HomeMy WebLinkAbout08-24-1999 ORA MinutesApPROVED BY THE AGENCY BOARD ON SEPTEMBER 14, 1999
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING Augusl24, 1999
4:30 P.M. SESSION
The Orange Redevelopment Agency ofthe Ci1y of Orange, California convened on August 24,
1999 at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue,
Orange, California.
1. ROLLCALL
PRESENT -ABSENT -
Murphy, Slater,
Coontz, Spurgeon, Alvarez None 2.
PUBLIC
COMMENTS - None 3.CONSENT CALENDAR
Tape 3511 3.1 Declaration
of the Clerk of the Orange Redevelopment Agency, Cassandra J.Cathcart, declaring posting
of Orange Redevelopment Agency Agenda of a regular meeting of August
24, 1999 at Orange Civic Center, Main Library at 101 N. Center Street, Police facility
at 1107 North Batavia, 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 ofthe City Clerk.3.2
Request Agency confirmation of warrant registers dated August 5, 10 and 12, 1999.ACTION:Approved.
3.3
Request approval of Redevelopment Agency Minutes, Regular Meeting, August 10,1999.ACTION:
Approved.
REMOVED AND
HEARD SEPARATELY)3.4
First Time Homebuyer Program (4900 East Chapman Avenue #53 and 155 North Singingwood #32) (
RC2500.G.I.1)SUMMARY: Staff
requests the Agency Board approve the write-offs, for non-collection,
of two First Time Homebuyer Program loans in the amounts of$8,338.58 and $6,196.15.
FISCAL IMPACT: The revenue loss is:
John Voris Michael Hennessl:Y
Principal $8,338.58 Principal $6,196.15
913-0000-
829000-0000-
ORANGE REDEVELOPMENT AGENCY MINUTES August 24, 1999
3. CONSENT CALENDAR (Continued)
Discussion: Barbara DeNiro, (address on file), asked if there have been any previous
defaults like these? How many? Where does the Agency stand in the chain of collecting
its money?
The Assistant Executive Director explained the write-off's are lower in percentage
than most lending institutions that make First Time Homebuyer loans. Despite the fact
that the loans are for people who cannot obtain a program through their bank, there have
not been many defaults or losses. All possibilities of recovering the costs have
been exhausted. This year's budget allocated funds for the First Time Homebuyer
Program.The Program was found to be one of the housing programs that the citizens
most appreciated and was well used. Interest rates are lower than when the program
first started; the underwriting guidelines and the collateral remain the
same.Chairman Coontz asked how many First Time Homebuyer loans have been issued
since the program began? The Assistant Executive Director responded that she will
redistribute the information that was included in a previous agenda report and information to
provide a better understanding of the
program.MOTION - Slater
SECOND - Murphy AYES -
Murphy, Slater, Coontz, Spurgeon, Alvarez Moved to
authorize the Finance Department to remove the First Time Homebuyer Program loans
to John Voris and Michael Hennessey from loans receivable due to non-collection.MOTION -
Murphy
SECOND - Slater AYES -
Murphy, Slater, Coontz,
Spurgeon, Alvarez Item No. 3.4 was
removed and heard separately. The remainder of the Consent Calendar was 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 7.
ADMINISTRATIVE REPORTS - None 8. LEGAL AFFAIRS - None
PAGE 2
ORANGE REDEVELOPMENT AGENCY MINUTES August 24, 1999
9. RECESS TO CLOSED SESSION - (The Agency did not recess to Closed Session.)10.
ADJOURNMENT MOTION -
Murphy SECOND - Slater
AYES - Murphy, Slater,
Coontz, Spurgeon, Alvarez The Redevelopment Agency adjourned
at 6:30 p.m.a44AfAd2l'~di td-.-!t/'
AL.iZ CASSANDRAJ. ATHCART, CLERK OF THE
REDEVELOPMENT AGENCY OANNE
COONTZ, C OF THE
REDEVELOPMENT AGENCY PAGE
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