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Home My WebLink AboutR08-Redevelopment Agency . RECVELOPMENT AGENCY -ICQUEST FOR OMMISSlON/COUNCIL AOION . From: Glenda Saul, Executive Director '...,......~ t: Redevelopment Agency Subject: TEFRA PUBLIC HEARING - SIMA PARTNERSHIP NUMBER I - PROJECT 2 Date: October 28, 1985, 1985 Synopsis of Previous Commission/Council action: Ordinance MC-468 establishing the City of San Bernardino Industrial Development Authority 9/9/85 9/9/85 Approved IDA Resolution 85-7 accepting the application. Approved IDA Resolution 85-8 authorizing execution of agreement with Brown, Wood, Ivey, Mitchell and Patty to act as bond counsel. 9/23/85 9/23/85 Approved IDA Resolution 85-11 approving the application. Approved Resolution 85-383 approving the application and setting a TEFRA Public Hearing ln/?l/Rr'.. ~nn"';nl1':'c1 Pnhl;r HIloJ:llT;ng t'n NnvpmhPT ur lqali Recommended motion: (Mayor and Common Council) Continue Public Hearing to November 18, 1985 ........ ~f~M Signature Contact person: GLENDA SAUL FUNDING REQUIREMENTS: Amount: $ N/A Phone: 383-5081 1 Ward: Project: CCS Date: November 4, 1985 Supporting data attached: YES No adverse Impact on City: <;.l:wncil Notes: '--.. 0722K/OJ Agenda Item No.;2 - 8 CIV OF SAN BERNARDClo - REQUIOr FOR COUNCIL AC~N STAFF REPORT ......~..' Bond Counsel has asked for a continuance for the TEFRA Public Hearing to November 18, 1985. The Bond Counsel is currently working with CIDFAC in determining whether or not this project is indeed industrial and would need CIDFAC approval. At present, Bond Counsel believes the nature of the project and will be a city issue under the City Charter provisions. they will be ready for the November 18, 1985, meeting. is not truly industrial Bond Counsel is confident Below is a recap of the application: Applicant: SIMA Partnership Number Two Principal: Allan Fainbarg Steven Fainberg Michael Wimbush Irving M. Chase Project: Acquisition and construction of 8.3 acres. Nineteen buildings, approximately 100,000 sq. ft. of owner-user and leasable for industrial and/or research purposes. .-... '- Location: Northeast corner of Mill and "C" Streets excluding corner Amount of Financing: Not to exceed $6,000,000 Construction Schedule: Fourth quarter of 1985 to begin. Increase in Tax Increment: 1% x 3,477,000 = $34,770 Reserve & Development Fee: 1/4 of 1% x $6,000,000 = $15,000 (if industrial) 1% of $6,000,000 = $60,000 (if commercial) Estimated 125 full-time jobs Jobs: 0722K/OJ 11/4/85 /-" '- 75-0264 1~i'I.uIHcih~i i~--~-\~~" J '~7/ ~ ~-r--'!iJ.~ ,~~..;:y\r~i~~ iL:1-'1 j ~~~~~Arr[,r.;'f':.. 7 / /} \.) ~.i)"::: l~~:.~rt~ 'I ~:.; ~UJ1i ~...... '~~V., ~......... ....,..-' I'i > '7- ) . ...- .. . ... -.-.... '-.;...'~'r:"i:':i'''", .., I'.. .' -.. -' . r - ~ . --=- ';';";'1: - ., - -t. . 'i ~ r . . '::i: ~.a '~''''II..,ti'': .)iL<." ~~ ~ . ," i _.;, ~ .'. ~ ....:!... .;:-~. "~....-:!!., I I. :F~ H.~1QO) ~ ~11OI)) I '. . /' I} !:i;'.;.,,:!,U _i '~'''Il' "'_.M_ ~I, ~.- 8100'- ~ll' <L1 ., "','.' " <=-, . '. ' --,.~ 'J ,HI\? ! . a.,;lj; 1 I~ " . ....... . .,.. .; WONI" . ~.o;;:. I__"....;:;:~) . .,. - 'i,~ 01...... . ~7:" j., _ ., ~ . 41t~ m ,;":,,,l"'f"";'; WWOl ' l, '.---.!'.!!!!.."~ ~-".S~S ~ - J;"'-:::~.;m ~ :A;,":'~~'. 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