CDC - Agenda 03-25-08Public Comment from the
Audience
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Rosemead
Community
Development
Commission
AGENDA
March 25, 2008
6:00 PM
Rosemead Community Recreation Center
3936 N. Muscatel Avenue, Rosemead, California 91770
John Tran, Chairman
John Nunez, Vice-Chairman
Margaret Clark, Commissioner
Polly Low, Commissioner
Gary Taylor, Commissioner
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ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION March 25, 2008
• CALL TO ORDER- 6:00 PM
• PLEDGE OF ALLEGIANCE - Vice-Chairman Nunez
• INVOCATION - Chairman Tran
• ROLL CALL - Commissioners Clark, Low, Taylor, Vice-Chairman Nunez, Chairman Tran
1. PUBLIC COMMENTS FROM THE AUDIENCE
(Community Development Commission matters only)
2. CONSENT CALENDAR
A. Minutes
February 12, 2008 - Regular Meeting
February 26, 2008 - Regular Meeting
Resolution No. 2008.06 Claims and Demands
Recommendation: Adopt Resolution No. 2008-06 for payment of Commission
expenditures in the amount of $244,048.80 demands no. 8195 through 8205 and 9344
through 9347.
C. Resolution No. 2008-09 Claims and Demands
Recommendation: Adopt Resolution No. 2008-09 for payment of Commission
expenditures in the amount of $67,528.55 demands no. 8206 through 8211 and 9348
through 9350.
3. MATTERS FROM THE CHAIRMAN & COMMISSIONERS
4. MATTERS FROM THE EXECUTIVE DIRECTOR & STAFF
A. Update on Status of Development Site at the Southwest Corner of Rosemead
Boulevard and Glendon Way
On January 8, 2008, the Rosemead Community Development Commission (CDC)
approved an Exclusive Negotiating Agreement (ENA) with Jacobsen Family Holdings, LLC
for the development of the Glendon Way project. The term of the ENA provided an initial
negotiating period of 90 calendar days, subject to one (1) 90 calendar day extension given
that sufficient progress has been made during the initial 90 day Period.
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ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION March 25, 2008
Over the last 3 months, Jacobsen has been working with a nationally recognized retailer
who has shown interest in the Glendon Way project. If a commitment is made by the
retailer, Jacobsen will prepare a development package for the Commission's consideration
which will include a preliminary site plan and elevations and a draft project proforma.
Because the initial 90 day period is scheduled to expire in early April, Jacobsen has
requested an additional 90 day extension to continue negotiations with the retailer.
Recommendation: That the Rosemead Community Development Commission approve a
90 day extension to the Exclusive Negotiating Agreement between the Rosemead
Community Development Commission and Jacobsen Family Holdings for the development
of a proposed project on the southwest corner of Rosemead Boulevard and Glendon Way.
B. City Council Chamber Renovation - Funding Amendment
On January 12, 2008, the City Council approved a construction contract with Caltech
Construction for renovating the Council Chambers. As approved by general counsel, the
entire project was budgeted in the Rosemead Community Development Commission's
(RCDC) Special Projects budget using tax exempt bond funds as the funding source
(Attachment 1). However, at a later time, based on Section 33445 of the Health and
Safety (H & S) Code (Redevelopment Law) Agency Bond Counsel advised that City Hall.
renovations would not be an allowable use of tax exempt bond proceeds except for bonds
issued prior to January 1, 1994 (Attachment 2). This means that the tax exempt bond
proceeds received from the City's $34 million "1993 Series Bond" issued in 1993 are
exempt from the prohibition of City Hall renovations mandated by H & S Code Section
33445, providing the City is able to account for any remaining proceeds from the 1993
Series Bond".
Finance Department staff has identified approximately $200,000 of remaining 1993 Series
Bond" proceeds which will be used to support the appropriation in the RCDC Special
Projects budget. Therefore, of the $643,000 total amount needed to renovate the Council
Chambers (architectural - $70,000, construction - $573,000), only $200,000 can be paid
for with tax exempt bond proceeds. The $443,000 difference can be funded partially with
Community Development Block Grant funding ($10,000) and the remainder ($433,000)
with funds to be appropriated in the General Fund.
In November 2007, the Commission approved a $2.4 million loan from the City to pay for
administrative expenses incurred by the redevelopment agency for FY 2007-08. Based
upon unexpected increases in tax increment revenue and salary savings realized through
vacant positions during this fiscal year, a portion of the loan will not be needed to fund
expenses in the redevelopment agency. Therefore, the Agency will be able refund the
$433,000 cost to complete the Chambers remodel back to the City from this initial loan and
not require the City Council to appropriate any new additional funds for the Council
Chambers renovation project. Resolution No. 2008-08 (Attachment 3) authorizes an early
partial repayment of the loan from the City to the Agency and is attached for your
consideration.
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ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION March 25, 2008
Recommendation: That the Rosemead Community Development Commission approve a
Resolution No. 2008-08 authorizing a partial repayment ($433,000) of the loan from the
City to the Redevelopment Agency.
5. ADJOURNMENT
The next Community Development Commission meeting will take place on April 8, 2008 at
6:00 pm.
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