HomeMy WebLinkAbout10_9_2007 - ORA MinutesAPPROVED BY THE DIRECTORS ON OCTOBER 23, 2007
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING October 9, 2007
The Orange Redevelopment Agency of the City of Orange, California convened on October 9,
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.3.1 Request
Agency confirmation of warrant registers dated September 6 and 13, 2007.ACTION:Approved.3.
2 Request
approval of Redevelopment Agency Minutes, Regular Meeting of September 25, 2007. (
RC2500.D.4)ACTION:Approved.MOTION -
SECOND -AYES
Dumitru Murphy
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
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ORANGE REDEVELOPMENT AGENCY MINUTES October 9,2007
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.Staff requested a continuance of this item to November
27,2007.MOTION -
Murphy SECOND - Smith
AYES - Smith, Murphy, Cavecche, Dumitru, Bilodeau Moved
to continue to November 27,2007.8.
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.Pa2:e
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ORANGE REDEVELOPMENT AGENCY MINUTES October 9,2007
10. ADJOURNMENT - The Agency adjourned at 7:05 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 October 9, 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.HE
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