CRA 90-06-25 MINUTES OF A MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
June 25, 1990
Agency Chairman Age called the meeting of the Cypress Redevelopment Agency to
order at 10:11 p.m. on Monday, June 25, 1990 in the Cypress City Council
Chambers, 5275 Orange Avenue, Cypress, California.
PRESENT:Agency Members Arnold, Bowman, Kanel, Kerry and Age
ABSENT: None
MINUTES: It was moved by Agency Member Arnold and seconded by Agency Member
Kerry to approve the minutes of June 11, 1990. The motion carried by the
following roll call vote:
AYES:4 AGENCY MEMBERS: Arnold, Bowman, Kerry and Age
NOES:0 AGENCY MEMBERS: None
ABSENT:0 AGENCY MEMBERS: None
ABSTAINED:1 AGENCY MEMBERS: Kanel
Agency Member Kane] abstained due to his absence at the June 11, 1990 meeting.
CONSIDERATION OF THE ADOPTION OF THE 1990-91 BUDGET FOR THE CYPRESS
REDEVELOPMENT AGENCY: The Executive Director presented the staff report dated
June 6, 1990, which indicated that the proposed budget, with total
expenditures of $598,150, has been reviewed with the Planning Director, the
City Manager and the City Council at the June 4, 1990 budget workshop. The
Agency will coordinate the master planning of the Cypress Elementary School
site and the Wicker Drive properties.
It was moved by Agency Member Bowman and seconded by Agency Member Arnold that
the City Council, acting as the Cypress Redevelopment Agency, adopt the 1990-
91 Agency Budget. The motion unanimously carried by the following roll call
vote:
AYES:5 AGENCY MEMBERS: Arnold, Bowman, Kanel, Kerry and Age
NOES:0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
CONSIDERATION OF ADDITIONAL APPROPRIATION IN THE LOW/MODERATE HOUSING FUND AND
TRANSFER OF REDEVELOPMENT FUNDS TO THE REDEVELOPMENT AGENCY'S LOW/MODERATE
HOUSING FUND: The Executive Director summarized the staff report dated June
15, 1990, which indicated that money is available from the Redevelopment
Agency to loan to the Low/Moderate Fund to eliminate the cash deficit of
$50,000. Since no appropriation was formally presented to the Agency,
approval of the total expenditures of $92,000 is also required.
It was moved by Agency Member Bowman and seconded by Agency Member Kerry to
authorize the loan transfer of $50,000 from the Agency's unrestricted fund
balance to the Agency's Low/Moderate fund and authorize an appropriation from
the Low/Moderate Fund's balance in the amount of $92,000 to Account #4297-36-
196-06. The motion unanimously carried by the following roll call vote:
AYES:5 AGENCY MEMBERS: Arnold, Bowman, Kanel, Kerry and Age
NOES:0 AGENCY MEMBERS: None
ABSENT:0 AGENCY MEMBERS: None
ADJOURNMENT: Agency Chairman Age adjourned the meeting at 10:13 p.m.
RMAN OF THE CYPRESS-R
REDEVELOPMENT AGENCY
ATTEST:
SECRE1%kY'OF THt-CYPR-@REDEVELOPMENT
AGENCY