HomeMy WebLinkAboutRA Minutes 2009-11-16SRRA MINUTES (Regular) 11-16-2009 Page 1
IN THE COUNCIL CHAMBER OF THE CITY OF SAN RAFAEL, MONDAY, NOVEMBER 16, 2009 AT 7:30 PM
Regular Meeting:
San Rafael Redevelopment Agency
Also Present: Ken Nordhoff, Executive Director
Robert F. Epstein, Agency Attorney
Esther C. Beirne, Agency Secretary
OPEN SESSION — COUNCIL CHAMBER — 7:00 PM
None.
Present: Albert J. Boro, Chairman
Greg Brockbank, Member
Damon Connolly, Member
Cyr N. Miller, Member
Absent:
CLOSED SESSION — CONFERENCE ROOM 201 — 7:00 PM
None.
ORAL COMMUNICATIONS OF AN URGENCY NATURE:
Barbara Heller, Vice -Chair
8:11 PM
Member Miller moved and Member Brockbank seconded, to approve the following Consent Calendar items:
CONSENT CALENDAR:
ALL MATTERS ON THE CONSENT CALENDAR ARE TO BE
APPROVED BY ONE MOTION, UNLESS SEPARATE ACTION IS
REQUIRED ON A PARTICULAR ITEM:
Approval of Minutes of Regular Redevelopment Agency Meeting
of November 2, 2009
2. Monthly Investment Report for Month Ending October, 2009
(Fin) — File R-123
RECOMMENDED ACTION:
APPROVAL OF THE FOLLOWING
ACTION:
Approved as submitted.
Accepted Monthly Investment Report
for October, 2009, as presented.
3. Minutes of Citizens Advisory Committee on Redevelopment Accepted report.
Meeting of October 1, 2009 (RA) — File R-1401VB
AYES: MEMBERS: Brockbank, Connolly, Miller & Chairman Boro
NOES: MEMBERS: None
ABSENT: MEMBERS: Heller
OTHER AGENDA ITEMS:
4. APPROVAL OF SIXTH SUPPLEMENTAL RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO
EXCEED $16,000,000 PRINCIPAL AMOUNT OF CENTRAL SAN RAFAEL REDEVELOPMENT PROJECT
TAX ALLOCATION REFUNDING BONDS, SERIES 2009 (RA) R-312 - 2009
Nancy Mackle, Economic Development Director, stated that this item was a refunding of Agency bonds. Due to a
fiscal agreement with the other taxing agencies, the Agency was limited in the funds it could claim for bonded
indebtedness; however, the Agency could refinance to take advantage of the lower interest rates to raise funds.
Ms. Mackle hoped to raise $500,000 or more which would help with Agency projects. Steve Melikian from Jones
Hall, the Agency's Bond Counsel, and Eric Scriven, underwriter for De La Rosa were present and could answer
questions. She commented that this was similar to what had been done in 2002. This highly qualified team
worked with staff to work with the rating agencies and she reported that Standard and Poor's Credit Market
Services gave the San Rafael Redevelopment Agency the highest rating in the state of California.
Member Brockbank moved and Member Connolly seconded, to adopt the Resolution.
SRRA MINUTES (Regular) 11-16-2009 Page 1
RESOLUTION NO. 2009-17 — SIXTH SUPPLEMENTAL RESOLUTION AUTHORIZING THE ISSUANCE OF
NOT TO EXCEED $16,000,000 PRINCIPAL AMOUNT OF CENTRAL SAN
RAFAEL REDEVELOPMENT PROJECT TAX ALLOCATION REFUNDING
BONDS, SERIES 2009
AYES: MEMBERS: Brockbank, Connolly, Miller & Chairman Boro
NOES: MEMBERS: None
ABSENT: MEMBERS: Heller
AGENCY MEMBER REPORTS:
5. Downtown Events: - File R-181 x R-140#8
Ms. Mackie issued a reminder that the Annual Parade of Lights and Winter Wonderland would take place
downtown on Friday, November 27 and Saturday, November 28, 2009.
There being no further business, the San Rafael Redevelopment Agency meeting was adjourned at 8:13 PM.
ESTHER C. BEIRNE, Agency Secretary
SRRA MINUTES (Regular) 11-16-2009 Page 2