CRA 2003-11-10MINUTES OFA REGULAR MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
November 10, 2003
Agency Chairperson McCoy called the meeting of the Cypress Redevelopment Agency
to order at 8:02 p.m. in the Council Chambers, 5275 Orange Avenue, Cypress,
California.
PRESENT:
Agency Board Members McGill, Sondhi, Agency Vice Chairperson
Keenan, Agency Chairperson McCoy
ABSENT:
Agency Board Member Piercy
Also present were Executive Director, City Attorney, Deputy Executive Director, Agency
Treasurer, Public Works Director, Chief of Police, Recreation and Community Services
Superintendent, Assistant Community Development Director, Administrative Services
Manager, and Agency Secretary.
It was moved by Agency Vice Chair Keenan and seconded by Agency Board Member
Sondhi, to approve Consent Calendar Item No. 17.
The motion was unanimously carried by the following roll call vote:
AYES:
NOES:
ABSENT:
4 AGENCY MEMBERS: McGill, Sondhi, Keenan and McCoy
0 AGENCY MEMBERS: None
1 AGENCY MEMBERS: Piercy
Consent Calendar:
Item No. 17: EXECUTION OF PROMISSORY NOTES BETWEEN THE CYPRESP,
REDEVELOPMENT AGENCY AND THE CITY OF CYPRESS.
Recommendation: That the Cypress Redevelopment Agency Board authorize Agency
staff to execute the Repayment Agreement and two Promissory Notes (Exhibit "B") in
the amount of $10,600,000 with the City of Cypress, with the repayment to the City
being made from future tax increments or other available project area revenue sources.
END OF CONSENT CALENDAR
ADJOURNMENT: Agency Chairperson McCoy adjourned the meeting at 8:15 p.m.
CHAIRPERSON OF THE CYE~SS
REDEVELOPMENT AGENCY
ATTEST:
~/CRETARY OF"'THI~ ~YPRESS
REDEVELOPMENT Ai~iENCY