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05-27-1992 - Special Meeting - MinutesC J • M I N U T E S SPECIAL MEETING OF THE WEST COVINA CITY COUNCIL AND THE REDEVELOPMENT AGENCY May 27,.1992 The special meeting of the West Covina City Council and Redevelopment Agency was called to order by Mayor Manners at 7:35 pm in the City Hall Council Chambers, 1444 W. Garvey Avenue, West Covina. The Pledge of Allegiance was led by Council - member McFadden. CITY 'COUNCIL ROLL CALL. Manners, Jennings, Herfert, McFadden, Wong REDEVELOPMENT "AGENCY "ROLL CALL Manners, Jennings, Herfert, McFadden, Wong Councilmember Wong stated that he would abstain from discussion and vote on the public hearing matter due to a conflict of interest. He stepped down from the Council table and took a seat in the audience. Others Present: Starbird, Hanna, Johnson, Wylie, Miller, Crawford, Orr, ':Yoshizaki—Beriy- r JOINT PUBLIC HEARING TO CONSIDER THE PROPOSED SECOND AMENDMENTTOTHE OWNER PARTICI- PATION AGREEMENT BETWEEN THE REDEVELOPMENT AGENCYANDSYLVAN S. SHULMAN"CO./ WEST COVINA ASSOCIATES - THE PLAZA EXPANSION Mayor Manners stated that the City Council and Redevelopment Agency would consider approving a Second Amendment to the Hearing opened Owner Participation Agreement between the Agency and Shulman/ May Centers for the expansion of the Plaza; approving an amendment to the Cooperative Agreement between the City of West Covina and the Redevelopment Agency; and approving a Third Amendment to the Reciprocal Easement Agreement per- taining to the Plaza project. These amendments are necessitated by the proposed purchase of all title and interest in the Plaza by CenterMark Properties. City Clerk verified the affidavit of publication. Mayor Manners opened the hearing. Staff presentation Project Manager Johnson reviewed the original project for the expansion and renovation of the Plaza Shopping Center, discussing the purpose and methodology for accomplishing it. James Regan of Kotin, Regan & Mouchly discussed the com- ponents of the debt service and developer advances. Redevelopment Services Director Wylie presented the current impact on May Centers Partnership share. He also explained the slowdown of the project last fall was due to negotiations by May Centers to purchase 100% of interest in The Plaza. James Regan discussed the impact of the changing ecomonics on the project performs and developer advances. Both Steve Wylie and James Regan reviewed various facets of the CenterMark Properties purchase,redaluating the impacts on CenterMa'rk,'economically -and their: :expansion responsibilities. Tom Clark of Stradling, Yocca, Carlson and Rauth addressed the proposed amendment. The overall evaluation of the proposal was given by City Manager Starbird. Staff members and consultants responded to Council questions and comments. - 1 - • L J SPECIAL MEETING OF COUNCIL AND AGENCY May 27, 1992 Pg. 2 Public Testimony Mayor Manners opened the public testimony portion of the hearing. She then asked ifrany written correspondence had In'_Favor: been received supporting the proposal. City Clerk Berry Written correspondence answered in the affirmative: a letter was received from from Katherine Castucci Katherine Castucci, 430 S. Pima Avenue, urging Council to vote in favor. Oral Comments: JamesDausch of CenterMark Properties addressed Council. from James Douch Mayor Manners asked if any written correspondence had been No written opposition received in opposition.-_Cit',^Clerk responded in the negative. Oral comments were received from:T Oral comments IJim Mahoka, Glendora, representing Eastland merchants, from Jim Mahoka noted that the Eastland shopping center was suffering from lack of walk-in traffic and hoped that something would be done very soon.to help the shopping center. 'No rebuttal comments Mayor Manners asked for rebuttal comments and none were offered. She then closed the public testimony portion of Public —Testimony —closed the hearing. Council Discussion Councilmember McFadden commenced Council discussion, noting the proposal was --very complex but worth moving forward with as it was good for the City. He hoped to see Fashion Plaza, Eastland, and The Lakes completed in five years. Councilmember Jennings stated his agreement with the proposal and felt it was time to move forward with it. Recess Councilmember Herfert was concerned that he might have a conflict of interest. Mayor Manners called a recess at 9:12 pm to allow him to confer with the City Attorney. The meeting reconvened at 9:20 pm and Councilmember Herfert stated.he could participate in discussions and the vote as the City Attorney assured him that there was no conflict of interest. Councilmember Herfert was particular pleased with the proposal as the project was moving from a private developer to a -major corporation, which *asra positive sign for the City. Mayor Manners spoke about the need for the City to preserve its base revenues and the entire success of the Plaza is dependent upon the project. CITY COUNCIL ACTION City Clerk presented: RESOLUTION NO. 8823 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA,APPROVING THAT CERTAIN AGREEMENT Resolution 8823 - ENTITLED "SECOND AMENDMENT TO OWNER PARTICIPATION AGREEMENT approving 2nd Amendment BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF WEST COVINA"AND SYLVAN S. SHULMAN CO./WEST COVINA ASSOCIATES" AND MAKING FINDINGS REGARDING CERTAIN PUBLIC IMPROVEMENTS Motion by Jennings, seconded by McFadden to waive further reading of the resolution and adopt. Motion carried with Wong abstaining from the vote. Motion by Herfert, seconded by McFadden to approve a First Amendment to Cooperative Agreement between the City of West Covina and the Redevelopment Agency of the City of West 1st Amendment to Coopera- Covina Regarding Expansion of the Fashion Plaza, and tiAm Agree. approved authorize the Mayor to execute the Amendment, as amended to include additional language to the Cooperative Agreement allowing the Redevelopment -Agency to make payments to the City. Motion carried with Wong abstaining. - 2 - Cl • SPECIAL MEETING OF COUNCIL AND AGENCY May 27, 1992 Pg.3 REDEVELOPMENT ACTION City Clerk presented: RESOLUTION NO. 435 - A RESOLUTION OF THE REDEVELOPMENT Resolution 435 - AGENCY OF THE CITY OF WEST COVINA APPROVING THAT CERTAIN 2nd Amendment approved AGREEMENT ENTITLED "SECOND AMENDMENT.TO OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF WEST COVINA AND SYLVAN S. SHULMAN CO./WEST COVINA ASSOCI_-_ ATES" AND MAKING FINDINGS REGARDING CERTAIN PUBLIC IMPROVE- MENTS Motion by Jennings, seconded by McFadden to waive further reading of the resolution and adopt. Motion carried with Wong abstaining. Motion by Herfert, seconded by McFadden to approve a First 1st Amendment to Coopera- Amendment to Cooperative Agreement between the City of West tive Agree. approved Covina and the Redevelopment Agency of the City of West Covina Regarding Expansion of the Fashion Plaza, and authorize the Chairman to execute the Amendment, as amended to include Additional:ilahguage to the Cooperative Agreement allowing the Redevelopment Agency to make payments to the City. Motion carried with Wong abstaining. Motion by McFadden, seconded by Jennings to approve a Third 3rd Amendment to C,O.R.E. Amendment to and Restatement of Construction, Operation and Agreement approved Reciprocal Easement Agreement for The Plaza at West Covina, in substantially the form submitted, and authorize the Chairman to execute the Amendment. Motion carried with Wong abstaining. ORAL COMMUNICATIONS ADJOURNMENT ATTEST K/ City Clerk Janet Be y Upon conclusion of the jolntcpublic hearing at 9:35 pm Councilmember Wong joined the Councilmembers at the table. No comments offered. Motion by Jennings, seconded by McFadden, and unanimously carried to adjourn the City Council meeting at 9:36 pm. Motion by Jennings, seconded by McFadden, and unanimously carried to adjourn the Redevelopment Agency meeting at 9:36 pm. Mayor Na"c Manners - 3 -