parcel , and stated that by the proposed agreement there is no plan or agreement to sell either the Murray or the White parcel to Mr. Wessman, rather that if the Council or Agency should have the ability to do so, and chooses to do so, that it would make the offer to Mr. Wessman. ' Agency Member Birer stated, that the plan is one of the most exciting For the downtown area; that Mr. Wessman has made a number of concessions; that he went into the Billie Lu Floan room and there were only two patrons sitting in the back of the library; that he believes the project will be a most interesting promenade in the City; and that the room appears to be an add on, has different architectural features and setbacks, and a window has either been boarded or bricked over. Resolution 502, approving the elements of an amended agreement, exclusive of the library issues, was presented; after which, it was moved by Birer, seconded by Smith, and unanimously carried, that Resolution 502 be adopted, and that further consideration be given at the adjourned meeting of December 7, 1987. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned to Monday, December 7, 1987, at 3 p.m. , in the Large Conference Room, City Hall . �DITH LICH ' ✓ City Clerk MINUTES OF COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS DECEMBER 7, 1987 An Adjourned Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz-McCallum Way, on Monday, December 7, 1987, at 3 p.m. , in the Large Conference Room, City Hall . ROLL CALL: Present: Councilmembers Apfelbaum, Birer, Foster, Smith and Mayor Bogert Absent: None PUBLIC COMMENTS: None LEGISLATIVE ACTION: 1. PA1B7 - WELWOOD PLAZA On December 2, 1987, Council approved elements of amended participation agreement with John Wessman relative to development of the McCallum Building and surrounding area, and continued final action to this date. Redevelopment Director reported that this matter was not ready for final action; that the commitment to remodel the library and relocate specific tenants is about $300,000, and legal fees could add another $100,000; that as a result of the Historic Site Preservation Board action, an appeal has been filed by Mr. Wessman, and is scheduled for the December 16 meeting of the City Council ; that he believed there were some aspects which were not considered by the HSPB; and that the Library Board met this date, and has submitted its recommendation. City Librarian stated that the Board met to discuss what might have to happen to permit a release for the removal of small portions of the library; and approved the removals, subject to nine conditions, which are detailed in the Board' s memorandum dated December 7, 1987, on file with the City Clerk. Redevelopment Director reported the following: a) Regarding Condition 1, it is agreed to and understood by all parties, and there will be an agreement between the City and the developer as to the cost of maintaining the patio and other public areas; regarding Condition 2, it should not cause a problem, and is included in the participation agreement; Condition 3, that he believed it acceptable to the developer; and Condition 4, that the items are all within the library building, and should not cause a problem. Concerning Condition 5 (site users fee,) he stated that it appears to be totally beyond the scope of the original agreement, is not acceptable to the developer, is a complete change in what was proposed; and it seems late to be asking for it. ' City Librarian stated that the Board thinks the developer would benefit from patio area, and the Library should be compensated. Redevelopment Director stated that only the 20' x 32' Billie Lu Floan Room is new area affected by the proposal ; that the Board is asking for the entire 4500 square feet to be valued, and the developer pay one-half of the amount, or lease the space, or pay a one time user fee. 04w CRA Minutes 12-7-87 Page 2 1. PAIN - WELWOOD PLAZA (Continued):: City Manager stated that the open space is an enhancement affecting the aesthetics of the project, but he did not believe it is revenue producing to the project. Library Board Chairman stated that the Board thought by giving up the room, the developer gairis the opportunity to draw people into the project via wider access than he would otherwise have, which will make the project much more economically sound. City Librarian stated that the room has not been used for library purposes in the past twelve ;years; that the architect of the original building told him it was initially designed to be Desert Museum space, although it was constructed at the same time. Mr. Wessman stated that 90% of the space was included in the original approval ; that he is trying to create an environment which will be pleasing and attractive to the general public; and that he considered the matter closed. Regarding Condition 6, Redevelopment Director stated that it should not present a problem to the project; nor was the developer too concerned about Condition 7, although it may not be the best aesthetics , and it does not restore the building to its historic significance, nor Condition 8. City Manager noted that regarding Condition 7, the Council must decide between the recommendations ' of two different Boards. In answer to questions by the Agency, Redevelopment Director stated that the Agency pays for the cost of remodelling, and the developer advances the funds, to be repaid to him over the years at 9% interest; that Wessman would have benefited from the open area by being able to buy the Library, and he would have paid for everything; that in the absence of selling it to him, he does not benefit from the use of the library (originally intended for tenant relocation) ; that there is a total benefit to the City to achieve open space in the heart of the downtown. Mr. Wessman stated that ' his project results in under- building the properties, and creating open space, which is commendable. City Manager stated that the only, way to encourage new development downtown is to 'increase density, thereby adding to the amount of profit that a developer can get from the project; or to consciously subsidize a lower density project as an offset to attracting open space that would not otherwise come through new development or rebuilding. Agency Member Apfelbaum ,stated that everyone needs to ' set aside territorial concerns, and the answers will come more easily to achieve al project which is good for the city. CRA Minutes ) 12-7•-87 Page 3 1. PA1B7 (Continued) City Librarian stated that the Library Board adopted the same spirit, and reiterated its previous enthusiasm for the project. ' Agency Member Birer stated that he understood the rationale for wanting compensation for the book room area, but not the entire patio. Redevelopment Director stated that he wants to check the agreement with legal counsel because it needs some reworking; that he still has concerns about the overall jeopardy of the City until the status of the legal suits is known; that all issues regarding the Library sale have been rescinded and deleted from the agreement; that further litigation is being raised whether the City has the right to demolish the book room; that the issues need to be resolved amicably and not legally, and unless that can be accomplished in a friendly manner, the project probably will die; and that the matter should be carried over to December 16, 1987. He stated that he believed the RSPB followed its mandate about not allowing changes to an historic site from a pure point of view, and that the Code allows modifications, and he felt the Board might change its view. Agency Member Birer stated that he would like Condition 5 to be more specifically delineated, and would like a cost breakdown for only the Bille Lu Fioan Room, and one ' for the entire patio area. City Attorney stated that he met with Judge Jamin concerning the Save the Welwood Murray Library Committee' s request, which seeks to remove the Writ of Mandate out of the status of a decision, in order to permit a motion to amend the petition to object to the sale, or partial removal of a portion of the building; that he was not specific about the motion, and suggested that the parties get together to resolve it; alternative is that there could be a new lawsuit, or an amendment to the existing one. It was moved by Birer, seconded by Apfelbaum, and unani- mously carried, that this matter be continued to December 16, 1987. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. /JUDITH SUMICH Assistant Secretary t 041 MINUTES 'OF CITY OF PALM ',SPRINGS COMMUNITY REDEVELOPMENT AGENCY DECEMBER 16, 1987 A Regular Meeting of the Community Redevelopment Agency of the City of Palm Springs, California, was called to order by Chairman Bogert, in the Council Chamber, 3200 Tahquitz--McCallum Way, on Wednesday, December 16, 1987, at 7:30 p.m. ROLL CALL (City Council remained in Session) : Present: Agency Members Apfelbaum, Birer, Foster, and Mayor Bogert Absent: Member Smith REPORT OF POSTING OF AGENDA: See City Council Minutes this date. APPROVAL OF MINUTES: It was moved by Birer, seconded by Apfelbaum, and unanimously carried, Smith absent, that the Minutes of November 4, 1.0 & 18, 1987, be approved. PUBLIC COMMENTS: Welwood Plaza: Allen Perrier, Attorney, ' requested that the matter be continued, and stated that the only conversation between Mr. Feenstra and Mr. Strebe, since the idea of including his property with the proposed project was first brought forward, occurred this date; that he acknowledged there have been discussions with Mr. Wessmari; that he thought ' it odd for the Agency/City to commit to .$800,000 without obtaining participation by Mr. Strebe; that his property was not included in either the first, nor second stages of the project's development, .and only became so when the bonds had to be sold; that he considered it unusual for the Agency to contract to sell Mr. Strebe's property to Mr. Wessman; that Mr.; Strebe understood there would be no condemnation; that he wants to participate, and has made that fact known. Mr. Wessman stated that he has met with Mr. Strebe, or his associate, on a number of occasions, to discuss the impact of the project on his property; that he has talked about buying, trading or leasing the property; that Mr. Strebe was not opposed to the project, but has an attachment to his own property, and said he would like to be involved if he were younger. Mr. Wessman also stated that he is willing to do all he can to make the project work, and the Agency/City must either move ahead or stop. Bill James, 340 S. Farrell , stated that he has attended a number of meetings between Mr. Wessman and Mr. Strebe, and Mr. Strebe was insistent that he participate in the project; that he does not want to give up the property, because of its historic significance to his family and ' heirs; that the Agency has the power of eminent domain; and that Mr. Strebe wants the property leased From him. Mr. Wessman stated that Mr. Strebe never told him he wanted to be a developer, or to build anything; that he would like to lease the property, and he is willing to work in that direction; and that he believed the Agency/City must proceed with the action before it, or there would not be a project in two days. CRA Minutes (1 : 12-16-87 Page 2 (Continued Public Comments - Welwood Plaza) Reuell Young, Architect, stated that a proposal is forthcoming for the Council to undertake a program that would address a specific plan for the entire downtown, and would provide the context within which each project would fit. Don Frank, 550 N. Cahuilla, suggested that instead of a project-by-project approach, the whole downtown should be tied together; that he wants everything bonded, and to reestablish a village theme; that a closer look needs to be taken at Palm Canyon Drive, including rerouting traffic, and opening it only to pedestrian traffic from Tachevah to Ramon. Councilmember Birer noted that Mr. Frank and others should be praised for developing an interesting plan to bring back some concepts of earlier plans, and Planning has been asked for a preliminary reaction as to how it might be accomplished. LEGISLATIVE ACTION: 1. PA1B7 - WELWOOD PLAZA Convening in joint session, consideration of amended participation agreement, elements of which were previously established. Redevelopment Director reported that Wessman has agreed that if the Agency cannot deliver the BLF wing, he will still proceed with the project, but the Agency/City must execute all legal means to bring delivery of the wing to fruition; that nine conditions of the Library Board, for approval of the release of wing, were reviewed in detail at the last study session, and most are acceptable to the developer; that the developer does not agree to payment of utilities of the branch library, which was not unreasonable on his part since he was not going to attain more property, only access to, and behind, the library site; that the developer also did not agree to an equal replacement of the patio area for ground floor space near the library, because he was not gaining additional retail space, and it would not be economically feasible for him to do so; that the Library Board Chairman and Librarian agree that a severance damage would be an equitable solution, which would not be unusual in a private transaction with the Agency. He stated that the Agency does not have possession of the other properties, and if the agreement is approved and they cannot be delivered, the City and the Agency are in major jeopardy as to obligations to Wessman; that negotiations are required, and staff would be required to begin those immediately; that there is a possibility of long term leasing of the ' Strebe property, and it will be discussed with the bank; that Mr. Strebe has indicated his desire to retain the property, and bequeath it to his heirs, and leasing will CRA Minutes 12-16-87 Page 3 1. PA1B7 (Continued) be the first approach to be taken; that it was said Mr. Strebe would like to be a 'developer of his property, but he has never submitted plans, or expressed an interest in doing so, and he did not believe he has the physical strength to do so, although he would like to have the property developed; that the next approach would be a property trade, and in that regard„ Mr. Strebe wants to make sure he would be getting the same income flow he now receives; that he has been asked for an appraisal , but his understanding is that he has not done so; that Mr. Strebe has legal remedies; that the Resolution of Necessity process will begin, and offers the opportunity for Mr. Strebe to participate; that under the agreement, the Agency has the responsibility to relocate the Willard and Strebe tenants, the cost of which will be paid up-front by Wessman, and reimbursed to him through tax increment, at 9% interest; that the Agency would be responsible for remodelling of the Library, which Wessman would also pay up-front and be repaid at 9% interest; that there is joint participation in certain public improvements, and the Agency's cost will be paid up-front by Wessman, and repaid to him at no interest; that if the easement to the patio cannot be delivered, there would be no 'interest on the first $345,000, but the 9% applied thereafter; that staff would be directed to prepare a specific plan for the entire block to take into account the historic buildings, parking, uses, land use, circulation, etc. He stated that the bonds are in jeopardy, and efforts are being made to save the financing and provide the guarantees needed. City Manager reported that condemnation could occur, but ' is not imposed under the redevelopment: powers; that acquiring enough land to make a project work is one of the major inhibitors and difficulties for developers; and if negotiations are not successful , condemnation may have to be used. Redevelopment Director reported that the developer would totally remodel the McCallum Building, and remodel other properties he is able to ,acquire into a significant plan that has considerable open space, and not much rental space; that the developer is looking to the future, and is very sensitive to the "village" concept, and that the developer has the major risk and greatest financial responsibility. He stated that: reconfiguration of the library porches would be a City expense; that removal of the walls was a part of the original agreement, with Wessman paying up-front, and being reimbursed. CRA Resolution 503, authorizing the second amended and restated participation agreement with Wessman Development Company regarding the development of Plaza de las Flores in Block 7 of the Central Business District Redevelopment Project Area, was presented; after which, it was moved by Apfelbaum, seconded byiBirer, and unanimously carried, ' Smith absent, that Resolution 503 be adopted - Agr #157. City Council Resolution 16359, authorizing the second amended and restated participation agreement, as above stated, was presented; after which, it: was moved by Apfelbaum, seconded by hirer, and unanimously carried, Smith absent, that Resolution 16359 be adopted - Agr #2329. CRA Minutes 12-16-87 Page 4 2. BUDGET AMENDMENT - LEGAL EXPENSES Recommendation: That the Agency amend the budget to appropriate $2,500 to fund legal expenses in the Oasis Redevelopment Area. This item was reviewed in study session, and no further report was given. Resolution 504, amending the budget as recommended, was presented; after which, it was moved by Foster, seconded by Apfelbaum, and unanimously carried, that Resolution 504 be adopted. ADJOURNMENT There being no further business, Chairman declared the meeting adjourned. C DITH SUMICH Assistant Secretary 1