HomeMy WebLinkAboutTC Minutes 2011-03-02 (RDA)TIBURON . "
REDEVELOPMENT AGENCY
MARCH 2, 2011
MINUTES
CALL TO ORDER
Following the regular Town Council meeting on March 2, 2011, Chair Slavitz called the
Redevelopment Agency meeting to order at 8:55 p.m.
ROLL CALL
Boardmember Collins, Boardmember Fredericks, Boardmember O'Donnell, Vice Chair Fraser,
Chair Slavitz.
ORAL COMMUNICATIONS
None.
BUSINESS MEETING
Cecilia Place - Recommendation to authorize the Town Manager to Negotiate and
Execute a Subordination, Non-Disturbance and Attornment Agreement to facilitate
installation of photovoltaic panels on Cecilia Place (Agency Counsel Danforth)
Agency Counsel Danforth gave the report. She said that the Tiburon Redevelopment Agency and
the Ecumenical Association for Housing ("EAH") had partnered together in the 1990s to create
the Cecilia Place housing project. The Town initially loaned EAH the amount of $339,149 for
the project in 1995, which amount the parties increased to $751,522 in 1996. She said that the
debt is secured by a deed of trust, also amended in 1996 to reflect the increased amount of the
Note. According to Danforth, the Note's outstanding unpaid balance at this time is $663,411.
Ms. Danforth said that EAH has entered into two contracts with Helio Micro Utility to install
photovoltaic panels on its properties in Marin County (collectively, the "Agreement"). Under
this agreement, Helio will install the panels on each property without cost to the project,
provided that the project purchases the power generated from those panels from Helio. EAH has
advised staff that the cost of the energy purchased from Helio will be less than PG&E would
charge for a comparable about. Moreover, EAH will have the option to purchase the panels at
little or no cost after five years.
Danforth went on to explain that Helio would retain ownership of the panels unless and until
they are purchased. Accordingly, Helio requires that its agreement with EAH be binding on
Tiburon Redevelopment Agency Minutes #02-2011 March 2, 2011 Page 1
future owners, including in the event of foreclosure. EAH requests that the Town agree to
subordinate its deed of trust to Helio's right of access to the-property and agree to be bound by
the Agreement in the event that the Town takes title to the property.
Danforth said that staff believes that it is very unlikely that the Agency would ever succeed to
the Cecilia Place property. Moreover, the proposed transaction appears to be very favorable to
the project and would not adversely affect the value of the Agency's security interest.
Accordingly, staff recommends that the Council approve the agreement, subject to one change:
the addition of a paragraph clarifying that approval of the agreement does not limit the Town's
discretion with respect to any permits or approvals required for the installation of the panels
under the Town's Municipal Code.
Councilmember Collins recommended a modification to the language in the agreement regarding
the three-day notice to vacate the premises, in the event of a default. He said that it seemed like
too short of a turnaround time in which to act, under any circumstances, and especially in dealing
with several agencies. Council concurred with this recommendation and directed staff to amend
this provision to extend the Town's time to respond.
In response to additional questions from Council, Agency Counsel Danforth explained that the
program would not directly benefit the residents of Cecilia Place, except to the extent that it
would lower over-all costs for the Homeowners Association. The program is not offered by
Marin Clean Energy.
Chair Slavitz opened the meeting to public comment on the above item. There was no public
comment. Mayor Slavitz closed the public comment period.
MOTION: To authorize negotiation and execution of the above agreement with the Marin
Housing Authority, as amended.
Moved: Collins, seconded by Fredericks
Vote: AYES: Unanimous
ADJOURNMENT
There being no further business before the Tiburon Redevelopment Agency, Chair Slavitz
adjourned the meeting at 9:00 p.m.
JEFF\SLAVITZ, Q =-AIR
TIBUkON REDEVILOPMENT AGENCY
ATTEST:
DIANE CRANE IACOPI, BOARD CLERK
Tiburon Redevelopment Agency Minutes #02-2011 March 2, 2011 Page 2