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CDC - Agenda 11-14-06• • • Public Comment from the Audience: • If you wish to address the Community Development Commission, please complete a Speaker Request Card and hand it to the Commission Secretary before the start of the meeting. • The Community Development Commission will hear public comments on matters not listed on the agenda during the Public Comments from the Audience period. • Opportunity to address the Community Development Commission (on non- agenda items) is limited to 3 minutes per speaker. • The Community Development Commission will hear public comments on items listed on the agenda during discussion of the matter and prior to a vote. Brown Act: Pursuant to provisions of the Brown Act, no action may be taken on a matter unless it is listed on the agenda, or unless certain emergency or special circumstances exist. The Community Development Commission may direct staff to investigate and/or schedule certain matters for consideration at a future Community Development Commission meeting. Americans with Disabilities Act: In compliance with the ADA, if you need special assistance to participate in this meeting, please contact the City Clerk's office at least 48 hours prior to the meeting to allow the City to make reasonable arrangements to ensure accessibility to the meeting or service. Persons attending the meeting shall observe rules of propriety, decorum, good conduct, and refrain from impertinent or slanderous remarks. Violation of this rule shall result in such persons being barred from further audience before the governing body. This agenda was posted 72 hours in advance of the meeting at the City Hall, 8838 E. Valley Boulevard, Rosemead; the L.A. County Library, Rosemead Branch, 8800 E. Valley Boulevard, Rosemead; and other locations pursuant to RMC Sec. 1.08.020 Rosemead Community Development Commission AGENDA November 14, 2006 7:00 PM City Hall Conference Room 8838 E. Valley Boulevard, Rosemead, California 91770 Gary Taylor, Chairman John Nunez, Vice-Chairman Margaret Clark, Commissioner Jay Imperial, Commissioner John Tran, Commissioner ® • ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION November 14, 2006 • • CALL TO ORDER - 7:00 PM • PLEDGE OF ALLEGIANCE - Commissioner Clark • INVOCATION - Chairman Taylor • ROLL CALL - Commissioners Clark, Imperial, Tran, Vice-Chairman Nunez, Chairman Taylor 1. PUBLIC COMMENTS FROM THE AUDIENCE (Community Development Commission matters only) 2. CONSENT CALENDAR A. Resolution No. 2006.24 Claims and Demands Recommendation: Adopt Resolution No. 2006-24, for payment of Commission expenditures in the amount of $85,456.36 demands 8011 through 8020. B. Minutes October 10, 2006 - Regular Meeting 3. MATTERS FROM THE CHAIRMAN & COMMISSIONERS • 4. MATTERS FROM THE EXECUTIVE DIRECTOR & STAFF A. City Hall Remodel Update B. Resolution No. 2006-25 - Authorizing the issuance of not to exceed $26,000,000 of the Commission's Redevelopment Project No. 1 Tax Allocation Bonds, Series 2006B and the execution and delivery of a second supplement to the indenture, a purchase contract, a continuing disclosure agreement and an official statement, and approving a preliminary official statement in connection therewith and authorizing related actions. At its October 24, 2006 meeting, the Community Development Commission authorized staff to pursue the refunding of all outstanding debt from the 1993 Tax Allocation Bond issue and use Piper Jaffray to serve as the senior managing underwriter. As part of the refunding process, the City Council and Community Development Commission must approve resolutions authorizing the issuance of the bonds and the execution and delivery of a second supplement to the indenture, a purchase contract, a continuing disclosure agreement, official statement and a preliminary official statement. Recommendation: That the Commission take the following action: • 1) Approve Resolution No. 2006-25 authorizing the issuance of tax allocation bonds. Page 2 of 3 • C. Closed Session ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION 0 November 14, 2006 2) Approve certain documents related to the bond issue as mentioned above. CONFERENCE WITH REAL PROPERTY NEGOTIATORS (GOVERNMENT CODE SECTION 54956.8) • Property Valley Boulevard 9735 Valley Boulevard 9711 Valley Boulevard 9701 Valley Boulevard 4016 Temple City Boulevard 4022 Temple City Boulevard 4030 Temple City Boulevard 4046 Temple City Boulevard 4050 Temple City Boulevard 9748 Abilene Street Negotiating Parties - Agency Under Negotiation: Property Owner Bottlemate Inc. Meiloon Valley LLC Albert Ching Thrifty Oil No 191 City of Rosemead Bimbo Bakeries USA Inc. Bimbo Bakeries USA Inc. Jenny Chang Inc. Ching & Hai Liu Bottlemate Inc. Executive Director Redevelopment Manager Price and terms of payment 5. ADJOURNMENT The next regular meeting is scheduled for November 28, 2006 at 7:00 p.m. • Page 3 of 3 i I ,I I 'czbvwki-i-Pj Q C00- 11-1/1-cc, A lB1 .e J ) O (RI I OFFICES rte) t i cGUnGw_ u- aFacs oFFCES - NN OFFICES - is cGLmcE - ~ ' OFFICES I I cauucE, ~ ' A hT KnFw `-1 noau l1. , g~n~rl, f~ I \ ASSLSTw cl~ RWIO GGUNEEF 4- II ' I 1 OFFICE _ _ ~.-.j iI'$II o IEUICME O (.L GIC3M 1 777 i t GFgvp t CgAMJM1Y 0EV. OLEAK VWLi CIX+EEPENCE sT. PRMG I I IT , F~ I GLEP( I - - - LOrvF~EF'ENCE a°>D G ❑ A/V Room ❑ Work Stations ❑ Work Counter MAIN FLOOR ROSEMEAD CITY HALL ❑ Council Office 10 NOV. 06 ❑ Waiting Area ❑ Conference Room ❑ Council Chambers City Manager ❑ Offices 0 -C9 -Cfi -0 to: A ( COC, 1 O 501 mit PPA~ l M~ J i y A) 101) F, Y I f 1 i I ~ I / f i j i BASEMENT LEVEL _ ROSEMEAD CITY HALL 10 NOV. O6 ❑ Storage E Workstations ❑ Offices - O In O y `l J a, .J ~I~ni1-12~~. COCA II-I~-~o 345 California St., Sui¢ 2200, San Francisco, CA 94105 PiperJaffray. Td: 415-984-5161 I Td: 415-9843600 I Fax: 415.984-5159 Piper Jaffray& Co. Since 1895. fvlemberSIPC and NYSE. Rosemead Community Development Commission Tax Allocation Bonds, Series 2006B Proposed Financing Team and Proposed Fees Role Firm Contact Fee I Bond Counsel Orrick, Herrington & Sutcliffe William Bothwell i I (213) 612-2403 $65,000 Disclosure Counsel Orrick, Herrington & Sutcliffe i William Bothwell $45,000 (213) 612-2403 - Issuer Counsel Wallin, Kress, Peter Wallin $3 500 Reisman & Kranitz , (310) 450-9582 ~ I - - - - Bond Insurer Ambac I Ted Molin $462,500 (212) 208-3361 i Underwriter Piper Jaffray I ' Steven Gortler $144,000 (415) 984-5163 I ' Pricing Advisor Public Financial Management Keith Curry $10,000 (949) 721-9422 I Rating Agency Standard & Poor's I 1 1 Robert iams 1 $16,500 - - - - - 15) 37 5 070 (4 Escrow Verification ' The Arbitrage Group Russell Moore I 1 $2,500 (205) 330-85211 I Trustee US Bank - Bradley Scarbrough $2,500 (213) 615-6047 Printer Elabra Tim Kelly $10,000 (415) 289-5000 I i Miscellaneous $5,000