M-1/22/1980 (3)
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RA-364
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MINUTES OF THE
REDEVELOPMENT AGENCY
OF THE
CITY OF SANTA MONICA, CALIFORNIA
January 22, 1980
7'00 p.m.
The Redevelopment Agency of the City of Santa Monica met in regular session in
the CIty Hall Council Chambers on Tuesday, January 22, 1980. The meeting was
called to order at 7:05 p.m. by Chairman Ba~brick, and roll was called:
MEMBERS PRESENT: John J. Bambrick, Chairman
Ruth Vannatta Goldway, Chair~an Pro Tern
William H. Jennings
Christine E. Reed
Cheryl Rhoden (arrived 7 10 p.m.)
Perry Scott
MEMBERS ABSENT Pieter van den Steenhoven
ALSO PRESENT Charles K. McClain, Executive Director
Joyce Snider, City Clerk
APPROVAL OF MINUTES
The minutes of the August 15, 1979, meeting were unanimously approved by voice vote
followIng a ~otion by Mrs. Reed and second by Mr. Jennings.
PROJECT ACTIONS AND REPORTS
3A Approval of Substitute Contract for
FInancial Consultant Services
Mr. McClain introduced this item and called upon John Herner, Secretary-Treasurer of
the Agency, to respond to questIons from Agency members. A motion was made by
Mrs. Reed to approve a contract, not-to-exceed FIVE THOUSAND DOLLARS (55,000), for
financial consultant servIces with the fir~ of KATZ, HOLLIS, COREN & ASSOCIATES, INC
and to authorIze execution of same by the Executive Director This motion was
seconded by Mr. Jennings, and approved by the following roll call vote.
AYES'
NOES:
ABSENT'
Jennings, Reed, Scott, Ba~brjck
Vannatta Goldway, Rhoden
van den Steenhoven
3Bl Ocean Park Redevelopment Project -
Extension of Promissory Note
Mr McClain presented a report regardIng the extension of the $500,000 PrOMissory
Note to December 13, 1980, and an increase in the interest rate from 7-1/2% to 8%.
Mrs. Reed moved to ratify the extension of the $500,000 Promissory Note with an
increased interest rate.
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Redevelopment Agency -2-
January 22, 1980
The motion received a second by Mr. Jennings, and members voted as follows:
AYES:
NOES.
ABSENT:
Jennings, Reed, Rhoden, Scott, Bambrick
Yannatta Goldway
van den Steenhoven
There being no further business, a motion to adjourn was made by Mrs. Reed and
seconded by Mr. Jennings. Me~bers unanimously approved the Motion by voice vote
and the meeting was adjourned by Chairman Bambrick at 7:17 p.m.