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M-4/28/1981 (2) ~ ..... RA-379 e Proposed MINUTES OF THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA, CALIFORNIA April 28, 1981 The regular meeting of the Redevelopment Agency was called to order at 7.48 p.m. by Chairwoman Yannatta Goldway. MEMBERS PRESENT: Ruth Vannatta Goldway, Chairwoman James P. Conn Ken Edwards, Chairman Pro Tem William H. Jennings Dolores M. Press Christine E. Reed Dennis Zane ALSO PRESENT: Charles K. McClain, Executive Director Robert M. Myers, Acting Agency Attorney Ann M. Shore, Recording Secretary The Execu t i ve D i rec tor reques ted item 2B (1 ), 'Ip roposed Ag reernen t Rega rd i ng F i nanc I n9 Transaction for the Broadway (Carter Hawley Hale Store, Inc.) - Downtown Redevelopment Project" be withdrawn pending further staff consideration and presentation at a later date. e PROJECT ACTIONS AND REPORTS - Ocean Park Redevelopment Project 2A(I) Proposed Amendments to ItContract For Sale of Land For Private Redevelopmentll Elderly Housing Development The Executive Director called on John Herner, Di,ector of Redevelopment, to present the staff report. Mr. Hemer and the Agency Attorney responded to questions from Agency Members, Craig Dick, representing the United States Condominium Corporation, spoke before the Agency. During the discussion, Chairwoman Yannatta Goldway stated, for the record, that the Redevelop~ent Agency is subsidizing the price of the land, the California Housing Finance Agency is subsidiZing the cost 0& the mortgage, and the Federal government will subsidize cost of rents, so that Lhe Redeveloper is developing the project basically for the cost of construction and that the construction costs are more substantial than originally presented In the program due to added amenities. Member Conn moved to approve the staff recommendation, as supplemented by the Agency Attorney staff report, amending the Contract For Sale of land For Private Redevelop- ment with the United States Condominium Corporation. Second by Chairman Pro Tem Edwards. The motion was approved by the following vote: AYES: NOES: Conn, Edwards, Jennings, Press, Zane, Vannatta Goldway Reed e There being Member Press vOice vote. adjourned. no further business before the Agency, a motion to adjourn was made by and second by Member Conn. Members unanimously approved the motion by At 8.17 p.m., Chairwoman Yannatta Goldway declared the Agency meeting