M-3/3/1970 (2)
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REDEVELOPMENT AGENCY
OF THE
CITY OF SAHA MOI\ICA, CALIFOR~IIA
March 3, 1970
4:30 P.M.
The Redevelopment Agency of the City of Santa Monica, California, met in
adjourned regular session in the City Council Chambers, on March 3, 1970,
at 4:30 P.M.
The Acting Secretary reported that a ~otice of Adjournment was posted on
the Council Chamber door on February 25, 1970, and that the affidavit of
posting was on file in the offices of the Redevelopment Agency.
PRES HIT :
MEMBERS: B. Thomas Barnard, Chairman
Clifford Connelly
Ted Fach
L. Wayne Harding
J. Lee Schimmer
Philip E. Whiting
ABSEt~T :
MEMBERS: Mortimer T. Richey
ALSO PRESENT:
John Gray, FInancial Consultant
Arnie Friedman, Evening Outlook Reporter
Gary G. Jones, Acting Executive Director-Secretary
May Palfrey, Stenographer
PROJECT ACTIONS AND REPORTS:
Project I (b):
~mendatory Loan and Grant Contract
The Chairman stated that this meeting had been called for the purpose
of approving the Fourth Amendatory Contract amending the Loan and Grant
Contract for Project I(b). The Acting Secretary stated that the contract,
which had been submitted by HUD, contained no changes, with the exception
of the amended increase of the Project Temporary Loan by $120,001, from
$5.056,684 to $5,176,685, and deletion of the maximum 6 per cent interest
rate on the outstanding Project loan. He then introduced Resolution ~'o.
287 (R.A.S.). Mr. Harding moved, seconded by Mr. Connelly, that Resolu-
tion No. 287 {R.A.S.), "RESOLUTION OF THE REDEVELOPMH'T AGH'CY OF THE
CITY OF SANTA Mm'ICA, CALlFOR~JtA, APPROVING ArD PROVIDING FOR THE EXECUTion
OF A FOURTH AMENDATORY COt~TRACT AMEND I ~IG LOAN AND GRANT CONTRACT PO. CA L IF.
R-44 (LG), BY AND BETWEE~J REDEVELOPMHiT AGH'CY OF THE CITY OF SA~'TA MONICA
M'o THE U~IITED STATES OF AMERICA",- be adopted and that further reading b.-
waived. The motion carried with the following roll call vote:
AY:;:S:
NOES:
ABSEf.JT:
Barnard. Connelly, Fach, Harding, Schlmme~, Whiting
None
Richey
MEt1B ERS :
MEI'1BERS :
~1Et"BERS :
Projects 1 (a) and I (b):
Amended Land Disposition Agreement
The Chairman instructed the Acting Secretary to contact Agency
Counsel to request that drafting of the revised Amended Land Disposi-
tion Agreement be completed for submission to the Mewbers at the next
Agency meeting. The Acting Secretary stated that representatives from
Amfac had indicated that they would be available to review and discuss
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Minutes - 3/3/70
Page Two
the Amended Agreement within the next two weeks.
P~rsonnel Committee:
Mr. Connelly reported that to date he had received three applica-
tions for the position of Executive Director.
LEA-HUD Meetin9:
The Acting Secretary stated that the Land Executives Association
and the Dept. of Housing and Urban Development were jointly sponsoring
a meeting in Santa Marla on March 5 and 6 and requested authorization
to attend. Mr. Harding moved, seconded by Mr. Fach. that the Acting
Secretary be authorized to attend the LEA-HUD meeting in Santa Maria,
on March 5 and 6, 1970. if the schedule of Agency business permitted.
The motion carried with a unanimous voice vote.
There being no further business to be brought before the Members,
Mr. Schimmer moved, seconded by Mr. Conne~ly, that the meeting be
adjourned. The motion carried with a unanimous voice vote. The
meeting adjourned at 5:15 P.M.
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