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1993/10/12 Community Development Agency Minutes COMvLJITY DEVELOPMENT AGENCY OF THE CITY OF ROHNERT PARK MINUTES October 12, 1993 The Members of the Community Development Agency of the City of Rohnert Park met this date immediately after the City Council meeting at approximately 9:34 p.m. in the City Offices, 6750 Commerce Boulevard, Rohnert Park, with Chairperson Hollingsworth presiding. Call to Order-Chairperson Hollingsworth called the meeting of the Community Development Agency of the City of Rohnert Park to order at approximately 9:27 p.m. Roll Call Present: (5) Agency Members Eck, Gallagher, Reilly, Spiro and Chairperson Hollingsworth Absent: (0) None Staff present for all or part of the meeting : Executive Director/City Manager Netter, Assistant to the City Manager Leivo, Director of Public Works/City Engineer Brust and Finance Director Harrow and City Attorney Flitner. Approval Upon motion by Agency Member Reilly, seconded by Agency Member of Gallagher, the minutes of September 28, 1993 were unanimously Minutes approved as submitted with abstention by Agency Member Spiro due to absence from the meeting. Approval Upon motion by Agency Member Reilly, seconded by Agency of Member Gallagher, the bills presented per attached list in the Bills amount of $79,564.27 were unanimously approved. 'cknowledging xec.Dir.Sec. The Executive Director/Secretary's report on the posting of the Report agenda was acknowledged. scheduled Chairperson Hollingsworth stated that in compliance with State Public Law, (The Brown Act) , anyone in the audience who wished to make a ••-arances comment may do so at this time. No one responded. WA Bond Issue and Capital Projects Priorities: Executive Director Netter said this item was carried over from the previous Council meeting in order to provide time for staff to present other options to secure funding for the U. S. Highway 101/Rohnert Park Expressway overcrossinq improvements. The staff reports offer three potential options for single loop at $1.5 million, double loop at $2 million and ultimate project at $5 million. Staff recommends consideration of the interim project of the single loop at $1.5 million or double loop at $2 million since the ultimate project at $5 million would be a tremendous drain on City project funds for a project that would eventually be funded by the State. COMMUNITY DEVELOPMENT AGENCY/CITY OF ROHNERT PARK MINIJI'ES (2) October 12, 1993 Executive Director Netter introduced Bond Counsel Bill Madison of Jones Hall Hill and White to respond to Agency questions and who has reviewed the matter extensively with staff. W. Netter said, based on the conclusions of this review, staff recommends not doing the bond issue to transfer City/CDA loan to bond indebtedness. Discussion followed during which Bond Counsel Bill Madison responded to various Agency questions including confirmation that he did not think the transfer would prevent the State efforts to obtain funds. Councilwoman Gallagher said she thought that the long term loss of not doing the overpass improvements would exceed the loss incurred from proceeding with the loan transfer to bond indebtedness. A motion was made by Councilman Eck, seconded by Councilman Reilly, not to proceed with the bond issue to transfer City/CDA loan to bond indebtedness because it does not guarantee the safety of the money from the State, was approved by the following vote: AYES: (4) Agency Members Eck, Reilly, Spiro and Chairman Hollingsworth NOES: (1) Agency Member Gallagher ABSENT: (0) None Chairman Hollingsworth said he agreed with the need to address the issue of the Expressway overpass improvements but did not think the bond issue was the way to address it. Further discussion ensued during which Executive Director Netter, City Attorney Flitner and Director of Public Works/City Engineer Brust responded to Agency questions pertaining to funding possibilities for capital projects such as MIC and ISTEA funds, as well as possibilities of looking into doing a benefit assessment district. Discussion concluded in Council concurrence of directing staff to review possibilities for an assessment district and prepare a recommendation for Agency consideration. One idea was to plan for the double loop but complete the project in two phases with the first loop from local funding and the second loop from ISTEA funds. Unscheduled Public Chairperson Hollingsworth asked if anyone in the audience wished Appearances to make an appearance at this time. No one responded. Adjournment There being no further business, Chairperson Hollingsworth adjourned the meeting at approximately 9:54 p.m. 12q De Sec t Chairperson jh