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Home My WebLink About1979 05 23 CC MIN1979 05 23 CC MIN;¢f4Ê¤CITY COUNCIL/AGENCY MINUTE INDEX ADJOURNED JOINT MEETING MAY 23, 1979 6:00 P.M. Page Absence Councilman/Director Aguilar Excused Introduction of Consultants and Staff Rivergrade Project DDA Modifications 1&2 Agency RES. NO. 63 DDA ADOPTED 2 Council RES. NO. 79-50 DDA ADOPTED 2 6:15 P.M. RECESS 2 Signing of DDA 2 6:20 P.M. MEETING RECONVENED 2 Bond bid explanation and low bidder Smith Barney 2 Agency RES. NO. 64 SELL BONDS/AUTHORIZE ISSUANCE COSTS 3 ADOPTED Agency RES. NO. 65 APPROVE STATEMENT AND DISTRIBUTION 3 TO PURCHASER SAN GABRIEL RIVER PROJECT ADOPTED Move-in Housing Report on future agenda 3 Expressions of Appreciation Mr. Di Dios and Mayor White 3 6:30 P.M. ADJOURNMENT 3 BIB] 37657-U01 1979-U02 05-U02 23-U02 CC-U02 MIN-U02 LI1-U03 FO9591-U03 FO9593-U03 DO9715-U03 C4-U03 MINUTES1-U03 2/4/2003-U04 ROBIN-U04 REGULAR-U05 SESSION-U05 CITY-U06 COUNCIL-U06 1979 05 23 CC MIN;¢f4Ê¤UNOFFICIAL UNTIL APPROVED ADJOURNED REGULAR MEETING OF THE CITY COUNCIL OF THE CITY OF BALDWIN PARK, CITY-HALL, COUNCIL CHAMBERS, 14403 E. Pacific Avenue, THURSDAY, MAY 23, 1979 AT 6:00 P.M. AND ADJOURNED REGULAR MEETING OF THE BOARD OF DIRECTORS, BALDWIN PARK REDEVELOPMENT AGENCY. 00- CITY COUNCIL AND REDEVELOPMENT ROLL CALL AGENCY DIRECTORS: Roll Call: Present: Absent: Also Present: IZELL, KING, MC NEILL AND MAYOR WHITE AGUILAR CITY MANAGER SEXTON, EXECUTIVE DIR. OF CRA) CITY ATTORNEY FLANDRICK, DIRECTOR OF ADM. SERVICES HALLOWAY, DIRECTOR OF COMMUNITY DEVELOP. KELLY, ACTING CITY ENGINEER FRENCH, ADM. ASSISTANT RAPHIEL, BUILDING SUPERINTENDENT DAWSON AND CITY CLERK BALKUS REPRESENTATIVES OF LEWIS/VANGUARD DEVELOPERS, A PARTNERSHIP, KENDALL-JOHNSON COMPANY DEVELOPER, JAMES WARREN BEEBE, BOND COUNSEL, MUNICIPAL SERVICES INC., AND LOEB, RHOADES & HORNBLOWER, MUNICIPAL FINANCIAL CONSULTANTS And: EXCUSE ABSENCE OF COUNCILMAN/DIRECTOR AGUILAR. M/S/C: EXCUSE ABSENCE F. AGUILAR IZELL/MC NEILL. 00- Mayor White said the adjourned meeting of the City Council was for the purpose of conducting a joint and concurrent meeting with the Baldwin Park Redevelopment Agency. PURPOSE OF MEETING RIVERGRADE PROJECT INTRODUCTIONS CONSULTANTS Mayor White introduced Manny Di Dios, President of Municipal Services Inc. who had done a great deal of work on the project. Mr. Di Dios introduced James Warren Beebe, Bond Council, whose efforts insure that the DDA for the Rivergrade Industrial project to be acted upon this date was properly prepared so the Bond sale can proceed. He introduced two members of Mr, Beebe*s staff Tim Sabo and Richard C. Pearson. Mr. Di Dios introduced Jack Me Minor, Vice President of Loeb, Rhodes & Hornblower, Municipal Financial Consultants, of San Francisco who played a lead roll in qettinq excellent bids. He introduced Dwight F. French, Vice President of Municipal DEVELOPERS Services Inc., who in turn introduced Charles Daskow, attorney for Lewis/Vanguard the developer. Mr. French then introduced Richard Lewis, President of Lewis Homes and Jim Swirl, Vice President of Vanguard Builders. Mr. Phil Sexton, City Manager/Executive Director of CRA, STAFF introduced the City Staff who worked on the project William Bill) Raphiel, Administrative Assistant; Dennis Halloway, Director of Administrative Services; Julian Dawson, Building Superintendent who will approve the Lewis/Vanguard Plans. 00- Mr. Sexton said the Council/Agency were asked to approve minor modification amendments in the DDA. The modifications were explained by Mr. French as follows: removal of the Conflict of Interest Clause as this is not required by rnn+innprf DDA MODIFICATIONS BIB] 37657-U01 1979-U02 05-U02 23-U02 CC-U02 MIN-U02 LI1-U03 FO9591-U03 FO9593-U03 DO9715-U03 C4-U03 MINUTES1-U03 2/4/2003-U04 ROBIN-U04 REGULAR-U05 SESSION-U05 CITY-U06 COUNCIL-U06 1979 05 23 CC MIN;¢f4Ê¤Adjourned Regular Meeting of the Baldwin Park City Council and Adjourned Regular Meeting of the Board of Directors, Baldwin Park Redevelopment Agency May 23, 1979 Page 2 State Law; ambiguities were corrected; the bonus clause now states they must have $30,000,000 on the site one year after the development to obtain the bonus. Mr. Sexton read by title Agency: RESOLUTION NO. 63 A RESOLUTION OF THE BALDWIN PARK REDEVELOPMENT AGENCY DETERMINING THAT THE RIVERGRADE COMMERCENTER DISPOSITION AND DEVELOPMENT AGREEMENT ATTACHED HERETO AS EXHIBIT A" IS IN CONFORMITY WITH THE SAME AGREEMENT APPROVED BY RESOLUTION NO. 55 WAIVE FURTHER READING AND ADOPT AGENCY RESOLUTION NO. 63. M/S/C: KING/IZELL. Roll call. There were no objections. 00- AGENCY RES. NO. 63 DDA RES. NO. 63 ADOPTED Mr. Sexton read by title Council: RESOLUTION NO. 79-50 A RESOLUTION OF THE CITY COUNCIL OF THE CITY BALDWIN PARK DETERMINING THAT THE RIVERGRADE COMMERCENTER DISPOSITION AND DEVELOPMENT AGREEMENT ATTACHED HERETO AS EXHIBIT A" IS IN CONFORMITY WITH THE SAME AGREEMENT APPROVED BY RESOLUTION NO. 79-24 WAIVE FURTHER READING AND ADOPT COUNCIL RESOLUTION NO. 79-50. M/S/C: IZELL/KING. Roll call. There were no objections. 00- AT 6:15 P.M. MAYOR WHITE DECLARED A RECESS IN PLACE. The Agency Chairman, Secretary and Attorney signed the San Gabriel River Redevelopment Project Disposition and Development Agreement. The Agency Chairman and Lewis/ Vanguard representatives initialed two final changes in the document. COUNCIL RES. NO. 79-50 DDA RES. NO. 79-50 ADOPTED 6:15 P.M. RECESS DDA SIGNED AT 6:20 P.M. THE MEETING RECONVENED. at beginning of meeting. Roll call same as 6:20 P.M. RECONVENED 00- Mr. Di Dios explained that Agency Resolution No. 64 is a formality which officially says that the Agency does feel that the bids which were received are reasonable; that the recommended bidder has submitted a bid which is in the City's best interest. It awards the bid to Smith Barney and Associates which syndicate submitted the lowest bid; that is a coupon rate of 6%, with a discount for a 3 year period of the proposed bond issue results in a net interest cost of 7.2% to the Agency. They have analyzed other bond issues which have successfully sold in California since January 1979 and find that the low bidder is well within the range that those issues went for. He said, this issue relies upon projections, the good faith of the Developer to actually proceed with the DDA in scheduled performance and generate the tax increment flow indicated in the official statement. The Bonds were opened today in Mr. Beebe's office and he has found that the bids were submit- ted in accordance with the Agency instructions. The closing for this bond issue is programed to occur June 5th. Continued BOND BIDS SMITH BARNEY & ASSOCIATES LOW BID BIB] 37657-U01 1979-U02 05-U02 23-U02 CC-U02 MIN-U02 LI1-U03 FO9591-U03 FO9593-U03 DO9715-U03 C4-U03 MINUTES1-U03 2/4/2003-U04 ROBIN-U04 REGULAR-U05 SESSION-U05 CITY-U06 COUNCIL-U06 1979 05 23 CC MIN;¢f4Ê¤Adjourned Regular Meeting of the Baldwin Park City Council and Adjourned Regular Meeting of the Board of Directors, Baldwin Park Redevelopment Agency May 23, 1979 Page 3 Mayor White read by title Agency: RESOLUTION NO. 64 RESOLUTION OF THE BALDWIN PARK REDEVELOPMENT AGENCY SELLING BONDS OF SAID AGENCY AND AUTHORIZING THE PAYMENT OF THE COSTS OF ISSUANCE WAIVE FURTHER READING AND ADOPT AGENCY RESOLUTION NO. 64. M/S/C: MC NEILL/KING. Roll Call. There were no objections 00- AGENCY RES. NO. 64 SELL BONDS RES. NO. 64 ADOPTED Mayor White read by title Agency: RESOLUTION NO. 65 RESOLUTION OF THE BALDWIN PARK REDEVELOPMENT AGENCY APPROVING THE OFFICIAL STATEMENT AND AUTHORIZING THE DISTRIBUTION OF SAME TO THE PURCHASERS OF ITS SAN GABRIEL RIVER REDEVELOPMENT PROJECT, TAX ALLOCATION BONDS, ISSUE OF 1979 WAIVE FURTHER READING AND ADOPT AGENCY RESOLUTION NO. 65. M/S/C: KING/MC NEILL. Roll Call. There were no objections. 00- Councilman Izell requested that discussion of Move-in Housing be continued to another meeting. There were no objections. AGENCY RES. NO. 65 APPROVE STATEMENT AND DISTRIBUTION TAX BONDS RES. NO. 65 ADOPTED MOVE-IN HOUSING Mr. Kelty said a report on Move-in Housing will be prepared for a future agenda. 00- CONDITIONAL USE PERMIT 281 BE APPEALED BY THE CITY COUNCIL. M/S/C: IZELL/KING. There were no objections. 00- REPORT MOVE-IN HOUSING CP-281 APPEALED Mr. Di Dios said they had enjoyed working with the City Staff MR. DI DIOS and their enthusiasm and dedication and the Agency on this Bond issue. He congratulated the consultants and the developers for their cooperation. He commended Mr. French for his efforts as he had the responsibility for negotiating the final aspects of the DDA along with the Agency attorney. He said that they are pleased they were now able to go ahead with the working capital assured and he appreciated the fact they will be able to work with the Agency as they proceed to the implementation of the actual plan. Mayor White expressed appreciation on behalf of the Council. MAYOR WHITE He said a good deal is a deal where everybody is happy", and throughout the entire proceedings he had not heard a dissent- ing voice. He said this reflects the professional character of the work done, leadership and confidence. 00- AT 6:30 P.M. THE CITY COUNCIL AND THE AGENCY MEETING ADJOURNED. 6:30 P.M. M/S/C: MC NEILL/KING. There were no objections. ADJOURNMENT g-^ HELMA L. BALKUS, CITY CLERK APPROVED: 6 1979. Date of Distribution to Council: u-ist Date of Distribution to Departments: BIB] 37657-U01 1979-U02 05-U02 23-U02 CC-U02 MIN-U02 LI1-U03 FO9591-U03 FO9593-U03 DO9715-U03 C4-U03 MINUTES1-U03 2/4/2003-U04 ROBIN-U04 REGULAR-U05 SESSION-U05 CITY-U06 COUNCIL-U06 1979 05 23 CC MIN;¢f4Ê¤CITY HALL CITY OF BALDWIN PARK BID OPENING May 29, 1979 2:30 p.m. City Clerk Office PUBLICATION OF LEGAL NOTICES July 1, 1979 through June 30, 1980 Baldwin Park Bulletin Box 1259 Covina, CA 91722 Baldwin Park Herald Box 487 Azusa, CA 91702 A) BASIS: Column Inch approximately 1^" wide of 6 point type 10 lines to column inch per Column Inch, First Insertion A) BASIS: Column Inch approximately 1^" wide of 6 point type 10 lines to column inch 2.49 per Column Inch, First Insertion per Column Inch, Each Subsequent Insertion 2.20 per Column Inch, Each Subsequent Insertion B) BASIS: Column Inch approximately 1^" wide of 6 point type 12 tines to column inch B) BASIS: Column Inch approximately l^" wide of 6 point type 12 lines to column inch 2.75 j)er Column Inch, First Insertion 2.50 per Column Inch, First Insertion 2.40 per Column Inch, Each Subsequent Insertion 2.50____per Column Inch, Each Subsequent Insertion I. THELMA L. BALKUS, City Clerk of the City of Baldwin Park, do hereby certify that I opened the foregoing bids in the Office of the City Clerk at 2:30 p.m.. May 29, 1979, in the presence of Dennis Hall oway, Director of Administrative Services, Philip R. Sexton, City Manager and William Kelly, Director of Community Development. BIB] 37657-U01 1979-U02 05-U02 23-U02 CC-U02 MIN-U02 LI1-U03 FO9591-U03 FO9593-U03 DO9715-U03 C4-U03 MINUTES1-U03 2/4/2003-U04 ROBIN-U04 REGULAR-U05 SESSION-U05 CITY-U06 COUNCIL-U06