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Home My WebLink About1992-03-16MINUTES HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY Council Chamber, City Hall Huntington Beach, California Monday, March 16, 1992 A videotape recording of this meeting is on file in the City Clerk's Office. Chairman Silva called the special meetings of the Huntington Beach Public Financing Authority to order at 7 p.m. PUBLIC FINANCING AUTHORITY ROLL CALL PRESENT: Robitaille, Moulton -Patterson, Winchell, Silva, Green, MacAllister, Kelly ABSENT: None JOINT MEETING - COUNCIL/REDEVELOPMENT AGENCY- PUBLIC FINANCING AUTHORITY ' Chairman Silva announced that a joint meeting of the City Council/Redevelop- ment Agency and the Huntington Beach Public Financing Authority had been called. The Secretary was directed to read the Call for Special Meeting. CALL FOR SPECIAL MEETING OF HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY Jim Silva, Chairman Earle Robitaille, Director Linda Moulton -Patterson, Director Grace Winchell, Director Peter Green, Director Don MacAllister, Director Jack Kelly, Director You are hereby notified that a Special Meeting of the Huntington Beach Public Financing Authority Board of Directors of the City of Huntington Beach, California, to meet jointly with the Huntington Beach City Council and Redevelopment Agency is called for and will be held in the Council Chamber of the Civic Center, at the hour of 7:00 P.M. on Monday, March 16, 1992 for the Page 2 - Council/Agency Minutes = 3/16/92 purpose of -adopting a resolution authorizing the sale of bonds (estimated net proceeds of $4,225,000) to be issued only if the refinancing bonds previously authorized (3/2/92) are not issued. (The refinancing bonds will not be issued unless the Agency saves at least $100,000 per year in debt service on the bonds being refinanced.) Dated: March 9, 1992 Chairman, Huntington Beach Public Financing Authority , ATTEST: CONNIE BROCKWAY, CITY CLERK Secretary I hereby certify that I received the above notice, "Call For Special Meeting of the Huntington Beach Public Financing Authority." prior to 7:00 P.M. on Sunday, March 15, 1992. Chairman, Huntington Beach Public Financing Authority PUBLIC HEARING - THIRD AMENDMENT TO DISPOSITION & DEVELOPMENT AGREEMENT - APPROVED - RES NOS 6357 & 223 - ADOPTED - ROBERT L. MAYER TRUST & WATERFRONT CONSTRUCTION NO. 1 - MAIN -PIER REDEVELOPMENT PROJECT AREA (600.30) The Mayor announced that this was the day and hour set for a public hearing for the purpose of considering approval of the Third Amendment to the Disposition and Development Agreement by and among the Redevelopment Agency of the City of Huntington Beach and Robert L. Mayer Trust and.Waterfront Construction No. 1. Legal notice as provided to the City Clerk's Office by staff had been published and posted. No communications or written protests were received on the matter. The City Administrator presented a staff report. The Mayor declared the public hearing open. There being no one present to speak on the matter and there being no protests filed, either oral or written, the hearing was closed by the Mayor. The City Clerk presented Council Resolution No. 6357 for Council adoption - "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON BEACH CONSENTING TO THE APPROVAL OF A THIRD AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, ROBERT L. MAYER, AS TRUSTEE OF THE ROBERT L. MAYER TRUST OF 1982, DATED JUNE 22, 1982, AS AMENDED, AND WATERFRONT CONSTRUCTION NO. 1, A CALIFORNIA LIMITED PARTNERSHIP, AND MAKING OTHER FINDINGS." Page 3 - Council/Agency Minutes _ 3/16/92 The Clerk -presented Agency Resolution No. 223 for Council adoption - "A RESOLUTION OF. THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING A THIRD AMENDMENT BY AND AMONG THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, ROBERT L. MAYER, AS TRUSTEE OF THE ROBERT L. MAYER TRUST OF 1982, DATED JUKE 22, 1982, AS. AMENDED, AND WATERFRONT CONSTRUCTION NO. 1, A CALIFORNIA LIMITED PARTNERSHIP, AND MAKING OTHER FINDINGS." A_motion was made by Green, seconded by MacAllister, to: 1. Adopt Council Resolution No. 057 and Agency Resolution No. 223, 2. Authorize Clerk/City Clerk and Chairman/Mayor (or designee) to execute Amendment No. 3 to the Disposition and Development Agreement between the Redevelopment Agency and Robert L. Mayer, Trustee of Robert L. Mayer Trust and Waterfront Construction No. 1. 3. Approve Notice of Exemption as environmental review of the proposed Disposition and Development Amendment. 4. Approve in concept the offer of J. P. Morgan Bank (underwriters for the Agency's refinancing bond issue) to make a temporary loan (up to 6 months) to the Agency of $4,300,000 (net loan) to be.used by the Agency to pay it's obligations under the amended DDA and direct staff to prepare appropriate loan documents for subsequent Agency approval. Loan to be repaid from proceeds of the Agency's refinancing bond issue as approved on March 2, 1992 The motion carried by the following roll call vote: AYES: Robitaille, Moulton -Patterson, Winchell, Silva, Green, MacAllister, Kelly NOES: None ABSENT: None ADJOURNMENT The Chairman adjourned the Special Meeting of the Huntington Beach Public Financing Authority. ATTEST: e Secretary S cry tary Chairman CITY OF HUNTINGTON BEACH 2000 MAIN STREET OFFICE OF THE CITY CLERK CONNIE BROCKWAY CITY CLERK CALL FOR SPECIAL MEETING OF HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY Jim Silva, Chairman Don MacAllister, Director Grace Winchell, Director Peter Green, Director Jack Kelly, Director Earle Robitaille, Director Linda Moulton -Patterson, Director Gentlemen: CALIFORNIA 92648 You are hereby notified that a Special Meeting of the Huntington Beach Public Financing Authority Board of Directors of the City of Huntington Beach, California, to meet jointly with the Huntington Beach City Council and Redevelopment Agency is called for and will be held in the Council Chamber of the Civic Center, at -the hour of 7:00 P.M. on Monday, Mar.ch.16, 1992 for the purpose of adopting a resolution authorizing the sale of bonds (estimated net proceeds of $4,225,000) to be issued only if the refinancing bonds previously authorized (3/2/92) are not issued. (The refinancing.bonds will not be issued unless the Agency saves at least $100,000 per year in debt service on the bonds being refinanced.) Dated: March 9, 1992 C man,.Huntington Beach Public Financing Authority ATYEST: CONNIE B OCKWAY, CITY CLERK Secretary -„ j hereby ce-rtify that I received the above notice, "Call For Special Meeting of-the:.Huntington Beach Public Financing Authority." prior to 7:00 P.M. on Sunday, March15, 1992. CAVFman, Huntington Beach Public Financing Authority 2564k ( Telephone: 714-536-5227 )