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<br />. <br /> <br />Bretcourt was willing to enter into this agreement and <br />proceed with the construction of the bridge on the <br />understanding that the Agency will complete the construction <br />of the bridge by March 31, 1985, approximately 16 1/2 months <br />from the date of execution. He pointed out that, if the <br />Agency failed to complete the bridge by that date, there <br />would be a penalty of $150 per day until the bridge is <br />complete. He added that Bretcourt was asking for this <br />penalty provision because they felt that the timely <br />construction of the bridge would be necessary to the <br />building and to the marketing program they intended to <br />conduct to obtain tenants. The Interim Deputy City Manager <br />stated that the Public Works Director and the City Engineer <br />felt that the estimated figure of $450,000 for this <br />construction was reasonably accurate. He completed his <br />remarks by saying that this had been a long, difficult <br />negotiation and that staff felt the execution of this <br />agreement would be beneficial to all parties in the <br />negotiations. <br /> <br />. <br /> <br />After a lengthy discussion in which both Mrs. McGuigan and <br />Mr. Johnson expressed grave doubts concerning the usefulness <br />of the bridge, it was moved by Mr. Griset, seconded by Mr. <br />Young and carried by a vote of 4:2 (Mrs. McGuigan and Mr. <br />Johnson voting "NO") that the Agency authorize the execution <br />of an agreement between the Community Redevelopment Agency <br />of the City of Santa Ana and B.F.I. XV Realty Fund, Limited <br />for the construction of a pedestrian bridge over Santa Ana <br />Boulevard linking the Civic Center Law Library Plaza with <br />the Sunwest Bank Building and Sasscer Park. <br /> <br />ACCEPTANCE OF CITY-OWNED SURPLUS PROPERTY/SOLICIT PROPOSALS - <br />LA BONITA SITE AT LA BONITA AND PROGRESSO STREETS <br /> <br />It was moved by Mrs. McGuigan, seconded by Mr. Acosta and <br />carried unanimously (6:0) that the Agency: <br /> <br />1. <br /> <br />Accept the conveyance of the La Bonita development <br />site from the City for the consideration of <br />$1,085,000, to be paid upon resale of the property <br />by Agency/ and authorize the Chairman and <br />Executive Director to execute all necessary <br />documents for acceptance of title; and <br /> <br />2. <br /> <br />Authorize staff to solicit proposals for the <br />residential development of the La Bonita site. <br /> <br />. <br /> <br />EXECUTION OF A GRANT DEED CONVEYING PROPERTY WITHIN THE A-2 <br />DEVELOPMENT SITE TO BROADWAY IMPROVEMENT COMPANY, INC., A <br />CALIFORNIA CORPORATION <br /> <br />-4- <br />