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HomeMy WebLinkAbout1975-0603 rda_CCv0001.pdf MINUTES of a regular meeting of the Redevelopment Agency r ri; of the City of Redlands held in the Council Chambers, Safety Hall, 212 Brookside Avenue on June 3, 1975 at 3 :30 P„M. PRESENT Jack B. Cummings, Chairman Ellsworth E. Miller, Vice Chairman Charles G. DeMirjyn, Member Chresten M. Knudsen, Memger Bertha Rose Grace, Member R. P. Merritt, Jr. , Acting Executive Director Bill Brunick, Deputy City Attorney Peggy A. Moseley, Secretary Erwin S. Hein, Redlands Daily Facts Pat Sheeran, San Bernardino Sun ABSENT None The minutes of the regular meeting of the Redevel- opment Agency held on May 201, 1975 were approved as submitted. Acting Redevelopment Agency Director Merritt presented a document whereby the Redevelopment 4� Agency of the City of Redlands consents to and �� 5 VIN approves the Assignment by Howard E. Connor, as Developer under the Disposition and Development Agreement by and between the Redevelopment Agency Assignment of the City of Redlands and Howard E. Connor for of development of the Redlands Mall portion of Redlands Agreement Redevelopment project, of all of his rights, title and interest under said Disposition and Development Agreement and in and to the real property hereto- fore and hereafter conveyed by the Redevelopment Agency of the City of Redlands pursuant to said Disposition and Development Agreement, to R-J In- vestments, a California corporation. Mr. Merritt briefly explained the document and intro- duced Mr. Richard Jones, President of R-J Invest- ments. Mr. Jones expressed his interest and enthu- siasm for the project; explained that as a developer r, whose business is centered in Newport Beach, he will be better able to keep in touch with the project than Mr. Connor would have been able to. He added "ls - that Mr. Connor is being retained as a consultant. Mr. Jones described his background and his many shopping center developments. Mr. Jones added that there is national interest in the Redlands develop- ment. Member DeMirjyn and Member Knudsen questioned Mr. Jones ' feeling on the location of the K--Mart project. Mr. Jones explained that the K-Mart project is quite different from this project and he has no concern about it. Following an informal discussion with Mr. Jones, on motion of Member Miller, seconded by Member Grace, unanimous approval was given the consent to and approval of assignment. In his presentation Mr. Jones explained some of the problems which had caused a delay in the Harris Com- pany agreement. Mr. Jones stated that he would hope VIR to start construction by the end of July and open in September, 1976. Mr. Ken Brown. of Coldwell Banker addressed Council briefly, explained that there is much interest from many national firms, and added that a fall opening always is more desir- able. Mr. Merritt then introduced Mr. Robert Bulot, finan- cial advisor to the City and president of the firm of Stone and Youngberg. Mr. Bulot was enthusiastic in his encouragement that the project is viable and that the bonding capabilities of the City have not declined. In response to Mr. Knudsen ` s question of any tax value loss, Mr. Bulot explained that the recent tax assessment of the City of Redlands has been quite low and was steadily going down. Mr. Bulot added that he had no second thoughts about selling the bonds. He stated that there was an in- quiry from Nashville, Tennessee, and that the Western Cities Magazine is interested in an article on the project. Mr. Knudsen expressed concern about banding capabil- ities for the East State Street development. Mr. Bulot painted to the side benefits being brought about by the Bank of America and the Bank of Redlands. Mr. Bulot stated that he or Mr. Hyland would be available for a special meeting on June 12 in the event that documents are available for the bond sale. After further discussion, on motion, of Member Miller, seconded by Member Grace, authorization to prepare for the bond sale was given by the following roll Brand call vote: Sale AYES: Members Miller, Knudsen., Grace, Chairman Cummings NOES: Member DeMirjyn ABSENT: None Mr. DeMirjyn stated that he had not received the ",parcel-by-parcel" information that he had requested on the redevelopment project. Chairman Cummings asked that the records show that he himself had received the financial information that he had re- quested. Chairman Cummings expressed his personal delight d pleasure at seeing this project materialize, expressed great satisfaction and admiration for the beautiful McEwen furniture store that has already risen as part of the redevelopment area, and the Bank of America which is rapidly being completed, d thanked everyone present in the audience for their participation.. The June 3 Redlands ]daily Facts arrived and was brought to Chairman Cummings. He read the headlines stating that Harris and. Von's have signed leases. With that, there was an ovation from citizens in attendance, and Mr. Jones of the Chamber of Commerce spore above the crowd to express the citizens ' x appreciation to Chairman. Cummings. "here being nes further business for consideration at this time, the Agency adjourned, on motion. Next regular meeting, June 17, 1975. ATTEST .. irman of the Reclevelopment Agency S6, ry {t£ --o-o-o-o-o-o-o--o-o-o- f,r