HomeMy WebLinkAbout07-22-1997 ORA MinutesAPPROVED BY THE AGENCY BOARD ON AUGUST 12, 1997
ORANGE REDEVELOPMENT AGENCY
MINUTES OF A REGULAR MEETING
ORANGE, CALIFORNIA
July 22, 1997
The Orange Redevelopment Agency of the City of Orange, California convened on July 22, 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 2.
1 Declaration of the Clerk ofthe Orange Redevelopment Agency, Cassandra J. Cathcart, declaring posting
of Orange Redevelopment Agency Agenda of regular meeting of July 22, 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 Request Agency confirmation of warrant registers dated July 8, 11 and 17, 1997.ACTION:
Approved.2.
3Approve Redevelopment Agency Minutes, Regular Meeting of July 8, 1997.ACTION:
Approved.MOTION
SECOND
AYES
Slater
Murphy Murphy,
Slater, Coontz,
Spurgeon, Alvarez All items on the
Consent Calendar were approved as recommended.END OF CONSENT CALENDAR
3. REPORTS FROM DIRECTORS -
None 4. REPORTS FROM BOARDS, COMMITTEES
AND COMMISSIONS - None PAGE 1
ORANGE REDEVELOPMENT AGENCY MINUTES July 22, 1997
5. ADMINISTRATIVE REPORTS
5.1 Request Agency Board of Directors approve a six-month period in which low interest
loans under the Tustin Street Loan and Grant Program may be repaid at a discounted amount
through the reduction of the principal
balances.The Director of Economic Development presented the staff report. (Agenda Report on file in the
City Clerk's
office).FISCAL IMPACT: Reinvestment of the discounted principal amounts for a term equal to the
remaining term of the original loans at a higher interest rate would result in the Agency realizing greater returns
to those under the present loan
agreements.
MOTION
SECOND
AYES Spurgeon
Alvarez Murphy,
Slater, Coontz, Spurgeon, Alvarez ACTION: Approved
and authorized the Executive Director and Agency Clerk to execute documentation to accept
discounted loan repayments on an individual project basis.6. REPORTS
FROM EXECUTIVE DIRECTOR - None 7. LEGAL AFFAIRS -
None 8. ORAL PRESENTATIONS - None
9. ADJOURNMENT MOTION- Coontz SECOND-
Murphy AYES -
Murphy, Slater,
Coontz, Spurgeon,
Alvarez The Redevelopment Agency adjourned at 6:
20 p.m.CASSANDRA J. THCART, CMC, CLERK OF
THE REDEVE OPMENT AGENCY COONTZ,
CHAI THE REDEVELOPME PAGE 2
I .