SPECIAL MEETING
City of Wasco
Redevelopment Agency Minutes
June 21, 2010
City Council Chambers
746 8th Street, Wasco, California 93280
1) CALL TO ORDER: Chairman Espitia called the special meeting to order at 3:30p.m.
2) ROLL CALL
Present: Chairman Espitia, Hively, Wegman
Executive Director Zervis, Assistant Director Allen, Deputy City Clerk Rodriguez, Community Development Director Allinder
Absent: Directors Cortez, West
3) COMMUNICATIONS FROM AUDIENCE: None
4) CONSENT CALENDAR:
a) Approve the Reading of All Ordinances and Resolutions by Title Only and Approve Publication of All Ordinances in Summary Form.
Director Hively made a motion to approve, 2nd by Member Wegman.
5) Report and Possible Approval RE: Letter from City of Wasco to Wasco Affordable Housing, Inc. and/or loan documents committing to making a loan to WAHI in the amount of $1,000,000.00, payable from residual receipts over 55 years at 3% simple interest, subject to further modifications as approved by the City Manager and City Attorney.
Executive Director Zervis gave staff report. The Board had made prior approval in the amount of $500,000. Some tax credit application points will be awarded based upon public funds committed to the project therefore WAHI is requesting a letter of commitment from the Board.
DIRECTOR CORTEZ ARRIVED AT 3:35P.M.
Attorney Schroeter informed council that Director West is not present due to a prior exemption. It is not a normal conflict but a 1090 conflict. There was discussion on whether there was an opinion from FPPC regarding this and Attorney Schroeter mentioned that FPPC has no conflict with this nor does the Attorney General.
Attorney Schroeter also informed council that this is just a commitment letter and once their loan is approved the final loan documents will be brought back to the board for approval.
There was some discussion on payments and the order of priority for payments.
Director Cortez made a motion to approve, 2nd by Director Wegman. Motion carried with the following vote:
AYES: Espitia, Cortez, Hively, Wegman
NOES: None
ABSTAIN: None
ABSENT: West
6) INFORMATION ITEMS: None
7) DIRECTOR COMMENTS: None
8) CLOSED SESSION: None
9) ADJOURNMENT: Chairman Espitia adjourned the meeting at 3:47p.m.
_______________________________ ________________________________
Duviet Rodriguez, Deputy City Clerk Danny Espitia, Chairman
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