HomeMy Public PortalAboutM 1984-01-03 - LRAC) (;R
REGULAR MEETING JANUARY 3, 1984
The Lynwood Redevelopment Agency met in a regular session
in the City Hall, 11330 Bullis Road, on above date at 9:32
p.m.
Chairman Morris in the chair.
Members Byork, Henning, Rowe, Thompson and Morris answered
the roll call.
Also present were Executive Director Gomez and General
Counsel Yeager.
RES LRA 84 -1 RESOLUTION NO. LRA 84 -1 entitled: "A RESOLUTION OF THE
Demands REDEVELOPMENT AGENCY OF THE CITY OF LYNWOOD, CALIFORNIA
1 -3 -84 ALLOWING AND APPROVING THE DEMANDS AND ORDERING WARRANTS
DRAWN THEREFOR." was presented. It was moved by Mr. Thompson,
seconded by Mr. Byork, that the resolution be adopted.
ROLL CALL
Ayes: Members Byork, Henning, Rowe, Thompson, Morris
Noes; None
Absent: None
BOUNDARIES The City Attorney stated in 1980 the Project "A: boundaries
Amended were amended to include virtually all the City's commercial
Project "A" and industrial areas, especially along the major boulevards.
Depending upon the final configuration of the Commercial
Center Site, the Agency may require aaditional monies to
finance completion of site acquisition and off -site improve-
ments. In addition, other proposed redevelopment projects
(Lewis Homes and St. Francis projects) as well as, future
projects in other locations throughout Project Area "A" will
require the Agency's financial participation. In discussions
with Agency bond consultants and Agency counsel, it appears
that the existing flow of tax increment revenue can support
an additional sale of approximately $2,000,000 in tax
allocation bonds. Approval of a resolution authorizing is-
suance of tax allocation bonds is the first step in the bond
issue process, and the resolution allows counsel to begin
proceedings to validate the bond issue does not in and of
itself commit the Agency to sell bonds. After discussion
by general consent, the Agency withdrew Item No. 3, second
Tax Allocation Bond Issue, and directed staff to prepare a
resolution authorizing the issuance of tax allocation bonds
to be presented to the Agency at its next meeting of
January 17, 1984.
MINUTE ORDER By minute order, the Agency agreed to allow the exclusive
Rollins negotiation agreement to expire, and to authorize staff to
Ex. Negotia- reissue a Request for Proposal /Qualifications to developers
tion Agmt including Mr. Rollins, should he choose to reapply, to
select a qualified developer for development of a shopping
center acceptable to the Agency and which meets the eligibility
criteria to secure urban development action grant (UDAG)
funding. Staff is to return with a list of developers for
the Agency's perusal at the next meeting.
It was moved by Mr. Byork, seconded by Mr. Henning, and
carried that the meeting be adjourned to the next regular
meeting of January 17, 1984, in the Council Chambers,
11330 Bullis Road, Lynwood, CA
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Secretary
APPROVED FEBRUARY 7, 1984
Chairman