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HomeMy WebLinkAbout05/04/83 MINUTES RA MINUTES BAKERSFIELD REDEVELOPMENT Special Meeting--May 4, AGENCY 1983, The Special Meeting of ute Bakersfield Redevelopment Agency was called to order by Chairman Barton on Wednesday, May 4, 1983, at 5:04 p.m. in the City Council Chambers. The Secretary called the roll as follows: MEMBERS PRESENT: James J. Barton Chris Christensen Thomas Payne Art Rockoff Vernon Strong MEMBERS ABSENT: John Means Donald Ratty CONSENT CALENDAR (a) Approval of Vouchers No. 222 through 258 totaling $310,713.84. ~r. Rockoff made a motion to adopt item (a) of which was carried by the following roll call vote: AYES: Christensen, Payne, Rockoff, Strong, Barton NOES: None ABSTAINS: None ABSENT: Means, Ratty the Consent Calendar '[.~ ] Mr. Payne made a motion to approve Agreement No. RA6-~3~ between the Redevelopment Agency and Laurens Denison ~2or construction inspec'czon services for the 18th and Eye parking structure subjec'a uo the sale of bond and receipt of proceeds from that sale. The motzon was carried by the following roll call vote: AYRES: ?arton, Christensen, Payne, Rockoff, Strong ¥~' '~ ~: ~',' o~le 7~f:.:' ,','~ ii',eans, RatZy (b) Approve Contract between Parr Construction Co. and the Redevelopment Agency for the cons%rucslon of a 544-specie parking structure at 18th and Eye Streets. lit. Saa!field stated that there were two changes mn 'the agree- r~ent wl~ich was mailed to the members of the Agency. fne first change provides any specific alternative sen forth in the Contractor's bid ho any item contained in the Project Manual ~s accepted by the City and zncorporated therein. The second provides that design changes made prmor to the end of the Design Development Phase will 'De incorporated in the contract with an agreed adjustment mn contract price. ?,ir. Christensen made a motion to adopt Agreement No. RA7-83, for ti'lc desmgn and construction of a parking structure at 18th and Eye Streets in the City of Bakersfield subject to the sale of tax allccation bonds, which was carried by the following roll call vote: AY)~S: Christensen, Payne, Rockoff, Strong, Barton NOES: None ABSTAINS: None ABSENT: Means, R~tty (c) Re-adopn Resolution No. RA4-83 of the Redevelopmen~ Agency of nhe City of Bakersfield declaring its intention to sell bonds of said agency zn the amounL of s~130,000, fixing time and place for taking bids and directing publication of notice inviting bids. Mr. Fritz Stradling, of Stradling, Yocca, Carlson & Rauth stated that between the time this resolution was adopted and the financial data was finalized for the official statement, some data had changed slightly. %?hese redrafts of those resolutions provide for those changes that were clarified at the time of re- ceiving bids. Mr. Rockoff made a motion to re-adopt Resolution No. RA4-83, of the Redevelopment Agency declaring its intention to sell bonds of said agency in the amount of $6,130,000, fixing time and place for taking bids and directing publication of notice inviting bids, which was carried by the following roll call vote: AYES: Payne~ Rockoff, Strong, Barton, Christensen NOES: None ABSTAINS: None ABSENT: Means, Ratty (d) Re-adopt Resolution No. RA5-83 of the Redevelopment Agency authorizing the issuance of Tax Allocation Bonds of said agency in a principal amount not to exceed $6,130,000 to finance a portion of the cost of the redevelopment project known as the Downtown Bakersfield Redevelopment Project. Mr. Stradling stated that the main change ~n this resolution is the fact that between the time the Agency first adopted this resolu- tion and today, the staff determined that they would rather pay money out of the Redevelopment Agency fund for the interest due in October 1983 instead of taking that money out of bond proceeds. He stated that the original resolution provided that bond proceeds would be used to fund the first six months interest. Mr. Rockoff questioned staff as to why they initiated the change. Mr. Kelmar stated that it gives the City more money now so that interest can be earned on it. [3r. Payne made a motion ~o re-adopt Resolution No. RA5-83, of the Redevelopment Agency authorizing the issuance of Tax Allocation Bonds of said agency in a principal amount not to excaed $6,130,000 to finance a portion of the cost of a redevelopment project known as the Downtown Bakersfield Redevelopment Project, which was carried by the following roll call vote: AYES: Payne, Rockoff, Strong, Barton, Christensen NOES: None ABS'~AINS: None A]~SENT: Means, Ratty (e) Resolution of the Agency awarding $6,130,000 Downtown Redevelopment Project Tax Allocation Bonds, 1983 to the best bJ_dder, and reject all other bids. ~lr. Stradling stated that the bids received were very good. He stated 'that the best !Did was received from ~errill Lynch White Weld Capital Markets Group which ]nas am interest cost of 8.79469%. the second bid received was from Smith Barney Harris Upham Co., and hhey submitted a bid with a net interesh cost of 8.996686%. The thir6 bidder was Blyth Eastman Paine Webber~ and their net interest was 9.1432%. Mr. Rockoff made a motion to adopt a resolution of the Redevelop- ment Agency of the City of Bakersfield awarding $6,!30~000 Downtown Bakersfield Redevelopment Project Tax Allocation Bonds to the lowest bidder, and reject all other bids. The motion was carried by the following roll call vote: AYES: Rockoff, Strong, Barton, Christensen~ Payne NOES: None ABSTAINS: None ABSENT: Means, R~tty Mr. Strong questioned the kind of material the cables are made of. Mr. Hilazzo stated that the material would be 3/8 to % inch braided steel cables that would be installed in high tension situations. It would cost approximately $20,000 no substitute the panels for the cable. He stated another consideration has been that the alley portion next ~o existing older buildings should not be treated with the panels until some later developmen-~ occurs. However~ we can replace the 18th Street side with masonry. Mr. Rockoff questioned the dimensions between the cables. [Ir. Milazzo stated that the code requirement would be eight inches on center or five strands of cable. ~ir. Xockoff made a aotion to approve the szgnage for 1631-17th Street and Item (a) of the Consent Calendar, and 5o refer the changes ~o staff and direct them to come back ~o the Agency with the issues resolved as ~o cost. The raotion was carried. AYES: Barton, Payne, Rockoff, Strong k5STAINS: None ABSENT: Chri~tensen, Lieans, Ratty BUSINESS [ir. Payne z~ade a motion adopting hhe amended bylaws and appointing as Secretary for the Agency. The motmon was roll call vote: AYES: payne, Rockoff, Strong, Barton ?~OES: None 7~.~STAINS: ?~ one f.~%Si~T: Christense~, ~.ieans, Ratty to approve the Resolution No. 11-83 D. Higginbotham, Jr. carried by the following 5?here being no further business 'co coi.le before the Redevelo.~nEent Agency~ ~r. Rockoff made a motion to adjourn the meeting at 2:25 D.m. .. ~. ,.'{~f_ggln~3otham, Jr. , Secre'~ary Lakersfield Redevelopment Agency ~[ES J. dB~AR%ON~ Chairman Bakersfield Redeve~oment Agency