07/16/1979 - Laserfiche WebLink

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. . . . OLD COURTHOUSE PLAZA The Executive Director reported that the following people requested to address the Agency regarding the Old Courthouse Plaza: Ernest Norton, Al Alves, Thomas Burton, and Tully Seymour. He also stated that he just received a copy of a letter from Lesny Development, dated July 16, 1979, which basically states that Lesny Development offers to purchase the property at a bonus of $4.00 per square foot in excess of the residual calculated by the agency staff (estimated by staff to be $6 to $8 PSF). The bonus would result in the additional sum of $250,000 in cash paid to the agency at close of escrow. A motion was made carried unanimously Development. Mr. Yamamoto, seconded by Mr. Griset and receive and file the letter from Lesny by to Before those that requested to speak were heard, Chairman Ward excused himself from the meeting due to a conflict of interest, and turned the Chair over to Mr. Griset. The following addressed the Agency and reviewed their proposals: Mr. Al Alves and Mr. Ernest Norton of California Federal Teachers Credit Union; Mr. Tom Burton and Mr. Bruce Englebrecht of Newport Law Center. Mr. Tully Seymour, representing the First Presbyterian Church, stated that the Church is concerned about what goes on the site, i.e., the design and the type of use. The Executive Director suggested that, perhaps, the other developers should be given the opportunity to present their proposals. Mr. Walter Scott was called upon, and then Mr. Rudolph LOwy of Lesny Development. Mr. Alexander Nalle, Chairman of the Redevelopment Commission, addressed the Agency reiterating the Commission's recommendation to grant a six month exclusive right to negotiate to the California Federal Teachers Credit Union, stating that the Commission's recommendation involved a combination of aesthetics. A question was raised as to whether the Commission had received the letter from Lesny Development dated July 16, 1979, and if this letter might have an affect on the Commission's recommendation. The Executive Director reported that the Commission had not received the letter as it was just presented prior to the Agency meeting. He further reported that Staff had asked all of the developers (at the same time) to submit a proposal, and this information was not contained in Lesny's original proposal. He further stated that if Lesny is allowed to submit additional information, the other developers may keep coming in each week with additional information to their proposals. The Executive Director also stated that what Lesny is proposing (up-front money) the Agency will do anyway. A motion was made by Mr. Luxembourger and seconded by Mr. Griset to confirm the Redevelopment Commission's selection of the developer and grant a six month exclusive right to negotiate to the California Federal Teachers Credit Union. Before the question was called for, discussion was held regarding the new by-laws change with regards to voting and abstention. The City Attorney advised that abstentions, with the exception of conflict of interest, would be counted as a yes vote. The question was then called for and carried by the following roll call vote: -2-