Redevelopment Advisory Commission

CITY OF HENDERSON REDEVELOPMENT AGENCY ADVISORY COMMISSION MINUTES December 20, 2016 I. CALL TO ORDER Chairman Serfas called the Redevelopment Agency Advisory Commission to order at 4:02 p.m. in the Annex Conference Room, City Hall Annex, 280 Water Street, Henderson, Nevada. II. CONFIRMATION OF POSTING AND ROLL CALL MaryAnne Cruzado, Recording Secretary, confirmed the meeting had been noticed in accordance with the Open Meeting Law by posting the Agenda three working days prior to the meeting at City Hall, Henderson Convention Center, Green Valley Police Substation, Fire Station No. 86, the Nevada Public Notice Website, the City of Henderson Website, and by mailing a copy of the agenda to everyone appearing thereon on the Agenda Master Mailing List. Present: Chairman Richard Serfas Tom Foster Mark McGinty Stan Southwick Laura Jane Spina John VanderPloeg Absent: None Staff: Mark Hobaica, Redevelopment Manager/City Architect Anthony Molloy, Downtown Redevelopment Manager April Parra, Council and Commission Services Reporter Jamie Thalgott, Assistant City Attorney I MaryAnne Cruzado, Redevelopment Commission Coordinator David Vorce, Principal Redevelopment Fiscal Administrator Redevelopment Agency Advisory Commission Page 2 of 4 December 20, 2016 – Minutes III. PUBLIC COMMENT No comments were presented by the public. IV. ACCEPTANCE OF AGENDA (Motion) Mr. McGinty introduced a motion to accept the agenda as presented. The vote favoring approval was unanimous. Chairman Serfas declared the motion carried. V. NEW BUSINESS NB-1 MINUTES REDEVELOPMENT AGENCY ADVISORY COMMISSION MEETING OF OCTOBER 25, 2016 Adopt the minutes of the City of Henderson Redevelopment Agency Advisory Commission meeting of October 25, 2016. (Motion) Mr. Foster introduced a motion to adopt the minutes of the City of Henderson Redevelopment Agency Advisory Commission meeting of October 25, 2016, as presented. The vote favoring approval was unanimous. Chairman Serfas declared the motion carried. NB-2 REDEVELOPMENT AGENCY ANNUAL AUDIT FISCAL YEAR 2015-2016 Report of the Redevelopment Agency's Fiscal Year 2015-2016 Audited Financial Statements. David Vorce, Principal Redevelopment Fiscal Advisor, gave a summary of the proposed item and reviewed the information contained in the audit. NB-3 FIRST QUARTER FISCAL YEAR 2017 FINANCIAL UPDATE First Quarter Fiscal Year 2017 Financial Update Report. David Vorce, Principal Redevelopment Fiscal Advisor, gave a summary of the First Quarter Fiscal Year 2017 Financial Update Report. He noted that everything is in line with the budget. NB-4 FIRST AMENDMENT - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS BLUE SKYE DEVELOPMENT, LLC (CMTS#19429) Redevelopment Agency Advisory Commission Page 3 of 4 December 20, 2016 – Minutes The First Amendment to Purchase and Sale Agreement and Joint Escrow Instructions, dated December 16, 2014, by and between the City of Henderson Redevelopment Agency and Blue Skye Development, LLC, amending the Phase II Option, which applies to certain vacant real property identified as (i) Assessor's Parcel Number 179-18-810-057, generally located at 318 S. Water Street, Henderson, Nevada 89015, and consisting of 0.19 acres ("318 Water Street"), and (ii) Assessor's Parcel Number 179-18-810-058, generally located at 322 S. Water Street, Henderson, Nevada 89015, and consisting of 0.17 acres ("322 Water Street"), to remove and release the Phase II Purchase Option with respect to 322 Water Street such that the Phase II Purchase Option will encompass only 318 Water Street, is scheduled to be heard and acted on at the December 13, 2016, Redevelopment Agency Meeting, which will occur after this agenda was finalized and sent to be posted to meet the Nevada Open Meeting Law Deadline. Mark Hobaica, Redevelopment Manager, gave a presentation on the proposed item. NB-5 REDEVELOPMENT AGENCY FINANCIAL MANAGEMENT POLICY REVISION Adopt the Redevelopment Financial Management Policy Revisions for Policy 1300-01, Fiscal Signature Authority. David Vorce, Principal Redevelopment Fiscal Advisor, gave a presentation on the proposed item and stated staff recommends approval. (Motion) Mr. McGinty introduced a motion to adopt the Redevelopment Financial Management Policy Revisions for Policy 1300-01, Fiscal Signature Authority as presented. The vote favoring approval was unanimous. Chairman Serfas declared the motion carried. NB-6 LETTER AGREEMENT THE LANDWELL COMPANY, L.P. Approval of the Letter Agreement between the City of Henderson Redevelopment Agency and The Landwell Company, L.P., waiving the pre-approval requirement under that certain Owner Participation Agreement (Corrected), dated as of October 16, 2007, by and between the parties to the letter agreement, as amended by that certain First Amendment to Owner Participation Agreement (Corrected), in order to allow the developer to obtain reimbursement for work completed by developer in accordance with the provisions of the Owner Participation Agreement, which will result in the addition of $553,888.46 to the OPA Note Related to the Galleria Drive Improvements. David Vorce, Principal Redevelopment Fiscal Advisor, gave a presentation on the proposed item and stated staff recommends approval. Redevelopment Agency Advisory Commission Page 4 of 4 December 20, 2016 – Minutes Motion: Spina moved to approve, unanimous (Motion) Ms. Spina introduced a motion to approve the Letter Agreement between the City of Henderson Redevelopment Agency and The Landwell Company, L.P., waiving the pre-approval requirement under that certain Owner Participation Agreement (Corrected), dated as of October 16, 2007, by and between the parties to the letter agreement, as amended by that certain First Amendment to Owner Participation Agreement (Corrected), in order to allow the developer to obtain reimbursement for work completed by developer in accordance with the provisions of the Owner Participation Agreement, which will result in the addition of $553,888.46 to the OPA Note Related to the Galleria Drive Improvements. The vote favoring approval was unanimous. Chairman Serfas declared the motion carried. VI. CHAIRMAN\MEMBER COMMENTS Chairman Serfas thanked staff for the outstanding job they have done this year. VII. SET NEXT MEETING The next meeting was set for January 24, 2017, at 4:00 p.m. VIII. PUBLIC COMMENT There were no comments presented by the public. IX. ADJOURNMENT There being no further business to be discussed, the meeting was adjourned at 4:27 p.m. Respectfully submitted, __________________________ April Parra, Council and Commission Services Reporter