Loading...
HomeMy WebLinkAboutFEBRUARY 16,1983 CITY COUNCIL PROCEEDINGS ARE TAPE RECORDED AND ON FILE IN THE OFFICE OF THE CITY CLERK 1 ROLL CALL 1 MERRILL LYNCH REALTY CO. 25:0678A M I NUT E S CITY COUNCIL OF THE CITY OF ARCADIA and the ARCADIA REDEVELOPMENT AGENCY ADJOURNED REGULAR MEETING FEBRUARY 16, 1983 The City Council of.the City of Arcadia and the Arcadia Redevelopment Agency met in an adjourned regular session Wednesday. February 16, 1983 at 7 p.m. in the City Hall Conference Room. PRESENT: ABSENT : Councilmen/Members Dring, Haltom, Hannah. Lojeski, Pellegrino None NOTE: Council/Members Hannah and Pellegrino did not participate in the discussion on the Arcadia Redevelopment Agency matters. Mayor Pro Tempore Lojeski chaired the meeting. Scheduled for this meeting were discussions with: (1) Halferty Develop- ment Company, and (2) Joseph Ruvolo, representinq the Merrill Lynch Realty Company, concerning the purchase and development of the C,ty-owned property at the north-west corner of First and Huntington Drive. Considerable input from the Councilmen/Members concerning adequate park- ing for any development on that corner. It was the consensus that this will be a problem for some time to come. During this consideration Mr. Halferty submitted additional information on his interest in develop- ing the corner.... In response to a question he said in part they are staying away from the medical field..;. This is quite expensive and needs more utilities in the building than they want to construct. He noted that other proposed medical facilities are closer to the hospital than the subject site. Mr. Halferty submitted further in part that he can envision a financial institution on the ground floor, but they did not want to market the building until they have some sort of a contrac- tural arrangement. He said if an agreement is reached, they would look toward closing their escrow in July. Mr. Halferty said they are serious about the proposed venture - that the architect's design of the building will work economically. He left a model of the building and brochures with Council for review. Full financial disclosures will be made avail- able. Joseph Ruvolo, of the Merrill Lynch Realty Company, submitted what development he has in mind: they are willing to pay the asking price for the property which would be paid in cash. He said they do not have a specific development in mind due to the fact that they started late ... however, they have a ground floor tenant, Coast Federal Savings & Loan, and they can have a more definitive plan in two to four weeks.... Would like to submit concrete data. Parking was once again brought up as the primary problem and Mr. Ruvolo said in part they are thinking in terms of a three-story building with on-site parking. Recess was called. Reconvened. It was MOVED by Councilman Dring, seconded by Councilman Lojeski and carried on roll call vote as follows, that staff be directed to address -1- 2-16-83 25:06788 the parking problem immediately and that Disposition and Development Agreements be prepared for both developers. AYES NOES ABSTAIN: ABSENT : Councilmen/Members Dring, Haltom, Lojeski None Councilmen/Members Hannah, Pellegrino None Staff will advise Joseph Ruvolo that the City would be jnterested in his proposal if he comes up with something within two to four weeks. Staff will ask for financial statements from the Halferty Development Company. 1 LAWN MAINTENANCE (subject site) ADJOURNMENT The meeting adjourned at 9:15 p.m. to March 1,1983 at 7 p.m. in the Conference Room to conduct the business of the Council and Redevelopment Agency and any Closed Session, if any, necessary to discuss personnel and litigation matters and evaluation of properties. Council was advised that the Arcadia Business Association will pay $75 per month for maintenance of the landscaping at the site. Mayor ATTEST: ~-€~'~A'b~ City C erk 1 -2- 2-16-83