HomeMy WebLinkAboutcc min 1984/10/18 (2) MINUTES OF AN ADJOURNED REGULAR MEETING OF THE CITY COUNCIL
OF THE CITY OF CHULA VISTA, CALIFORNIA
Thursday, October 18, 1984 Council Conference Room
5:50 p.m. (Following Agency meeting) City Hall
ROLL CALL
Councilmembers Present Mayor Cox; Councilmen Malcolm, Moore, Scott
Councilmembers Absent Councilwoman McCandliss
Staff Present City Manager Goss, Community Development Director
Desrochers, City Attorney Harron
1. PUBLIC HEARING/RESOLUTION - GIVING PUBLIC APPROVAL TO THE ENTERING INTO OF
FINANCING AGREEMENTS BY THE CHULA VISTA INDUSTRIAL DEVELOPMENT
AUTHORITY FOR THE PURPOSE OF PROVIDING FINANCING TO MARINA
GATEWAY I, LTD.
Marina Gateway I, Ltd. proposes to construct a one-story, 102,000 square foot
industrial building on 5½ acres of land on the west side of Bay Boulevard south of
J Street. The building will be leased to Amex Systems, Inc., a high-tech manu-
facturing firm doing contract business for the Navy and Air Force. The requested
$7.7 million in Industrial Development Bond (IDB) financing exceeds the City's
allocation authority by approximately $3.1 million. Additional allocation authority
is being requested from the County of San Diego pursuant to State regulation
governing the issuance of IDBs.
The Council was informed that the developer has become ineligible for IDB financing
due to several technical issues. These issues involve the total dollar amount of
development planned by the developer which is limited by federal legislation and a
question of eligibility in consideration that the federal government is a prime
customer of the proposed tenant (Amex Systems, Inc.).
Due to this information, the public hearing advertised for this afternoon was
cancelled and no action was taken.
ADJOURNMENT at 5:51 p.m. to the City Council meeting of Tuesday, October 23, 1984,
at7p.m.