HomeMy Public PortalAboutMinutes - 1992/10/06 - Regular1
TEMPLE CITY REDEVELOPMENT AGENCY
MINUTES
OCTOBER 6, 1992
INITIATION:
1. CALL TO ORDER
Pursuant to the Agenda posted October 2, 1992, Chairman McGowan called the meeting of the
Temple City Redevelopment Agency to order at 8:16 p.m. on Tuesday, October 6, 1992.
2. ROLL CALL-
PRESENT:
ALSO PRESENT:
Members Breazeal, Budds, Wilson, Manning and McGowan
Executive Director Ovrom, General Counsel Martin and Assistant
Executive Director Dawson
3. TIME FOR THOSE IN THE AUDIENCE WHO WISH TO SPEAR: NONE
4. CONSENT CALENDAR
Mr. Breazeal removed Item B. from the Consent Calendar. Mr. Breazeal moved to approve the
remainder of the Consent Calendar as presented, seconded by Vice Chairman Manning and
unanimously carried.
A. APPROVAL OF MINUTES - Regular Meeting of September 15, 1992
Approved the minutes from the regular meeting of September 15, 1992 as submitted.
B. RESOLUTION NO. CRA 92 -492: APPROVAL OF PAYMENT OF BILLS -
Mr. Breazeal asked if the check for the Redevelopment Seminar had already been sent
out.
Executive Director Ovrom stated the check has been sent as she has already attended.
She felt attendance at this one -day seminar conducted by the California Redevelopment
Association was very important as it explained the impact the recently adopted State
Budget would have on redevelopment agencies. The expenditure was within the adopted
Agency budget for 1992 -93.
Mr. Breazeal moved to adopt Resolution No. CRA 92 -492 approving claims and demands
in the amount of $7,604.01, seconded by Vice Chairman Manning and unanimously carried.
5. UNFINISHED BUSINESS:
A. CONTINUED ITEM: FISCAL YEAR 1992 -93 BUDGET REDUCTION -
With the passage of the State budget, the Temple City Redevelopment Agency was
affected by Senate Bill 844. The Legislature requires that redevelopment agencies allocate
to the County Auditor 16% of their 199 -91 tax increment apportionment to the
Educational Reserve Augmentation Fund on or before May 10, 1993. 16% of the Agency's
tax increment is $52,301. The Agency does not have sufficient funds now, nor is it
anticipated that there will be sufficient funds before the end of FY 1992 -93 to pay such
an amount to the County Auditor. The legislation requires the County Auditor to deduct
such an amount from the City's property tax if the sum i not paid by the Agency. As a
result of discussion at a Joint meeting of the City Council and Redevelopment Agency, the
Agency agreed to following reductions in the Agency's FY 1992 -93 Budget:
Agency Minutes, October 6, 1992 Page 2
Maps & Printing $ 5,000
Aerial Photographs
Area Studies 10,000
Total Proposed Budget Reductions $15,000
The Agency discussed possible financing options for payment of this obligation at their
Special meeting held prior to this evening's meeting. No decisions were made regarding
an advance from the Low and Moderate Housing Fund and the Agency's Administrative
Fund. The Agency agreed to continue this item to the Special meeting held on October
20, 1992 to consider further budget reductions and other sources of funding to meet the
Agency obligation.
Mr. Breazeal moved to approved the budget reductions of $15,000 and amend the budget
accordingly and to continue discussion of further reductions and funding sources to the
next regular meeting to be held October 20, 1992, seconded by Vice Chairman Manning
and unanimously carried.
6. NEW BUSINESS: NONE
7. COMMUNICATIONS: NONE
8. MATTERS FROM AGENCY MEMBERS: NONE
9. ADJOURNMENT:
At 8:20 p.m., it was moved, seconded and unanimously carried to adjourn to a Special meeting to
be held on October 20, 1992 at 5:00 p.m. in Council Chambers.
The next regular meeting of the Temple City Redevelopment Agency will be held on Tuesday,
October 20, 1992.
Chairman
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