HomeMy Public PortalAboutM 1975-05-06 - LRAr
REGULAR MEETING MAY b, 1975
The Lynwood Redevelopment Agency met in City Hall,
11330 Bullis Road, on above date at 11:58 p.m.
Chairman Liewer in the chair.
Members Byork, Green, Liewer, Morris, Rowe answered
the roll call.
Also present were Executive Director Wright and
General Counsel John Murphy.
It was moved by Mr.. Morris, seconded by Mr. Byork,
and carried, that the minutes of the regular meeting
of March 18, 1975, and adjourned regular meeting of
March 20, 1975, be approved as written.
MANAGEMENT STUDIES AND REPORTS
The Director presented a report on purchase of property
owned by the City of Lynwood in accordance with preliminary
appraisals submitted by the firm of John Donahue Co., Inc.
and recommended adoption of RESOLUTION NO. LRA 75 -1
ES. LRA 75 -1 entitled* "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT
'urchase of AGENCY AGREEING TO PURCHASE REAL PROPERTY FROM THE CITY
prop from City OF LYNWOOD AND AUTHORIZING THE ISSUANCE OF A NOTE TO
SAID CITY," and execution of a promissory note in
the amount of $128,438.
It was moved by Member Byork, seconded by Member Morris,
that Resolution No. LRA 75 -1 be adopted and execution
of the note be authorized.
Mr. Rowe questioned recovery of the money expended
by the City of Lynwood for acquisition of property for
the widening of Long Beach Boulevard. ";9.Hecwas advised
by Mr. Murphy that there will be other opportunities
to recover the difference in the purchase price and
sale price by the City, if, as a matter of policy,
the City wishes to do so.
Mr. Murphy concurred in Mr. Rowe's suggestion that the
funds might be recovered through disposition of the
existing 20 -foot alley.
Roll Call:
Ayes. Members.rilByork, Green, Liewer, Morris, Rowe.
Noes None.
Absent: None.
Report re The Director presented a report on a tax increment
participation finance study being undertaken under the auspicious
in tax increment of the Pasadena Redevelopment Agency. The study will
finance study be done by the firm Anderson, Heiss and Hughes for
a contract price of $36,000. The Director recommended
that the Agency authorize participation in the tax
increment finance study at a cost of $500.
It was moved by Mr. Green, seconded by Mr. Morris,
that the Agency concur in the Director's recommendation.
Roll Call-
Ayes. Members- Byork, Green, Liewer, Morris, Rowe
Noes None.
Absent. None.
d
M.
It was moved by MembeP.1711 Byork, seconded by
Member Rowe, and carried, that the Information
Bulletin concerning proposal received for
development of the Community Commercial Center
be accepted and filed.
' It was moved by Mr. Morris, seconded by Mr. Rowe,
and carried, that the meeting be adjourned.
,%S'ecr tary '
Chairma
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