HomeMy WebLinkAboutRDA Minutes 1995-10-25 Chairman Robert Yee M I N U T E S
Boardmembers:
Jack Drago Redevelopment Agency
Joseph A. Fernekes
: lohn R. Penna Municipal Services Building
Roberta Cerri Teglia
Community Room
October 25, 1995
AGENDA ACTION TAKEN
CALL TO ORDER: (Cassette No. 1) 7:14 p.m. Chairman Yee presiding.
ROLL CALL: Boardmembers present: Drago, Fernekes, Teglia
and Yee.
Boardmembers absent: Penna.
AGENDA REVIEW AGENDA REVIEW
Executive Director Wilson stated there were no
changes to the Agenda.
CONSENT CALENDAR CONSENT CALENDAR
1. Motion to approve Minutes of the Special Meeting of Approved.
7/19/95 and Regular Meeting of 10/11/95.
Motion to confirm expense claims of 10/25/95. ~q0,~ Approved in the amount of $6,776.99.
M/S Fernekes/Drago - To approve the Consent
Calendar.
Carried by unanimous voice vote.
ADMINISTRATIVE BUSINESS ADMINISTRATIVE BUSINESS
3. Resolution approving the execution of an Owner Interim Director of Economic & Community Devel-
Participation Agreement between the City, Redevel- opment Beyer explained the staff report in detail for
opment Agency, and Martin Metro Inc. for seismic seismic retrofit and rehabilitation of the Metropolitan
retrofit and rehabilitation of the Metropolitan Hotel, Hotel.
220 Linden Avenue, 261 and 265 Grand Avenue.
,5'/~t9 ~ Boardmember Penna arrived at the meeting at 7:20
A RESOLUTION APPROVING AN OWNER PAR- p.m. and did not participate or vote on this matter.
TICIPATION AGREEMENT BETWEEN THE CITY
OF SOUTH SAN FRANCISCO, THE SOUTH SAN M/S Drago/Teglia - To adopt the Resolution.
FRANCISCO REDEVELOPMENT AGENCY AND
MARTIN METRO, INC. FOR SEISMIC RETROFIT Discussion followed: regulatory agreement that
AND REHABILITATION OF THE METROPOLI- maintains the affordability of the units; whether City
TAN HOTEL, 220 LINDEN AND 261 AND 265 staff is part of the selection of contractors; no, that
GRAND AVENUE AND DIRECTING THE EXEC- is the hotel's responsibility, but staff will do all the
UTIVE DIRECTOR TO PREPARE THE PROMIS- review of the documents; how are qualified contrac-
SORY NOTE AND DEED OF TRUST tots defined; the City does not release the funds
10/25/95
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AGENDA ACTION TAKEN
ADMINISTRATIVE BUSINESS ADMINISTRATIVE BUSINESS
Resolution - Continued. until there is a qualified contractor and the promis-
sory note is based on the construction documents;
there is a grant of $50,000 of HOME funds; there
are two loans, one is for the 20% and is at a differ-
ent rate with 30 years at 3 % and the regular is 15
years at 8 % and there is a note wrapped into that of
$100,000; on the 15 year loan, if it is not paid off-
it is forgiven, but in the meantime the owner/
developer gets $60,000 per year; Boardmember
Drago felt uncomfortable with the lack of incentive
to pay off the 15 year loan when it is going to be
forgiven; regardless of how much the hotel makes
the City is putting in a $1.5 million more and there
is no way for us to get the money back; payments
will be applied to the $893,000 loan the City is
making, but the agreement is that $60,000 is paid
first; in return the City is getting 30 years of low
and moderate income units and there is no incentive
to raise the rates to generate income; if the City
loses the low and moderate income housing it must
replace it; etc.
RESOLUTION NO. 4-95
Carried by majority voice vote, Boardmember Penna
did not take part or vote on the matter.
Boardmember Penna returned to the podium at 7:32
p.m.
4. Resolution rescinding Resolution No. 2-95 which Counsel Mattas related: the effect of this resolution
directed the filing of eminent domain proceedings for is to take the prior resolution off the record to con-
the acquisition of certain real property at 124 Linden demn 124 Linden Ave.
Avenue (Giorgi property).
M/S Drago/Fernekes - To adopt the Resolution.
A RESOLUTION RESCINDING RESOLUTION
NO. 2-95, RESOLUTION OF INTENTION TO RESOLUTION NO. 5-95
CONDEMN 124 LINDEN AVENUE
Carried by unanimous voice vote.
GOOD AND WELFARE GOOD AND WELFARE
M/S Fernekes/Drago - To adjourn the meeting.
__ Carried by unanimous voice vote.
)JOURNMENT: Time of adjournment was 7:34 p.m.
10/25/95
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AGENDA ACTION TAKEN
RESPECTFULLY SUBMITTED, APPROVED.
Barbara A. Battaya, Clerk ff./' Robert Yee, Chairman
Redevelopment Agency Redevelopmen: Agency
City of South San Francisco City of South San Francisco
The entries of this Agency meeting show the action taken by the Redevelopment Agency to dispose of an item. Oral
communications, arguments and comments are recorded on tape. The tape and documents related to the items are on
file in the Office of the City Clerk and are available for inspection, review and copying.
10/25/95
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