HomeMy Public PortalAboutMinutes - 1993/06/01 - Regular1
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TEMPLE CITY REDEVELOPMENT AGENCY
MINUTES
JUNE 1, 1993
INITIATION:
1. CALL TO ORDER:
Pursuant to the Agenda posted May 28, 1993, Chairman Manning called the meeting of the
Temple City Redevelopment Agency to order at 8:40 p.m. on Tuesday, June 1, 1993.
2. ROLL CALL:
PRESENT:
ALSO PRESENT:
Members- Breazeal, McGowan, Wilson, Budds and Manning
Executive Director Ovrom, General Counsel Martin and Assistant
Executive Director Dawson
3. TIME FOR THOSE IN THE AUDIENCE WHO WISH TO SPEAK: NONE
4. CONSENT CALENDAR:
Mr. Breazeal moved to approve the Consent Calendar as presented, seconded by Mrs. Wilson and
unanimously carried.
A. APPROVAL OF MINUTES - Regular meeting of May 18, 1993
Approved the minutes from the regular meeting of May 18, 1993 as submitted.
B. CRA TREASURER'S REPORT, REVENUE AND EXPENDITURE SUMMARY
REPORTS -
Received and filed.
C. RESOLUTION NO. 93 -508: WARRANTS & DEMANDS -
Adopted Resolution No. CRA 93 -508 approving claims and demands in the amount of
$2,947.25.
5. UNFINISHED BUSINESS: NONE
6. NEW BUSINESS:
A. PUBLIC HEARING: PROPOSED BUDGET FISCAL YEAR 1993 -94 -
Executive Director Ovrom stated the total recommended budget for the Agency is
$2,680,000 which is an increase from last year due to the full accounting of the Agency's
outstanding obligations relative to the Temple City Square shopping center. It is
anticipated that the outstanding acquisition issues will be resolved during FY 1993 -94.
The operating budget has been reduced by approximately $57,000 due to a variety of line
item reductions in response to the State diversion of tax increment revenue to school
districts. The primary activities for FY 1992 -93 included the completion of the final phase
of the Temple City Square shopping center and the sale of the center to CALAC
Investment. The Agency coordinated the purchase and development of the former Shell
Service station site at the northwest corner of Broadway and Rosemead Boulevard for the
construction of the Hat restaurant. The Agency was also involved in preliminary
discussions with property owners and real estate developers interested in possible
expansion of the KIVIART shopping center and the Block C site. In reference to this next
year, special projects will include conducting a feasibility study of expanding entertainment
uses in Block D; the possible development of the Bank of America property at Hermosa;
further discussion regarding Blocks B and C and the construction of raised landscape
median islands on the Rosemead Boulevard and Las Tunas Drive corridors. The future
of the Agency's ability to function is dependent on its ability to attract new development
and expand its local tax base.
Agency Minutes, June 1, 1993
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Chairman Manning declared the public hearing open and invited anyone wishing to speak
on this matter to come forward at this time.
As there was no one wishing to speak on this matter, Mrs. Wilson moved to close the
public hearing, seconded by Mrs. McGowan and unanimously carried.
Mr. Breazeal moved to refer the proposed budget for Fiscal year 1993 -94 to the regular
meeting of June 15, 1993 for final adoption subject to revisions to be considered by Agency
members, seconded by Mrs. Wilson and unanimously carried.
7. COMMUNICATIONS: NONE
8. MATTERS FROM AGENCY MEMBERS: NONE
9. ADJOURNMENT:
At 8:50 p.m., it was moved, seconded and unanimously carried to adjourn an Adjourned Budget
Meeting on June 2, 1993 at 6:00 p.m. in the Community Room.
The next regular meeting of the Temple City Community Redevelopment Agency will be held on
Tuesday, June 15, 1993.
LEP /MINS /5434.1
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