M-3/28/1978 (4)
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RA-350
MINUTES OF THE
REDEVELOPMENT AGENCY
OF THE
CITY OF SANTA MONICA, CALIFORNIA
March 28, 1978
~ 00 p m.
The Redevelopment Agency and the City Council of the City of Santa Monica met in
joint session in the City Hall Council Chamber on Tuesday, March 28, 1978. The
meeting was called to order at 4 06 p m. by Chairman Swink. Roll was called
PRESENT:
MEMBERS: Donna O'Brien Swink, Chairman
Seymour A. Cohen, Chal rman Pro Tempore
John Bambrick
Christine E. Reed
Nathaniel Trives
Pieter van den Steenhoven
ABSENT:
MEMBERS' Perry Scott
ALSO PRESENT'
James D. Will lams, Executive Director
Richard L. KnIckerbocker, City Attorney
Nancy McFarland, Secretary, Environmental Services
APPROVAL OF MINUTES
The minutes of the January 31, 1978, meeting were approved unanimously by voice
vote following a motion made by Mr. Trlves and seconded by Mr. van den Steenhoven.
PROJECT ACTIONS AND REPORTS
3Al Downtown Redevelopment Project
Authorization of Bid for' Interim FinanCing
Presented at this time was a resolution to be adopted by the City CounCil APPROVING
THE ISSUANCE OF A $3,700,000 PROMISSORY NOTE OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SANTA MONICA, CALIFORNIA Mr. Williams provided background on thiS Item,
and he and Steve Stern, of O'Melveny & Myers, responded to questions. Mr. Trives
moved the introduction of Resolution No ~997 (CCS) by title only, waiVIng further
reading thereof. A second was given by Mr. van den Steenhoven and the motion was
passed by the follOWIng vote:
AYES:
NOES:
ABSENT
Bambrick, Cohen, Reed, Trlves, van den Steenhoven, Swink
None
Scott
Chairman Swink introduced the next item, and Seymour Cohen moved to approve the
resolution of the Redevelopment Agency Declaring Its Intention to Sell a Promissory
Note of Said Agency in the Amount of $3,700,000 for the City of Santa Monica Downtown
Redevelopment Project, FiXIng Time and Place for Taking Bids, and Directing Pub] ica-
tion of Notice Inviting Bids Nathaniel Trives seconded the motion.
John Hemer, Redevelopment Director, and Steve Stern explained the item and responded
to questions. Mr. Stern described changes in the attachment to the resolution, the
Notice Inviting Bids. Following discussion, the vote was called. Agency members
voted as follows:
AYES:
NOES:
ABSENT.
Bambrick, Cohen, Reed, Trives, van den Steenhoven, Swink
None
Scott
Mr. Cohen suggested that the publication of the Notice be 10 days, instead of 5,
before the date of bid opening and that the Notice be published In additional news-
papers. Mr Williams stated that the resolution prOVIdes for a minimum publication,
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Redevelopment Agency/City Council
Karch 28, 1978
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additional coverage would be attained without amendinq the resolution Since
revised copies of the Notice Inviting Bids were expected to arrive by messenger
momentarily, Mr. Knickerbocker suggested the meeting be recessed pending their
arrival. A recess was taken at 4:27 p.~
Chairman Swink reconvened the meeting at 4:42 p.m. A resolution providing for the
Issuance of a S3,700,000 Note to Finance a PortIon of the Cost of the Downtown
Redevelopment Project was distributed to Agency members. Mr Cohen moved to approve
the resolution, subject to the changes outlined by Mr. Stern Mr. Trives seconded
the motion and it was approved by the following vote:
AYES:
NOES:
ABSENT:
Bambrick, Cohen, Reed, Trives, van den Steenhoven, Swink
None
Scott
There being no further business, Mr. Trives moved to adjourn the meeting. The
motion was seconded by /1rs. Reed and members approved it unanimously by voice vote.
Chairman Swink adjourned the meeting at 4:46 p.m.