HA1987/12/01223
Anaheim Civic Center, ANAHEIM HOUSING AUTHORITY
December 1, 1987, 6:32 P.M.
PRESENT: AUTHORITY MEMBERS: Hunter, Kaywood, Pickler and Bay
ABSENT; AUTHORITY MEMBERS; Ehrle
PRESENT: CITY MANAGER: Bob Simpson
CITY ATTORNEY: Jack White
SECRETARY: Leonora N. Sohl
DIRECTOR OF COMMUNITY DEVELOPMENT; Norman J. Priest
ASSISTANT EXECUTIVE DIRECTOR OF COMMUNITY DEVELOPMENT:
Lisa Stipkovich
A complete copy of the agenda for the meeting of the Anaheim Housing Authority
was posted at 2:30 p.m. on November 25, 1987 at the Civic Center kiosk,
containing all items as shown herein.
Chairman Bay called the regular meeting of the Anaheim Housing Authority to
order at 6:36 p.m.
MINUTES: Authority Member Kaywood moved to approve the minutes of the regular
meetings held October 20 and November 3, 1987. Authority Member Pickler
seconded the motion. Authority Member Ehrle was absent. MOTION CARRIED.
FINANCIAL DEMANDS AGAINST THE ANAHEIM HOUSING AUTHORITY in the amount of
$4,977.65 and $17,146.61 in Public Housing Authority Bonds for the period
ending November 20, 1987 and $184.69 for the period ending November 25, 1987,
in accordance with the 1987-88 Budget, were approved.
CONSENT CALENDAR ITEMS: On motion by Authority Member Pickler, seconded by
Authority Member Bay, the following actions were authorized in accordance with
the zeports and recommendations furnished each Authority Member and as listed
on the Consent Calendar Agenda. Authority Member Pickler offered Resolution
Nos. AHA87-15 and AHA87-16. Refer to Resolution Book.
1. 177.137: RESOLUTION NO. AHA87-15: A RESOLUTION OF THE ANAHEIM HOUSING
AUTHORITY AUTHORIZING THE ISSUANCE OF REVENUE BONDS FOR THE PURPOSE OF
PROVIDING FINANCING FOR MULTIFAMILY RENTAL HOUSING DEVELOPMENT BY TRIDER
CORPORATION. (Authorizing the issuance of Revenue Bonds in the amount of
~9,000,000 to Trider Corporation for the purpose of providing financing for a
ll?-unit senior rental housing development to be located at 41S South Anaheim
Hills Road, and further authorizing Jones Hall Hill & White to serve as bond
counsel to the Authority)
2. 177.137: RESOLUTION NO. AHA87-16: A RESOLUTION OF THE ANAHEIM HOUSING
AUTHORITY AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF ANAHEIM HOUSING
AUTHORITY VARIABLE RATE DEMAND MULTIFAMILY HOUSING REVENUE BONDS, 1987 SERIES
A (PARK VISTA APARTMENTS PROJECT), AUTHORIZING THE EXECUTION AND DELIVERY OF
AN INDENTURE OF TRUST, LOAN AGREEMENT, REGULATORY AGREEMENT AND DECLARATION OF
RESTRICTIVE COVENANTS, INTERCKEDITOR AGREEMENT, OFFICIAL STATEMENT AND BOND
PURCHASE AGREEMENT, ASSIGNING ALLOCATION AND AUTHORIZING THE EXECUTION AND
DELIVERY OF AND APPROVING OTHER RELATED DOCUMENTS AND APPROVING OTHER RELATED
87-69
Anaheim Civic Center~ ANAHEIM HOUSING AUTHORITY
December 1, 1987, 6:32 P.M.
ACTIONS IN CONNECTION THEREWITH. (Authorizing the issuance, sale and delivery
of Variable Rate Demand Multifamily Housing Revenue Bonds, 1987 Series A (Park
Vista Apartments Project); authorizing the execution and delivery of an
Indenture of Trust with Seattle First National Bank, as Trustee, in the amount
of $26,000,000, Loan Agreement; Regulatory Agreement and Declaration of
Restrictive Covenants, a Remarketing Agreement with Chevy Chase Anaheim
Partners and Seattle-First National Bank and Declaration of Restrictive
Covenants, Intercreditor Agreement, Official Statement and Bond Purchase
Agreement; First Amendment to Land Disposition and Development Agreement with
the City and Chevy Chase Anaheim Partners, assigning Allocation, authorizing
execution and delivery of and approving other related documents and actions in
connection therewith)
Roll Call Vote:
AYES: AUTHORITY MEMBERS: Hunter, Kaywood, Pickler and Bay
NOES: AUTHORITY MEMBERS: None
ABSENT: AUTHORITY MEMBERS: Ehrle
The Chairman declared Resolution Nos. AHA87-15 and AHA87-16 duly passed and
adopted.
End of Consent Calendar. Councilman Ehrle was absent. MOTION CARRIED.
RECESS - CLOSED SESSION: City Attorney Jack White requested a Closed Session
to discuss the following item:
a. Potential litigation, Government Code Section 54956.9c.
Authority Member Pickler moved to recess into Closed Session. Authority
Member Bay seconded the motion. Authority Member Ehrle was absent. MOTION
CARRIED. (6:40 p.m.)
AFTER RECESS: Chairman Bay called the meeting to order, all Authority Members
being present with the exception of Authority Member Ehrle. (6:52 p.m.)
177.121: GONDEMNATION HEARING: To consider the acquisition of property owned
by Sat Paul and Raj Dewan, generally located at 1005 West Arlington Avenue.
Submitted wan report dated November 20, 1987 from the A~i~tant Executive
Director of Community Development, Lisa Stipkovich, recommending adoption of
the proposed resolution authorizing the condemnation.
Mr. Sat Paul Dewan, 15 Reinstar, Irvine, stated they have no
objection to the City's redevelopment plans but to the price
being offered to the property owners in the area. The City is
basing value on an outdated six ~o eight month old appraisal
report which is far below market price. They are requesting an
equitable price for their property. They have provided Counsel
for the Authority with a most recent up-to-date appraisal
report. They would like the Authority to be aware of this
appraisal and the offer. If the City can offer them a fair
market price, they will wish speed to the City and redevelopment
improvement of the area.
87-70