RDA Min 1994-12-05 - Laserfiche WebLink

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. I ,. 2. GENERAL (1402-01) - A. Opening remarks by Chairperson and Executive Director Chairwoman Gasparini welcomed Planning Commissioners Bursak, Giannini and Watry, Chamber of Commerce officials Larry Buckmaster, Don Warren and Pat Webb. B. Staff Presentation 1) Background - Legal framework and brief history of Redevelopment in Redwood City Redevelopment Agency Counsel Hildebrand described the sources of authority for redevelopment, the purposes of redevelopment, the powers given to Redevelopment Agencies, and the safeguards built into the law "that operate to protect the rights of citizens, tenants and property owners, and even other taxing entities." Redevelopment Agency Executive Director Church presented the history of redevelopment in Redwood City: activated in 1982, amended in 1985 and 1990, four project areas, and the 1991 bond issue. 2) Redevelopment Financing Finance Director Ponty presented slides and hand outs describing redevelopment - financing, property tax distribution, tax increment distribution, and the mandatory 20% set aside for affordable housing. Director Church described revenue projections 1995 through 2004 and the sixteen (16) projects in the 1991 bond issue. 3) Current and Future Redevelopment Projects Director Church discussed the two facets of redevelopment, housing and economic development, and listed current and future projects: Mezes (formerly Trestine), Arton Plaza, the auto mall project, the 101 corridor, and the storettont improvement project. Director Church stated that the original Sequoia Station Project had a land use objective (the area was blighted) and the tax increment was secondary. Consultant Tim Kelley of Keyser Marston described the unique but complicated financing and the long and arduous process to complete the Sequoia Station Project. - MINUTE BOOK NO. 52 Redevelopment Agency Joint Study Session Minutes Page No. 227 December 5, 1994 Page 2