1996/01/09 Community Development Commission Minutes Community Development Commission
of
The City of Rohnert Park Minutes
January 9, 1996
The Members of the Community Development Commission of the City of
Rohnert Park met this date during the City Council meeting at approximately
10:52 p.m. in the City Offices, 6750 Commerce Boulevard, Rohnert Park, with
Chairman Flores presiding.
CALL TO ORDER: Chairman Flores called the Community Development Commission to order at
approximately 10:52 p.m.
ROLL CALL Present: (5) Commission Members Eck, Gallagher, Reilly, Spiro and
Chairman Flores
Absent: (0) None
Staff present for all or part of the meeting: Executive Director/City Manager
Netter, City Attorney Flitner, Assistant City Manager Leivo, and Director of
Public Works/City Engineer Brust.
APPROVAL OF MINUTES: Upon motion by Commission Member Reilly, seconded by Commission
Member Eck, minutes of December 12, 1995 were unanimously approved as
submitted.
APPROVAL OF BILLS: Upon motion by Commission Member Reilly, seconded by Commission
Member Eck, the bills presented per the attached list in the amount of
$20,897.61 were unanimously approved.
ACKNOWLEDGING EXECUTIVE DIRECTOR/SECRETARY'S REPORT:
The Executive Director/Secretary's report on the posting of the agenda was
acknowledged.
UNSCHEDULED PUBLIC APPEARANCES: Chairman Flores stated that in compliance with State
Law (The Brown Act), citizens wishing to make a comment may do so at this time.
Community Development Commission of the City of Rohnert Park Minutes ( 2 ) January 9, 1996
RANCHO FELIZ MOBILE HOME PARK PURCHASE matters:
1. Review of final numbers re. Bond Issue -- This report was provided for informational purposes.
Executive Director Netter reviewed this item indicating the issue was under funded
and was short in excess of $146,000. This was mainly due to last minute
requirements from FSA for a Capital Replacement Reserve in the amount of
$161,630. Mr. Netter responded to Commission questions. Copy of the report is
attached to the original set of these minutes.
2. Ratify loan payment of $85,000 from CDC Housing funds to Rohnert Park Housing Financing
Authority (Escrow) for closing -- Explanation of this item was included in above-
referenced staff report.
Upon motion by Commission Member Eck, seconded by Commission Member
Reilly, ratification of above-reviewed loan payment in the amount of$85,000 from
CDC Housing funds to Rohnert Park Housing Financing Authority escrow closing,
was unanimously approved, with the understanding formal loan documents and
resolution will be prepared for the next CDC meeting agenda.
ADJOURNMENT: There being no further business, Chairman Flores adjourned the meeting at
approximately 10:57 p.m.
De y S etary / / Chairperson
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FINANCIAL SECURITY ASSURANCE
MEMORANDUM
TO: Phil Hoon - Sutro & Co. via fax: 415-392-1753
FROM: Dana Mayo '—
RE: $[14,800,000] Rohnert Park Housing Financing Authority
1995 Revenue Bonds(Rancho Feliz Mobile Home Park Acquisition)
DATE: November 15, 1995
I just received EMG's property condition survey_ HMG has recommended the following
immediate repairs.
Item Action Cost
Roadways, asphalt East section Reconstruct/Repair $113,434
Concrete pad at Basketball Courts Reconstruct/Repair $1,090
Approach Aprons Reconstruct with Pipes $8,506
Tennis and Basketball Courts Resurface $8,000
Signage (lot numbering) Replace $600
Fencing (South Property line) Replace $30.000
Total $161,630
EMG's ongoing capital replacement reserve number is not yet final however it will not
exceed the $135 per space per year figure that is currently in the documents. Therefore I
have instructed Pat Burdyny to Ieave the capital reserve number at $135.
Also could you please fax me a current sources and uses of funds and a set of bond
cashflows. For the sources and uses please (i) use $384,000 as the estimated FSA up
front fee(actual fee will be calculated tomorrow when the discount rate is determined) and
(ii) include $8,500 for ESA's out-of-pocket expenses.
cc Bryan Townsend
Arturo Suarez
Pat Brudyny-Kutak(402-346-1148)
x4vevotecrswrn+.40.
NOV 16 '95 06:24 2123393547 PAGE.02