CRA 2009-03-23 MINUTES OF A REGULAR MEETING OF THE
CYPRESS REDEVELOPMENT AGENCY
HELD
March 23, 2009
Agency Chair Bailey called the meeting of the Cypress Redevelopment Agency to order
at 5:02 p.m. in the Executive Board Room, 5275 Orange Avenue, Cypress, California.
Members present:
Mayor/Agency Chair Doug Bailey
Mayor Pro Tem/Agency Vice Chair Prakash Narain
Council/Agency Board Member Phil Luebben
Council/Agency Board Member Leroy Mills
Council/Agency Board Member Todd Seymore
Staff present:
City Manager John Bahorski
City Attorney William Wynder
Assistant City Manager/Director of Finance and Administrative Services Richard Storey
Director of Community Development Ted Commerdinger
Chief of Police Mark Yokoyama
Public Works Director Doug Dancs
Recreation and Community Services Director June Liu
Administrative Services Manager Andrew Tse
City Clerk Denise Basham
Consent Calendar:
I
It was moved by Agency Board Member Luebben and seconded by Agency Board
Member Seymore, that the Redevelopment Agency approve Consent Calendar Item
No. 10.
The motion was unanimously carried by the following roll call vote:
AYES: 5 AGENCY MEMBERS: Luebben, Mills, Seymore, Narain and Bailey
NOES: 0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
Item No. 10: EXECUTION OF PROMISSORY NOTE BETWEEN THE CYPRESS
REDEVELOPMENT AGENCY AND THE CITY OF CYPRESS.
Recommendation: That the Cypress Redevelopment Agency Board: 1) Authorize
Cypress Redevelopment Agency staff to execute the Repayment Agreement and
Promissory Note (Exhibit "B") in the amount of $42,500,000 with the City of Cypress;
and 2) Increase FY 2008-09 appropriations in the Cypress Redevelopment Agency's
Debt Service Funds by the following:
Civic Center Project Area (Interest - 4275-52-363-15) $525,000
Lincoln Avenue Project Area (Interest - 4275-53-364-15) $105,000
Los Alamitos Race Track Project Area (Interest - 4275-54-365-15) $1,612,500
ADJOURNMENT: Agency Chairperson Bailey adjourned the meeting at 7:51 p.m.
H ER O HE CYPRESS
REDEYE OPMENT AGENCY
ATTEST:
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SECRETARY OF THE CYPRESS
REDEVELOPMENT AGENCY