HomeMy WebLinkAboutRA Minutes 2007-03-05SRRA MINUTES (Regular) 03/05/2007 Page I
IN THE COUNCIL CHAMBER OF THE CITY OF SAN RAFAEL, MONDAY, MARCH 5, 2007 AT 7:30 PM
Regular Meeting:
San Rafael Redevelopment Agency
Also Present: Ken Nordhoff, Executive Director
Gary T. Ragghianti, Agency Attorney
Jeanne M. Leoncini, Agency Secretary
CLOSED SESSION — CONFERENCE ROOM 201
None
Present: Albert J. Boro, Chairman
Paul M. Cohen, Vice -Chair
Barbara Heller, Member
Cyr N. Miller, Member
Gary O. Phillips, Member
Absent: None
ORAL COMMUNICATIONS OF AN URGENCY NATURE: 8:06 PM
None
CONSENT CALENDAR:
Member Miller moved and Member Phillips seconded, to approve the following Consent Calendar items:
ITEM
Approval of Minutes of Regular Meeting of Tuesday,
February 20, 2007 (AS)
2. Resolution Pertaining to the Compensation and Working
Conditions of the Economic Development Director
(effective July 1, 2006 - June 30, 2009) (MS) —
File R-58 x (SRCC) 7-3
3. Resolution Authorizing Economic Development Director to
Amend the Existing Contract with Beltran Maintenance for
the Downtown Farmers' Market through October 31, 2007,
in an Amount Not to Exceed $7,000.00 (RA) —
File R-452 x R-181 x R-140#8
4. Resolution Approving and Authorizing the Executive
Director to Execute an Agreement Between the San Rafael
Redevelopment Agency and Maze and Associates to
Provide Auditing Services for the Fiscal Years Ending June
30, 2007 Through June 30, 2010, with Options for the
Fiscal Years Ending June 30, 2011 and June 30, 2012 (Fin)
— File R- 469 x (SRCC) 4-3-463 x 8-9
RECOMMENDED ACTION
Minutes approved as submitted.
RESOLUTION NO. 2007-04 —
RESOLUTION PERTAINING TO THE
SALARY RANGE FOR THE ECONOMIC
DEVELOPMENT DIRECTOR
RESOLUTION NO. 2007-05 —
RESOLUTION AUTHORIZING AN
AMENDMENT TO THE EXISTING
CONTRACT WITH BELTRAN
MAINTENANCE FOR FARMERS'
MARKET SERVICES THROUGH
OCTOBER 31, 2007, IN AN AMOUNT
NOT TO EXCEED $7,000
RESOLUTION NO. 2007-06 —
RESOLUTION APPROVING AND
AUTHORIZING THE EXECUTIVE
DIRECTOR TO EXECUTE AN
AGREEMENT WITH MAZE AND
ASSOCIATES, TO PROVIDE AUDITING
SERVICES FOR THE FISCAL YEARS
ENDING JUNE 30, 2007 THROUGH
JUNE 30, 2010, WITH OPTIONS FOR
THE FISCAL YEARS ENDING JUNE
30, 2011 AND JUNE 30, 2012
SRRA MINUTES (Regular) 03/05/2007 Page 1
SRRA MINUTES (Regular) 03/05/2007 Page 2
AYES: MEMBERS: Cohen, Heller, Miller, Phillips and Chairman Boro
NOES: MEMBERS: None
ABSENT: MEMBERS: None
ABSTAINING: MEMBERS: Heller and Phillips from item #1 only, due to absence from meeting.
AGENCY CONSIDERATION:
5. RESOLUTION OF THE SAN RAFAEL REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE,
EXECUTION, AND DELIVERY OF MULTIFAMILY HOUSING REVENUE BONDS, AUTHORIZING THE
EXECUTION AND DELIVERY OF A MASTER PLEDGE AND ASSIGNMENT, A MASTER AGENCY
AGREEMENT, REGULATORY AGREEMENTS AND DECLARATION OF RESTRICTIVE COVENANTS
AND OTHER DOCUMENTS RELATING THERETO, AND APPROVING OTHER ACTIONS AND MATTERS
RELATING THERETO, ALL WITH RESPECT TO MARTINELLI HOUSE (1327 LINCOLN AVENUE) (RA) —
FILE R-467 x R-173
Economic Development Coordinator Stephanie Lovette explained that this was a $6 million bond
issuance for Martinelli House which would be doing rehabilitation on the property. The Agency would
also be providing them an already approved loan of $100,000.
Ms. Lovette reported that these types of bond issuances are used primarily for affordable housing. They
are not an obligation of the City, Agency or the State of California, as stated clearly in the bond
documents.
Indicating that the bonds were expected to close at the end of March, Ms. Lovette stated that the actual
transfer of the real estate to the new partnership and the rehabilitation would not commence until May.
She stated that the Agency's money, given that it is for rehabilitation, would also not be put into the
transaction until May, as some time was needed to clean up some issues with HUD.
Ms. Lovette stated that Attorney Steve Melikian of Jones Hall, was present should there be questions.
Chairman Boro confirmed with Ms. Lovette that this was a conduit bond, which allowed a lower interest
rate. Ms. Lovette indicated that City Bank was the purchaser of the bonds and the Letter of Credit
investor had not yet been identified; however, this was being worked on.
Member Phillips moved and Member Heller seconded, to adopt the Resolution.
RESOLUTION NO. 2007-07 — RESOLUTION AUTHORIZING THE ISSUANCE, EXECUTION AND
DELIVERY OF MULTIFAMILY HOUSING REVENUE BONDS,
AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER
PLEDGE AND ASSIGNMENT, A MASTER AGENCY AGREEMENT,
REGULATORY AGREEMENTS AND DECLARATION OF RESTRICTIVE
COVENANTS AND OTHER DOCUMENTS RELATING THERETO, AND
APPROVING OTHER ACTIONS AND MATTERS RELATING THERETO,
ALL WITH RESPECT TO MARTINELLI HOUSE
AYES: MEMBERS: Cohen, Heller, Miller, Phillips and Chairman Boro
NOES: MEMBERS: None
ABSENT: MEMBERS: None
AGENCY MEMBER REPORTS:
6. None
There being no further business, the San Rafael Redevelopment Agency meeting was adjourned at 8:35 PM.
JEANNE M. LEONCINI, Agency Secretary
SRRA MINUTES (Regular) 03/05/2007 Page 2