HomeMy WebLinkAbout1976-1221 rda_CCv0001.pdf 176
MINUTES of a regular meeting of the Redevelopment Agency
of the City of Redlands, held in the Council
Chambers, Safety Miall, 212 Brookside Avenue, on
'' December 21, 1976, at 3 : 35 R.M.
177
PRESENT Charles G. DeMirjyn, Chairman
gg _ Chresten M. Knudsen, Vice Chairman
Ellsworth E. Miller, Member
Bertha Rose Grace, Member
Warren R. Elliott, Member
Robert H. Mitchell, Acting Executive
Director
Edward F. Taylor, City Attorney
Peggy A. Moseley, Secretary
Erwin S . Hein, Redlands Daily Facts
Pat Sheeran, San Bernardino Sun
ABSENT None
The minutes of the regular meetings of October 19
and December 7, 1976, were approved as submitted.
Mr. Mitchell reported that he had met with the
Mall developers and that not all information was
available, but that he felt that the City must
still adhere to the instructions as outlined in
the previous minutes concerning the approval of
191- the Sale-Leaseback Agreement.
The Sale --Leaseback was discussed briefly, and the
Agency members concurred that in the negotiations
nothing must be jeopardized for the Agency, and
expressed concern that the requirements outlined
Mall Property previously be adhered to. Mr . Mitchell reiterated
Sale- his conviction that the property on which the Mall
Leaseback is constructed must be on the tax roll by March 1,
1977. He also repeated that if the Sale-Leaseback
proposal is not settled by December 24, it will be
necessary for the applicants to return to the
Agency.
Mr. Mitchell then presented a Summary of Refunding
Alternatives in connection with the proposed bond
issuance. The Agency members discussed these vari-
Refunding ous alternates, and on motion of Member Knudsen,
Alternatives seconded by Member Grace, unanimously approved.
r Alternative No. 2. This would develop a princi-
pal amount of refunding bonds of $4, 500, 000.00,
with no Agency contribution, with 1999 as the
a .
p final maturity date, and with an annual bond
service of $574, 692. 00 (excluding the final
year) , for a net savings of $471, 087.00.
On motion of Member Knudsen, seconded by Member
Grace, a grant deed from Jean Chamberlin, successor
trustee under the will of Christina C. Bingman,
Grant Deed deceased, forfhe property at the northeast
Chamberlin corner of Fifth and State Streets, was unanimously
accepted, with the Acting Executive Director
authorized to execute the certificate of acceptance
in behalf of the Agency.
There being no further business, the Agency adjourned
on motion, at 3 :50 P.M.
Next regular meeting, January 4, 1977.
ATTEST:
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