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HomeMy WebLinkAboutJANUARY 7,1975 ROLL CALL I PARTICIPATION AGREEMENT APPROVED F: /;;,17 I M I NUT E S ARCADIA COMMUNITY REDEVELOPMENT AGENCY REGULAR MEETING JANUARY 7, 1975 The Arcadia Redevelopment Agency met in regular session on January 7, 1975 it 7~30 p.m. in 'th~ Arcadia :Cit~ Hall Council Chamber. PRESENT: ABSENT: Members Gilb, Helms, Lauber, Saelid, Scott None It was explained that property at 153 and 157 East Huntington Drive ,is in escrow for purchase by Frank Winniman who proposes to construct a commercial building and seeks the following assistance fro<1l the Redevelopment Agency: 1) The Agency provide for the demolition of the abandoned' service station. 2) The City or Agency, if required, reconstruct and/or relocate the westerly storm drain catch basin or provide by any other means for a satisfactory system of storm drainage across the property. 3) The City or Agency construct or cause to be constructed, any off-site public improvements required as a result of the new construction (sidewalk and street trees). In return the developer would construct an 8,050 sq. ft. commercial building, dedicate the southerly nine teet of specific lots for street purposes (property needed to widen Huntington Drive to a uniform width on the northerly side of the street between First and Second Avenues), and grant an easement for ingress and egress to the parking district lots immediately to the north of the subject property: Estimated cost to the Agency for its participatory obligation would be $9900. The estimated tax increment return to the Agency from the new development would be $2400 to $2900 annually. Thus it was estimated in the report dated January 3, 1975 that the project should amortize itself within two to four years. Benefits to the community, as sub- mitted by staff, would be as follows: 1) A blighted building would be removed and an unsightly corner would be upgraded. 2) A new building would be constructed 'in a block where there has been no or negligible activity for many years. The area would be upgraded and could stimulate other development interest. 3) The project would add to the tax base and produce tax incre- ment to offset redevelopment cost. Contents of the Participation Agreement were explored and the Ecpnomic Coordinator explained that the City would not demolish the building in question or relocate the storm drain until and unless the developer actually starts construction. ,Member Saelid stated in part that he did not feel the Agency should pay for the demolishing of the building and would like to see that portion of the agreement deleted (Section 215). . He also commented 1-7 -7 5 - 1 - AUTHORIZED SIGNATURES (CRA) ADJOURNMENT that the Towne Centre Building was constructed without the assistance as that proposed for this project. Member Lauber MOVED to approve the Participation Agreement in concept for submission to the developer - with the understanding that the Agency's cost participation would be approximately $9900. Motion seconded by Member Helms. Member Saelid then MOVED to amend the motion - that Section 215 of the proposed Participation Agreement be DELETED. Member Gilb seconded the motion which did not carryon the foilowing roll call vote: AYES: NOES: ABSENT: Members Gilb, Saelid Members He lms, Lauber,. Scott None I Roll call vote was then taken on the primary motion. AYES: NOES: Members Gilb, Helms, Lauber, Scott Member Saelid, as he felt it unfair to the existing businessmen who had constructed commercial buildings without such assistance. None ABSENT: On MOTION by Member Gilb, seconded by Member Helms and carried on roll call vote as follows the City Attorney was instructed to prepare a resolution for the next regul~r meeting authorizing the Agency's Chairman or Vice-Chairman, its Director or the Finance Director, to sign all checks in connection with CRA. Two signatures are required. It was noted that the independent auditors for the City have recommended that a separate bank account be maintained for CRA. AYES: NOES: ABSENT: Members Gilb, Helms, Lauber, Saelid, Scott None None On MOTION by Member Helms, seconded by Member Gilb and carried unani- mously the meeting was ADJOURNED. ~~~~ Chairman ~y~ S;C0?I~ Temporary' Secretary 1 1-7-75 - 2 -