HomeMy WebLinkAbout02-18-1992 ORA MinutesORANGE REDEVELOPMENT AGENCY
MIl'.TUTES OF A REGULAR MEETING
ORANGE, CALIFORNIA
FEBRUARY 18, 1992
The Orange Redevelopment Agency of the City of Orange, California convened this 18th day of
February, 1992 a1 3:00 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman
A venue, Orange, California.
3:00 P.M. SESSION.
1. ROLLCALL
PRESENT - Steiner, Barrera, Coontz, Spurgeon ABSENT -
Chairman Beyer 1.1
APPROVAL OF MINUTES - None 2. CONSENT CALENDAR
2.1 Declaration
of the Clerk of the Orange Redevelopment Agency, Marilyn J.Jensen, declaring posting
of Orange Redevelopment Agency Agenda of regular meeting of February
18, 1992, at Orange Civic Center, Main Library, the Police Facility at 1107
N. Batavia and the Eisenhower Park Bulletin Board; 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 Agenda Posting and authorized its retention as a public
record in the Office of the Agency Clerk.2.2 Approve
to appoint the firm of Mudge Rose Guthrie Alexander & Ferdon to serve as Bond
Counsel for the purpose of the refunding of Tustin Street Project Area $7,000,
000.00 Taxable Notes, Fee not to exceed $18,700.00. (RA2100.0 A.1914)ACTION:
Approved.2.
3 Request
authorization to approve First Time Homebuyer Loan; and authorize City Treasurer to
prepare a Check in the amount of $20,300.00, Case No. 306.C2500.G.l
First Time Homebuyer)MOTION SECOND AYES
Spurgeon
Coontz
Steiner,
Barrera, Coontz,
Spurgeon
PAGEl
ORANGE REDEVELOPMENT AGENCY MINUTES FEBRUARY 18, 1992
2. CONSENT CALENDAR (Continued)
All items on the Consent Calendar were approved as recommended.
END OF CONSENT CALENDAR
5. ADMINISTRATIVE REPORTS
5.1 Report regarding a First Time Homebuyer Program Request for Subordination
of Agency Deed of Trust, Case #114. (C2500.G.l)
The Agency Administrator reported a letter has been received from the Applicant of
Case #114. This is a request to refinance an existing First Time Homebuyer Loan. Staff
is asking the Agency Board if they wish to allow refinancing of this program and if so,
make that declaration. Staff will then follow up with the Economic Development
Commitee on any necessary procedural changes.
Secondly, Staff is asking Agency to consider this application, because it is the only
person with a payment subsidy. The Applicant has indicated he will return the unused
portion of the subsidy and pay back the used portion at the time of refinance or sale or
transfer of title. If the Agency wishes to proceed with the refinancing of all past loans,
do they wish to allow the repayment of this subsidy on this particular loan?
The Agency felt this should be allowed, as long as the sole purpose of the refinance was
to lower payments, and not to take money out, which would defeat the purpose of the
First Time Homebuyer Loans.
MOTION
SECOND
AYES
ABSENT
Spurgeon
Steiner Steiner,
Barrera, Coontz, Spurgeon Chairman Beyer
Moved to direct
Staff to amend the First Time Homebuyers Program to allow refinancing of first
Deed of Trust, with conditions as recommended by Staff.MOTION SECOND AYES
ABSENT
Coontz
Steiner
Steiner,
Barrera, Coontz,
Spurgeon Chairman
Beyer Moved to approve the
request for subordination
of Agency Deed of Trust, Case #114.PAGE 2
ORANGE REDEVELOPMENT AGENCY MINUTES FEBRUARY 18, 1992
8. ORAL PRESENTATIONS - None RECESS
The
Orange Redevelopment Agency recessed at 4:00 p.m. to a Closed Session for the following
purposes:a.
To confer with its attorney regarding potential litigation pursuant to Government
Code Section 54956.9(b)(l).b.
To consider and take possible action upon such other matters as are orally announced
by the General Counsel, Executive Director of Agency Members prior
to such recess unless the motion to recess indicates any of the matters will not
be considered in closed session.c.
To confer with its attorney to decide whether to initiate litigation pursuant to
Government Code Section 54956.9(c).ADJOURNMENT
MOTION
SECOND
AYES
ABSENT
Barrera
Spurgeon Steiner,
Barrera,
Coontz, Spurgeon Chairman Beyer The
Orange Redevelopment Agency
adjourned at 5:40 p.m.PAGE 3