11/13/2007 - City Council Minutes - CC Minutes Reg Meeting
APPROVED BY THE DIRECTORS ON NOVEMBER 27, 2007
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING November 13, 2007
The Orange Redevelopment Agency of the City of Orange, California convened on November
13,2007 at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue,
Orange California.
4:30 P.M. SESSION
1. ROLL CALL
PRESENT - Smith, Murphy, Cavecche, Dumitru, Bilodeau
ABSENT - None.
2. PUBLIC COMMENTS - None.
3. CONSENT CALENDAR
3.1 Request Agency confirmation of warrant registers dated October 11, 18 and 25, 2007.
ACTION:
Approved.
3.2 Request approval of Redevelopment Agency Minutes, Regular Meeting October 23,
2007. (RC2500.D.4)
ACTION:
Approved.
MOTION -
SECOND -
AYES
Murphy
Bilodeau
Smith, Murphy, Cavecche, Dumitru, Bilodeau
All items on the Consent Calendar were approved as recommended.
END OF CONSENT CALENDAR
********
4. REPORTS FROM DIRECTORS - None.
5. REPORTS FROM BOARDS, COMMITTEES, AND COMMISSIONS - None.
6. REPORTS FROM EXECUTIVE DIRECTOR - None.
PAGE 2
ORANGE REDEVELOPMENT AGENCY
November 13,2007
7. ADMINISTRATIVE REPORTS
7.1 Report on core financing team and Consultant Services Agreements for professional
and technical services in connection with the issuance and re-financing of bonds to fund the
costs of certain public improvements within or benefiting the Orange Merged and
Amended Redevelopment Project Area. (RA2100.0 Agr-5157; 5158; 5159 & 5160)
SUMMARY: This is the first step in contracting for the core financing team that will be needed
to start the process for the eventual issuance of Redevelopment bonds to fund various public
improvements and to refinance existing Redevelopment bonds at a lower interest rate. In order
to commence the bond issuance process, the Agency requires the services of a Financial Advisor,
Bond Counsel, Disclosure Counsel and a Fiscal Consultant. All of these consultants will be paid
from the proceeds of the bonds; provided, however, that in the event no bonds are issued, the
Orange Redevelopment Agency will be responsible to pay the fees for services incurred by the
Fiscal Consultant.
Discussion
Councilmember Smith wanted to ensure that the list of potential projects was put into the record
for future reference.
Councilmember Bilodeau noted the list is not definite at this time, and would like to see the SR
55 Freeway included in the list.
Mayor Cavecche clarified with staff that Redevelopment funds can only be used for a project in a
Redevelopment area, but that a project outside an area may be eligible for a percentage of the
funds if it benefits a Redevelopment area. She also confirmed that there is approximately $23
million in the Redevelopment account.
MOTION - Smith
SECOND - Bilodeau
AYES - Smith, Murphy, Cavecche, Dumitru, Bilodeau
NOES - Cavecche
NOTE: Mayor Cavecche voted No because she noted there is approximately $23 million in the
Redevelopment account, and the city should not be going into debt any further.
MOVED TO:
1) Approve a Professional Services Agreement for Financial Advisory Services with Fieldman,
Rolapp & Associates, a California Corporation;
2) Approve an Attorney Services Agreement with Quint & Thimmig LLP, a California limited
liability partnership;
3) Approve an Attorney Services Agreement with Richards, Watson & Gershon, a Professional
Corporation;
PAGE 2
ORANGE REDEVELOPMENT AGENCY
November 13,2007
7. ADMINISTRATIVE REPORTS (Continued)
4) Approve a Consultant Services Agreement with HdL Coren & Cone, a California
Corporation; and
5) Authorize and direct the Chair of the Agency to execute, and the Agency Clerk to attest, the
aforementioned agreements on behalf of the Agency.
FISCAL IMP ACT: Payment of fees for all of the consultants, including reimbursable
expenses, will be contingent on, and payable from the proceeds of the Redevelopment bonds. In
the event no bonds are issued the Orange Redevelopment Agency will be responsible to pay the
fees for services ($24,000) incurred by the Fiscal Consultant from available Redevelopment
funds. There will be no impact to the City's general fund.
8. LEGAL AFFAIRS - None.
9. RECESS TO CLOSED SESSION
NOTE: The Agency did not recess.
a. To consider and take possible action upon such other matters as are orally announced by the
General Counsel, Executive Director of the Board of Directors prior to such recess unless the
motion to recess indicates any of the matters will not be considered in Closed Session.
10. ADJOURNMENT - The Agency adjourned at 4:55 p.m.
Declaration of the Clerk of the Orange Redevelopment Agency, Mary E. Murphy, declaring
posting of Orange Redevelopment Agency Agenda of a regular meeting of November 13, 2007 at
Orange Civic Center kiosk, Police facility at 1107 North Batavia, and the Main Public Library at
407 E. Chapman; all of said locations being in the City of Orange and freely accessible to
members of the public at least 72 hours before commencement of said regular meeting.
PAGE 3