HomeMy WebLinkAboutR15-Redevelopment Agency
R~VELOPMENT AGENCY.~ST FOR a..1SSION/COUNCIL AQa.
\
From: Glenda Saul, Executive Director
Subject:
RAMADA HOTEL
Q,t:
Date:
Redevelopment Agency
Hay 10, 1985
Synopsis of Previous Commission/Council ectioi1:
4-29-85
Motion to refer English Enterprise proposal of April 22, 1985 to the
Redevelopment Committee for report back to the Commission on Hay 2, 1985.
5-2-85
Resolution No.4758 adopted liti:th proposal.'
Recommended motion:
Q
~~
Signature
Contact person:
t:1 ~MnA ,AlII
Phone: 383-5081
Supporting data attached:
v.c;
Ward:
FUNDING REQUIREMENTS:
Amount: $
Project:
MIce
No adverse Impact on City:
Date:
M=oy 13. 19A5
Cncil Notes:
Agenda Item No.
fU6
. R")!VELOPMENT AGENCY'.aQQUEST FOR Q>>MMISSION/COUNCIL AOION
STAFF REPORT
o
Attached is a letter received from Mr. Herman English dated May 8, 1985.
It is in response to our letter dated May 3, 1985. As the conditions set
forth in the Commission's letter to Mr. English, Section 3., Paragraph
e) were not met in Mr. English's response, ataff cons1ders the proposal
to be revoked.
0356T
Attachment
c
Q
\.. 0
o
T-. .__
./oJO
\/
o
o
ff._~
..,
~tlg1i5lt ~tlterpri5~5, ~1tt. \~ ~ ~
ENGLISH SQUARE <<. ~ ~- ''),,'::_
BUSINESS and PROFESSIONAL CENTER,~ l . \":;
8520 South Broadway IV .."t.:\ . .' '., iJ~ t:
Los Angeles, c.lifomia 90003 ~,~\r .':;'_"-~).\~ '
,\-.. '..\ ,-~ ,..':',.'
(:o!l3) 753-1031 ft~..~;,' <Q(].:"'"
~~\.f\i C;,'Y:'\
~\<:S~'\)ft
t):
May 8, 19B5
CERTIFIED MAIL: P 708 307 798
Mr. R. B. Goblirsch
Deputy Director
Redevelopment Agency of the City
300 North .D. Street
San Bernardino, California 92418
Dear Mr. GOblirsch:
'0
We are in receipt of your May 3, 1985 proposal and are
aware of your terms and conditions. We require the
following information in order that we may review
your proposal.
PARAGRAPH 1
SENTENCE 4 .The definition of'an acceptable lending
institution shall be a AAA rated bank....
REQUEST: Please identify all AAA lending institutions
in the State of California acceptable to you.
Please include names, addresses and telephone
numbers.
SENTENCE 5 .The irrevocable Letter of Credit and the
loan must be acceptable and approved by
the Community Development Commission..
REQUEST: Please provide us with criteria for
acceptability of a irrevocable Letter of
Credit as outlined by your Community
Development Commission.
o
8.JS
.
'.'
o
o
(C
o
o
o
o
Redevelopment Agency
May 8, 1985
Page 2
PARAGRAPH 3
3b. .Loan funds made by the Commission to
English Enterprises will be done on a
draw basis....
REQUEST: Please define draw b.sis.
3b. .... upon proper receipts being furnished
the Commission..
REQUEST: Ple.se give us the Commission's criteria
for .cceptable .proper receipts..
3d. .It is understood th.t the Commission will
need to borrow the funds from a private
lending institution to m.ke s.id funds
av.il.ble to English Enterprises....
Ple.se provide us with a letter st.ting
the Commission's in.bility to make the
lo.n .v.il.ble from existing funds, thus
requiring the Commission to borrow funds
from a private lending institution.
REQUEST:
3f.
.The letter shall also cont.in . st.tement
.uthorizing the Redevelopment Committee
.nd Staff to meet, confer, and negoti.te
with the B.nk of.Americ.....
Ple.se provide us with a list of names,
addresses .nd telephone numbers, of all
Redevelopment Committee members and all
staff of the Redevelopment Agency.
(Include office and residenti.l numbers).
PARAGRAPH 4
REQUEST:
4a. .Commission .grees, withi 14 c.lend.r
d.ys of receipt of inform.tion set
forth above, to use reason.ble efforts
to obtain a loan from a priv.te financi.l
r.te..
REQUEST: Please outline methods of .re.son.ble
efforts. to obt.in a lo.n.
~.
o
o
~
o
o
o
o
Redevelopment Agency
May 8, 1985
Page 3
We find your proposal to contain some merit. Bowever,
in order to make an informed and genuine response, we
urgently require the above items clarified.
Because your proposal did not contain all the pertinent
information necessary for us to review, it is understood
that a moratorium is placed on Paragraph 3e until we are
in receipt of the requested items for clarification.
Upon receipt of these items we stand fully prepared to
make our response.
Sincerely, ~
~~~
President
BAE,JR:be