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HomeMy WebLinkAboutRDA Minutes 1981-12-16 MINUTES SOUTH SAN FRANCISCO REDEVELOPMENT AGENCY December 16, 1981 Regular Meeting TIME: 7:00 p.m. PLACE: Community Room, rlunicipal Services Building CALL TO ORDER: Chairman Gus Nicolopulos called the South San Francisco Redevelopment Agency meeting to order at 7:19 p.m. ROLL CALL: Present: Chairman Gus Nicolopulos, Vice Chairman Roberta Cerri Teglia; Members Ronald G. Acosta and Emanuele N. Damonte Absent: Member Mark N. Addiego Also present: Executive Director/Secretary C. Walter Birkelo; Assistant Secretary Louis Dell'Angela; Director of Finance Barry Lipton, Agency Counsel Herman Fitzgerald; Mr. John Aguilar, Project Director, Homart; Mr. Herman Zeller, Bartle Wells and Associates A ~DA REVIEW Executive Director Birkelo stated that there was nothing to be added to the agenda, but he had put copies of two resolutions on the Board's desk which would replace two that had typographical errors in them as far as dates. He also stated that staff was not prepared to discuss No. 8 which has to do with the Owner Participation Agreement on the Gateway Project density. He remarked that he would give a progress report when it appears on the Council's agenda this evening. Member Damonte was excused at 7:23 p.m. APPROVAL OF MINUTES: Member Teglia moved, seconded by Member Acosta the the Minutes of the Regular Meeting of December 2, 1981, be approved. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent, APPROVAL OF BILLS: Member Acosta moved, seconded by Member Teglia, that the claims, as submitted for payment, be approved. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent. RESOLUTION REGARDING The Executive Director explained that the next two resolutions and TAX ALLOCATION BONDS one which follows relate to the fact that under the Owner Partici- AND NOTES pation Agreement, the Agency is obliged to attempt to find financing for temporary borrowing which will, ultimately, be paid off by the issuance of tax i~mrement bonds. He further RESOLUTION REGARDING explained the previous approval of the selection of the fiscal TJkX ALLOCATION BONDS consultants to assist the bond counsel, Jones, Hall, Hill, White, ) NOTES to prepare the necessary proceedings to go to the market place ~ntinued) and find this kind of financing. He further explained the "friendly law suit" to determine validity of this kind of security. Mr. Herman Fitzgerald, Counsel to the Board, briefly outlined what the Board had before them in sequence of order. He stated that Mr. Herman Zeller was present, representing the firm of Bartle Wells and Associates, if the Board had any questions. He briefly commented on Proposition 4 which has provisions in it which were unclear as to its applicability to redevelopment agencies. He stated to make sure that there were no questions that Proposition 4 does not apply to any redevelopment agency, he recommended adoption of the first resolution authorizing issuance of the bonds; second resolution would be to direct the Executive Director to publish Notice of Sale and authorizing action. He stated that the Executive Director would submit a letter advising the Board that due to the Proposition 4 possiblity, he feels he cannot publish the official Notice~ and the Board would then adopt the resolution authorizing litigation to, in effect, take the Agency out of the provis.ions of Proposition 4. In answer to the Board's inquiry about the figure of $12,000,000, Executive Director Birkelo stated that the figure was not precise, and the temporary~borrowing will be in the neighborhood of four to " five million dollars which allows some room for flexibility. Further explained was the bond issue and change of date from 1981 to 1982. RESOLUTION NO. 25 Member Acosta moved, seconded by Member Teglia that the Resolution AUTHORIZING ISSUANCE OF entitled, RESOLUTION OF THE SOUTH SAN FRANCISCO REDEVELOPMENT AGENCY $12,000,000 - PROJECT AUTHORIZING THE ISSUANCE OF $12,000,000 PRINCIPAL AMOUNT OF THE 1982 TAX ALLOCATION SOUTH SAN FRANCSICO REDEVELOPMENT AGENCY GATEWAY REDEVELOPMENT PROJECT BONDS AND NOTES 1982 TAX ALLOCATION BONDS AND NOTES, be approved and adopted. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent. RESOLUTION NO. 26 Member Teglia moved, seconded by Member Acosta that the Resolution AUTHORIZING & entitled, RESOLUTION OF THE SOUTH SAN FRANCISCO REDEVELOPMENT AGENCY DIRECTING SALE OF AUTHORIZING AND DIRECTING THE SALE OF $12.,000,000 PRINCIPAL AMOUNT $12,000,000 - PROJECT OF GATEWAY PRINCIPAL PROJECT 1982 TAX ALLOCATION BONDS AND NOTES, 1982 TAX ALLOCATION ADOPTING OFFICIAL NOTICE OF SALE AND AUTHORIZING OFFICIAL ACTION, BONDS AND NOTES be approved and adopted. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent. RESOLUTION NO. 27 Executive Director Birkelo recommended that prior to taking any action AUTHORIZING LITIGATION on this resolution, he would file with the Recording Secretary his TO COMPEL SECRETARY letter to the Agency indicating his inability to comply with the TO PUBLISH NOTICE Agency Board's instructions. · It was so ordered that the letter to the Agency Board from the Executive Director be incorporated and made a part of the records. 12/16/81 Page 2 oiO RESOLUTION NO. 27 Member Acosta moved, seconded by Member leglia that the Resolution ~ntinued) entitled, RESOLUTION OF THE SOUTH SAN FRANCISCO REDEVELOPMENT AGENCY AUTHORIZING LITIGATION TO COMPEL THE SECRETARY OF THE AGENCY TO PUBLISH A NOTICE, be approved and adopted. Motion, as made and seconded, was regularly carried; MembersAddiego and Damonte, absent. RESOLUTION RE OPA Chairman Nicolopulos stated that this resolution concerning SPECIFIC PLAN DENSITY amendment authorization to the Owner Participation Agreement CHANGE providing for change in the specific plan density would be postponed. As there were no objections, it was so ordered. RESOLUTION NO. 28 Executive Director Birkelo stated that prior to' the last meeting, AUTHORIZING EMPLOYMENT copies of the proposal from the firm of Bartle Wells and Associates OF FINANCIAL CONSULTANTS had been submitted and were recommended for selection as fiscal BARTLE WELLS & ASSOC. consultants for the tax increment funding program. Counsel had prepared a resolution confirming that selection and authorizing their employment under the terms of the proposal. Executive Director Birkeloreadin full the resolution. Member Teglia moved, seconded by Member Acosta that the Resolution entitled, A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO AUTHORIZING THE EMPLOYEMENT OF FINANCIAL CON- SULTANT FOR REDEVELOPMENT AGENCY FINANCING, be approved and adopted.. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent. I ~D AND WELFARE: Chairman Nicolopulos invited anyone in the audience to speak. No one responded to his invitation. ADJOURNMENT: Member Teglia moved, seconded by Member Acosta that the meeting be adjourned. Motion, as made and seconded, was regularly carried; Members Addiego and Damonte, absent. Time of adjournment: 7:30 p.m. APPROVED: Gus Nicolopulos, Chair~n South San Francisco Redevelopment Agency RESPECTFULLY SUBMITTED, C. Walter Birkelo, Executive Director/Secretary South San Francisco Redevelopment Agency 1 entries of this Redevelopment Agency meeting show the action taken by the Board to dispose c the item. Oral presentations, arguments, and comments are recorded on tape. The tape and documents related to the items are on file in the office of the City Manager and available for inspections, review and copying. 1 2/16/81 Page 3