Item 19 Staff Report Community Developers - Local Development Corporation Los Gatos Creek VillageDATE:
TO:
COUNCIL/AGENCY AGENDA REPORT
MARCH 30, 2001
MAYOR AND TOWN COUNCIL/
CHAIR AND MEMBERS OF THE REDEVELO
MEETING DATE: 4/2/01
ITEM NO. 19
F«L
ENT AGENCY
.11111.1
FROM: TOWN MANAGER/EXECUTIVE DIRECT• f,!
SUBJECT: COMMUNITY DEVELOPERS - LOCAL DEVELOPM NT CORPORATION -
LOS GATOS CREEK VILLAGE
A. CONSIDER ACCEPTING REPORT OF SEIFEL CONSULTING
INCORPORATED "DUE DILIGENCE ANALYSIS OF FUNDING
REQUEST FOR LOS GATOS CREEK VILLAGE"
B. CONSIDER MAKING A FINDING THAT LOS GATOS CREEK
VILLAGE PROVIDES A SIGNIFICANT COMMUNITY BENEFIT BY
MEETING CURRENT NEEDS FOR AFFORDABLE HOUSING, AND
EXEMPT LOS GATOS CREEK VILLAGE FROM THE TRAFFIC
IMPACT MITIGATION FEE
C. CONSIDER PROVIDING CONCEPTUAL APPROVAL OF A LOAN
OF $233,800 TO COMMUNITY DEVELOPERS - LOCAL
DEVELOPMENT CORPORATION FROM REDEVELOPMENT
AGENCY HOUSING SET -ASIDE FUNDS
DISCUSSION:
This item has been pulled from the agenda. Staff will be having further discussions on this issue
with Community Developers - Local Development Corporation.
PREPARED BY: DEBRA J. FIGONE
Town Manager/Ex uti Director
DJF:pg
MGR189 A:ICNCLRPTSI4-2LGCREEKVILLAGE.wpd
Reviewed by: C14- Attorney Finance Revised: 3/30/01 10:40
am
Reformatted: 10/23/95
TOWN OF LOS GATOS
CALIFORNIA
REDEVELOPMENT AGENCY
April 2, 2001
Minutes
REDEVELOPMENT AGENCY
The Redevelopment Agency/Town Council of the Town of Los Gatos met in the Council Chambers of
the Town hall, 110 East Main Street, at 7:07 p.m., Monday, April 2, 2001, in joint regular session.
ROLL CALL
Present: Randy Attaway, Steven Blanton, Sandy Decker,
Steve Glickman, and Chairman/Mayor Joe Pirzynski.
Absent: None.
ACCOUNTS PAYABLE/RATIFICATION/MARCH 2001 (14.V)
Motion by Mr. Glickman, seconded by Mr. Blanton, that the Agency ratify the accompanying check
register for accounts payable invoices on March 16, 2001, and those paid March 23, 2001, in the amount
of $105,923.33. Carried unanimously.
MINUTES OF MARCH 19, 2001 (15.V)
Motion by Mr. Glickman, seconded by Mr. Blanton, that the Agency approve the Joint Town
Council/Redevelopment Agency Minutes of March 19, 2001, as submitted. Carried unanimously.
COMMUNITY HOUSING DEVELOPERS/LOCAL DEVELOPMENT CORPORATION
LOS GATOS CREEK VILLAGE/MILES AVENUEE1(19.15)
Mayor/Chairman Pirzynski announced that this was the time and place so noted for public hearing to
consider:
a. Accepting report of Seifel Consulting Incorporated "due diligence analysis of funding request
for Los Gatos Creek Village"
b. Making a finding that Los Gatos Creek Village provides a significant community benefit by
meeting current needs for affordable housing, and exempt Los Gatos Creek Village from the
traffic impact mitigation fee
c. Providing conceptual approval of a loan of $233,800 to Community Developers - Local
Development Corporation from Redevelopment Agency housing set -aside funds
Mayor/Chairman Pirzynski noted that this item has been pulled from the agenda. Staff will be having
further discussions on this issue with Community Housing Developers - Local Development
Corporation.
Motion by Mr. Blanton, seconded by Mr. Attaway, to continue this item to April 16, 2001. Carried
unanimously.
ADJOURNMENT
Motion by Mr. Blanton, seconded by Mr. Attaway, to adjourn this evening's meeting at 9:43 p.m.
and reconvene to Closed Session which will be reported at the next regular Council meeting. Carried
unanimously.
ATTEST: Marian V. Cosgrove, Secretary to the Redevelopment Agency
TC:D12:RA040201