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CRA 99-11-22MINUTES OF A REGULAR MEETING OF THE CYPRESS REDEVELOPMENT AGENCY HELD November 22, 1999 Agency Chairperson Keenan called the meeting of the Cypress Redevelopment Agency to order at 7:45 p.m., in the Council Chambers, 5275 Orange Avenue, Cypress, California. PRESENT: Agency Members McCOy, MCGilI, Sondhi, Agency Vice-Chairperson PiercV, Agency Chairperson Keenan. ABSENT: None AlSO present were Interim Executive Director Storey, Agency A~Eorney Wynder, and staffmembers Hensley, Angus, LiU, Sinn and DeCarlo. PUBLIC HEARINGS: 16. Public Hearing Regarding Approval and Adoption of the Cypress Redevelopment Agency's Updated Five-Year Implementation Plan. AliCe Angus, Deputy Executive Director, presented staff's report regarding this item. Mrs. Angus began by introducing Ida RUiz, the new RedevelopmentJEconomic Development Manager, to the Councilmembers. Ms. Ruiz was welcomed by the Mayor and members of the City Council. MrS. Angus reported that several years ago legislation had been enacted mandating that redevelopment goals and objectives be updated by municipalities every five years. The Redevelopment Plan currently in place will be effective through December of this year, after which time a revised plan will be required. Mrs. AngUS reminded the council that the goals and objectives of the current Redevelopment Plan were reviewed at a previous City Council workshop. At that time, those goals were revised and refined, and the changes indicated will be included in the new Redevelopment plan. Many of those changes focused on the area of housing. Twenty-percent (20%) of the monies earned by a Redevelopment Agency must be directed to the provision or preservation of affordable housing. In response to a question posed by the Agency Chairperson, Mrs. Angus explained that residential uses were included in the Lincoln Avenue Specific Plan because, according to studies that had been completed, there was a strong market for this type of use in the area. She said this tied in well with the redevelopment obligation to address housing issues in a project area. FOllOwing staff's presentation, Agency Chairperson Keenan opened the public hearing for this item, and asked if anyone wished to come forward and speak on this plan. NO comments were offered, and the Mayor closed the public hearing. A motion was made by Agency Vice Chairperson Piercy and seconded by Agency Member McGill that the City COunCil adopt the Resolution by title only, title as follows: Resolution No. CRA-84 A Resolution of the Cypress Redevelopment Agency Adopting an Updated Implementation Plan for Its Amended Civic Center Redevelopment Project Area, Lincoln Avenue Redevelopment Project Area, and Los Alamitos Golf Course and Race Track Project Area The motion was carried by the following roll call vote: AYES: NOES: ABSENT: 5 AGENCY MEMBERS: 0 AGENCY MEMBERS: 0 AGENCY MEMBERS: MCCOy, McGilI, Sondhi, Piercy, Keenan None None CYPRESS REDEVELOPMENT AGENCY NOVEMBER 22, 1999 Following this action, the Agency Chairperson recessed the meeting at 8:02 p.m. The meeting was reconvened at 8:05 p.m. MINUTES: It was moved by Agency Vice-Chairperson Piercy and seconded by Agency Chairperson Sondhi, to approve the minutes of the meetings of September 13, 1999 and November 1, 1999. The motion was carried by the following roll call vote: AYES: NOES: ABSENT: 5 AGENCY MEMBERS: 0 AGENCY MEMBERS: 0 AGENCY MEMBER: McCoy, McGilI, Sondhi, Piercy, Keenan None None 19. Acceptance of Component Unit Financial Report of the Cypress Redevelopment Agency for the Period Ended June 30, 1999. Staff's report for this item was presented by Interim Executive Director Storey. Mr. Storey advised that an independent audit had been performed by Caporicci, Cropper & Larson, CPAS, for the entire City, of which the Redevelopment Agency portion had been excerpted. The Agency Chairperson asked how the auditing firm performed. Mr. Storey responded that the audit was done to the City's satisfaction. He stated the only deficiency was the City had been led to believe one of the partners would be present to perform the audit, which was not the case. The audit had, in fact, been conducted under the direction of a manager of the firm. Mr. StoreV provided an elucidation of the Redevelopment Agency's long-term debt, as outlined in the staff report, in response to a request from Agency Member McGilI. A motion was made by Agency Member McGill, seconded by Agency Member MCCOy and carried by the following roll call vote that the Cypress Redevelopment Agency receive and file the Cypress Redevelopment Agency Component Unit Financial RepOrt for the period ended June 30, 1999: AYES: NOES: ABSENT: 5 AGENCY MEMBERS: 0 AGENCY MEMBERS: 0 AGENCY MEMBERS: MCCOy, MCGilI, Sondhi, Piercy, Keenan None None ADJOURNMENT: A]'rEST: Agency Chairperson Keenan adjourned the meeting at 8:11 p.m. CHAIRPERSON OF THE CYPRESS REDEVELOPMENT AGENCY CYPRESS REDEVELOPMENT AGENCY