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Home My WebLink AboutR02-Economic Development Agency o o o LIL ~ . o o JUWayALC)&"!mB;( COIwu.:n::AIi III.orBS SPBCIAL BD"X.... DeClUeI' 12. 1991 1:30 .... The Speci.l lIeet1n& of the Redevelopment CGaDittee vas called to order by Chdrpel'8on Bstrada at 1:45 a.II., in the Bconomic Development Aaency Board ROOll, 201 Korth "B" Street, Sen Bernardino. . 'DnT.T. f!.l.T.T_ Roll Call vas taken vith the follow1n& .embers beiDa present: CGaDittee lIember Jack Reilly, C~ttee Kember lIichael llauda18)O, Chainoman Bsther Bstrada. ........ -...... Tiaothy C. SteiDhaus, Adainiatrator, BconOllic Development Aaency; Eenneth J. Benderson, BzecuUve Director, Development Department; Stafford Parker, Deput:r Director, Development Department; Barbara Lindseth, AdlliniatraUve Services llanaaer, Development Department; Lorrdne Velarde, BzecuUve Aaaistent to the lIa:ror; Dennie Barlow, Senior Asaistent City Attorn.,.; Phil Arvizo, BzecuUve Aaaiatent to the Council; La Vonda Pearson, Act1n& Record1n& Secretary, Development Department. IWIIIrDR D &'rI'Inm.&1II'!R Kone. 1. .mao.u.c RIlVIrr.n~___I a~^.-YK..h_IK:"'" "'..'1\..___ _ on OP 0ftIRR noms AIIb BOIm PJM)1!If'Imtl AS O. DKaJlA.KII' 10... 1991 _ I!.lmr PLOW a..I~isIS r:laothy C. SteiDhau, A4II1niatrator, Bconomic Development Aaency, briefly expl.ined the format of the Cash Flow Anal;rsis Report for clarity. Bsrbara Lindseth, Administrative Services llanaaer, beain reviewiDa the report vith the CGaDittee as follovs: A. Central Cit7 Project Area lie. Lindaeth reviewed the cash in bank, revenues and expenditures. She commented that as development increases, the revenues viii increase also. She indicated as she projects revenue, she is very conservative. Councilllan Reilly lIentioned the Andreson Building being up for aucUon end questioned the effect it ..y have on the lease. snCIAL lmrir.llfti 1506C:Iap -1- bw!;v&LOPIIIIIr COIInr.ru DllCllhaaa 12. 1991 o o o ~ o o ChairwClllllUl Estrada had concema about the Aaency loanina money to project8 with fund8 belonaina to other project8. She felt the Commi88ion should be aware of all internal loans between projects. Di8cUS8ions ensued relardina the admini8trative C08t8, the 20X 8et-a8ide and the payment of 8alaries. B. State Colleae Project Area Ms. Lind8eth indicated this project is doina well in taz increment. She explained the ca8h on hand, revenue8 and expendi ture8. J:enneth J. Bender8on, becutive Director, Development Department, reviewed the Renovation of 5th and "D" Street8 and the purchase of the Pac Fed Buildina8. Chairwoman E8trada had que8tions relative to the taz increment on thi8 project. C. Central City .orth Project Area Ms. Lind8eth explained the Funda Beld by Fi8cal Aaent and the Fund8 Beld by the Aaency. She indicated this project area will run into a deficit in the 1991-1992 fi8cal year. Discu8dons ensued relardina the Sturle8 Auditori1llD Loan; who was re8ponsible for payments, and also the admini8trative c08t8 for the project. D. Central City Vat Project Area Ms. Lindseth stated this project is currently receivina taz increment 8Uahtly in exce88 of debt 8ervice. She 8aid each project is re8ponsible for its admini8trative C08tS 8uch a8 electrical and 8alarie8. B. Southeast Industrial Park Project Area Ms. Lind8eth indicated the taz increment for this project is lood. She reviewed the revenue8, expenditure8 and potential surplus for both the Fund. Beld by Fiscal Aaent and the Fund. Beld by Aaency. Chairwoman E8trada a8ked questions reaardina the South "B" Street Bridee, the funds u8ed for the Bridle, the use of taz increment ver8UB bond proceeds and a180 the effect that Borton Air Force Base would have on the Southea8t project. Di8cUS8ions ensued relative to Chairwoman E8trada8' que8tions and a180 the expansion of San Bernardino. SPBCUL IIIITIIG 1506C:1IIp - 2 - UuJ;YJU.C)PIIElft' CCRlIrrBB DBCBImb: 12, 1991 o o o .Jjj ~ o 0 rillot~ C. SteiDhans, Ada1niatratClr, Iconomic Deve1Cllllllent Agency, diacnsaed the CalifClrnia ledeve1Cllllllent Agency ..aClc1atlem (CIA) and their mcnrledae re.ardiDa ezpaDlliem Clf are... Be iD4icated they spemaClr seminara and cemferencea em that subject. F. Iforthveat Project Area Ma. Lindaeth dbcuased the revenuea and ezpenditurea Clf thia prClject. She indicated it viII receive a ICl&n froa State CClllege When the prCljected deficit Clccura, and that the deficit viII decrease aa the tax increment increaaes. CCluncilasn Maudaley qaeatiClned the San BernsrdinCl BClapital Guarantee Clf hl8,500, and if the funda had been paid fClr that ezpenditure. Eenneth J. Bendersem, Izecutlve DirectClr, Deye1Cllllllent Departllent, stated if the neceaaary iaprClvementa are co.plete by the end Clf the 1991-1992 fiacal year (Ii&hta, streeta, curba and auttera), the Agency v111 nClt be reapemaible fClr the ezpenditure. c:. Td-CU:y Project Area Ma. Lindaeth reyieved the caah in baDk, reyenuea and ezpenditurea. Diacnsaiema ensued re.ardiDa the Beagen Owner Participatiem Agreement (OPA) Cemtract and the Off Ismp Cematructlem prClject. B. Upt_ Project Area Ma. Lindaeth ezplained the caah em hsDd, reyenuea and ezpenditurea. ChsirvQaan latrada aaked qaeatiClU8 re.arding the Piemeer Cemetary Izpanaiem. Eenneth J. Bendersem, Izecuthe DirectClr, DevelCllllllent Departllent, indicated the cClata listed vere Clnly fClr Phase I Clf the prClject as approved by the C_ity DevelCllllllent C_baiem. I. South Valle Project Area Ma. Lindaeth dbcnsaed the caah em hsDd, revenuea and ezpenditures. She atated that a line Clf credit vaa .ranted by Wella FargCl fClr the PClrtugal & Real prClject. J. lit. Verncm Bns1neaa Corridor Ma. Lindaeth ezplalned the revenuea and ezpenditurea of thb prClject. She indicated the lit. Vernem Bnsineaa CClrridClr had nCl cash em hsDd and haa a negative balance. She atated thia prClject area vCluld receive a IClan froa SClutheaat Industrial Park. SPECIAL 1IIUl:.lJRi 1506C:bIp ItIIni;vJ5LOPIIIlft' COIIMIrrBI DlCDIBII 12, 1991 -3- "" o o o o o ~. IAwIllDcl BoulD& l'aa4 Ma. Lind..th dia_.ed the revenu.., expenditure. and b.bnce of this funcl. She .tat.d the caah flow ia approxiaately h million a year. Councilaan I.illy expr....d concern over the r.ce..ion and how it would .ffect the IDA. l'iaothy C. Ste1nhaue, Adainiatrator, Iconomic D.velopment Acency, indicat.d the Acency .hould car.fully pick and choo.e expenditures. S. .tat.d the Acency 0WI1II a lot of property and the plan ia to .tart aarketlD& the property by either .elling or dev.loping. St.fford Parker, Deputy Director, Developllent Departaent, eapha.ized the need for the Acency to aeet with the C_iaaion and conduct an inforaative workshop on the projecta of the Acency. It waa rec_ended that the California ledevelopment Acency (CIA) al.o be involved. ~ .......'.., . I oj II ., I) The ledevelopment C_ittee rec_ended thi. itea be brouaht to the COIIIII1D11ty Developllent C-ia.ion for approval with request to conduct workshop to diacue. the Cash Flow Analysia leport and the projects of the Acency . 2. I!r.ftSTm DP ftK .t:h.w:IC DWIn,'--.-I ..&m!'III!Y DlJRYWC ftIR 'IIIrRr 01' I!IIDTSftU.S Tillotb7 C. Ste1nhau., Adain1strator, Iconomic Development Acency, di.cu..ed the CloalD& of the Acency durlD& Chri.taa. week. Se explained the clo.ure would not coat the City aQ7 additional fund. and that it would allow tiae for the .prinlt1er sy.tem to be installed in the building. 4 ......I" ,I.~ II ., IJ, The ledevelopllent COIIIIittee recOllllended thi. item be brouaht to the COIIIII1D11ty Development C_ission for approval. 3. .an.'I0IJD' m l!I.ftfnm ".SIOR There w.re no it.... for di.cue.ion in Closed Session SPECIAL R&D:.lJRi lS06C::a..p _v!lLOl'IID1' COIwunu DlCIIIBII 12, 1991 -4- II o o o o o 4. '. '.1 J ~ ~ I oj ~ There beiDa no further buaine.., the ...Una of the Redevel01Jllent Committee vae adjourned at 11:40 p... to Deceaber 19, 1991. APPROVED BY: ..ther "trada, Cbai~ 184..,8101 "t c-lttee SPECIAL 1Iur.l5 1506C:1IIp -5- _YJILOPIIIIIr CO...u:n.u DB~ 12, 1991 't