HomeMy WebLinkAbout6_25_2002 - ORA MinutesAPPROVED BY DIRECTORS ON JULY 9, 2002
ORANGE REDEVELOPMENT AGENCY ORANGE, CALIFORNIA
MINUTES OF A REGULAR MEETING June 25, 2002
4:30 P.M. SESSION
The Orange Redevelopment Agency of the City of Orange, California convened on June 25,
2002 at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue,
Orange, California.
1. ROLLCALL
PRESENT - Slater, Alvarez, Chairman Murphy, Coontz, Cavecche ABSENT -
None 2. PUBLIC
COMMENTS - None.3. CONSENT CALENDAR
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 June
25, 2002 at Orange Civic Center, Main Library at 101 N. Center Street, Police facility
at 1107 North Batavia, Shaffer Park, 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 June 6 and 13, 2002 .ACTION:Approved,
3.3
Request approval of Redevelopment Agency Minutes, Regular Meeting, June 11,2002.ACTION:
Approved.
AGREEMENTS 3.
4
Approval of a Reimbursement Agreement between the City of Orange and the Orange Redevelopment
Agency for FY 2002-03. (RA2100.0 AGR-3283.C)
SUMMARY: The Reimbursement Agreement between the City and Agency will create
indebtedness which will enable the Agency to utilize tax increment revenue instead of
bond proceeds to pay for operational costs. This will free up bond proceeds for loans or
projects.
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ORANGE REDEVELOPMENT AGENCY MINUTES June 25, 2002
3. CONSENT CALENDAR (Continued)
ACTION: Approved the Reimbursement Agreement between the City of Orange and
Orange Redevelopment Agency, and authorized the Chairman to execute, and the
Agency Clerk to attest, the Agreement on behalf of the Agency.
FISCAL IMP ACT: There is no net fiscal impact on either the City or Agency budget.
Interest paid by the Agency on the loan will be offset equally by interest earned by the
Agency on the loan proceeds. There are sufficient tax increment revenues and other
funds available to repay this loan.
See City Council Minutes Item No. 3.11)
RESOLUTIONS
3.5 RESOLUTION NO. ORA-0412 (RC2500.G.1.
4)A Resolution of the Orange Redevelopment Agency confirming and renewing the
Mobile Home Park Rental Assistance Program for qualified very low income mobile home
park residents of the City of Orange for FY 2002-03 and making certain findings
in
connection therewith.
ACTION:
Approved,
MOTION
SECOND AYES
Slater Coontz
Slater, Alvarez, Chairman Murphy, Coontz, Cavecche 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 2 T'
ORANGE REDEVELOPMENT AGENCY MINUTES June 25, 2002
7.ADMINISTRATIVE REPORTS TAPE 1880
7.1 Appropriation of funds to provide financial assistance to Orange Housing
Development Corporation for the acquisition and management of the Mobile Ritz Lodge
Mobile Home Park located at 300 W. Lincoln Avenue, Orange. (RC2500.G.l)
SUMMARY: Orange Housing Development Corporation (OHDC) is requesting financial
assistance for the proposed acquisition of the Mobile Ritz Lodge Mobile Home Park, 300 W.
Lincoln Ave" Orange, CA. As part of the acquisition, a Loan and Grant Agreement between the
Agency and OHDC will be executed that will include a provision requiring the rents for 50% of
the coaches and spaces to be affordable. Therefore, with the acquisition of the mobile home
park, 40 units will be added to the City's affordable housing inventory.
Discussion
Vice Chairman Alvarez asked how the Agency benefits from the revenue bonds and how the set
aside funds will come back to the Agency.
The Senior Housing Manager, explained that OHDC is the recipient of the bond issue and that
repayment of the loan will be made through annual payments back to the Agency based on
annual receipts.
Director Cavecche stated there are some old units in the Park, but it is an exciting area of town to
be revitalized and hoped OHDC will utilize some great new products for this project.
Director Coontz sated this park is very well maintained and spoke on the importance of
affordable housing for the City.
MOTION - Slater SECOND -
Murphy AYES - Slater,
Alvarez, Chairman Murphy, Coontz, Cavecche ACTION: 1) Appropriated $
1,800,000 in the FY 2002-03 Budget Housing Set Aside funds to Account No.
941-9800-485701-9878 (Merged and Amended Housing Fund - Rehab
Development Loans - Mobile Ritz Project) for the project; 2) Directed Agency staff to prepare a Loan
and Grant Agreement between the Agency and OHDC which will be submitted to the Board
for consideration at a later date,FISCAL
IMP ACT: Housing Set-Aside funds are available for this purpose in the above listed
account. The total purchase price cost is $5.4 million (total acquisition cost is $6.4 million),
which OHDC will fund through the issuance of approximately $4.6 million in revenue bonds and
1.8 million in financial assistance from the Agency.
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ORANGE REDEVELOPMENT AGENCY MINUTES June 25, 2002
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,10.
ADJOURNMENT MOTION -
Slater SECOND - Murphy
AYES - Slater, Alvarez,
Chairman Murphy, Coontz, Cavecche The Agency adjourned at
5:45 p.m.4M~ Ctt/~/~?f CASSANDRA
ATHCART, CLERK OF
THE REDEVELOPMENT AGENCY
tiJtl HAIRMAN MENTAGENCY MARKA.
MURP
OF
THE
REDEVEL PAGE
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