CDC - Agenda 10-28-08Public Comment from the Audience
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Rosemead
Community
Development
Commission
AGENDA
October 28, 2008
6:00 PM
City Hall Council Chambers
8838 E. Valley Blvd., Rosemead, California 91770
www.cityofrosemead.org
John Tran, Chairman
John Nunez, Vice-Chairman
Margaret Clark, Commissioner
Polly Low, Commissioner
Gary Taylor, Commissioner
ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION October 28, 2008
• CALL TO ORDER - 6:00 PM
• PLEDGE OF ALLEGIANCE - Vice-Chairman Nunez
• INVOCATION - Commissioner Clark
• ROLL CALL -Commissioners Clark, Low, Taylor, Vice-Chairman Nunez, Chairman Tran
1. PUBLIC COMMENTS FROM THE AUDIENCE
(Community Development Commission matters only)
2. PRESENTATION
• EPA Mandated Projects
3. CONSENT CALENDAR
A. Minutes
September 9, 2008 - Regular Meeting
September 23, 2008 - Regular Meeting
B. Resolution No. 2008.31 Claims and Demands
Recommendation: Adopt Resolution No. 2008-31 for payment of Commission
expenditures in the amount of $2,363,259.11 demands Nos. 9949 through 9950 and
11045 through 11046.
4. MATTERS FROM THE CHAIRMAN & COMMISSIONERS
5. MATTERS FROM THE EXECUTIVE DIRECTOR & STAFF
A. 1515 Walnut Grove (Countrywide Building)
The City was recently contacted by Jim McCann of the law firm of Wilson, Sonsini,
Goodrich, & Rosati in Palo Alto, California, who is representing the property owner of the
Countrywide building located at 1515 Walnut Grove Avenue. According to Mr. McCann,
the property is currently in the process of being refinanced. During this process, it was
discovered that in 1979 the Rosemead Redevelopment Agency (now the Community
Development Commission) entered into a Disposition and Development Agreement (DDA)
with the property owner. The details of the DDA are unclear as a copy of the document
cannot be found by the property owner or the City. Since the DDA is referenced in the
Grant Deed, refinancing the property cannot take place unless that language is removed
by the commission.
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ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION October 28, 2008
Mr. McCann is now requesting that the Commission consider removing the DDA
obligations from title. This can be accomplished through the quitclaim process. Escrow is
scheduled to close on November 4, 2008 and is contingent upon the removal of this
language.
Recommendation: That the Community Development Commission authorize the
Executive Director to execute a Quitclaim of the Commission's interest in the property
located at 1515 Walnut Grove Avenue.
B. Pham Parcel Purchase
On October 14, 2008, the Community Development Commission authorized staff to finalize
the purchase of the purchase of the Pham Parcel located at 3520 Ivar Avenue for $3.855
million as part of the Glendon Way redevelopment project.
If it continues to be the intent of the Commission to purchase the Pham property, the
Commission must approve the purchase and sale agreement and adopt Resolutions No.
CDC 2008-32 and Resolution CDC 2008-33. Resolution No. CDC 2008-32 approves the
promissory note between the City and the Commission for a $3.055 million loan to
purchase the property pending City Council approval. The $800,000 difference will be paid
with unrestricted tax increment dollars. Resolution No. CDC 2008-33 appropriates $3.855
million for the purchase of the property.
Recommendation: That the Community Development Commission take the following
actions:
1. Approve the purchase and sale agreement;
2. Adopt Resolution No. CDC 2008-32 approving the promissory note between the
City and Commission for a $3.055 million loan to purchase the property;
3. Adopt Resolution No. CDC 2008-33 which appropriates $3.855 million for the
purchase of the property.
6. ADJOURNMENT
The next Community Development Commission meeting will take place on November 18,
2008 at 6:00 pm.
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