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. . . RECORDING SECRETARY REPORT Motion: Instruct the Recording Secretary to enter notice of posting into the Minutes. The April 21, 1997 Agenda for the Adjourned Regular Meeting of the Community Redevelopment Agency was posted on the door of the Council Chambers, 22 Civic Center Plaza at 2:40 p.m. on April 16, 1997. The Notice of Adjournment for the April 15, 1997 Community Redevelopment Agency Regular Meeting was posted on the door of the Council Chambers, 22 civic Center Plaza at 5:32 p.m. on April 15, 1997. Chairman Pulido returned at 7:00 p.m. BUSINESS CALENDAR 1. LEONARD AND MICHELLE BARTH - AMENDMENT OF LOAN TERMS (Continued from March 3, 1997 by a 7/0 vote and April 7, 1997 by a 7/0 vote) Motion: Direct the Agency Attorney to prepare, and authorize the Executive Director to execute, any necessary documents amending the terms of the Direct Commercial Rehabilitation Loan with Leonard and Michelle Barth. MOTION: McGuigan SECOND: Lutz Executive Director Cindy Nelson and Administrative Services Manager John Reekstin presented the staff report and answered Agency Member Moreno's inquiries regarding the loan. Substitute Motion: Direct the Agency Attorney to prepare, and authorize the Executive Director to execute, any necessary documents amending the terms of the Direct Commercial Rehabilitation Loan with Leonard and Michelle Barth, with the following provisions: The Agency will sell its Note to the Barth's new lender for $50,000, and; Agency staff will attempt to secure a new Note in third position behind the First Trust Deed holder and the new lender for the remaining principal balance of the current Agency Note. MOTION: Espinoza Moreno SECOND: VOTE: AYES: Espinoza, Franklin, Lutz, McGuigan, Moreno, Pulido, Richardson NOES: None ABSENT: None REDEVELOPMENT AGENCY MINUTES -2- MAY 5, 1997