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M-4/28/1981 (3) . . . RA-379 e e MINUTES OF THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA MONICA, CALIFORNIA Apri 1 28, 1981 The regular meeting of the Redevelopment Agency was called to order at 7 48 p.m, by Chairwoman Vannatta Goldway. MEMBERS PRESENT Ruth Vannatta Goldway, Chai~Joman 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 Executive Director requested ite~ 2B(I), "Proposed Agreement Regarding Financing Transaction for the Broadway (Carter Hawley Hale Store, Inc.) - Downtown Redevelopment ProJect" be wi thdravJn pend I ng further staff cons i derat ion and presenta t Ion at a later date. PROJECT ACTIONS AND REPORTS - Ocean Park Redevelopment Project 2A(l) Proposed Amendments to "Contract For Sale of Land For Private ,Redevelopment" Elderly Housing Development The Executive Director called on John Herner, Director of Redevelopment, to present the staff report. Mr. Herner 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 Vannatta Goldway stated. for the record. that the Redevelopment Agency is subsIdizing the price of the land, the California Housing Finance Agency is subsidizing the cost of the mortgage, and the Federal government WI II subsidize cost of rents, so that the 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, lane, Vannatta Goldway Reed There being no further business before the Agency. a motion to adjourn was made by Member Press and second by Member Conn. Members unanimously approved the motion by vOIce vote. At 8.l7 p.m., Chairwoman Vannatta GOldway declared the Agency meetIng adJourned,