HomeMy WebLinkAbout08/14/85 MINUTES RA MINUTES
BAKERSFIELD REDEVELOPMENT AGENCY
Regular Meeting--August 14, 1985
The Regular Meeting of the Bakersfield Redevelopment Agency
was called to order by Chairman Rockoff on Wednesday, August 14,
1985 at 5:05 p.m. in the City Hall Council Chambers. The Secretary
called the roll as follows:
MEMBERS PRESENT:
James Barton
James Childs
Chris Christensen
Mark Dickerson
Rollie Moore
Art Rockoff
MEMBERS ABSENT:
Donald Ratty
MINUTES
Upon a motion by Agency Member Childs, the Minutes of the
Regular Meeting of July 24, 1985 were approved as presented.
REPORTS
1. Status report on proposed Convention Center Hotel.
J. David Kennon briefly reviewed the report on the Convention
Center Hotel with the Agency before introducing Mr. Gordon Bell,
Director of Development/Western Region Aricoa.
Mr. Gordon Bell discussed the schedule of events as to the
financing of the Hotel.
Councilman Dickerson asked what the estimated date of com-
pletion of financing might be.
Mr. Bell indicated that construction could start 60 days after
financing was secured. Therefore the Hotel could be ready by early
or late spring 1986.
Councilman Christensen asked if there would be any problems
with the financing institution for the Hotel.
Mr. Bell responded that a hotel project is a high risk loan,
and therefore more difficult to complete, however, he felt con-
fident financing would be completed within 30 days.
Councilman Christensen asked if there would be any bad effects
on the loan for the hotel because of the failure of the Galleria.
Mr. Bell explained that he feels the failure of the Galleria
would have an impact on the general credibility of Redevelopment
but the hotel developers should get their financing and he doesn't
see that the Galleria should effect the loan for the hotel. The
Galleria would have helped considerably.
Councilman Childs asked if there was a problem with the
financing and they had to go to a different financing institution,
how much of a delay would there be on the project.
Mr. Bell commented that they could have two separate applications
at different institutions, therefore there would be no delay. He
should know by the end of the year which institution will finance the
project.
Councilman Rockoff asked if the staff was up to speed with the
project of the hotel.
Mr. Bell responded that he was thankful for
has received from the staff and for the personal
Kennon has given the project.
all the help he
attention Mr.
BAKERSFIELD REDEVELOPMENT AGENCY, AUGUST 14, 1985 PAGE 2
ADJOURNMENT
There being no further business to come before the Redevelopemnt
Agency, Agency Member Rockoff made a motion to adjourn the meeting
at 5:29 p.m.
ARTHUR L. ROCROFF,~
Bakersfield Redeveldpmeny %AJency -
Bake r ~d k'e~d eve 1 opmen t Agency