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HomeMy WebLinkAbout1974-0430 rda_CCv0001.pdf MINUTES of an adjourned meeting of the Redevelopment Agency of the City of Redlands held in the Council Chambers, Safety Hall, 212 Brookside Avenue, on April 30, 1974 at 2:00 P.M. PRESENT Jack B. Cummings, Chairman Ellsworth E. Miller, Member Charles G. DeMirjyn, Member Chresten M. Knudsen, Member Bertha Rose Grace, Member �t PRESENT (Continued) R. P. Merritt, Jr. , Redevelopment Director Edward F. Taylor, City Attorney Peggy A. Moseley, Secretary Ad-10- Erwin Dein, Redlands Daily Facts Chuck Palmer, San Bernardino Sun ABSENT None This adjourned Redevelopment Agency meeting was scheduled for the purpose of receiving of bids and award of sale for $2,440,000 Parking Lease Revenue Bonds, Series A, consideration and con- currence in a Reimbursement Agreement between the Redevelopment Agency and the City, and other business as required. Bids for the $2,440,000 Parking Lease Revenue Parking Bonds, Series A, were opened and publicly declared Lease in the Office of the City Clerk at 10:00 A.M. Revenue this date as previously advertised: Bonds Award Bank of America Premium: $496 .90 Redlands, California Net Cost: $2, 790, 553 .10 Interest: 6.7699°% United California Bank Premium: 0 Redlands, California Net Cost: $2,537, 500.00 Interest: 6.5537% A third bid was delivered too late to be opened. Each bid was accompanied by a good faith check in the amount of $50,000. These bids were referred to a committee for checking and computation with a report to the Agency at this meeting. It is the report of the committee at this time that the bid of the Bank of America is the bid yielding the lowest net cost to the City. Following discussion on the present condition of Resolution the bond market, and assurance by Mr. Ed Hyland No. -132 of Stone and Youngberg that future refunding is possible in the event that the market lowers, award of the sale was made to the Bank of America A on motion of Dr. Miller, seconded by Chairman 1.. Cummings, by a unanimous vote of the Redevelopment Agency members . Included in this motion was adoption of Redevelopment Agency Resolution No. 132 . � = To fix the base rental, secured by a lease of the parking facilities to the City by the Redevelop- Resolution ment Agency, Mr. Merritt presented Redevelopment No. °-133 Agency Resolution No. 133. The annual amount Rental stated herein is $226, 300 to be paid semi-annually. Payable Mr. Hyland explained that over a 21 year period by City this would result in a $216,000 credit to the City. Following discussion, Redevelopment Agency Resolution No. 133, a resolution of the Agency fixing the amount of rental, was adopted by unanimous vote on motion of Dr. Miller, seconded by Mrs . Grace. Mr. Merritt presented a draft of "Disposition Draft and Development Agreement - Redlands Mall" for D.D.A. consideration by the Agency members prior to the meeting of May 21, 1974. Receipt of this document was acknowledged by all members . Mr. Merritt at this time presented the Architec- tural Contract between Charles Kober Associates Architec- and the RedetTelopment Agency. This was discussed Lural by all members . Mr. Knudsen recommended that the Contract firm be requested to use local engineers and architects whenever possible. On motion of Dr. Miller, seconded by Mrs . Grace, this contract was approved by unanimous vote. Mr. Knudsen then moved that the firm of Charles Kober Associates be requested to hire local engineers and/or architects whenever possible. Motion seconded by Dr. Miller and unanimously adopted. Reimburse- Following explanation of the Reimbursement Agree- ment ment as an agreement between the Redevelopment Agreement Agency and the City for reimbursement of all Approval monies expended by the City in behalf of the Agency, on motion of Dr. Miller, seconded by Mrs. Grace, a Reimbursement Agreement to the City for any Redevelopment costs was unanimously approved. At its meeting of April 16, 1974, the Redevelop- ment Agency approved an agreement with the Agreement firm of Hicks and Hartwick for topography and Topography boundary work. Following discussion, a similar and agreement to apply to the area bounded by Boundary Work Orange Street, Redlands Boulevard, Eureka Street and the Southern Pacific tracks in the amount of $3, 600.00 was unanimously approved on motion of Dr. Miller, seconded by Mrs. Grace. Mr. Eugene Malone brought the congratulations of the Downtown Business Association to the Council and Redevelopment Agency for progress to date, and congratulated Mr. Knudsen for recommending the use of local people whenever possible. There being no further business, the Redevelop- ment Agency adjourned to a regular meeting on May 21, 1974 immediately following the Planning Session of the Council. ATTEST: Sec y q` firman of the Redevelj'pment Agency