M-4/28/1981 (2)
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RA-379
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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Project" be withdrawn pending further staff consideration and presentation at a later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.
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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
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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