HomeMy WebLinkAbout02-25-1997 ORA MinutesAPPROVED BY THE AGENCY DIRECTORS ON MARCH 11, 1997
ORANGE REDEVELOPMENT AGENCY
MINUTES OF A REGULAR MEETING
ORANGE, CALIFORNIA
February 25, 1997
The Orange Redevelopment Agency of the City of Orange, California convened on February 25,1997 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. ROLLCALL
PRESENT
ABSENT
Murphy, Slater, Coontz, Spurgeon, Alvarez None
2.CONSENT
CALENDAR Tape 2445 2.1
Declaration of the Clerk of the Orange Redevelopment Agency, Cassandra J. Cathcart, declaring posting of
Orange Redevelopment Agency Agenda of regular meeting of February 25, 1997 at Orange Civic
Center, Main Library, the Police Facility at 1107 N. Batavia and the Eisenhower Park Bulletin
Board and summarized on Time Warner Communications; 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.ACTION: Accepted
Declaration of Agency Posting and authorized its retention as a public record in
the Office of the Agency Clerk.2.2
RequestAgency confirmation of warrant registers dated February 7 and 11, 1997.ACTION: Approved.
2.3
Approve Redevelopment Agency Minutes, Regular Meeting of February 11,1997.ACTION: Approved.
2.4
Request the Agency Directors accept Mike Alvarez, Director, disclosure of direct and indirect financial interests
in property located within the City's Redevelopment Project Area. Property interests are
as follows: 131 S. Glassell, 154 S. Cypress, 138-152 Olive St., 2188 N. Batavia St.,707
Angus Ave., 360 S. Glassell St., 2222 E. Wilson Ave., 2905 E. Katella, 541 W. Chapman,1167
E. Chapman and 60 Plaza Square.ACTION:
Approved.MOTION
SECOND
AYES
Slater
Alvarez Murphy,
Slater, Coontz,
Spurgeon, Alvarez The Consent Calendar items
were approved as recommended.END OF CONSENT CALENDAR
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ORANGE REDEVELOPMENT AGENCY MINUTES February 25, 1997
3. REPORTS FROM DIRECTORS - None 4.
REPORTS FROM BOARDS, COMMITTEES AND COMMISSIONS - None 5. ADMINISTRATIVE
REPORTS - None 6.REPORTS FROM
EXECUTIVE DIRECTOR Tape 2465 6.1 Report
from the Executive Director on the Second Quarter Budget status and mid-year budget adjustments. (
RC2500.J.1.1)The Director
of Economic Development explained how the Redevelopment Agency budget consists of funds which
have money with different restrictions, rules and regulations. Each expenditure is paid from the
fund that qualifies for that type of money, and some fund transfers need to be made in order to balance the
individual funds. The adjustments requested are as follows:1. Transfer $
951,021 from Tustin Operations Fund 910 to Northwest Operations Fund 930 and transfer $127,
375 from Southwest Operations Fund 920 to Northwest Operations Fund 930 to reallocate prior
year expenditures.2. Transfer $
2, III ,285 from Southwest Tax Exempt Fund 926 to Southwest Operations Fund 920 and
transfer $202,178 from Northwest Tax Exempt Fund 934 to Northwest Operations Fund 930
to reallocate eligible capital project expenditures to tax exempt bond proceed funds.3.
Transfer $
1,000,000 from Northwest Taxable Bond proceeds Fund 936 to the Northwest Debt Service
Fund 984 to mitigate increment shortfalL In response
to questions raised by Councilman Alvarez, the Director of Economic Development explained that
the Agency wants to invest tax-exempt money in projects that are eligible for that kind of money.
The tax-exempt bonds are the most restrictive and difficult to use. The budget for previous
years was reviewed with the City Treasurer in order to find projects that are eligible for tax-exempt
bond money. Projects in prior years were paid for with tax increment money, which is more flexible
and easier to use. The County has granted a large portion of property tax appeals which lowers the
property tax bill. The top ofthe property tax bill is what is allocated to the Agency. It was indicated that
the Agency will increase their involvement on the County level to either cut down, stop, or mitigate
the damage from the appeals. Every agreement has a clause that the business cannot appeal their
property tax evaluation without Agency
approvaL Bob Bennyhoff, 10642 Morada Drive, Orange Park Acres, commented it is refreshing to know
how much money is in
redevelopment.
MOTION
SECOND
AYES Mayor Coontz
Murphy Murphy,
Slater, Coontz, Spurgeon, Alvarez Moved to
approve the recommended transfer of funds.7. LEGAL
AFFAIRS - None 8. ORAL PRESENTATIONS -
None
ORANGE REDEVELOPMENT AGENCY MINUTES February 25, 1997
9. ADJOURNMENT
MOTION
SECOND
AYES
Murphy Mayor
Coontz Murphy, Slater,
Coontz, Spurgeon, Alvarez The Redevelopment Agency
adjourned at 6:03 p.m.l~L4d AS
SANDRA J.
C HCART, CMC, CLERK OF THE REDEVELOPMENT
AGENCY 1/ ! /I .L--
C:Ctf-f,i7;-JO C. COONTZ, CHAIRM~
OF/THE REDEVELOPMENT AGENCY
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