HomeMy Public PortalAboutCity Council_Minutes_1974-12-02_Special 19741 INITIATION:
CITY OF TEMPLE CITY
JOINT MEETING
CITY COUNCIL/COMMUNITY!-REDEVELOPMENT AGENCY
MINUTES
December • 2; 1974
1. Mayor' Dennis. called- th-e-- special - meeting.. o f : the -Joint-Meeting of the
City Council and the-Temple-City Conimurrity--Redev-eIopment -Agency to
order -at 7:30 p.m.-in the-north-meeting-room of the City Hall.
2. ROLL CALL:
Present: Councilmen-Gilbertson , Greenberg ,Merritt , Tyrell , Dennis
Absent: Councilmen-None
Also Present: City Manager Koski, City Attorney Martin, Planning
Director- Dragicevich
ADJOURN TO EXECUTIVE SESSION:
On motion by Councilman Tyrell, seconded-by Councilman Gilbertson,
- Council/Agency adjourned at 7:31 p .m. to an Executive Session to confer
with City Attorney and general counsel- to the Community Redevelopment
Agency on legal matters applicable-to -the Rosemead Boulevard Redevelopment
Project.
Tom Parrington, representative-of the legal firm of Eugene Jacobs, Special
Counsel to the Agency-, arrived‘ at 8:00 p.m.
ICouncil/Agency -reconvened at 8:45 p.m., all members being present.
3. RESOLUTION NO. CRA-33: AMENDING THELEGAL DESCRIPTION OF THE SITE. IN
• THAT CERTAIN LEASE AGREEMENT' DATED-'AS' OF- DECEMBER 1; 1974
Executive Director Koski -presen-ted-.backgraund7-information, stating
the- Agency -had previously- approved- Iegal--._ des cript ion- prepared for
-Agency by the County- Engineer-which was 'made 'a-- part of the Disposition
• and Development -Agreement- and-certain other-documents previous ly
approved-by the Agency: - Title Insurance - and- Trust Company , who has
reviewed • the legal, description;--suggests. certain.- changes thereto in
the method-describing said Site-, which:does not change the area
described. Mr.- Koski- recommended- their ' request for amendment be
• approved.
Mr. Tyrell moved' to adopt Resolution No. CRA-33-A RESOLUTION OF THE
TEMPLE CITY -COMMUNITY-REDEVELOPMENT-AGENCY 'AMENDING' THE LEGAL
DESCRIPTION- OF THE 'SITE IN-THAT CERTAIN'LEASE -AGREEMENT-DATED AS OF
DECEMBER' 1, 1974' BETWE-EN -SAID'. AGE-NCY'AND`" THE"- CITY -OF -TEMPLE CITY,
seconded by' Mr;- Gilbertson-and carried.
4. Mr. Tom Parrington' reviewed the-Disposttion And-Development Agreement,
the' estimated acquisition-costs of the-site; lease revenue 'parking
bonds and cash flow analysis of the- lease-revenue proceeds, and the
funds required for the acquisitien of the pad area. City Council and
Agency requested written-opinion-from-Mr: Parrington that the proposed
Disposition and Development- Agreement contains no contingencies that
would allow the developer entities' to terminate after the Agency had
delivered the bonds and-received the-proceeds and _commenced with the
• project.
City Council and Agency also requested Mr.. Parrington' s written
opinion pertaining to the adequacies of those prbvisions providing
1
1
1
Special- Meeting- - -19-74:_---.-Page 2
for the protection -of :the Agency in -the eventYof default by the
developer; and additionally, what -penalties: the.:-Agency would have
to contend -with- in the event their-inability-to perform in
accordance with -the,- Disposition- and-Development - Agreement
5. ADJOURNMENT:
• ---.0n-motion--br-Councilmart5.Tyrell.,s-edondedtbyzeouncilm=.Gr eenberg ,
meeting: ..adiourned):',at,•9:,:v145:1-..pl,';'=:-P-7::Nextregutars,:Trieettngs'sof-- th e City
Council,-and-Community:T:Red&7eIopmentgencyllYeAteld:•-Tues day •
De t ember, 1974 7: -:Try-.7,-In-,--ttreeottncil,'-.Ch-arifberof,-th-e-- City Hall.
ATTEST:
Ch ef • Deputy City -Clerk/Seeretary
MAYOR/'CHAIRMAN
12,