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1998-04-07 Special CIC Minutes28 MINUTES OF THE SPECIAL COMMUNITY IMPROVEMENT COMMISSION MEETING TUESDAY - - - APRIL 7, 1998 - - - 7:25 P.M. Chair Appezzato convened the meeting at 7:54 p.m. Commissioner Daysog led the Pledge of Allegiance. Reverend Daniel Weller, Alameda Community Church, Invocation. ROLL CALL PRESENT: ABSENT: gave the Commissioners Daysog, DeWitt, Kerr, Lucas and Chair Appezzato - 5. None. MINUTES (98-21) Minutes of the Special Community Improvement Commission Meeting of March 3, 1998. Approved. Commissioner Lucas moved approval of the Minutes. Commissioner DeWitt seconded the motion, which carried by unanimous voice vote - 5. REGULAR AGENDA ITEMS (98-22) Recommendation to approve Mid-Year Budget Revision for Fiscal Year 1997-98. Commissioner Daysog questioned the reason for the modest decrease in tax increment. The Community Development Director explained the various reasons for the decrease, including personal property adjustments dealing with business closures and requests for lower assessments. Commissioner Lucas moved approval of the recommendation to approve the Mid-Year Budget Revision. Commissioner Daysog seconded the motion, which carried by unanimous voice vote - 5. (98-23) Resolution No. 98-77, "Authorizing Amendment to the Loan Interest Rate of the Cooperation Agreement Between the City and the Community Improvement Commission." Adopted. Special Meeting Community Improvement Commission April 7, 1998 9 Commissioner Daysog questioned how much interest the Commission would save in the near future. The City Manager responded approximately $300,000 over a six year period. Chair Appezzato stated the 12% interest rate should be reduced to 6%; the issue should be visited every six months; and said reduction accelerated, if possible. Commissioner Daysog moved acceptance of the staff recommendation, with the caveat that the matter of accelerating interest rate reduction be addressed every six months. Commissioner Lucas seconded the motion, which carried by unanimous voice vote - 5. ORAL COMMUNICATIONS, NON-AGENDA (Public Comment) None. COMMISSION COMMUNICATIONS (Communication from Commissioners) None. ADJOURNMENT There being no further business before the Commission, Chair Appezzato adjourned the meeting at 8:00 p.m. Respectfully submitted, ‘WZ(/ Dirt B. Felsch, CMC Secretary, Community Improvement Commission The agenda for this meeting was posted in accordance with the Brown Act. Special Meeting Community Improvement Commission April 7, 1998