HomeMy WebLinkAboutMAY 15,1979
IMU
CALL
PROPERTY
ACQUISITION
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ADJOURNMENT
1
MINUTES
ARCADIA REDEVELOPMENT AGENCY
REGULAR MEETING
MAY 15, 1979
The Arcadia Redevelopment Agency met in regular session
on May 15, 1979 in the Arcadia City Hall Council Chamber,
PRESENT:
ABSENT:
Members Parry, Pellegrino, Saelid, Margett
Member Gilb
It was MOVED by Member Saelid, seconded by Member Pellegrino and
carried that Member Gilb be excused.
The Executive Director submitted a proposed agreement for the
acquisition of the property of the former Thrifty Drug Store
at 65 E. Huntington Drive in the amount of $205,000. It is
proposed that the funds required for this acquisition will
be advanced to the Agency by fue City as part of a Disposition
and Development Agreement for the site to be executed by the
American Savings and Loan Association. It was also submitted
that if the process of the ratification of the Disposition
and Development Agreement (including public hearings) exceeds
the time established for the close of escrow that the Agency
authorize the use of Agency funds for the purpose of acquiring
the property until the Disposition and Development Agreement
has been finalized.
It was MOVED by Member Pellegrino, seconded by Member Saelid
and carried on roll call vote as follows that the Executive
Director be AUTHORIZED to take all steps, sign all documents
and instruments in form and content approved by the Agency
General Counsel (including but not limited to the Acquisition
Agreement) necessary to implement and carry out the acquisition
of 65 E. Huntington Drive.
AYES:
NOES:
ABSENT:
Members Parry, Pellegrino, Saelid, Margett
None
Member Gilb
The meeting adjourned sine die.
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Secretary, ARA
ARA
5-15-79