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ARA2007/03/20ANAHEIM REDEVELOPMENT AGENCY REGULAR ADJOURNED MEETING OF MARCH 7, 2007 HELD ON MARCH 20, 2007 The Anaheim Redevelopment Agency met in regular adjourned session in the Chambers of the Anaheim City Hall located at 200 South Anaheim Boulevard. Present: Chairman Curt Pringle, Agency Members: Lorri Galloway, Bob Hernandez, Lucille Kring and Harry Sidhu Staff Present: City Manager Dave Morgan, City Attorney Jack White, and Secretary Linda Nguyen. A copy of the agenda for the meeting of the Anaheim Redevelopment Agency was posted on March 16, 2007 on the kiosk outside City Hall. At 5:35 P.M., Chairman Pringle called the meeting of the Anaheim Redevelopment Agency to order for a joint public comment session with the City Council and the Housing Authority. ADDITIONSIDELETIONS TO THE AGENDA: None PUBLIC COMMENTS: No comments offered during the Joint Agency/Housing Authority/Council public comment session related to the Redevelopment Agency agenda. At 6:11 P.M., Chairman Pringle recessed the Anaheim Housing Authority to consider the Redevelopment Agency agenda. CONSENT CALENDAR: Chairman Pringle removed Item 1 from the consent calendar for further discussion. Agency Member Sidhu moved to approve the balance of the consent calendar, seconded by Agency Member Galloway. Roll Call vote: Ayes - 5; Chairman Pringle, Agency Members: Galloway, Hernandez, Kring and Sidhu. Noes - 0. Motion Carried 2. Approve and authorize the Executive Director to execute Amendment No. 1 to 3599.A.1 Professional Service Agreement with RBF Consulting to provide on-call civil engineering services. 3. Approve minutes of the Agency regular meeting of January 30, 2007. END OF CONSENT: 1. Approve and authorize the Executive Director to execute a Cooperation Agreement with 4516 the City of Anaheim to install Anaheim Canyon monument-type signage within existing street medians. (Related to Council Item # 36) Chairman Pringle asked staff how many sites had been identified for the installation of monument signs for the Canyon business area, remarking if the cost was $350,000, he would have difficulty supporting this item if only two signs were being installed. Elisa Stipkovich, Community Development Director, indicated the Agency had a program to put in signage throughout the Canyon and the two signs identified in the staff report were monument signs ANAHEIM REDEVELOPMENT AGENCY MINUTES March 20, 2007 Page 2 of 3 which would be installed in the medians and were fairly large in size. Since the Public Works Department implemented the signage program, she would verify specific details of the program with Public Works. Chairman Pringle asked if there was any objection to continuing this item to the next meeting and with no objections received, Item No. 1 was continued to April 17, 2007. Mayor Pringle remarked City Council had remained in session to consider a joint public hearing with the Anaheim Redevelopment Agency. JOINT REDEVELOPMENT AGENCYICITY COUNCIL PUBLIC HEARING 4. A Joint Public Hearing to consider a Disposition and Development Agreement with 4184.A Future Properties Management, LLC, for the disposition of Agency owned parcels for the expansion and rehabilitation of the shopping center at the northeast corner of Brookhurst Street and La Palma Avenue (Future Properties Shopping Center). AGENCY ACTION: H/K VOTE: 5-0 RESOLUTION NO. ARA 2007-001 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY (I) APPROVING THAT CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENT (FUTURE PROPERTIES SHOPPING CENTER) WITH FUTURE PROPERTIES MANAGEMENT, LLC, (II) APPROVING THE BASIC CONCEPT DRAWINGS, AND (III) MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH. Director Elisa Stipkovich remarked the public hearing was a requirement of State law for the disposition of any property by the Anaheim Redevelopment Agency. On September 1, 2006, she explained Council and the Redevelopment Agency had approved an exclusive right to negotiate with an adjacent retail property owner for Agency-owned parcels at 2157-2151 La Palma Avenue. The Agency site was approximately 3/ of an acre and the retail center had made a proposal to purchase the site from the Agency for fair market value, which was $1 million. She explained the property owner would be rehabbing and adding to their current retail center. In accordance with the agreement, Future Properties Management would have to construct approximately 4,689 square feet of additional retail space, demolish a dilapidated restaurant and add a new 1,700 square foot Starbucks coffee shop. They would also be modifying the facades and adding parking as well as doing a complete upgrade on the landscaping. The Community Development Department performed an economic analysis which reflected the Agency had paid $735,000 for the site, would get $1 million from the proceeds of the sale and would receive $435,000 (net present value dollars) in tax increment over the life of this project. She added staff was recommending approval of the disposition and development agreement. Chairman Pringle opened the public hearing and invited comments. With no public input received, Chairman Pringle closed the hearing. Agency Member Hernandez moved to approve Resolution No. ARA-2007-001 of the Redevelopment Agency (I) approving a Disposition and Development Agreement (Future Properties Shopping Center) with Future Properties Management LLC, (II) approving basic concept drawings, and (III) and making certain findings; seconded by Agency Member Kring. Agency Member Sidhu remarked he fully supported the sale and the needed improvements to ANAHEIM REDEVELOPMENT AGENCY MINUTES March 20, 2007 Page 3 of 3 the retail center. Roll Call Vote: Ayes - 5; (Chairman Pringle, Agency Members: Galloway, Hernandez, Sidhu and Kring. Noes - 0. Motion Carried. ADJOURNMENT: There being no further business, Chairman Pringle adjourned the Anaheim Redevelopment Agency meeting at 6:18 P.M. Resp ully s bmitted, ' da Nguyen Secretary, Anaheim Redevelopment Agency