HomeMy Public PortalAboutMinutes - 1997/04/15 - Regular1
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TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY
MINUTES
APRIL 15, 1997
INITIATION:
1. CALL TO ORDER
Pursuant to the Agenda posted April 10, 1997, Chairman Souder called the meeting of the Temple City
Redevelopment Agency to order at 8:12 p.m. on Tuesday, April 15, 1997.
2. ROLL CALL:
PRESENT: Member - Breazeal, Brook, Wilson, Gillanders, and Souder
ALSO PRESENT: Executive Director Riley, 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 Ms. Wilson and
unanimously carried.
A. APPROVAL OF MINUTES - Regular meeting of April 1, 1997
Approved the Minutes from the regular meeting of April 1, 1997, as submitted.
B. THIRD QUARTER FINANCIAL REPORTS AND TREASURER'S REPORT
Received and filed.
C. TIED QUARTER BUDGET AMENDMENTS
Approved third quarter budget amendments and amended the budget accordingly.
D. RESOLUTION NO. CRA 97 -630: APPROVAL OF PAYMENT OF BILLS
Adopted Resolution No. CRA 97 -630, allowing claims and demands in the amount of $628.00.
5. UNFINISHED BUSINESS: None
6. NEW BUSINESS:
A. STOCK BROKERAGE BUSINESS IN TEMPLE CITY SQUARE SHOPPING CENTER (SUSAN
LEW)
Executive Director Riley presented the background information as outlined in the staff . report
dated April 15, 1997.
Vice Chairman Gillanders said granting a waiver could set a precedent to exceed the percentage
for future cases.
Chairman Souder asked if the percentage of uses designated for the center was a major issue
when the center was built.
Mr. Breazeal explained the designated percentages was an attempt to maximize the sales tax
revenue.
Susan Lew, CALAC Investment, stated the perspective tenant would be a benefit to the City and
the region. She noted under the DDA there is a 10 percent limit on non - retail uses and currently
the center is at or just below 10 percent. She provided information about the proposed business
Agency Minutes, April 15, 1997
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and also noted the optometrist sells eye glasses and contact lens and may be considered a retail
use. Currently the center has over 10 percent of unleased space.
Vice Chairman Gillanders said originally there was concern of that the center would have non-
productive office uses.
Chairman Souder asked what the hours of operation would be for the business.
Hseh Liu, 1005 Grantridae Avenue, Monterey Park, explained the stock market opens at 6 p.m.
Pacific Time and 9 a.m. in Taiwan. Two hours later the stock market opens in Hong Kong. He
expects the business to be open from 3 p.m. to about 11 p.m. Clients would utilize the computers
to monitor stocks. Stocks would not be bought or sold from the location. His goal is to encourage
clients to set up computer systems in their homes.
Executive Director Riley noted City Attorney Martin's concern that this may be an amendment
to the DDA which requires a noticed public hearing.
City Attorney Martin explained that under CRA law an amendment to the DDA has to follow a
certain procedure. He said increasing the percentage of office use would be an amendment to the
DDA.
Mr. Breazeal moved to schedule a public hearing to consider an amendment to the DDA, seconded
by Vice Chairman Gillanders and unanimously carried.
7. COMMUNICATIONS: None
8. MATTERS FROM AGENCY MEMBERS: None
9. CLOSED SESSION: None
10. ADJOURNMENT:
At 8:33 p.m., it was moved, seconded and unanimously carried to adjourn. The next regular meeting of
the Community Redevelopment Agency will be held on Tuesday, May 6, 1997.
Chairman
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