M-8/1/1967 (2)
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REDEVELOPMENT AGENCY
OF THE
CITY OF SANTA MONICA, CALIFORNIA
August 1, 1967
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 August I, 1967,
at 4: 30 P ./1.
PRESENT:
MEMBERS: J. Lee Schimmer, Jr" Chairman
B. Thomas Barnard, entered at 4:33 P.M.
Clifford Connelly
L. Wayne Harding
James M. O'Brien, entered at 4:37 P.M.
Mortimer T. Richey
James L. Rogers
ABSENT:
MEMOERS: None
ALSO PRESENT:
Eugene B. Jacobs, Agency Legal Counsel
Grace Thomas, Executive Director~Secretary
May Palfrey, Clerk-Stenographer
The Secretary reported that the Notice of Adjournment was posted on
the Council Chamber door on July 25, 1967 and that the affidavit of posting
was on file in the offices of the Redevelopment Agency.
APPROVAL OF MINUTES:
The minutes of June 27. 1967 were approved as mailed.
A PPROVAL OF 61 LLS:
The Secretary reviewed the bills as follows:
John Gray ~ Financial Consulting
Services for June, 1967
Administrative. . . . . . . . . . . . . . $160.00
Shuirman-Ro~oway & Associates
Engineering Consulting Services
Project I (a) . , . . .
$2,000.00
TOTAL BILLS. .
. . . . $2,160.00
Mr. Barnard entered at 4:33 P.M.
Mr. Rogers moved, seconded by Mr. Connelly, that the bills be paid
as submitted, in the amount of $2,160.00. The motion carried with the
following roll call vote:
AYES:
NOES:
ABSENT:
HEMBERS:
MEMBERS:
MEMBERS:
Schimmer, Barnard, Connelly, Harding, Richey, Rogers
None
O'Brien
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Minutes - 8/1/67
Page Two
REPORT Of S~CRETARV:
Project I (a):
Consent to, Transfer - Kern County land Company
A general discussion was held by the Members regarding the transfer
of interest from Kern County land Company to Tenneco, Inc.
Mr. O'Brien entered at 4:37 P.M.
Pro,iect I (a);
~~Jver No.2 - Contract No. Calif. R-37 (LG)
The Secretary requested the Members' approval by motion on Waiver
No.2 to the Loan and Grant Contract for Project No. Calif. R-37, for the
release of the deeds of trust which were being held by the Federal Govern-
ment until such time as the Agency or the City could provide its one-third
share of the net project cost. Mr. Barnard moved, seconded by Mr. Rogers,
that WaiverNo. 2 to the loan and Grant Contract for Project No. Calif. R-37
be accepted by the Agency. The motion carried with the following roll call
vote:
AYES:
Schimmer, Barnard, Connelly, Harding. O'Brien, Richey,
Rogers
MEMBERS:
NOES:
ABSENT:
MEMBERS:
MEi'18ERS :
None
None
Project I (a) ;
A~~it Report - Tax Allocation Bonds Funds
The Secretary explained to the Members that the Agency was required
to provide an annual financial statement by a C.P.A. on the Tax Allocation
Bonds Funds and that the firm of Harry L. Nourse Audit Company had pre-
pared said reports in the past for the Agency; therefore, she recommended
that the proposal submitted by this firm for a fee not to exceed $800.00
be accepted. Discussion followed. Mr. O'Brien moved. seconded by
Itr. Connelly, that the- proposal from the Harry l. Nourse Audit Company
to prepare the audit statement for the Tax Allocation Bonds for a fee
not to exceed $800.00, based on the stated hourly rates, be accepted by
the Agency. The motion carried with the following roll call vote:
AYES:
Schimmer, Barnard, Connelly, Harding, OIBrien, Richey
Roge rs
MEMBERS:
r10ES :
ABSENT:
MEMBERS:
MEMBERS:
None
None
Project ICa):
Q~~rterty Balance Sheet and Financial Report
The Secretary submitted to the Members the Project Balance Sheet
as of June 3D, 1967 and the Investments Report for the quarter ending
June 30, 1967 for the Project Expenditures Account and the Temporary
loan Repayment Fund. Discussion followed on the contents of said reports
and on one of the changes appearing on the proposed Amended Redevelopment
Plan for Project lea). The Members then set the date of the public hearing
before the Agency on the Amended Redevelopment Plan as August 29, 1967, at
4:30 P.M., in the City Council Chambers. It was suggested that the regular
meeting of August 22, 1967 be adjourned to 4:00 P.M. on August 29, 1967.
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Minutes - 8/1/67
Page Three
Project I(b):.
Q,uarterly Balance Sheet and Financial Report
The Secretary submitted to the Members the Project Balance Sheet
as of June 30, 1967 and the Investments Report for the Project Expendi-
tures Account and the Temporary Loan Repayment Fund for Project l(b).
Upon Mr. Barnard1s questioning, the Secretary and the Members entered
into a discussion on the status of Project I(b).
There being no further business to be brought before the Members,
Mr. Richey moved, seconded by Mr. Connelly, that the meeting be adjourned.
The motion carried with a unanimous voice vote.
The meeting adjourned at 5:27 P.M.
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