HomeMy WebLinkAboutrda min 1989/06/20 MINUTES FOR AN ADJOURNED MEETING OF THE REDEVELOPMENT AGENCY'
OF THE CITY OF CHULA VISTA, CALIFORNIA
Tuesday, June 20, 1989 Council Chambers
11:52 p.m. City Hall, 276 Fourth Avenue
ROLL CALL
PRESENT: Chairman Cox, Members Nader, Malcolm, McCandliss
and Moore
ABSENT: None
ALSO PRESENT: Executive Director Goss, Assistant Director
Asmus, City Attorney Harron
1. REPORT: INCREASING THE COLLATERALIZATION FOR A COMMERCIAL
REHABILITATION LOAN TO PAUL J. HENDRICKS FOR THE
REHABILITATION OF HIS PROPERTY LOCATED AT 286 THIRD
AVENUE
The subject loan required Agency concurrence since it exceeded
$75,000 and the Bank of America has determined the maximum loan
they can approve, based on the income accruing from his property,
is $46,000. Staff recommends, pending action by the Town Centre
Local Development Corporation, the Redevelopment Agency approve an
increase in the collateralization of a commercial rehabilitation
loan to Mr. Hendricks totaling $20,000 which will increase the
total loan amount to $66,000.
Redevelopment Agency Coodinator Kassman reported the Local
Development Corporation will meet on Wednesday, June 21 to discuss
this item. '
ftOTION
MSUC ICox/Nader) to approve the staff recommendation.
2. ORAL COMMUNICATIONS None
3. DIRECTOR'S REPORT None
4. CHAIRMAN'S REPORT None
5. MEMBERS' COMMENTS
MEMBER MALCOLM:
a. Report was received on June 19 that the lawsuit involving the
City of Chula V~sta was dismissed.
MINUTES - 2 - June 20, 1989
MOTION
MSUC (Malcolm/Moore) to approve the addition to the Agenda of a
discussion of the litigation in Closed Session because there was
not enough time to place it on the Agenda.
At 11:54 p.m., Agency Members recesse(I into Closed Session to
discuss Brooks vs. Phares.
ADJOURN~IENT AT 12:05 p.m. to the Regular Meeting of July 13, 1989
at 6:00 p.m.
Jennie M. Fulasz, CMC
CITY CLERK
Jean Fortune, CMC
DEPUTY CITY CLERK