1994/08/23 Community Development Agency Minutes COMMUNITY DEVELOPMENT AGENCY
OF
THE CITY OF ROHNERT PARK MINUTES
August 23 , 1994
The Members of the Conmun i ty Development Agency of
the City of Rohnert Park met this date in regular
session commencing at approximately 7: 33 p.m. in
the City Offices, 6750 Commerce Boulevard, Rohnert
Park , with Chairman Reilly presiding.
Call to Order - Chairman Reilly called the meeting of the Community
Development Agency of the City of Rohnert Park to
order at approximately 7: 33 p.m.
Roll Call Present : ( 5 ) Agency Members Eck , Gallagher, Spiro
Hollingsworth, and Chairman Reilly
ABSENT: (0) None
Staff present for all or part of the meeting:
Executive Director Netter, City Attorney Flitner,
Assistant Executive Director Leivo, Director of
Public Works/City Engineer Brust, and Finance
Director Harrow.
Approval of Minutes Upon motion by Agency Member Hollingsworth,
seconded by Agency Member Gallagher, the minutes of
August 9, 1994 were unanimously approved as
submitted.
Approval of Bills Upon motion by Agency Member Gallagher, seconded by
Agency Member Hollingsworth, CDA bills presented
per the attached list in the amount of $104,935 . 25
were unanimously approved.
Posting of the The Executive Director/Secretary' s report on
the p
Agenda posting of the agenda was acknowledged.
Unscheduled Public Chairman Reilly stated that in compliance with
State
Appearances Law (The Brown Act ) ,
wished to make a comment may do soe at thistime e
No one responded.
The Gardens Project of Burbank Housing Development Corporation -
Executive Director Netter reviewed the staff report
which recommended option 2 , Agency loan to Burbank
Housing. Assistant Executive Director Leivo
answered questions from Agency Members.
Motion Proposed Upon a motion by Agency Member Eck , seconded by
Agency Member Spiro, an Agency loan would be
extended to Burbank Housing using the assets of
Burbank Housing as collateral . The proceeds of the
Community Development Agency Minutes August 23 , 1994
Page 2
loan would be invested as equity in The Garde]
Project .
Discussion by Agency Members continued. Ni(
Stewart , Burbank Housing, answered questions fr+
Agency Members regarding assets , operating fund:
nonprofit status , distribution of tax credits
investors, the history of Burbank Housi:
management of affordability projects, and terms
a thirty year note. The City of Petaluma has
similar project scenario and accepted Burba
Housing assets as collateral .
Action on the Agency member Eck proposed an amendment to t
motion
Motion that the City Attorney must review and approve t
loan agreement with Burbank Housing prior
signing. The maker and second of the moti
accepted the amendment . The amended motion w
approved unanimously.
1994-95 Budget Executive Director Netter reviewed the propos
budget and answered questions from Agency Member
Agency Member Eck requested that CDA figui
appearing in the General Fund be more clear
noted. Finance Director Harrow noted that t
property tax increment increases approximately t
percent each year.
Chairman Reilly opened the public hearing at 7 :
p.m. As there was no one desiring to be heard,
closed the public hearing at 7 : 58 p.m.
Resolution No. 9 4-10, A RESOLUTION OF THE COMMUNITY DEVELOPMENT AGE
OF THE CITY OF ROHNERT PARK APPROVING A BUDGET
FISCAL YEAR 1994-95 .
MOTION Upon a motion by Agency Member Hollingswor
seconded by Agency Member Spiro, and unanimou
approved, Resolution No. 94-10 approving a bud.
for fiscal year 1994-95 for the Conmun
Development Agency of the City of Rohnert Park
approved as submitted.
Resolution No. 94-11 , A RESOLUTION AUTHORIZING APPLICATION
REALLOCATION OF MORTGAGE CREDIT CERTIFIC
AUTHORITY AND EXECUTION OF AN AMENDMENT TO
COOPERATIVE AGREEMENT REGARDING THE MORTGAGE CR,
CERTIFICATE PROGRAM BETWEEN THE COMM
DEVELOPMENT AGENCY OF THE CITY OF ROHNERT PARK
THE SONOMA COUNTY COM4UNITY DEVELOPMENT COMMISSII
Community Development Agency Minutes
August 23 , 1994
Page 3
Resolution No. 94-12 , A RESOLUTION AUTHORIZING EXECUTION OF AN
AGREEMENT REGARDING THE CONTINUED USE OF MORTGAGE
CREDIT CERTIFICATES IN THE CITY OF ROHNERT PARK AND
THE CONTINUED ADMINISTRATION OF THE PROGRAM BY THE
SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION.
Assistant Director Leivo reviewed the two
resolutions and answered questions from Agency
Members.
MOTION Upon a motion byAgency A enc Member Hollingsworth,
seconded by Agency Member Eck, and unanimously
approved, the reading of Resolution No. 94-11 and
Resolution No. 94-12 was waived and the resolutions
were adopted as submitted.
Adjournment There being no further business, Chairman Reilly
adjourned the meeting at approximately 8: 03 p.m.
Secretary1/ I
C airper n