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