HomeMy WebLinkAboutMINUTES - 03182003 - C43 ''I'll-,..................................................................................................................................................................................................
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TO: REDEVELOPMENT AGENCY
FROM: John Sweeten
Executive Director
DATE: March 18, 2003
SUBJECT: Financial Advisory Services — 2003 Tax Allocation Bond Issuance
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & 13ACKGROUND AND JUSTIFICATION
RECOMMENDATION
AUTHORIZE the Redevelopment Director to execute a contract in an amount not to exceed$25,000
with Fraser& Associates for financial advisory service from March 1, 2003 — December 31, 2003 in
connection with the issuance of 2003 Tax Allocation Bonds of the Redevelopment Agency.
FISCAL IMPACT
None. Budgeted Redevelopment funds only are to be used.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Redevelopment Agency is preparing to issue its 2003 Tax Allocation Bonds. In order to proceed the
Agency will need to prepare ten-year revenue projections,verify current revenues and the manner in which they
are calculated,review/analyze appeals,and have prepared a Fiscal Consultants Report The firm of Fraser and
Associates has completed this work for the Agency in the past, and is intimately familiar with the Agency's
financial status, and the County Auditor-Controller's methods for determining tax allocations to the Agency.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
,w4iCOMMENDATION, OF EXECUTIVE DIRECTOR ECOMM NDATION OF /AGENCY
COMMITTEE � APPROVE OTHER
SIGNATURE(Sv----
ACTION 01ENCY ON march 18, tow APPROVED AS RECOMMENDED xOTHER
VOTE OF COMMISSIONERS
X UNANIMOUS I HEREBY CERTIFY THAT THIS IS A
{ABSENT-NOW ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: A STAIN:
DISTRICT Ill SEAT VACAW MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
335-1255 ATTESTED march 18,
orig: Redevelopment Agency
cc: Community Development JOHN SWEETEN, AGENCY SECRETARY
County Counsel It
CAO BYBW�L&�et DEPUTY
Auditor-Controller 0
via: Redevelopment Agency
Fraser& Associates
H.-\Personal\Board Orders and GreeniesTOS,RDA.taxalloc.,3.03.doc