04/21/1987 - Laserfiche WebLink

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. project. They stated that one thing that was unique about the project was its need for strong security measures which had caused them to design the buildings with inward orientation. In response to a question from Vice Chairperson McGuigan, they explained that there would be two towers which would be integrated at the second and third floors. They pointed out that there would be approximately three hundred thousand square feet in the development, that sufficient parking would be provided, and that the traffic circulation would be acceptable to the City. Mr. Truax then addressed the Agency and stated that the first phases of their studies had been ddne and time had been taken to architecturally understand the site. He added that the Truax-Miller Development Company needed a ISO-day Exclusive Right to Negotiate to complete their studies, to negotiate with the other property owners in the A-16 site, and to be able to tell the Agency what Truax-Miller may require in the form of financial assistance. . In response to a question from Commissioner Pulido, Mr. Truax . stated ,thaL" Bush H Street....,would...,be..kept..open.nto .automobiles and that there would be a walkway for pedestrians at the second level, adding that the development would require the closing of Second Street and possibly Spurgeon Street. In response to further questions, Mr. Truax stated that there will be a great financial risk in undertaking this project and that Truax-Miller is spending a great deal of time on the leasing-up of the buildings. He added that there were no experts on the building of jewelry marts because there were so few of them in the United States. He pointed out that he is a former Vice-President of Inland Steel who constructed the Los Angeles jewelry mart and, through that experience, he had acquired expertise in the field. In response to Agency Member Pulido's remarks regarding the $3 Million which had been allocated to the development of the A-16 site and then had been transferred to the Bower's expansion program, the City Manager stated that there is no money allocated for the A-16 site at the present time. . Mr. Woodrow Butterfield, the property owner of 220 E. Third Street, addressed the Agency and stated that he and his tenants were in attendance to ask that his property be exempted from this proposed development. He pointed out that he had done extensive remodeling of his property on two occasions at the request of the City of Santa Ana. Chairman Young responded to Mr. Butterfield, telling him that as the project proceeded the Agency would be looking at the 3.