HomeMy WebLinkAboutRDA Minutes 2006-02-22
MINUTES
REDEVELOPMENT AGENCY
OF THE
CITY OF SOUTH SAN FRANCISCO
REGULAR MEETING
WEDNESDAY, FEBRUARY 22, 2006
MUNICIPAL SERVICE BUILDING
COMMUNITY ROOM
33 ARROYO DRIVE
CALL TO ORDER
7:02 p.m.
(Cassette Tape No.1)
ROLL CALL
Present:
Boardlnelnbers Addiego, Gonzalez and
Matsumoto, Vice Chairman Garbarino and
Chainnan F emekes
Absent:
None
AGENDA REVIEW
No changes.
PUBLIC COMMENTS
None.
CONSENT CALENDAR
1. Motion to approve the minutes of February 8, 2006
2. Motion to confinn expense claims of February 22,2006 in the aIllOunt of$14,498.80
Motion-Matsullloto/Second-Garbarino: To approve the Consent Calendar as sublnitted.
Unanilllously approved by voice vote.
ADMINISTRATIVE BUSINESS
(The Capital Improvement Financing Authority was called to order in conjunction with the
Redevelopment Agency.)
3. Resolution authorizing the issuance, sale and delivery of tax allocation bonds, authorizing
the execution and delivery of related doculnents, and approving actions in connection
therewi th
Staff report presented by Finance Director Steele.
The Board discussed and questioned the strategies for successive bond sales (if
necessary), bond size, annual debt service, cost of issuance, bond insurance, cost benefit
analysis, tenn for bonds to mature, the City's credit rating, and bond financing v. paying
cash for smaller improvelnent projects.
Vice Chairman Garbarino requested that his middle initial be corrected (change "L." to
"A.") on pages 98, 101, and 123.
Mr. Alex Burnette, representing Citigroup, responded to questions regarding the level of
the bond size and that this sale was sOlnewhere in the lniddle, and the ilnpoliance of
having bond insurance.
Motion-Garbarino/Second-Gonzalez: To approve Resolution No. 03-2006, authorizing
the issuance sale and delivery of tax allocation bonds, authorizing the execution and
delivery of related documents, and approving actions in connection therewith.
Unanimously approved by voice vote.
CLOSED SESSION
(Recess: 7:30 p.m. - 8:26 p.ln.)
Pursuant to Government Code section 54956.8 real property negotiations related to San
Francisco Public Utilities Comlnission property located on Mission Road (APNs: 093-312-050
and 060); Agency Negotiator: Redevelopment Agency Assistant Director Van Duyn
Tillle entered into Closed Session:
Tillle reconvened into Open Session:
Report froln Closed Session:
8 :26 p.ln.
9:26 p.m., all Boardlllelllbers present.
Direction given/no action taken.
ADJOURNMENT
Being no further business, Chairman Fernekes adjourned the meeting at 9:26 p.ln.
Submitted by:
Approved:
Payne, Clerk
City of South San Francisco
oseph A. F ernekes, Chairman
City of South San Francisco
REGULAR REDEVELOPMENT AGENCY MEETING
MINUTES
FEBRUARY 22,2006
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