HomeMy WebLinkAboutFEBRUARY 6,1979
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MINUTE
APPROVAL
AGREEMENT
TO NEGOTIATE
(REPUBLIC
DEVELOPMENT)
RESOLUTION
ARA 51
I
ADJOURNMENT
MINUTES
ARCADIA REDEVELOPMENT AGENCY
REGUIAR MEETING
FEBRUARY 6, 1979
The Arcadia Redevelopment Agency met in regular session on
February 6, 1979 at 8:30 p.m. in the City Hall Council Chamber.
PRESENT:
ABSENT:
Members Margett, Pellegrino, Saelid, Parry
Member Gilb
On MOTION by Member Margett, seconded by Member Pellegrino and
carried unanimously Member Gilb was excused.
On MOTION by Member Saelid, seconded by Councilman Margett and
carried unanimously the minutes of the December 5, 1978 meeting
were APPROVED.
A proposal has been submitted to the Agency by the Republic
Development Company seeking the assistance of the Agency in
locating a site for the development of a minimum of three hundred
thousand sq. ft. of office, retail commercial and hotel development
on property located within the Central Redevelopment Project Area.
The area would be bounded on the north by Foothill Freeway (210),
on the east by Fifth Avenue, on the south by the Santa Fe Railroad
and on the west by Second Avenue.
Contents of the Agreement were explored in full by the Economic
Coordinator. Republic would prepare a market study, preliminary
site plans, acquisition and financial data for the purpose of
entering a Disposition and Development Agreement which would result
in new construction in the area. Discussion held on the time
schedule,
Whereupon the City Attorney presented, explained the content and
read the title of Resolution No. ARA 51, entitled: "RESOLUTION OF
THE ARCADIA REDEVELOPMENT AGENCY APPROVING AN AGREEMENT TO NEGOTIATE
WITH REPUBLIC DEVELOPMENT COMPANY FOR THE PURPOSE OF DEVELOPING A
DISPOSITION AND DEVELOPMENT AGREEMENT FOR SITE DEVELOPMENT IN THE
REDEVELOPMENT PROJECT AREA EAST OF SECOND AVENUE."
It was MOVED by Member Saelid, seconded by Member Pellegrino and
carried on roll call vote as follows that the full reading of
Resolution No. 51 be waived and that the same be ADOPTED.
AYES: Members Margett, Pellegrino, Saelid, Parry
NOES: None
ABSENT:Member Gilb
The Agency then adjourned sine die..
ATTEST:
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Secretary ARA .
ARA
2-6-79