M-11/20/1978 (6)
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RA-359
MINUTES OF THE
REDEVELOPMENT AGENCY AND CITY COUNCIL
OF THE
CITY OF SANTA MONICA, CALIFORNIA
~ November 20, 1978 3:00 p.m.
The Redevelopment Agency and the City Council of the City of Santa Monica met in
special joint session in the City Hall Council Chambers on Monday, November 20,
1978. The meeting was called to order at 3:05 p.m. by Chairman Pro Tern Seymour
Cohen and roll was called:
PRESENT'
MEMBERS: Seymour A. Cohen, Chairman Pro Tem
John Bambrick
Christine E. Reed
Perry Scott
Nathaniel Trives
Pieter van den Steenhoven
ABSENT
MEMBERS: Donna O'Brien Swink, Chairman
ALSO PRESENT:
David P. Dolter, Executive Director
Richard L. Knickerbocker, City Attorney
Nancy McFarland, Secretary, Environmental Services
PROJECT ACTIONS AND REPORTS
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2Al Downtown Redevelopment Project
Approval of low Bid for Construction of Public Parking Garages No.7 and No.8
Stan Scholl, Director of General Services, provided a recap of the bidding and
responded to questions from Agency members. After the discussion, Mr. Trlves
moved to approve the award of contract for the construction of the Publ ic Parking
Garages No.7 and No.8 to the lowest bidder, Ernest W. Hahn, Inc., in the amount
of$7,5~8,COO, accepting Alternatives 1, 2, 3, and 5; and award of contract for
off-site Items 1-A and 1-B to Ernest W. Hahn, Inc. in the amount of 539,265.00,
as recommended by staff. This motion was seconded by Mrs. Reed and the vote by
roll call was as follows:
AYES:
NOES:
ABSENT:
Bambrick, Reed, Trives, van den Steenhoven, Cohen
Scott
Swink
2A2 Downtown Redevelopment Project
Approval of Resolution Awarding $14,470,000 Bonds of Redevelopment Agency to
the Best Bidder
New copies of the next three resolutions were distributed to Agency/Council members.
John Jalili, Director of EnVironmental Services, announced the low bid for the
bonds was a net interest rate of 6.6782% submitted by Bank of America. United
California Bank submitted a net interest rate of 6.855373%. Terrance Comerford,
bond consultant with Blyth Eastman Dillon, provided background on this item and
recommended acceptance of the Bank of America bid. A motion was then made by Mr
Trlves to adopt a resolution awarding $14,470,000 in Redevelopment Agency bonds to
Bank of America. Mr. van den Steenhoven seconded this motion and Agency members
voted in favor as follows;
AYES:
NOES:
ABSENT;
Bambrick, Reed, Trives, van den Steenhoven, Cohen
Scott
Swink