01-16-1989 - Regular Meeting - MinutesM I N U T E S
AN ADJOURNED REGULAR MEETING
OF THE WEST COVINA CITY COUNCIL
January 16, 1989
• The adjourned regular meeting of .the West Covina City Council was 'called to order
by Mayor.Manners at 6:35 pm in the Multipurpose Room at City Hall, 1444 W. Garvey
Avenue, West Covina.
ROLL CALL Mayor Manners, Mayor Pro Tem Bacon, Councilmembers Lewis,
McFadden,(arrived 6:40 pm), Tarozzi
Others Present: Fast, Thomas, Miller, Panas,'.Futter', Lucke, Meacham, Keating,
Koniarksy, Eliot, Yoshizaki, Berry
y
'G
FINANCIAL TRENDS
City Manager Fast explained that the presentation
would cover long range forecasting (ten years) involving
both the City and Redevelopment Agency. He noted that
restricted funds would not be discussed because of the
inflekibility of those monies. To make reasonable fore-
casts, the following assumptions were applied throughout:
a) Current level of service would continue
b)' No major economic instability would be experienced
c) No increases in current tax rates
d) No changes in the expenditure mix
e) Uniform rate of change for all items, except
• those already known as forthcoming.
The City's projections were presented by Accounting Manager
i'Pa an s-, who correlated the financial handouts with the
graphs. Trends-yerec:based on three scenarios:
1) No new Redevelopment projects.
2) No new Redevelopment projects, but included
$2.94 million annually Capital Improvement Programs.
3) Three new Redevelopment projects.
Recess
ORAL COMMUNICATIONS
ADJOURNMENT
ATTEST:,
Assistant -Executive Director of the Redevelopment Agency,
Leonard Eliot, presented the same three scenarios and
an additional four scenario which included six Redevelopment
projects. The purpose was'to depict graphically the
impact Redevelopment projects has on the City's financial
status through the next ten years. Questions and comments
followed by Council.
Mayor Manners called a recess at 8:00 pm and reconvened
the meeting at 8:07 pm with all members present.
Katherine,.Castucci, 430 S. Pima Avenue, asked for clarifi-
cation of the housing set -aside process. Mr Eliot responded.
Motion by Bacon, seconded by McFadden, and unanimously
carried to adjourn the meeting at 8:15 pm.
- �
Mayor N cy Manners
City Clerk -Janet Berry