HomeMy WebLinkAbout1980-109 Vanir
50, 002-1
RESOLUTION NO . SOLLCg
RESOLUTION OF THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO
FINDING THAT AN APPLICATION FOR
INDUSTRIAL DEVELOPMENT BOND FINANCING
HAS BEEN SUBMITTED PURSUANT TO THE
PROVISIONS OF ORDINANCE NO. 3815 OF
THE CITY BY H. FRANK DOMINGUEZ , AN
INDIVIDUAL, DBA VANIR RESEARCH COM-
PANY, FINDING THAT SAID APPLICATION
COMPLIES WITH THE PROVISIONS AND
REQUIREMENTS OF SAID ORDINANCE NO.
3815; PRELIMINARILY APPROVING SAID
APPLICATION AND THE PROJECT TO WHICH
IT REFERS; FIXING A TIME AND PLACE
FOR THE HOLDING OF A HEARING THEREON;
ORDERING THE PUBLICATION OF A NOTICE
OF HEARING IN THE FORM AND MANNER
PROVIDED BY SAID ORDINANCE NO . 3815;
AND MAKING CERTAIN OTHER FINDINGS
AND DETERMINATIONS IN CONNECTION
THEREWITH
WHEREAS, the City of San Bernardino ( "City"
herein) , is a "home rule city" duly organized and existing
under and pursuant to a Charter adopted under the provisions
of the Constitution of the State of California; and
WHEREAS, pursuant to its home rule powers , the
City duly and regularly enacted Ordinance No. 3815
( "Ordinance" herein) to finance various types of projects,
as defined in the Ordinance, and to issue its special
revenue bonds for the purpose of paying the cost of financ-
ing such projects; and
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5Q ,002-1-1
WHEREAS, said Ordinance No. 3815 is intended to
finance the development of industry and commerce and to
thereby broaden the employment opportunities for residents
of the City and its tax and revenue base; and
WHEREAS, H. Frank Dominguez, an individual,
dba Vanir Research Company ("Vanir" herein) , has submitted
his Application in the form and manner provided in said
Ordinance No. 3815 requesting the City to issue and sell
to Miller & Schroeder Municipals , Inc. ("Underwriter"
herein) , its special revenue bonds as authorized by said
Ordinance for the purpose of financing for Vanir a building
to be used as a branch of the American Security Bank of
San Bernardino of approximately 7, 300 square feet, to
be located at 1555 East Highland Avenue in the City of San
Bernardino, which building, including the land necessary
therefor and for the providing of parking spaces for the
use and convenience of the tenants of and visitors to said
building, and the financing of same, including interest
during construction, costs and expenses of issuing said
bonds, including bond discount, if any, constitute a project
("Project" herein) as that term is used in said Ordinance
No. 3815; and
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WHEREAS, the Coordinator (being the Redevelopment
Agency of the City) , City Attorney, Redevelopment Agency
Counsel, Bond Counsel, the Underwriter and staff of both
the City and the Coordinator have reviewed the Application
and have found that the Project is within and complies with
the spirit, intent and provisions of the Ordinance, and
that the City should proceed with the financing; and
WHEREAS, the City finds that it is in the public
interest to authorize an issue of its special revenue bonds ,
for the purpose of paying the cost of financing the Project
upon such terms and conditions as may then be agreed upon
by the City, Vanir, their successors and assigns, and the
Underwriter;
NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED
AND ORDERED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS :
Section 1 . That the recitals set forth hereinabove
are true and correct in all respects .
Section 2 . That said Application as referred to
in the recitals hereof complies with the provisions and
requirements of said Ordinance No. 3815 .
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Section 3. That said Application and the Project
be, and the same are, hereby preliminarily approved.
Section 4 . That in accordance with the provisions
of Section ll (C) of said Ordinance No. 3815 , a public hearing
shall be held at the time and place and for the purpose set
forth on the "Notice of Hearing" form attached hereto as
Exhibit A and incorporated herein, which notice complies with
the requirements of said Ordinance.
Section 5 . That the City Clerk is hereby directed
to cause said Notice of Hearing referred to in Section 4 hereof
to be published in a legal newspaper of the City in the time
and manner required by Section 6061 of the Government Code
of the State of California.
I HEREBY CERTIFY that the foregoing resolution was
duly adopted by the Mayor and Common Council of the City of
San Bernardino at a meeting thereof, held on the
day of a�cQ� 19800, by the following vote, to wit :
AYES: Councilmen
NOES :
ABSENT:
m el�y i
City Cler
The foregoing resolution is hereby approve is
day of I �.� 1980.
Ma o of t i of San ernardino
Approved as to form:
City Att rney
4 - B50-4 (gl)
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Vanir
50,002-1-1
CITY OF SAN BERNARDINO
NOTICE OF PUBLIC HEARING ON
APPLICATION FOR FINANCING OF A
PROJECT PURSUANT TO ORDINANCE
NO. 3815 OF THE CITY OF SAN
BERNARDINO FOR AND ON BEHALF OF
H. FRANK DOMINGUEZ , AN INDIVIDUAL,
DBA VANIR RESEARCH COMPANY
NOTICE IS HEREBY GIVEN that the Mayor and
Common Council of the City of San Bernardino have accepted
an application from H. Frank Dominguez, an individual, and
have adopted its Resolution entitled:
"Resolution No.
"Resolution of the Mayor and Common
Council of the City of San Bernardino
Finding that an Application for
Industrial Development Bond Financing
Has Been Submitted Pursuant to the
Provisions of Ordinance No. 3815 of
the City by H. Frank Dominguez, an
individual, dba Vanir Research Com-
pany; Finding that Said Application
Complies with the Provisions and
Requirements of Said Ordinance No.
3815; Preliminarily Approving Said
Application and the Project to
Which it Refers; Fixing a Time and
Place for the Holding of a Hearing
Thereon; Ordering the Publication
of a Notice of Hearing in the Form
and Manner Provided by Said Ordinance
No. 3815; and Making Certain Other
Findings and Determinations in
Connection Therewith"
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all for the financing of a commercial building of approxi-
mately 7, 300 square feet, to be located at 1555 East
Highland Avenue in said City (the "Project") and to issue
approximately $995,000 of special revenue bonds therefor
pursuant to Ordinance No. 3815 .
NOTICE IS FURTHER GIVEN that the Mayor and
Common Council will hold a public hearing on the Application
and the proposed Project and its financing as follows :
Date: April 7 , 1980
Time: 2:00 P.M.
Place: Council Chambers
City Hall
300 North "D" Street
San Bernardino, California 92418
on which date, time and place any and all persons interested
may appear and be heard.
GIVEN by order of the Mayor and Common Council of
the City of San Bernardino, California, March 17 , 1980 .
Shauna Clark, City Clerk of the
City of San Bernardino
-2- B50-6 (gl)
11 /l 7 /S2n
Vanir
50,002-1
RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO
FINDING THAT AN APPLICATION FOR
INDUSTRIP.L DEVELOPMENT BOND FINANCING
HAS BEEN SUBMITTED PURSUANT TO THE
PROVISIONS OF ORDINANCE NO. 3815 OF
THE CITY BY H. FRANK DOMINGUEZ, AN
INDIVIDUAL, DBA VANIR RESEARCH COM-
PANY, FINDING THAT SAID APPLICATION
COMPLIES WITH THE PROVISIONS AND
REQUIREMENTS OF SAID ORDINANCE NO.
3815; PRELIMINARILY APPROVING SAID
APPLICATION AND THE PROJECT TO WHICH
IT REFERS; FIXING A TIME AND PLACE
FOR THE HOLDING OF A HEARING THEREON;
ORDERING THE PUBLICATION OF A NOTICE
OF HEARING IN THE FORM AND MANNER
PROVIDED BY SAID ORDINANCE NO. 3815;
AND MAKING CERTAIN OTHER FINDINGS
AND DETERMINATIONS IN CONNECTION
THEREWITH
WHEREAS, the City of San Bernardino ( "City"
herein) , is a "home rule city" duly organized and existing
under and pursuant to a Charter adopted under the provisions
of the Constitution of the State of California; and
WHEREAS, pursuant to its home rule powers, the
City duly and regularly enacted Ordinance No. 3815
("Ordinance" herein) to finance various types of projects,
as defined in the Ordinance, and to issue its special
revenue bonds for the purpose of paying the cost of financ-
ing such projects; and
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vanir
50 ,002-1-1
WHEREAS, said Ordinance No. 3815 is intended to
finance the development of industry and commerce and to
thereby broaden the employment opportunities for residents
of the City and its tax and revenue base; and
WHEREAS, H. Frank Dominguez, an individual,
dba Vanir Research Company ("Vanir" herein) , has submitted
his Application in the form and manner provided in said
Ordinance No. 3815 requesting the City to issue and sell
to Miller & Schroeder Municipals , Inc . ("Underwriter"
herein) , its special revenue bonds as authorized by said
Ordinance for the purpose of financing for Vanir a building
to be used as a branch of the American Security Bank of
San Bernardino of approximately 7,300 square feet, to
be located at 1555 East Highland Avenue in the City of San
Bernardino, which building, including the land necessary
therefor and for the providing of parking spaces for the
use and convenience of the tenants of and visitors to said
building, and the financing of same, including interest
during construction, costs and expenses of issuing said
bonds, including bond discount, if any, constitute a project
("Project" herein) as that term is used in said Ordinance
No. 3815 ; and
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WHEREAS, the Coordinator (being the Redevelopment
Agency of the City) , City Attorney, Redevelopment Agency
Counsel, Bond Counsel, the Underwriter and staff of both
the City and the Coordinator have reviewed the Application
and have found that the Project is within and complies with
the spirit, intent and provisions of the Ordinance, and
that. the City should proceed with the financing; and
WHEREAS, the City finds that it is in the public
interest to authorize an issue of its special revenue bonds,
for the purpose of paying the cost of financing the Project
upon such terms and conditions as may then be agreed upon
by the City, Vanir, their successors and assigns , and the
Underwriter;
NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED
AND ORDERED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS :
Section 1 . That the recitals set forth hereinabove
are true and correct in all respects .
Section 2 . That said Application as referred to
in the recitals hereof complies with the provisions and
requirements of said Ordinance No. 3815 .
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r
Section 3. That said Application and the Project
be, and the same are, hereby preliminarily approved.
Section 4 . That in accordance with the provi-
sions of Section ll (C) of said Ordinance No. 3815, a public
hearing shall be held at the time and place and for the
purpose set forth on the "Notice of Hearing" form attached
hereto as Exhibit A and incorporated herein, which notice
complies with the requirements of said Ordinance .
Section 5 . That the City Clerk is hereby directed
to cause said Notice of Hearing referred to in Section 4
hereof to be published in a legal newspaper of the City in
the time and manner required by Section 6061 of the Govern-
ment Code of the State of California.
PASSED AND APPROVED this day of ,
19
Mayor, City of San Bernardino
[SEAL]
ATTEST:
City Clerk, City of San
Bernardino
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Vanir
50,002-1-1
CITY OF SAN BERNARDINO
NOTICE OF PUBLIC HEARING ON
APPLICATION FOR FINANCING OF A
PROJECT PURSUANT TO ORDINANCE
NO. 3815 OF THE CITY OF SAN
BERNARDINO FOR AND ON BEHALF OF
H. FRANK DOMINGUEZ , AN INDIVIDUAL,
DBA VANIR RESEARCH COMPANY
NOTICE IS HEREBY GIVEN that the Mayor and
Common Council of the City of San Bernardino have accepted
an application from H. Frank Dominguez, an individual, and
have adopted its Resolution entitled:
"Resolution No.
"Resolution of the Mayor and Common
Council of the City of San Bernardino
Finding that an Application for
Industrial Development Bond Financing
Has Been Submitted Pursuant to the
Provisions of Ordinance No. 3815 of
the City by H. Frank Dominguez, an
individual, dba Vanir Research Com-
pany; Finding that Said Application
Complies with the Provisions and
Requirements of Said Ordinance No.
3815; Preliminarily Approving Said
Application and the Project to
Which it Refers; Fixing a Time and
Place for the Holding of a Hearing
Thereon; Ordering the Publication
of a Notice of Hearing in the Form
and Manner Provided by Said Ordinance
No. 3815; and Making Certain Other
Findings and Determinations in
Connection Therewith"
-1- B51-3 (gl)
3/12/80
Vanir
50, 002-1-1
all for the financing of a commercial building of approxi-
mately 7,300 square feet, to be located at 1555 East
Highland Avenue in said City (the "Project") and to issue
approximately $995,000 of special revenue bonds therefor
pursuant to Ordinance No. 3815 .
NOTICE IS FURTHER GIVEN that the Mayor and
Common Council will hold a public hearing on the Application
and the proposed Project and its financing as follows :
Date: April 7, 1980
Time: 2:00 P.M.
Place: Council Chambers
City Hall
300 North "D" Street
San Bernardino, California 92418
on which date, time and place any and all persons interested
may appear and be heard.
GIVEN by order of the Mayor and Common Council of
the City of San Bernardino, California, March 17 , 1980 .
Shauna Clark, City Clerk of the
City of San Bernardino
-2- B50-6 (gl)
3/12/80
APPLICATION FOR
REVENUE BOND FINANCING
PART I GENERAL AND BUSINESS INFORMATION
1 .1 Legal name of the applicant:
H. Frank Dominguez, dba Vanir Research Company
1 .2 Line of Business:
Real Estate Development
1 .3 Mailing Address and Headquarters Address:
P.O. Box 310, San Bernardino, California 92402
Vanir Tower, City Hall Plaza
290 North "D" Street, Suite 900
San Bernardino, California 92401
1 .4 Employer I.D. Number:
95-2489749
1 .5 Name and Title of General Contact:
H. Frank Dominguez - Owner
1 .6 Phone Number of 1 .5:
(714) 884-9477
1 .7 Type of Business Organization: Sole Proprietor
1 .7.1 Place of Organization: San Bernardino, California
1 .7.2 Date of Organization: January, 1964
1 .7.3 Nature of Legal Affiliation or Relationship: N/A
1 .8 Constitution of Ownership of the Company:
H. Frank Dominguez - Sole Proprietor
1 .9 Name and Location of Key Officials :
1 .9.1 Principal Officials:
H. Frank Dominguez - Sole Proprietor
Vanir Tower, City Hall Plaza
290 North "D" Street, Suite 900
San Bernardino, California 92401
1 .9.2 Directors: N/A
1 .9.3 Principal stockholders: N/A
1 .10 Description of Other Business Affiliations of Principal Officer:
Vanir Development Company - Principal Stockholder and Officer
Vanir Tower Company - Principal Stockholder and Officer
Vanir Construction Company - Principal Stockholder and Officer
Vanir Properties - Principal Stockholder and Officer .
Colton Development Company - Principal Stockholder and Officer
Pail of Chicken Company - Principal Stockholder and Officer
Buena Vista Telecommunications Company - Principal Stockholder and Officer
1 .11 Employees:
1 .11 .1 Number of Employees in California: None
1 .11 .2 Locations in California: One
1 .12 Expert Services:
1 .12.1 Applicant's Accountant:
Herb Hinkle
Vanir Tower
290 North "D" Street
Suite 900
San Bernardino, California 92401
1 .12.2 Applicant's Attorney:
D. David Stringer
Vanir Tower
290 North "D" Street
Suite 900
San Bernardino, California 92401
1 .12.3 Architect:
Harnish, Morgan & Causey
500 East "E" Street
Ontario, California
General Contractor:
Vanir Construction Company
Raymond Regalado
Vanir Tower
290 North "D" Street
Suite 900
San Bernardino, California 92401
1 .13 Principal Banks of Account and Name of Officers Handling Account:
Crocker National Bank - Richard S. Koon
PART II BOND ISSUE
2.1 Provide The Estimate Total Amount Of The Financing With A
Tabulation of Proposed Use Of Bond Proceeds , Including:
2. 1 .1 Project Cost - $955,000.00
2.1 .2 Underwriting, legal , printing
and related fees - $ 40,550.00
2. 1 .3 Financing costs and fees (included in 2. 1 .2)
2. 1 .4 Capitalized interest (included in 2.1 .2)
2. 1 .5 Miscellaneous costs (included in 2.1 .2)
2.2 Estimate Target Date Of Financing:
May 1 , 1980
2.3 Estimate Time Of Financing:
30 years
2.4 Type Of Bond Sale:
Private placement, underwritten offering
PART III FINANCIAL INFORMATION:
3. 1 Financial Statements :
Financial information provided to the Redevelopment Agency Bond
Counsel for inclusion in loan package.
3.2 Income (Profit & Loss) Statement:
Same as 3.1
3.3 Analysis Of Sources And Application Of Funds:
Source - Bond Issue
Application - Construction of project
PART IV PROJECT INFORMATION
4. 1 Summary Of Purpose, Objective And Function Of Proposed Project:
The purpose of this project is to design and construct a modern,
attractive bank building to be occupied by a branch of the
American Security Bank of San Bernardino.
4.2 Description of Components And Estimated Total Cost of Functional
Parts Of Project:
4.2. 1 Land $240,000.00
4.2.2. 1 Building $618,500.00
4.2.2.2 Tenant Improvements $ 54,000.00
4.2.3 Equipment -0-
4.2.4 Engineering & technical services 36,000.00
4.2.5 Miscellaneous items 6,517.00
Total Project Costs $955,017,00
4.3 Estimated Construction Period:
Eight (8) Months
4.3.1 Scheduled starting date - Upon approval of IBD Application.
4.3.2 Scheduled completion date - 230 days following start.
4.4 Name and Location Of Supervisiong Or Consulting Engineer Who
Designed Project:
Jerry Eicks
Harnish, Morgan and Causey
500 East "E" Street
Ontario, California 91764
4.5 Location Of Proposed Project:
1555 East Highland Avenue
San Bernardino, California
4.6 Advise As To Whether Project Site Is A New Location:
New location
4.7 Name Of Legal Owner Of Location:
World Savings & Loan Association, a California Corporation
4.7.1 Terms and Nature of Occupancy: Long term land lease
of 84 years, 6 months and 15 days.
4.7.2 Is There Or Will There Be A Legal Realtionship Between
Applicant And Owner Of Location And Nature of Relationship:
Lessor - Lessee relationship
4.8 Description Of Operation To Be Conducted At Project:
Commercial banking facility
4.8.1 81/2 x 11 Map Showing Site: Attached
4.8.2 Description Of Plant Process: N/A
4.9 List Of Environmental Quality Regulations, Standards Or Requirements
To Be Met Within Project:
Not applicable at this time.
4.10 List And Copies Of All Permits, Water Quality Enforcement Orders,
Air Pollution Permits And Variances Or Evidence Of Other Actions
Evidencing Need For Project:
N/A
4.11 Pollution Control Agencies Imposing Applicable Regulations, Standards
Or Requirements For Operations Or Disposal :
N/A
4.12 Regional County Or Basin Plan To Which This Project Is To Conform:
N/A
4.13 By Products Or Residues Of Project:
N/A
PART V PUBLIC BENEFITS
5.1 The benefits that will accrue to the City and its citizens as a
result of the installation of the project and the use of tax
exempt financing vis-a-vis a conventional method include the
following:
(1) The project will provide long-term employment for a
substantial section of the locally unemployed. When
construction on the project site has been completed and
facilities on the site are operational, it is estimated
that an average of approximately 25 jobs will be created.
The categories of jobs to be provided are anticipated to
include mangerial, skilled, and office-professional. The
wages to be paid by the enterprises locating in subject
Project for the employees in various job catergories are
anticipated to meet local and regional standards and to
sustain a satisfactory level of financial stability.
Working conditions in the facilities (all of which will
be newly constructed and are anticipated to be constructed
and accordance with all applicable federal, state and local
laws and regulations) are anticipated to be satisfactory.
(2) Additional benefits anticipated to be attributable to the
construction of said Project and the general economic
revitalization resulting therefrom in the financial district
of the City of San Bernardino, include the reduction of public
assistance expenditures, all because this Project will be
self supporting at no unreimbursed cost to the City.
(3) The construction and operation of the Project anticipated
on this site, is anticipated to add a building whose
approximate market value will be to the city tax rolls.
(4) The use of the method of financing provided for in Ordinance
#3815 of the City vis-a-vis the use of a conventional method
will permit the applicant to move forward with the financing
and construction of the Project within an accelerated time
frame. As the City is well aware, conventional interest rates
are at a historical high levels and many sources of conventional
financing do not currently have funds available to loan at any
interest rate. The method of financing provided in Ordinance
43815 will provide new sources of financing to the applicant
and such financing will be available at lower tax-exempt
interest rates.
5.2 The applicant believes that the construction and operation
of this Project and the financing thereof pursuant to Ordinance
43815 of the City are in conformance with the findings set forth
in Section 1 of Ordinance 43815. In particular:
(1) The Project is anticipated to have a significant impact on
the unemployment problem of the City without imposing a
financial burden on the City.
(2) The Project will not produce detrimental effects on, or
conflict with, or otherwise restrain State efforts to
solve problems of legitimate State concern.
(3) The applicant has legitimate, long-term business reasons
for construction and operation of said Project including
the long-term profit potential from said operation. The
financing of said Project under the method provided by
Ordinance 43815 will provide additional financing sources
to the applicants at lower tax-exempt rates and will enable
the time schedule for construction of said Project to be
accelerated.
(4) The City will only provide a method of financing the Project
and will only be paid certain fees to reimburse the City for
costs incurred by the City in connection with the financing
of said Project. The City will not realize a profit in such
a manner as to compete with or rival private firms and the
applicant is not requesting the City to take any more action
than is necessary to consummate the financing. As described
in Part 5.1, certain incidental benefits will, of course.
accrue to the City as a result of the construction of said
Project.
(5) The City will receive a substantial benefit from construction
of said Project that exceeds any detriment incurred by the
City. The Project will be absolutely self-supporting.
Ordinance #3815 and the documents pursuant to which any bonds
issued by the City to finance the Project provide or will
provide that such bonds are limited obligations of the City,
payable only from revenues generated by the Project and that
all fees and expenses incurred by the City in connection with
the Project will be required to be paid by the applicant.
Indirect benefits such as the increase in the property tax
base and increases in other taxes and user fees are anticipated
to exceed any indirect detriments to the City such as increases
in costs of police, fire and other municipal services.
(6) The applicant will not take any action that will result in a
violation of any applicable State standards relating to sewage
disposal and will provide the City with a satisfactory plan
for the disposal of any anticipated wastes.
PART VI COMMITMENTS
6.1 The Applicant hereby agrees and commits to comply, and/or to
assist the City in complying, with all state and federal laws
in the issuance of the Bonds, including, without limitation,
the making of any required application to a governmental department,
for authorization, qualification or registration of the offer,
issuance or sale of the Bonds, and any amendments thereto, any
permit or other authorization of such governmental department,
prior to the delivery by the City of the Bonds.
6.2 The Applicant hereby agrees and commits to cause and/or to assist
the City in causing to be printed any prospectus or other written
or printed communication proposed to be published in connection
with the issuance, offer and sale of Bonds, prior to the delivery by
the City of the Bonds, and, if deemed necessary by the City, following
the delivery of the Bonds.
6.3 The Applicant hereby warrants and covenants to pay all expenses in
connection with its commitments set forth above and with the
issuance, offer and sale of the bonds, whether or not they are
finally issued, to hold the City harmless from any and all expenses
related thereto and to pay items on an ongoing basis so that neither
the City, nor its advisors, attorneys, employees and the like will
accumulate any claims against the City.
6.4 The Applicant agrees that any additional information, agreements
and undertakings as the City may require as a result of various
conferences and negotiations shall be reproduced in written,
printed or other tangible form, shall be supplied in as many
copies as the City prescribes and shall be deemed supplements or
amendments to this Application.
PART VII SIGNATURE
7.1 This Application is signed below by the Applicant with prim
responsibility for the financing, who, by his signature below,
represents and certifies that he has authority to bind the
Applicant to contract terms; that his Application, to the
best of his knowledge or belief, contains no false or
incorrect information or data, and this application, including
exhibits and attachments, is truly descriptive of the Project,
and that the Applicant is familiar with Ordinance #3815.
PART VIII FEE SCHEDULE
8.1 The Applicant agrees that, for the Project to be considered for
eligibility, a non-refundable application fee of $50 will be
paid to the City when the basic documents are requested. With
the submittal of this Application form, there is enclosed $500
payable to the City. If this Application is accepted, Applicant
agrees that it will pay the City an additional fee of $10,000
for administrative costs. Applicant agrees that its commitments
in Part VI above are in addition to these fixed amounts. Thus, in
the event that no closing occurs, Applicant agrees that the City
shall be reimbursed for its processing costs.
VANIR RESEARCH COMPANY
.19 DA
DOMI GUEZ
C 1 �-�• � 1'IN '
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