HomeMy WebLinkAbout09/11/85 MINUTES RA MINUTES
BAKERSFIELD REDEVELOPMENT AGENCY
REGULAR MEETING -- SEPTEMBER 11, 1985
The regular meeting of the
was called to order by Chairman Rockoff
1985 at 5:07pm in the City Hall Council
called the roll as follows:
MEMBERS PRESENT:
James Barton
James Childs
Chris Christensen
Mark Dickerson
Rollie Moore
Art Rockoff
MINUTES
Bakersfield Redevelopment agency
on Wednesday, September 11,
Chambers. The Secretary
MEMBERS ABSENT: Donald Ratty
Chairman Rockoff made a motion the Minutes of the Regular
Agency Member
Meeting of September 11, 1985 be approved as presented.
Childs seconded the motion.
REPORTS
1. Status Report on the financing and planning for the proposed
Convention Hotel.
J. David Kennon reviewed the status of the proposed
Convention Center Hotel and indicated that Mr. Robert Corsaro was pre-
sent to answer any questions regarding the underwriting process for
the financing of the project.
Agency Member Christensen indicated that in the minutes of
the last Agency Meeting, Agency Member Childs posed a question to Mr.
Gorden Bell. Mr. Christensen indicated Mr. Gorden Bell answered that
they have two separate applications at two financial institutions,
therefore there would be no delay, and he should know by the end of
the year which institution would finance the project. Mr. Christensen
asked if there is a time limit that goes with this hotel.
Mr. Corsaro responded to Mr. Christensen and indicated that
there is no time limit established within the agreement. Mr. Corsaro
also said that he had no information that is being witheld regarding
the process. Mr. Corsaro indicated that in all honesty, there are
many things that are out of the control of the developer and the
Agency in terms of dealing with the lenders. Mr. Corsaro indicated
that he just gave an institution that he's dealing with $25,000 for
loan fees.
that.
Chairman Rockoff asked Mr. Corsaro to comment further on
Mr. Christensen indicated that he only wanted to hear him if
had specifics.
Mr. Corsaro spoke and indicated that he had just given one
institution, that he's dealing with, $25,000 for loan fees.
Mr. Christensen asked if this was made to guarantee the loan.
Mr. Corsaro indicated that the form of the check was to
assure the lenders they are serious and ready to finance this development.
Dickerson expressed a concern he has relative to interest
institutions. He asked if the developer is he's shopping
Mr.
and lending
for rates.
Mr.
Corsaro replied that he talked to four people and has two
firm commitments. He also has a third conditional commitment.
Mr. Dickerson expressed that he would like to see the project
built and begin as soon as possible. Placing time limits on the pro-
jects weren't very beneficial. It places much strain on the entire
process.
Mr. Childs indicated that he shares his colleagues concern,
especially Councilman Christensen. Mr. Childs asked the staff if we
could legally and with conditions, give this developer this property,
and if we in some way give this property with the condition that he
sell it back to us, immediately after financing is completed.
Mr. Kennon indicated that the project was complicated because
there was a considerable amount of participation by the Agency.
The Agency is obligated to perform 4.5 million dollars worth of
improvements to the Auditorium. If we give the land away, we
would not be able to carry-out our obligation in doing our portion of
the project.
-2-
Mr.
Committee.
this particular time.
Mr. Corsaro replied that
is needed.
He also asked what can be done to assist Mr.
Christensen suggested the project be referred to a
Corsaro at
a show of support, is all that
Mr. Childs made a motion that the Redevelopment agency go on
record as continuing to totally support this project at this time,
and that the news media, the radio, television, and the community be
made aware that we are in support of this project and that message
should be spread through the banking and development community.
Mr. Moore supported the motion. He asked Mr. Childs if he
would accept a substitute motion to add that we put this matter into
the Redevelopment Agency Committee for the assistance Mr. Corsaro
needs to obtaining the financing.
Mr. Corsaro indicated that if there was some type of resolution,
that would help.
Mr. Childs indicated that he would prefer to be involved
and felt that the entire Redevelopment Agency act as a resource.
Mr. Rockoff referred this matter to the City Attorney.
Mr. Oberholzer replied that the Redevelopment Agency has the
same rules as the City Council with respect to the Brown Act. If the
it must be an open notice,
meeting it is necessary to
Redevelopment Agency sits as a Committee,
public meeting, and if it were a special
have an agenda.
Mr. Childs asked the Agency if they would consider dropping
the portion that it go to the Committee.
Mr. Moore asked Mr. Corsaro that if we went on record as
indicating unanimous support and went a step further and made it a
resolution, would there be any need to go further?
-3-
Mr. Corsaro replied that there was no need to go further
unless it was necessary to call on a Councilman to talk to the
lenders.
Mr. Moore suggested that in that case the Chairman of the
Agency be contacted to speak on behalf of the Redevelopment Agency.
Mr. Moore made a substitute motion that the agency go on record of
support of this project and that it be done in the form of a resolu-
tion that would be available to the developer.
The Chairman asked for a vote of the question and substitute
motion. All members of the Agency voted unanimously.
2. Agency Action/New Business
Goals and objectives developed by DBA for the 19th Street
Specific Plan.
Mr. Rockoff assumed that all goals and objectives have been
read by all members of the Agency.
Mr. Christensen read a letter from a constituent that indi-
cated that it may not be in the best interest to the taxpayers of
this City, County and State who's money we use in redevelopment to
fund any more projects of this nature. Mr. Christensen indicated the
comments he read did not necessarily reflect his opinion.
Upon a motion by Mr. Rockoff, and seconded by Mr. Christensen,
the goals and objectives were unanimously approved.
There being no
Redevelopment Agency, Agency Member
adjourn the meeting at 5:50pm.
further business to come before the
Christensen made a motion to
Arthur L. Roc~off~/-~m~n
Bakersfield Redevelop~r ~Agency
~B r ~o ~,//~,~fo, Secretary
akersi~i~fd Redevelopment Agency
-4-