HomeMy Public PortalAboutM 1984-01-05 - LRAM 1 i j
SPECIAL MEETING JANUARY 5. 1984
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The Lynwood Redevelopment Agency of the City of Lynwood met
in a Special meeting in the City Hall, 11330 Bullis Road,
on above date at 7:19 p.m.
Chairman Morris in the chair.
Members Byork, Henning, Rowe, Thompson, and Morris answered
the roll call.
Also present was. Executive Director Gomez.
The Mayor stated the purpose of the meeting was to discuss
the developer deposit on exclusive negotiating agreement
with Rollins Construction.
The City Manager stated in regards to the developer deposit Deposit by
on exclusive negotiating agreement, Mr. Rollin 's agreement Mr. Rollins
terminates on January 6, 1984, and he had deposited $25,000
"Good Faith Deposit." When this negotiation agreement termi-
nates or when the Agency and developer enter a DDA, then
the Agency shall return the deposit less an amount equal to
its expenses in carrying out such negotiations, unless the
developer has not negotiated in "Good Faith," in which event
the Agency shall retain the entire amount.
Chairman Morris stated that the "Good Faith Deposit" is in Deposit voted
an interest bearing account, and we could return the deposit to be returne
and keep the interest to offset any costs. After discussion to Mr. Rollin
it was moved by Mr. Morris, seconded by Mr. Byork, that the
Agency return the $25,000 "Good Faith Deposit" to Mr. Rollins.
ROLL CALL
Ayes: Members Byork, Henning, Rowe, Thompson, Morris
Noes: None
Absent: None
It was moved by Mr. Thompson, seconded by Mr. Byork, and
carried, that the meeting be adjourned to the regular meeting
of January 17, 1984, in the Council Chamber, 11330 Bullis Road,
Lynwood, CA
SecretaryL�a