CDC - Item 2A - Minutes 06-10-08• 0
Minutes of the Regular
COMMUNITY DEVELOPMENT COMMISSION MEETING
June 10, 2008
Chairman Tran called the regular meeting of the Rosemead Community Development
Commission to order at 6:07 p.m. in the Rosemead Community Recreation Center, 3936 N.
Muscatel Avenue, Rosemead, California.
FLAG SALUTE: Commissioner Clark
INVOCATION: Commissioner Low
ROLL CALL OF OFFICERS PRESENT: Commissioner's Clark, Low, Taylor, Vice-Chairman
Nunez, Chairman Tran.
OFFICIALS PRESENT: Executive Director Chi, Agency Attorney Montes, Assistant City
Manager Saeki, Assistant City Manager Hawkesworth, Director of Finance Brisco, Public
Affairs Manager Flores, Director of Parks and Recreation Montgomery-Scott, Economic
Development Administrator Ramirez, and Commission Secretary Molleda.
1. PUBLIC COMMENTS FROM THE AUDIENCE: None
2. CONSENT CALENDAR
A. Minutes
May 27, 2008 - Regular Meeting
B. Resolution No. 2008-17 Claims and Demands
Recommendation: Adopt Resolution No. 2008-17 for payment of Commission
expenditures in the amount of $162,693.97 demands no. 8236 through 8243 and
8940 through 8941 and 9376 through 9380.
Vice-Chairman Nunez made a motion, seconded by Commissioner Low to approve the
Consent Calendar. Vote resulted in:
Yes: Clark, Low, Nunez, Taylor, Tran
No: None
Abstain: None
Absent: None
3. MATTERS FROM THE CHAIRMAN & COMMISSIONERS
Community Development Commission Meeting
Minutes of June 10, 2008
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4. MATTERS FROM THE EXECUTIVE DIRECTOR & STAFF
A. Adoption of the Rosemead Community Development Commission's
("RCDC") Fiscal Year 2008-09 Annual Operating and Capital Improvement
Budget
The RCDC's fiscal year 2008-09 Annual Operating and Capital Improvement
Budget is as follows:
Total Appropriations FY 2008-09 $5,964,450
Recommendation: That the RCDC Commissioners adopt Resolution No. 2008-
16 approving the fiscal year 2008-09 Annual Operating and Capital Improvement
Budget in the amount of $5,964,450.
Vice-Chairman Nunez made a motion, seconded by Commissioner Low to approve the
Rosemead Community Development Commission's Fiscal Year 2008-09 Annual Operating
and Capital Improvement Budget. Vote resulted in:
Yes: Low, Nufiez, Tran
No: Clark, Taylor
Abstain: None
Absent: None
B. Rosemead Inn Purchase
On December 11, 2007, the City Council authorized staff to purchase the
Rosemead Inn located at 8832 Glendon Way for $4.4 million. At that time, the
Agency did not have the available funds to purchase the property. Therefore, the
City Council approved a $4.4 million loan from the general fund to the Agency to
pay for the property. It should be noted that the property appraised for $4.5
million.
The motel is now in escrow and is scheduled to close on June 27, 2008. Over the
last several weeks, staff has been preparing for the close of escrow and in doing
so, has been researching other potential funding sources available to purchase the
hotel. After much vetting and research, it has been determine that there are non-
restricted tax increment dollars available in the CDC to fund the transaction.
Therefore, a loan from the general fund to the Agency is no longer required. In
fact, the general fund will not need to contribute a single dollar toward the
purchase of the hotel.
Recommendation: That the Community Development Commission approve
Resolution No. 2008-18 appropriating $ 4.4 million of unrestricted tax increment
dollars to purchase the Rosemead Inn.
Community Development Commission Meeting
Minutes ofJune 10, 2008
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Juan Nunez - spoke against the purchase of the Rosemead Inn.
Vice-Chairman Nunez made a motion, seconded by Commissioner Low to approve
Resolution No. 2008-18 appropriating $4.4 million of unrestricted tax increment dollars to
purchase the Rosemead Inn. Vote resulted in:
Yes: Low, Nunez, Tran
No: Clark, Taylor
Abstain: None
Absent: None
5. ADJOURNMENT
The meeting adjourned at 6:23 pm. The next Community Development Commission meeting
will take place on July 8, 2008 at 6:00 pm.
John Tran
Chairman
ATTEST:
Gloria Molleda
Commission Secretary
Community Development Commission Meeting
Minutes o/June 10, 2008
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