CRA 2001-01-22MINUTES OFA REGULAR MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
January 22, 2001
Agency Chairperson McGill called the meeting of the Cypress Redevelopment Agency
to order at 8:52 p.m. in the Council Chambers, 5275 Orange Avenue, Cypress,
California.
PRESENT:
Agency Board Members Keenan, McCoy, Pieroy, Agency Vice
Chairperson Sondhi, Agency Chairperson McGill
ABSENT: None
Also present were Executive Director Importuna, Agency Counsel Wynder, and staff
members Acosta, Commerdinger, DeCarlo, Hensley, Liu, Sinn, and Storey.
Item No. 19: EXECUTION OF PROMISSORY NOTES BETWEEN CITY AND TH[:
CYPRESS REDEVELOPMENT AGENCY.
Agency Counsel stated the Redevelopment Agency would need to take two actions,
with part one being a motion by the Agency to authorize the Executive Director to enter
into that portion of the repayment agreement insofar as it applies to Lighting District No.
2 and the Civic Center Project Area, and to authorize the Chairman of the Agency to
execute Promissory Note LD3.
It was moved by Agency Board Member Keenan and seconded by Agency Board
Member Piercy, to: 1) Authorize the Executive Director to enter into that portion of the
repayment agreement as it applies to Lighting District No. 2 and the Civic Center Project
area; and 2) Authorize the Chairperson of the Agency to Executive Promissory Note
LD3.
The motion was unanimously carried by the following roll call vote:
AYES:
NOES:
ABSENT:
5 AGENCY MEMBERS: Keenan, McCoy, Piercy, Sondhi, and McGill
0 AGENCY MEMBERS: None
0 AGENCY MEMBERS: None
Agency Counsel stated the second action needed from the remaining eligible members
of the Redevelopment Agency would be a motion to authorize the Chairperson of the
Agency to execute the remaining portion of the repayment agreement, and to execute
Note LART7 as they apply to that portion of the transaction between the Agency, the
City, and with respect to the Los Alamitos Race Track and Golf Course Project Area.
It was moved by Agency Board Member Keenan and seconded by Agency Board
Member Piercy, to: 1) Authorize the Chairman of the Agency to execute that portion of
the repayment agreement; and 2) Execute Note LART7, as they apply to the transaction
between the Agency, the City, and with respect to the Los Alamitos Race Track and
Golf Course Project Area.
The motion was carried by the following roll call vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
4 AGENCY MEMBERS: Keenan, McCoy, Piercy, and McGill
0 AGENCY MEMBERS: None
0 AGENCY MEMBERS: None
I AGENCY MEMBERS: Sondhi
Agency Vice Chairperson Sondhi did not participate in this action due to her ownership
of property in proximity to the project area.
CYPRESS REDEVELOPMENT AGENCY JANUARY 22, 2001
ADJOURNMENT: Agency Chairperson McGill adjourned the meeting at 8:58 p.m.
CHAIRPERSON OF THE CYPRESS
REDEVELOPMENT AGENCY
ATTEST:
~'~CRETA~,Y OF T.~I~ CYPRESS
~REDEVELOPMENI~GENCY
2