HomeMy WebLinkAbout1980-129 MacKay 'Shopping Cntz
50,002-1-2
RESOLUTION N0. ,.P,* _. %o
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 COMMERCE DEVELOPMENT
ASSOCIATES , A CALIFORNIA GENERAL
PARTNERSHIP; FINDING THAT SAID APPLI-
CATION COMPLIES WITH THE PROVISIONS
AND REQUIREMENTS OF SAID ORDINANCE NO.
3815; 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 DETERMINA-
TIONS 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
C104-1 (ic)
4/2/80
MacKay Shopping Cnti
50 ,002=1-2
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, Commerce Development Associates, a Cali-
fornia general partnership ("Commerce" herein) , has submitted
its 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 Commerce a
community shopping center which shall provide approximately
188 ,000 square feet of rentable space, to be located
at the north east corner of South E Street and MacKay
Court (future) in the City of San Bernardino, which buildings.,
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 buildings, and the financing of same,
including interest during construction, costs and expenses
of issuing said bonds, including bond discount, if any, consti-
tute a project ("Project" herein) as that term is used in
said Ordinance No. 3815; and
-2- X1,2480 (ic)
MacKay' Shopping Cntr
50 ,002-1-2
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, Commerce, its 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.
-3- C104-3 (ic)
4/2/80
i
1 Section 3 . That said Application and the Project be, and
2 the same are , hereby approved subject to the holding of a hearing
�j
3 j thereon.
4 Section 4. That in accordance with the provisions of Section
5 11 (C) of said Ordinance No. 3815 , a public hearing shall be
6 held at the time and place and for the purpose set forth on the
7 "Notice of Hearing" form attached hereto as Exhibit A and incor-
8 porated herein, which notice complies with the requirements of
9 said Ordinance.
10 Section 5 . That the City Clerk is hereby directed to cause
11 said Notice of Hearing referred to in Section 4 hereof to be
12 published in a legal newspaper of the City in the time and manner
13 required by Section 6061 of the Government Code of the State of
i
14 California.
15 I HEREBY CERTIFY that the foregoing resolution was duly
16 adopted by the Mayor and Common Council of the City of San Ber-
17 nardino at a -^s .. meeting thereof, held on the _
18 day of /f 1980 , by the following vote, to-wit :
19
AYES : Councilmen
20 '
21
NAYS : -212
22
ABSENT: _ f
23
24
City Clerk
25
The foregoing resolution is hereby approved this day
26
of n 1980 .
27
i
28
ay Cfr of t e Cit of San ernardino
Approved as'' tp -f orm:
r
i.�
MacKay' Shopping Cntz
50 ,002-1-2
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
COMMERCE DEVELOPMENT ASSOCIATES,
A CALIFORNIA GENERAL PARTNERSHIP
NOTICE IS HEREBY GIVEN that the Mayor and Common
Council of the City of San Bernardino have accepted an appli-
cation from a general partnership designated "Commerce
Development Associates" consisting of :
George Eltinge, George Graziadio
James Sampson and Lary Mielke,
t dba, Commerce Development Associates;
and Dana John MacKay
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 Commerce Development
Associates , A California General
Partnership; Finding that Said
Application Complies with the
Provisions and Requirements of
Said Ordinance No. 3815; 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
C104-5 (ic)
4/2/80
MacKay Shopping Cnt:
50,002-1-2
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"
all for the financing of a community shopping center of
approximately 188 ,000 square feet in the aggregate, to
be located at the northeast corner of South E Street, and
MacKay Court (future) in said City (the "Project") and to
issue approximately $4 ,000 ,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: August 18, 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, April 7, 1980 .
Shauna Clark, City Clerk of the
City of San Bernardino
-2- C104-6 (ic)
4/2/80
I
Mailing Address:
Development- Post Office Box 92959, Los Angeles,California 90009
Construction
Company 9920 La Cienega Boulevard, Inglewood,California 90301
Telephone(213)649-3850
March 31, 1980
The Honorable W. R. Holcomb
City of San Bernardino
300 North "D" Street
San Bernardino, CA 92401
Dear Mayor Holcomb:
Enclosed herewith please find the Application of Commerce
Development Associates, a California Partnership, pursuant
to which said Partnership wishes to enter into a Project
Agreement for financing of a Community Shopping Center un-
der Ordinance No. 3815. Mr. Dana John MacKay will be co-
ordinating the Applicants ' activities for this Project and
can be contacted at the above address.
Commerce Development Associates is pleased to be part of the
City of San Bernardino' s South East Redevelopment Project's
growth and improvement.
Yours truly,
COMMERCE DEVELOPMENT ASSOCIATES
Dana ohn MacKay
Partner
DJM/gdw
Ceti THE C/6-0
APP
,a�a�
APPLICATION FOR
REVENUE BOND FINANCING
PART I GENERAL & BUSINESS INFORMATION
1.1 Legal Name of Applicant:
Commerce Development Associates, a California general partnership,
(see 1.8) .
1.2 Line of Business:
Real Estate Development
1.3 Mailing Address and Headquarters Address:
1.3.1. Lary Mielke
c/o Commerce Development Associates
9920 La Cienega Blvd.
Suite 1401
Inglewood, California 92959
1.3.2 Dana John MacKay
c/o Commerce Development Associates
24050 Madison Street
Suite 100S
Torrance, California 90505
1.4 Employer ID Number:
95-3100191
1.5 Name and Title of Principal Contact:
Dana John MacKay, Partner
1.6 Phone Number:
(213) 649-3850
1.7 Type of Business Organization:
A partnership
1.7.1 California
1.7.2 January 2, 1976
1.7.3 Not applicable
1.8 Constitution of Ownership of the Partnership:
1.8.1 Commerce Development Associates (CDA) is a wholly owned
affiliate of EGS Metro. CDA is composed of EGS Metro's
four major principals: George Eltinge, George Graziadio,
James Sampson and Lary Mielke.
Historically, EGS Metro has functioned as an operating
entity . . . building, developing, managing and acting as
agent for CDA's commercial and industrial properties.
Commerce Development Associates serves as the legal entity,
and is the entity used when principals and/or regional
partners take title to property, invest or enter into
agreements.
1.8.2 Commerce Development Associates has entered into a partner-
ship agreement with Dana John MacKay (Regional Partner)
known as Commerce Development Associates-MacKay and as part
of that agreement, solely for internal convenience, Commerce
Development Associates will hold legal title to all pro-
jects as a trustee for and on behalf of the partnership
CDA-MacKay.
1.9 Name and Location of Key Officials:
1.9.1 George Graziadio
George Eltinge
James Sampson
Lary Mielke
c/o Commerce Development Associates
9920 La Cienega Blvd.
Suite 1401
Inglewood, California 92959
1.9.2 Dana John MacKay
c/o Commerce Development Associates
24050 Madison St.
Suite 1005
Torrance, California 90505
1.10 Description of Other Business Affiliations of Principal Officer
of the General Partner of this Partnership:
George Eltinge and George Graziadio are, respectively, Chairman
and Vice Chairman of the Board of Directors for Imperial Bank.
1.11 Number of Employees in California:
Commerce Development Associates is a national real estate develop-
ment company with commercial projects owned and under development
in 20 states.
1.11.1 Twenty (20) full time and many times more as required on
a subcontract basis.
1.11.2 Principal office in Inglewood with field offices in Torrance,
and as required for specific project development.
1.12 1.12.1 Applicant's Accountant:
Charles Dean
c/o Main, Hurdman & Cranston
one Wilshire Building
Suite 2780
Los Angeles, CA 90017
1.12. 2 Applicant's Attorney:
Earl Ellis
c/o Albert & oliker
Suite 2200
1801 Century Park East
Los Angeles, California 90067
1.12.3 Engineers and General Contractor for this Project:
James Brennan
111 So. Orange St.
Orange, California 92666
1.12.4 General Contractor:
Mr. Gunnar Jacobson
c/o EGS Metro Construction Corp.
9920 La Cienega Blvd.
Suite 1401
Inglewood, California 92959
1.12. 5 Architect:
Kowalski, Harding and Associates
20715 S. Avalon Blvd.
Suite 310
Carson, California 90746
1.13 Principal Banks:
Union Bank - Tim Washbern
Security Pacific Bank - Stan Cross
Lloyds Bank - Mike Delaney
1.14 Source of Funding for Project:
Bond Issue and partners' equity.
PART II BOND ISSUE
2.1 Provide the Estimated Total Amount of the Financing with a Tabu-
lation of Proposed Use of Bond Proceeds:
2.1.1 Loan Amount Calculation
2.1.1.1 Ground leases (NNN) $132,000
2.1.1.2 Building Leases (NNN) 503,000
2.1.1.3 Gross Operating Income $635,000
less
Vacancy 3% 15,000
Management 50 19,000
Reserve 2% 10,000
2.1.1.4 Total Expenses (44,000)
2.1.1.5 Net Operating Income $591,100
2.1.1.6 Required Debt Service Coverage
591,000 - 1.35 = 438,000
2.1.1.7 Loan Amount for 30 yrs @ 101%
438,000 - .1098 = $4,000,000
2.1.2 Use of Loan Proceeds
2.1.2.1 Land 955,000
2.1.2.2 City Fees 65,000
2.1.2.3 On and Off Site 1,000,000
2.1.2.4 Buildings 1,475,000
2.1.2.5 Arch/Eng/other proff. fees 125,000
2.1.2.6 Project Development Fees -0-
2.1.2.7 Leasing Commission/Promo. Fees -0-
2.1.2.8 Total Hard Costs 4,502,000
2.1.2.9 Underwriting, legal, printing 120,000
2.1.2.10 Fund Disbursment & Inspection
Fees 20,000
2.1.2.11 Capitalized Interest 240,000
2.1.2.12 Total Use of`Bond Proceeds $4,000,000
2.2 Estimated Target Date of Financing:
October 1, 1980
2.3 Estimated Time of Financing:
30 years amortization, with first 12 months interest only.
2.4 Type of Bond Sale:
Private placement, underwritten offering.
PART III FINANCIAL INFORMATION
3.1 General:
Confidential financial information submitted under separate cover.
Attached is a brochure describing the experience and capabilities
of the applicant.
PART IV PROJECT INFORMATION
4.1 Summary of Purpose, Objective & Function of the Proposed Project:
4.1.1 The purpose and function of this development is to design,
build and operate a quality community shopping center.
4.1.2 The center will be co-anchored by a national recognized
and respected retail chain store and a very successful
regional home improvement store. Other anticipated tenants
within the community shopping center will be restaurants,
furniture stores, financial institutions, nationally and
locally owned retail establishments.
4.1.3 The total building area will be approximately 188,000 square
feet with approximately 970 parking spaces. The parking
ratio will be approximately 5 parking spaces per 1,000
square feet of building, which far exceeds the City of San
Bernardino parking ratio for similarly zoned property of
3 spaces per 1,000 square feet of building.
4.1.4 A common architectural theme for the entire community
shopping center will be developed by incorporating the
requirements of the anchors along with extensive input
from the City of San Bernardino's Planning Department
and Commission. The building design and construction
will be of high quality and will incorporate cost effect-
tive energy saving planning.
4.2 Description of Components and Estimated Total Cost of the Functional
Parts of the Project:
Uses of Funds
4.2.1 Land $1,287,000
4.2.2 City fees 65,000
4.2.3 On and off site improvements 1,100,000
4.2.4 Buildings 1,475,000
4.2.5 Arch/Eng./other proff. fees 200,000
4.2.6 Project Development fees 200,000
4.2.7 Leasing Commissions/Promo. fees 250,000
4.2.8 Total Hard Costs 4,502,000
4.2.9 Underwriting, legal, printing &
related fees (3% of $4,000,000) 120,000
4.2.10 Fund Disbursement & Inspection Fees
(1% of $4,000,000) 20,000
4.2.11 Capitalized Interest (12 mos. @ 101%) 420,000
4.2.12 Total Costs 5,062,000
Sources of Funds
4.2.13 Interest earned on bonds (10%x45%) 180,000
4.2.14 Funds provided by loan 4,000,000
4.2.15 Reimbursements from Tenants 225,000
4.2.16 Equity provided by developer 657,000
4.2.17 Total funds $5,062,000
4.3 Estimated Construction Period:
4.3.1 Scheduled starting date: Approximately September 1, 1980.
4.3.2 Scheduled completion date: Approximately October 1, 1981.
4.4 Name and Location of Applicant's Supervising Contractor
Responsible for Design of the Project:
Kowalski, Harding and Associates
Architects
27015 S. Avalon Blvd.
Suite 310
Carson, California 90746
4.5 The Location of Proposed Project:
North east corner of South E Street, and MacKay Court (Future) .
4.6 Advise as to Whether Project Site is a New Location:
New location
4.7 Name of Legal Owner of Location:
4.7.1 Portions of the land are owned by Commerce Development
Associates (Applicant) and other portions by THT Joint
Venture. Commerce Development Associates is presently
in escrow and will purchase the remaining property from
the THT Joint Venture prior to start of construction.
4.7.2 There will be no legal relationship for the development
and ownership of the project between Commerce Develop-
ment Associates (Applicant) and the THT Joint Venture.
4.8 A description of the operations that are or are to be conducted
at the location of the proposed project, and the scope, magnitude
and process relationships of the proposed project, including:
A community shopping center with a common architectural theme
devoted primarily to ret±il sales.
4.8.1 An 81" x 11" map showing plan site and location of the
project. (Encl. #1)
4.8.2 This project includes the sites labeled, for convenience
only, #14-#20.
4.9 List the environmental quality regulations, standards or require-
ments which are to be met within this project.
The applicant has previously received a Negative Declaration and
Planning Commission Approval (August 21, 1979) for Minor Sub-
division #498 of which the property for this project is a part.
4.10 A list and copies of all permits, water enforcement orders, air
pollution permits and variances or evidence of other actions
evidencing need for installation of this project.
The applicant has previously received a Negative Declaration and
Planning Commission Approval (August 21, 1979) for Minor Sub-
division #498 of which the property for this project is a part.
4.11 List pollution control agencies (local, state and federal) impos-
ing the applicable regulations, standards or requirements for
operations or disposal.
The applicant has previously received a Negative Declaration and
Planning Commission Approval (August 21, 1979) for Minor Sub-
division #498 of which the property for this project is a part.
4.12 Describe the regional county or basin plan to which this project
is to conform and the manner in which it will provide conformance.
The applicant has previously received a Negative Declaration and
Planning Commission Approval (August 21, 1979) for Minor Sub-
division #498 of which the property for this project is a part.
4.13 Describe the by-products or residues of the project, and where and
how ultimate disposal will be accomplished. If recycling or sal-
vage is to be a function, advise as to market opportunities:
The applicant has previously received a Negative Declaration and
Planning Commission Approval (August 21, 1979) for Minor Sub-
division #498 of which the property for this project is a part.
Weekly trash pick-up will be provided. Sewage disposal thru city
sewage system shall be utilized.
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:
5.1.1 The project will provide long-term employment for a sub-
stantial section of the locally unemployed. When con-
struction on all of the project site has been completed
and.facilities on the site are operational, it is estimated
that an average of approximately 900 jobs will be directly
created and approximately same amount of jobs indirectly
created. The categories of jobs to be provided are anti-
cipated to include managerial, skilled, semi-skilled, and
unskilled. The wages to be paid by the enterprises locat-
ing in subject Project for the employees in various job
categories are anticipated to meet local and regional
standards and to sustain a satisfactory level of
financial stability. Working conditions in the faci-
lities (all of which will be newly constructed and are
anticipated to be constructed in accordance with all
applicable federal, state and local laws and regulations)
are anticipated to be satisfactory.
5.1.2 The City' s involvement in the development of the Project
will enable the City to attract the types of businesses
most desired by the City and will permit the City to have
a greater amount of input for the jobs anticipated to be
created by this Project.
5.1.3 The category of tenants anticipated to be attracted to
this Project shall include but not be limited to the
following:
Financial institutions, restaurants, furniture stores,
real estate offices, general retail, general services,
national and .regional chain retailers and the like.
5.1.4 Additional benefits anticipated to be realized by the
reduction of unemployment and underemployment attributable
to the construction of said Project and the general eco-
nomic revitalization resulting therefrom in the South
Eastern Redevelopment area of the City of San Bernardino,
include the reduction of public assistance expenditures,
all because this Project will be supporting at no unreimbursed
cost to the City.
5.1.5 The construction and operation of the Project anticipated
on this site, is anticipated to add buildings whose approxi-
mate market value will be $10,000,000 to the city tax rolls.
Property tax revenue to the city is estimated at $75,000
versus the present property tax of $4,100 only annually.
5.1.6 In addition substantial amount of sales tax revenue for
the City will be guaranteed.
5.1.7 The use of the method of financing provided for in Ordin-
ance #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 accel-
erated time frame. As the City is well aware, conventional
interest rates are at a historical high level 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 #3815 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 #3815 of
the City are in conformance with the findings set forth in Section
1 of Ordinance #3815. In particular:
5.2.1 The Project is anticipated to have a significant impact
on the unemployment problem of the City without imposing
a financial burden on the City.
5.2.2 The Project will not produce detrimental effects on, or
conflict with, or otherwise restrain State efforts to
solve problems of legitimate State concern.
5.2.3 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 #3815 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.
5.2.4 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 pri-
vate 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.
5.2.5 In Part 5.1, the applicant has outlined the programs by
which it is expected that the applicant's activity in the
City will increase long-term employment of local residents.
5.2.6 The City will receive a substantial benefit from construc-
tion 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 antici-
pated to exceed any indirect detriments to the City such as
increases in costs of police, fire and other municipal
services.
5.2.7 The applicant will not take any action that will result in
violation of any applicable State standards relating to
sewage 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, and
any permit or 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 senior officials of the
applicant with prime responsibility for the financing, who,
by their signatures below, represent and certify that they have
authority to bind the applicant to contract terms; that their
Application, to the best of their 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.
COMMERCE DE LOPMENT ASSOCIATES
by
Lary e e, Partner
by
Dana J MacKay, Per
i
I
I j I L
W � N
u
T � >
I
PA
Lx
+ IL
y a
I
rn
I M
I � c
W
T
I
r
y
I v � I
�- Mac KAY co JR"T
�" _^ U z i �-�iCi y �L--1� �`� ilia _L��li I I,4� —•,i I� 1
Oy
�T
1 -
r� s
v a 3 N
- T
. A
03/19/80
Inland Business Center
(Per Plan Z-34)
Parcel Building S.F. Parking Site S.F.
1 43298
2 4146 9 9496
3 4146 10 9496
4 4146 10 10890
5 4146 10 9453
6 4082 9 9453
7 12944 55 33759
8 17168 50 32408
9 17168, 51 32408
10 17168 48 32408
11 17168 48 32408
12 45868
13 70610
14 9000 59 35250+
15 30000 69 77600+
16 5000 28 20700
17 66584 331 181400
18 40000 196 136505
19 ALB 32000 130 97575
20 4950 24 19475
Note: Site and Building areas are approximate and subject to revisions.
Revised: 03/20/80