10/22/1985 - Laserfiche WebLink

Home Browse Search

, I 8 j CONSULTANT AGREEMENTS FOR THE 1985 TAX ALLOCATION BONDS It was moved by Mr. Young, seconded by Vice Chairman Johnson, carried unanimously (5:0) that the Community Redevelopment Agency: and 1. Approve an agreement with E.F. Hutton & Company Inc. for financial consulting services with respect to the tax allocation bond issue in the Downtown, Inter-City Commuter Station, South Main and South Harbor Redevelopment Project Areas; and 2. Approve an agreement with Stradling, Yocca, Carlson & Rauth for bond counsel services with respect to the tax allocation bond issue in the Downtown, Inter-City Commuter Station, South Main and South Harbor Redevelopment Project Areas; and 3. Approve an agreement with Ramseyer, Zerbst and Company, Inc. for fiscal consulting services with respect to the tax allocation bond issue in the Downtown, Inter-City Commuter Station, South Main and South Harbor Redevelopment Project Areas. ORANGE COUNTY TRANSIT DISTRICT TERMINAL AIR RIGHTS DEVELOPMENT REPORT Chairman Griset called upon Roger Kooi, Downtown Development Commission Director, for the staff presentation of this informational item. Mr. Kooi explained the City's participation in a grant application for soft cost funding of the air rights development over the OCTD Terminal, and mentioned that the City had been a partner in sending out the Requests for Proposals. Mr. Kooi introduced Brian Pearson, Director of Development of the Orange County Transit District. Mr. Pearson referred to a federal Urban Initiative Fund Grant, and outlined the plans for six stories of office space and for providing the Terminal with its own frontage on Fifth Street. Mr. Pearson went on to say that there is now a signed letter of agreement and that an executed lease agreement is expected next January. Richard Johns, President of Property Ventures, spoke in his capacity as the developer of the project. Mr. Johns forecast that the entire job would take a year, adding that present financial negotiations are stable and that the building will be compatible with the neighborhood. Mr. Johns also revealed that his company is currently placing an order for the steel, and that the proposed development is expected to enter a Plan Check in November of this year. Chairman Griset thanked Mr. Pearson and Mr. Johns for their report, It was moved by Chairman Griset, seconded by Commissioner McGuigan, and carried unanimously (5:0) that the Downtown Development Commission receive and file the oral and written reports on the Orange County Transit Terminal Air Rights Development. RECESS At 7:45 PM, Chairman Griset called for a brief recess.