HomeMy Public PortalAboutM 1977-03-15 - LRAJa
REGULAR MEETING MARCH 15, 1977
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The Lynwood Redevelopment Agency met in a regular session
in the City Hall, 11330 Bullis Road on above date.
Mr. Rowe in the chair.
Members Byork, Green, Higgins, Morris and Rowe answered
the roll call.
Also present were Executive Director Valliere and General
Counsel Murphy.
Members of the Agency were informed by the Executive
Director that a development'proposal has been received
and has been analyzed for consideration by the agency.
Three alternatives have been proposed and one will be
recommended to be taken back to the developer for comment.
Mr. Frank Fargo of Wainwright and Ramsey reviewed the
document entitled "Financial Analysis of Proposed Ericson
Development for the Lynwood Redevelopment Agency,
February, 1977." Mr. Fargo explained in detail Alterna-
tive Proposals Nos. I, II and III. The analysis.
concluded that Developer's Proposal No. III appears
feasible.
The details of the analysis were discussed at length by
the Agency and it was moved by Mr. Byork, seconded by
Mr. Green, that the staff be authorized to send a
counter proposal along the lines described in the
Financial Analysis, dated February, 1977, specifically
with respect to counter proposal based on Alternative
No. III.
Roll Call:
Ayes: Members Byork, Green, Higgins, Morris, Rowe.
Noes: None.
Absent. None.
It was moved by Mr. Byork, seconded by Mr. Morris, and
carried, that the meeting be adjourned.
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Development
Proposal
discussed
Counter
proposal
auth.
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