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Home My WebLink About1991 05 20 CC MIN1991 05 20 CC MINòw @˜w¡CC MIN MAY 20 1991à›[H2‘8 ADJOURNED REGULAR MEETING OF THE. CITY COUNCIL OF TH£ CITY OF BALDWIN PARK, CITY HALL, 14403 EAST PACIFIC AVE, MONDAY, MAY 20, 1991 AT 10:00 A.M, The City Council or the City of Baldwin Park met in regular session in the Council Chambers at 10:00 a.m. ROLL CALL: PRESENT: COUNCILMEMBERS GALLEGOS, IZELL, ROLL CALL.. MCNEILL AND MAYOR LOWES ALSO PRESENT: City Manager Penman, Dir. of Administrative Serv. Cole, Chief of Police Lanza, Dir. of Human Services Lucas, City Clerk Gair 00- Councilman Keyser's and City Treasurer Montenegro' S ABSENCES absences were excused. EXCUSED 00- Mayor Lowes declared the adjourned regular meeting of COUNCIL & the City Council and the adjourned regular meeting of AGENCY IN the Redevelopment Agency in session. SESSION 00- REPORTS OF OFFICERS AN COMMlSSIONERS AND COMMITTEES£S City Manager Penman stated that it was necessary at this LOAN OR the City to loan the Agency $626,477 to cover some AGREEMENT immediate obligations that the Agency has. The Agency CITY TO is repaying a debt to the City in this amount through AGENCY tax increment monies. However, the Agency must meet obligations regarding property acquisitions/condemna- tions or be in default. He listed the immediate debts as Union Good, Hannah, and Wells Fargo. He requested that the balance remaining between the obligations and revenue remain with the Agency to pay miscellaneous expenses, litigation costs and interest payments as explained the staff report of May 20th. Council discussed the need to make the loan in this DISCUSSION amount at this time, the outstanding legal costs, and the 7-9% interest that is received by the City from these loans. in response to Council questions City Manager Penman explained that the Agency can not keep the tax increment monies because the monies come from different project areas and you can not take money from one project to pay other projects directly. He also explained the difficulty in predicting a time frame for CRA paying back their debts and that the consequences of not loaning this money would be default if the Agency did not pay. It was moved and seconded that the City make a loan of LOAN TO $626,477 to the Redevelopment Agency with the interest AGENCY rate charged to the Agency et;ual to the amount of APPROVED Interest that the City receives through the Local Agency Investment Fund LAIF). fl/S/C: IZELL/MCNEILL. City Manager Penman presented the alternatives for ALTERNA- Balancing the FY 1991-92 Budget. He stated that the lIVES FOR BIB] 37175-U01 CC-U02 MIN-U02 MAY-U02 20-U02 1991-U02 LG1-U03 LI1-U03 FO3433-U03 FO3751-U03 FO3766-U03 DO3770-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 BIB] 37256-U01 1991-U02 05-U02 20-U02 CC-U02 MIN-U02 LG1-U03 LI1-U03 FO3433-U03 FO3751-U03 DO3770-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 CITY-U05 COUNCIL-U05 MINUTES-U05 1991 05 20 CC MINòw @˜w¡CC MIN MAY 20 1991à›[H2‘8ADJOURNED REGULAR MEETING OF THE CITY MAY 20, 1991 COUNCIL OF THE CITY OF BALDWIN PARK PACE TWO budget presented on May 13th to the Council was out of FY 1991-92 balance by $370,600. Council directed staff to submit BUDGET alternatives for balancing thru budget. He outlined the expenditure cuts and revenue raising options that would accomplish balancing the budget as stated the May 20th staff report. Council discussed the proposed alternatives and the DISCUSSION possible increase in fees, business license taxes, and possible garage/yard sale fees that cover administrative costs. Council agreed that they would individually present the City Manager with any ad(Sitional changes they desired prior to the June 5th public hearing on the budget It was moved and seconded to approve the Alternatives ALrERNA- for Balancing the FY 1991-92 Budget as presented in the TIVES staff report. fl/S/C: IZELL/GALLEGOS. There were no APPROVED objections. 00- The adjourned regular meeting of the City Council met in CLOSED Closed Session at 10:50 a.m. to discuss Meet &Session SESSION to discuss Confer and personnel matters. The adjourned regular meeting was reconvened at 11.50 a.m. Roll Call remained the same. City Manager Penman stated that in Closed Session no decisions were made relating to the matters discussed. 00- It was agreed that the Mayor would appoint a committee CHAMBER or two to meet with the Chamber of Commerce to review CONMITTEE the Chamber budget and contract. 00- It was moved and seconded to adjourn the adjourned MEETING regular meeting of the City Council at 11:55 p.m. ADJOURNED M/S/C: IZELL/ GALLEGOS. There were no ob3ectlons. 11:55 P.M. BIB] 37175-U01 CC-U02 MIN-U02 MAY-U02 20-U02 1991-U02 LG1-U03 LI1-U03 FO3433-U03 FO3751-U03 FO3766-U03 DO3770-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 BIB] 37256-U01 1991-U02 05-U02 20-U02 CC-U02 MIN-U02 LG1-U03 LI1-U03 FO3433-U03 FO3751-U03 DO3770-U03 C4-U03 MINUTES1-U03 10/11/2001-U04 ADMIN-U04 CITY-U05 COUNCIL-U05 MINUTES-U05