HomeMy WebLinkAbout2008-05-13 - MINUTES - SCRDA (2)MINUTES OF REGULAR MEETING
CITY OF SANTA CLARITA
REDEVELOPMENT AGENCY
MAY 13, 2008
CALL TO ORDER
Chair Kellar called the meeting of the Redevelopment Agency to order at 9:02 p.m.
ROLL CALL
All Agency Members were present.
PUBLIC PARTICIPATION
There was none.
APPROVAL OF MINUTES
Motion by McLean, second by Weste, to approve the minutes of the April 22, 2008
regular meeting as submitted.
Hearing no objections, it was so ordered.
SCRDA 1
JOINT CONSENT CALENDAR
LOAN FROM CITY TO REDEVELOPMENT AGENCY AND REFINANCING AND
CONSOLIDATION OF EXISTING LOANS FROM CITY TO REDEVELOPMENT AGENCY
INTO ONE NOTE AND APPROVAL OF LOAN AGREEMENT
Pursuant to California Community Redevelopment Law, the City of Santa Clarita has loaned
funds to the City of Santa Clarita Redevelopment Agency since 1994 until present for
administrative purposes and to fund redevelopment projects of the Agency.
Motion by Weste, second by Ferry, to take the following actions:
City Council: adopt Resolution No. 08-36 making a loan to the Redevelopment
Agency, approving the refinancing and consolidation of existing loans to the
Redevelopment Agency, and approving the execution of a loan agreement related
thereto.
Redevelopment Agency: adopt Resolution No. RDA 08-4 of the Agency accepting a
loan from the City, authorizing the refinancing and consolidation of existing loans
from the City of Santa Clarita, and approving the execution of a loan agreement
and note related thereto.
On roll call vote:
Ayes: Ender, Weste, Ferry, McLean, Kellar
Noes: None
Absent: None
Motion carried.
SCRDA 2
JOINT NEW BUSINESS
PROPOSED ISSUANCE BY THE CITY OF SANTA CLARITA REDEVELOPMENT
AGENCY OF ITS TAX ALLOCATION BONDS, SERIES 2008 (NEWHALL
REDEVELOPMENT PROJECT) IN A PRINCIPAL AMOUNT NOT TO EXCEED $35
MILLION, AND ITS HOUSING SET-ASIDE TAX ALLOCATION BONDS, SERIES 2008, IN
AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $12 MILLION
Darren Herndndez, Deputy City Manager and Director of Administrative Services, advised that
pursuant to California Community Redevelopment Law (codified in Part 1 of Division 24 of the
California Health and Safety Code) (the "Redevelopment Law"), it is proposed that the City of
Santa Clarita Redevelopment Agency (the "Agency") issue its first bond issues secured by tax
increment in the Newhall Redevelopment Project Area (the "Project Area").
No requests to speak were submitted on this item.
Motion by Weste, second by Ferry, to take the following actions:
City Council: adopt the following resolutions: Resolution No. 08-37 of the City
Council approving the issuance, sale, and delivery by the City of Santa Clarita
Redevelopment Agency of its Tax Allocation Bonds, Series 2008 (Newhall
Redevelopment Project Area); and Resolution No. 08-38 of the City Council
approving the issuance, sale, and delivery by the City of Santa Clarita
Redevelopment Agency of its Housing Set -Aside Tax Allocation Bonds, Series 2008.
Redevelopment Agency: adopt the following resolutions: Resolution No. RDA 08-5
of the Agency authorizing the issuance, sale, and delivery of the Agency's Tax
Allocation Bonds, Series 2008; approving the execution and delivery of an
Indenture, Sale Documents, and a Continuing Disclosure Agreement; approving the
Form of a Preliminary Official Statement; and authorizing certain other actions in
connection therewith; and Resolution No. RDA 08-6 authorizing the issuance, sale,
and delivery of the Agency's Housing Set -Aside Tax Allocation Bonds, Series 2008;
approving the execution and delivery of a Housing Indenture, Sale Documents, and
a Continuing Disclosure Agreement; approving the Form of a Preliminary Official
Statement; and authorizing certain other actions in connection therewith.
On roll call vote:
Ayes: Weste, Ferry, McLean, Ender, Kellar
Noes: None
Absent: None
Motion carried.
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May 13, 2008 2
7
1
ADJOURN SANTA CLARITA REDEVELOPMENT AGENCY
Chair Kellar adjourned the meeting at 9:01 p.m.
C AIR
ATTEST:
SECRETARY
08MayI3rdam doc
May 13, 2008