CRA 92-07-13 MINUTES OF A MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
July 13, 1992
Agency Chairman Partin called the meeting of the Cypress
Redevelopment Agency to order at 12:40 a.m. on Monday, July 13,
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 June 22, 1992. The
motion unanimously carried by the following roll call vote:
I
AYES:5 AGENCY MEMBERS: Age, Bowman, Kerry, Nicholson
and Partin
NOES:0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
CONSIDERATION OF ADDITIONAL APPROPRIATION FOR REDEVELOPMENT
SERVICES - FISCAL YEAR 1991-92: The Deputy Executive Director
presented the staff report dated July 7, 1992, which indicated
that with the creation of three separate redevelopment project
areas, the redevelopment budget has now been allocated into
separate funds for each project area and for housing. This
created the need for funds to be appropriated into the three
project areas. Additionally, it has been determined by the
Agency Attorney that the Settlement Agreement with Cypress
Development regarding the City of Los Alamitos may be considered
a debt of the Cypress Redevelopment Agency.
It was moved by Agency Member Kerry and seconded by Agency Member
Age to recommend that the Cypress Redevelopment Agency Board
appropriate for fiscal year 1991-92 the following from the
unreserved fund balance of the redevelopment fund
4189-35-194.06 Professional Services $24,000
Civic Center Project Area
4189-37-195.06 Professional Services $18,000
Lincoln Avenue Project Area
4189-36-196.06 Professional Services $10,000
Low/Moderate Housing Set Aside
4189-38-197.06 Professional Services $18,000
Los Alamitos Race Track and
Golf Course Project Area
4211-38-197.06 Professional Services ' $140,000
Los Alamitos Race Track and
Golf Course Project Area
Responding to Councilmember Bowman, the Agency Treasurer replied
$140,000 litigation expense was to reimburse Cypress Development
ADJOURNMENT: Agency Chairman Partin adjourned the meeting at
12:45 a.m.
CHAIRMAN OF THE CYPRESS
REDEVELOPMENT AGENCY
ATTEST:
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