ARA2006/10/17ANAHEIM, CALIFORNIA
ANAHEIM REDEVELOPMENT AGENCY MEETING
OCTOBER 17, 2006
The Anaheim Redevelopment Agency met in regular session in the Chambers of the
Anaheim City Hall located at 200 South Anaheim Boulevard.
Present: Chairman Curt Pringle, Agency Members: Richard Chavez, Lorri Galloway, Bob
Hernandez, and Harry Sidhu
Staff Present: City Manager Dave Morgan, City Attorney Jack White, and Acting
Secretary Catherine Godoy
A copy of the agenda for the meeting of the Anaheim Redevelopment Agency was posted
on October 13, 2006 on the City Hall outside bulletin board.
At 6:30 P.M., Chairman Pringle called the regular meeting of the Anaheim Redevelopment
Agency to order for a joint public comment session with the City Council.
ADDITIONS/DELETIONS TO THE AGENDA: None
PUBLIC COMMENTS: No comments offered during the Joint Agency/Council public
comment session related to the Redevelopment Agency agenda.
CONSENT CALENDAR:
Agency Member Sidhu moved to approve consent calendar items, seconded by Agency
Member Hernandez. Roll Call vote: Ayes - 5; Chairman Pringle, Agency Members:
Chavez, Galloway, Hernandez, and Sidhu. Noes - 0. Motion carried.
CONSENT CALENDAR:
1. Approve and authorize the Executive Director to execute that certain Amendment
3148 No. 2 to the Professional Service Agreement by and between the Anaheim
Redevelopment Agency and Stamper Whitin Works.
2. Approve the regular meeting minutes dated October 3, 2006.
END OF CONSENT CALENDAR:
3. RESOLUTION NO. ARA2006-010 A RESOLUTION OF THE GOVERNING
4227 BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY AUTHORIZING THAT
CERTAIN NOTE PURCHASE AGREEMENT IN AN AMOUNT UP TO $18,000,000
AND AUTHORIZING THE EXECUTIVE DIRECTOR TO CARRY OUT SUCH
AGREEMENT; AND MAKING CERTAIN OTHER FINDINGS IN CONNECTION
THEREWITH. (See Council Item No. 33)
Elisa Stipkovich, Community Services Director, reported the above resolution was to
approve a note purchase agreement with Citibank for an $18 million dollar, short-term
ANAHEIM REDEVELOPMENT AGENCY MINUTES
October 17, 2006 Page 2 of 2
loan that would be a minimum of 12 months and a maximum of 24 months. She
explained when the Agency approved the Disposition and Development agreement with
Brookfield Homes for the City to acquire and also sell the 18.3 acre Olive Street property
to them, the Agency Board authorized pursuing a loan in order to pay for a portion of the
acquisition because this project would be done into two phases. Brookfield would fund
the first phase of the acquisition and the Redevelopment Agency would fund the second
phase. Brookfield would then purchase the second phase from the Agency within 12 to
24 months of the first closing. Ms. Stipkovich indicated proposals from lenders were
solicited and staff believed Citibank had submitted the best proposal with an interest rate
based upon the LIBOR rate and fees at I/2 percent.
Agency Member Chavez moved to approve Resolution No. ARA2006-010 of the Anaheim
Redevelopment Agency authorizing a certain note purchase agreement in an amount up
to $18,000,000, authorizing the Executive Director to carry out such agreement and
making certain other findings, seconded by Agency Member Hernandez. Roll call vote:
Ayes - 5; Chairman Pringle, Agency Members: Chavez, Galloway, Hernandez and Sidhu.
Noes - 0. Motion carried.
ADJOURNMENT:
There being no further business, Chairman Pringle adjourned the Anaheim
Redevelopment Agency meeting at 6:40 P.M.
Respectfully submitte
6.ateherine Godoy
Acting Secretary, Anah m R development Agency