HomeMy WebLinkAboutJANUARY 3,1984
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ROLL CALL
PROPOSEO
COMMERCIAL
PROJECT
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25:0862a
M I NUT E S
ARCADIA REDEVELOPMENT AGENCY
STUDY SESSION
JANUARY 3, 1984 (6 p.m.)
The Arcadia Redevelopment Agency held a study session on January 3,
1984 at 6 p.m. in the Arcadia City Hall Conference Room for the
primary purpose of discussing a proposal for a commercial develop-
ment at Third Avenue and Huntington Drive.
PRESENT: .Members Dring, Haltom, Pellegrino, Lojeski
ABSENT: Member Hannah
Representatives of Dean A. Beck & Associates were present to discuss
its proposal for the establishment of a commercial development on
the north side of Huntington Drive and Third Avenue. (Those partic-
ipating were:)
Tony Beck, President, Beck & Associates
Russell G. Beckner, Vice President, Beck & Associates
D. MacDonald, Coldwell Banker
Mr. Anderson, C. L. Beck Company
Charles Kober, Charles Kober Associates
Lawrence J. Arceneaux, Jr., Hollis Coren & Associates
Darrell Creamer, Target Stores
Verbal presentation was made by Russell G. Beck and Darrell Creamer.
Slides were shown of the proposed Target Store which could contain
100,000 sq. ft., with approximately an additional 74,500 sq. ft.
of retail. The developer has,agreed to pay for the services of
a redevelopment financial consultant to analyze the financial
implications of the project and the firm of Katz Hollis Coren
was recommended.
Mr. Becknet' described the expenses of his development group and
discussed the preliminary cost of such a development. He detailed
the special section of their proposal, comparing the Target
customers to both the K Mart customers and to the Arcadia resident.
It was noted that they have an option with the Arcadia Datsun
property owner, Robert Lowe. Peter Kiewit, Clifford Bong, Rudy
Henerson are willing to discuss a purchase price. The owners of
the Derby Restaurant are also willin~ to talk about the proposal
and shared parking.
Following further consideration the following actions were taken:
It was MOVED by Member Dring, seconded by Member Pellegrino and
carried on roll call vote as follows that the Agency tentatively
approve the project concept including support for the location
of a Target Store on the subject site:
AYES:
NOES:
ABSENT:
Members Dring, Haltom, Pellegrino, Lojeski
NONE
Member Hannah
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ERN
AGREEMENT
FINANCIAL
ASSISTANCE
EMINENT
DOMAIN
ATTEST:
25:0852b
It was MOVED by Member Dring, seconded by Member Haltom and carried
on roll call vote as follows that the Agency direct staff to prepare
an Exclusive Right to Negotiate with Beck and Associates for the
development of the site for a retail commercial development (i. e.,
Target) .
AYES:
NOES:
ABSENT:
Haltom, Pellegrino, Lojeski
~1embers Dri ng,
None
Member Hannah
It was MOVED by Member Dring, seconded by Member Pellegrino and carried
on roll call vote as follows that the Agency direct staff and the Agency
Counsel to prepare an agreement with Katz Hollis Coren providing for
their consultant services on Beck and Associates' proposals for the I
Third/Huntington site, the cost of such consultant contract to be paid
by the developer, and that the Executive Director be AUTHORIZED to
execute and implement the Agreement in form approved by the Agency
Counsel.
AYES:
NOES:
ABSENT:
Members Dring, Haltom, Pellegrino, Lojeski
None
Member Hannah
At this point Russell Beckner said ,in part they will be looking for
financial assistance from the Agency. It was noted that the Beck
report contains some estimates of sales tax revenues to the City.
It was MOVED by Member Pellegrino, seconded by Member Dring and
carried on a 3 to 1 vote as follows, that, assuming the proforma
estimates are confirmed by the consultant and Agency staff, that
the Agency tentatively concur that the Beck project is a good
investment for the City and Agency, and that the Agency would
consider financial assistance to support this development concept
in the future.
AYES:
NOES:
ABSENT:
Members Dri ng,
Member Haltom
Member Hannah
Pellegrino, Lojeski
It was MOVED by Member Pellegrino, seconded by Chairman LO.ieski ilnrl
failed to carryon the following roll call vote that, assuming the
developer uses his best efforts to acquire all of the land and is
unsuccessful, the Agency would consider the use of the power of
eminent domain for acquisition of a specific parcel.
AYES:
NOES:
ABSENT:
Members Pellegrino, Lojeski
Members Dring, Haltom
Member Hannah
TIE VOTE - MOTION FAILED TO CARRY
In response to a question by ,Chairman Lojeski, Beck and Associates said
they were satisfied with the actions taken by the Agency and would
proceed.
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This Study Session adjourned at 7:20 p.m.
Mayor
~~lfvwl~
C Hy Cl erk
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