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CRA 92-02-10 MINUTES OF A MEETING OF THE CYPRESS REDEVELOPMENT AGENCY HELD February 10, 1992 Agency Chairman Partin called the meeting of the Cypress Redevelopment Agency to order at 12:12 a.m. on Tuesday, February 11, 1992 in the Cypress City Council Chamber, 5275 Orange Avenue, Cypress, California. PRESENT:Agency Members Age, Bowman, Kerry, Nicholson and Partin ABSENT: None MINUTES: It was moved by Agency Member Bowman and seconded by Agency Member Kerry to approve the Minutes of January 27, 1992. The motion unanimously carried by the following roll call vote: AYES:5 AGENCY MEMBERS: Age, Bowman, Kerry, Nicholson and Partin NOES:0 AGENCY MEMBERS: None ABSENT: 0 AGENCY MEMBERS: None CONSIDERATION OF ACQUISITION OF ERSKINE PROPERTY - CIVIC CENTER REDEVELOPMENT AGENCY: The Agency Chairman referred to the Executive Director to present the staff report dated January 29, 1992. He stated that this issue was reviewed with the City Council several times during negotiations with the property owner and this action finalizes the proposal for the acquisition of the Erskine property. In response to Agency Member Bowman, the Public Works Director advised that staff is requiring the ALTA Survey to ensure that the improvements are within the property that we are acquiring and to obtain a map of the subject property. He further requested that the Account No. in Recommendation 2 and 3 be corrected to read 4176-35-407-24. The Agency Attorney advised that in the recommendation when it refers to the City Manager, that should be corrected to read "Executive Director". It was moved by Agency Member Bowman and seconded by Agency Member Kerry to: 1) Authorize the Executive Director to negotiate a fee for an ALTA Survey of the property; 2) Appropriate $5,000.00 from the Civic Center Redevelopment Agency fund balance to Account No. 4176-35-407-24 to cover the cost of the survey; 3) Appropriate $896,745.00 from the Civic Center Redevelopment Agency fund balance to Account No. 4176-35-407-24 to cover the costs of purchase and escrow fees; and 4) Authorize the Executive Director to execute the purchase of the subject property, in accordance with the escrow instructions. The motion unanimously carried by the following roll call vote: AYES:5 AGENCY MEMBERS: Age, Bowman, Kerry, Nicholson and Partin NOES:0 AGENCY MEMBERS: None ABSENT:0 AGENCY MEMBERS: None ADJOURNMENT: Agency Chairman Partin adjourned the meeting at 12:14 a.m.