HomeMy WebLinkAboutR12-Redevelopment Agency
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AGENCY.~ST FOR~/COUNCIL AQ-ION
. From: Glenda Saul, Executive Director
--
~t: Redevelopment Agency
Date:
Subject: A. AUTHORIZING ISSUANCE AND
APPROVING FINAL BOND DOCUMENTS
B. TRANSFERRING $3,800,000 OF CITY
ALLOCATION TO SIMA PARTNERSHIP I,
PROJECT TWO.
Synopsis of Previous Commission/Council action:
9-9-85
9-9-85
9-23-85
10-21-85
11-4-85
11-18-85
Approved IDA Resolution 85-7 accepting the application.
Approved IDA Resolution 85-8 authorizing agreement with Bond Counsel.
Approved IDA Resolution 85-11 approving the application,
Continued Public Hearing to 11-4-85
Continued Public Hearing to 11-18-85
Approved Resolution 85-469 TEFRA Public Hearing.
Recommended motion:
(MAYOR AND COMMON COUNCIL)
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A.
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO
AUTHORIZING ISSUANCE OF $3,800,000 floating/fixed rate demand industrial
development revenue bonds, series 1985, (SIMA PARTNERSHIP NUMBER ONE
PROJECT TWO).
B.
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SAN BERNARDINO
TRANSFERRING $3. ,800,000 OF ITS ALLOCATION FOR PRIVATE ACTIVITY BONDS TO
SIMA PARTNERSHIP NUMBER ONE.
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Signature
Contact person:
Glenda Saul
Phone:
383-5081
1
Supporting data attached:
YES
FUNDING REQUIREMENTS:
Amount: $
N/A
Ward:
P. CCS
rOJact:
No edverse Impect on City:
17le'!B
12-16-85
December 16, 1985
tncil Notes:
Agenda Item No,~ /2.
" CI.f:t OF SAN BERNARD&-O - REQUWT FOR COUNCIL AC~ON
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75-0264
STAFF REPORT
The resolution before you authorizes the issuance of Industrial Development
Bonds for the Sima Partnership project.
Bond Counsel wishes to proceed with the process of securing bond financing since
the developer is anxious to close the bond by December 31, 1985. However, both
the bond counsel and developer have agreed that adoption of resolutions is
contingent upon satisfaction by the City that the issue is not eligible for
CIDFAC financing and is eligible under the City Charter as a commercial bond.
This determination ia to be made either in writing by CIDFAC or by telephone
communications among CIDFAC, Agency Counsel and appropriate staff.
Below is a recap of the project:
APPLICANT:
Sima Partnership Number 2
PRINCIPAL:
Allan Fainbsrg
Steven Fainbarg
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 snd/or research purposes.
LOCATION:
Northeast corner of Mill and "Goo
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.
1% x $60,000 = $60,000.
RESERVE AND DEVELOPMENT FEE:
JOBS:
Estimated 125 full time jobs.
The documents before you today include:
The Remarketing Agreement: Among Sima Partnership, the City and Bank of
America.
The Loan Agreement between the City and Sima Partnership.
The Indenture of Trust between the City and First Interstate Bank of
California.
l70G/EB
12-16-85
CIW OF SAN BERNARD~ - REQUQT FOR COUNCIL A~ON
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STAFF REPORT
The Preliminary Private Placement Memorandum,
The Placement Agency Agreement,
The Reimbursement Agreement among Sima Partnership, The Dai-Ichi Kangyo
Bank and Bank of America.
The Construction Deed of Trust and Security Agreement and Fixture Filing.
The Security Agreement.
Trustee:
Interest Rate:
First Interstate Bank of California
Not yet determined.
The second resolution commits 3,800,000 of the City's IDB allocation to this
project.
Current commitments include:
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IDB Allocation
C&M Fine Pack
KCKC (expired 12/3/85)
17,983,000
5,000,000
(3,900,000)
12,983,000
Less 3,800,000 for Sima
3,800,000
9,183,000
Developer will be available to answer any queations you may have
l70G/EB
12-16-85
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75-0264
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RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING ISSUANCE OF $3,800,000
FLOATING/FIXED RATE DEMAND INDUSTRIAL DEVELOPMENT REVENUE
BONDS, SERIES 1985, (SIMA PARTNERSHIP NUMBER ONE PROJECT
TWO)
,
WHEREAS, the City of San Bernardino (the "City") is a
"home rule city" in the State of California duly organized
and existing under and pursuant to a Charter adopted under
the provisions of the Constitution of the State of
California; and
WHEREAS, the City duly and regularly enacted Ordinance
No. 3815, as amended, (the "Act") to finance various types
of projects, as defined in the Act, and to issue its special
revenue bonds for the purpose of paying the cost of
financing such projects, and has amended the same from time
to time; and
WHEREAS, the City intends 'to issue its Floating/Fixed
Rate Demand Industrial Development Revenue Bonds, Series
1985 (SIMA Partnership Number One Project Two), pursuant to
the Act to finance the acquisition, construction and
development of a commercial facility in the City by SIMA
Partnership Number One (the "Company"); and
WHEREAS, the City has caused to be prepared and has
presented to the Mayor and Common Council at this meeting
the following documents which appear to be substantially in
the form for execution and delivery:
1. The form of the PLACEMENT AGENCY AGREEMENT _ong
the City, the Company, Bank of America NT&SA and
through its Capital Markets Group, (the "Placement
Agent"), (the "Placement Agency Agreement");
2. The form of INDENTURE OF TRUST (including the form
of the Bonds) between the City and First
Interstate Bank of California (the "Trustee") (the
"Bond Indenture");
3. The form of LOAN AGREEMENT between the City and
the Company (the "Loan Agreement");
4. The form of the REMARKETING AGREEMENT among the
City, the Company and Bank of America NT&SA
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through its Capital Markets Group (the
"Remarketing Agent") (the "Remarketing
Agreement"); and
5.
The form of the PRELIMINARY PRIVATE PLACEMENT
MEMORANDUM to be approved and delivered by the
City and the Company (the "Preliminary Private
Placement Memorandum");
WHEREAS, pursuant to the BOND INDENTURE the City
intends to issue the Bonds in the principal amount of
$3,800,000 at a variable interest rate not to exceed twelve
percent (12%) per annum at a term of 10 years, which Bonds
may be tendered by the holders thereof for purchase in the
manner and at the time provided in the Bond Indenture; and
WHEREAS, pursuant to the REMARKETING AGREEMENT, the
Remarketing Agent agrees to use its best efforts to remarket
the Bonds as provided in the Bond Indenture in the secondary
market subsequent to the initial offering issuance and
delivery of the Bonds; and
WHEREAS, pursuant to the PLACEMENT AGENCY AGREEMENT,
the Placement Agent intends to privately place the Bonds in
the principal amount of $3,800,000; and
WHEREAS, pursuant to the LOAN AGREEMENT, the City
intends to loan the proceeds of the Bonds (hereinafter the
"Loan"), to the Company by depositing said proceeds in a
fund held by the Trustee under the Bond Indenture, in
accordance with the provisions of the Bond Indenture; and
WHEREAS, the PRELIMINARY PRIVATE PLACEMENT MEMORANDUM
is to be provided to potential institutional and individual
purchasers of the Bonds to furnish information with respect
to the issuance of the Bonds;
NOW THEREFORE, be it resolved by the Mayor and Common
Council of the City of San Bernardino:
SECTION 1. Authorization of the Issuance, Execution,
Authentication, Sale and Delivery of the Bonds. The City
hereby authorizes the issuance, execution, authentication,
sale and delivery of the Bonds pursuant to the Act, the Bond
Indenture, and this Resolution in the principal amount of
$3,800,000 at such price as shall be approved by the Mayor
or the Executive Director of the Redevelopment Agency of the
City of San Bernardino (the "Executive Director") upon
execution of the Placement Agency Agreement.
2.
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The Bonds shall be substantially in the form presented
to this meeting, with such appropriate variations,
omissions, insertions and changes (hereinafter, "Changes")
as may be approved by the officers executing the same upon
consultation with Bond Counsel, their execution thereof to
constitute conclusive evidence of their approval of all
changes from the form of the Bonds presented to this
meeting, which form is hereby approved in all respects.
The Bonds are special obligations of the City. The
Bonds shall not constitute a debt of the City and the
general fund of the City shall not be liable for repayment
of the Bonds.
NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF
THE STATE OF CALIFORNIA OR THE CITY OF SAN BERNARDINO
IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM,
IF ANY, OR INTEREST ON THE BONDS, NOR IS THE STATE OR
SUCH CITY IN ANY MANNER OBLIGATED TO MAKE ANY
APPROPRIATION FOR PAYMENT.
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SECTION 2. Approval ofpro;ect Agreements. The Mayor
and City Clerk are hereby authorized and directed to execute
and deliver the Bond Indenture,' Remarketing Agreement,
Placement Agency Agreement and Loan Agreement (the "Project
Agreements") in substantially the form presented to this
meeting, with such Changes as they may approve upon
consultation with Bond Counsel, their execution to
constitute conclusive evidence of their approval of all
Changes from the form of Project Agreements presented to
this meeting, which form of Project Agreements are hereby
approved in all respects.
SECTION 3. Authorization of Loan. The City hereby
,authorizes the Loan of the proceeds of the Bonds to the
Company in accordance with the Act and pursuant to the Loan
Agreement.
SECTION 4. Approval of Preliminary Private Placement
Memorandum and Distribution Thereof. The Mayor is hereby
authorized and directed to sign the Preliminary Private
Placement Memorandum in substantially the form presented to
this meeting, with such Changes, including Changes necessary
to deliver the Private Placement Memorandum in its final
form to the purchasers of the Bonds, as he may approve upon
consultation with Bond Counsel, his signature to constitute
conclusive evidence of his approval of all Changes from the
form of Preliminary Private Placement Memorandum presented
to this meeting, which form of Preliminary Private Placement
Memorandum is hereby approved in all respects.
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The proper officers or employees of the City are hereby
authorized to cause the Placement Agent to distribute the
Preliminary Private Placement Memorandum to persons who may
be interested in the purchase of the Bonds and to sign and
deliver the Preliminary Private Placement Memorandum in its
final form to the purchasers of the Bonds.
SECTION 5. Prior Actions Ratified and Confirmed. The
actions of the City and officers or employees of the City in
doing any and all acts necessary for issuance and sale of
the Bonds and the making of the Loan to Company, are hereby
ratified and confirmed.
SECTION 6. Further Actions Authorized. The City's
proper officers, agents and employees are hereby authorized,
empowered and directed to do all acts, and to execute and
deliver all documents contemplated by the Bond Indenture,
'Placement Agency Agreement, Loan Agreement and Remarketing
Agreement including, but not limited to any and all
documents otherwise necessary or desirable for issuance and
sale of the Bonds and the making of the Loan.
4.
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SECTION 7. This resolution shall take effect
immediately upon its adoption.
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 16th
day of December, 1985 by the following vote:
AYES: Council Members
NOES:
ABSTAIN:
City Clerk
The foregoing resolution is hereby approved this
16th day of December, 1985.
Mayor of the City of San Bernardino
C Approved as to form:
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}t Md City Attorney
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RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO TRANSFERRING $3,800,000 OF ITS ALLOCATION
FOR PRIVATE ACTIVITY BONDS TO
SIMA PARTNERSHIP NUMBER ONE
WHEREAS, the City of San Bernardino, California (the
"City") is a municipal corporation duly created and existing
under its Charter, the laws and Constitution of the State of
California~ and
WHEREAS, the City intends to issue its Floating/Fixed
Rate Demand Industrial Development Revenue Bonds (the
"Bonds") pursuant to Ordinance No. 3815, as amended~ and
WHEREAS, Section 103 (n) of the Internal Revenue Code
(the "Code") requires that the aggregate amount of private
activity bonds (as defined in Section 103(n) (7) of the Code
to mean any obligations the interest on which is exempt from
tax under Section 103(a) of the Code and which is an
industrial development bond or a student loan bond) issued
by the issuing authority during the calendar year shall not
exceed such authority's private activity fund limit for such
calendar year~ and
WHEREAS, pursuant to Section 3(b) of the Proclamation
by the Governor of the State of California dated July 19,
1984 (the "Proclamation") promulgated under Section
103 (b) (B) of the Code, the allocation of the City for the
issuance of private activity bonds in 1985 is $6,812,000
(the "Private Activity Bond Limit")~ and
WHEREAS, the City wishes to allocate $3,800,000 of its
Private Activity Bond Limit to the issuance of the Bonds.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE CITY COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS
FOLLOWS:
(1) The City of San Bernardino hereby approves the
issuance of the Bonds. The Bonds are special obligations of
the City. The Bonds shall not constitute a debt of the City
and the general fund of the City shall not be liable for
repayment of the Bonds.
(2) All actions of the City and officers or employees
thereof in doing any and all acts necessary to issuance and
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sale' of the Bonds and the making of the loan of the Bond
proceeds to SIMA Partnership Number One (the "Company") are
hereby ratified and confirmed.
(3) The City hereby designates $3,800,000 of its
Private Activity Bond Limit to the issuance of the Bonds.
(4) The Executive Director of the Redevelopment
Agency, City Clerk or other officer of the City is hereby
authorized and directed to notify the California Debt
Limitation Committee of such allocation in the form of the
notice attached hereto as Exhibit A.
(5) This resolution shall take effect immediately upon
its adoption.
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~ 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
16th day of December, 1985, by the following vote:
AYES:
Council Members
NAYS:
ABSTAIN:
CITY CLERK
The foregoing resolution is hereby approved this 16th
day of December, 1985.
MAYOR of the City of San Bernardino
Approved as to form:
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City Attorney
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EXHIBIT A
Notice to California Debt Limitation Committee
The undersigned of the City of San
Bernardino, California (the "City") does hereby certify and
give written notice to the California Debt Limitation
Committee as required by Section 7 of the Proclamation by
the Governor of the State of California, dated July 19, 1984
(governing the allocation of the State Ceiling (as defined
therein) on Private Activity Bonds (as described therein)
(the "Proclamation"), that:
The City intends to issue its Floating/Fixed Rate
Demand Industrial Development Revenue Bonds, Series 1985
(SIMA Partnership Number One Project Two) in the aggregate
amount of $3,800,000 (the "Bonds") on December 18, 1985, a
date within 15 days of the delivery of notice hereof as
specified in Section 7 (b) of the Proclamation. The City,
pursuant to Section 7 (a) of the Proclamation and Section
103(n) (10) of the Code, adopted a resolution on December 16,
1985 which designated $3,800,000 of its Private Activity
Bond Limit to the issuance of the Bonds.
of the
City of San Bernardino
ATTEST:
City Clerk
Dated:
, 1985
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cur or W 1'''"110 DDIIItIIAL DlYlLOfIIIIft ADDOI1tt
..'LlCAfIOll
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(De ",U...t .It ....l.t. CIIa,tor OlIo, 'art. I ~ ft.
.. Ch,tor two, Ilo ntalred ."Ucatln t.. ..t ..
nIaltted II, tile "'Ueaat Vltb tIIo Ap,lleatlo..)
CbmI ClR - DAlllIttAL DrOlll&flOl
, .
,m I, DllrIrIC&tIOII or iDDOII1't
A, '-Revelopment AgenCY-City of San Bernardino
t, "drI.. ..d te1.,boao .....
300 Horth -D- Street. 3rd Fl. (714) 383-5081
C, ... ot &lItIIorlt, eoatact ......
Glenda Saul
,m II. IDllflrICAfIOI or PUlLIC &Gact - ... od addro..
(above)
,m III. DIII%IrICAtlOl or IPPLlCIIIt rIa
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SIMA PARTNERSHIP HUMBER ONE, PROJECT TWO
I. ~dd.... lad tolopb... .....
2323 North Tustin Avenue,Suite L, Santa Ana, Ca. 92705
C. eo.taet ....oa
Irving M. Chase
,m IV, COIItlCt DrOIII&1'IOI - ..... addl'lI' od t.l.,b... .1IIIbI.
&. eo.....l to Appllcot
Not selected
t. load Cou.01 (4151 398-~909 San Franciscc
David Casnocha, ESq!JBrown,woodt555 C~ ifp~n1a St.Ca, 94104
C, Odd.a1 ...eb..... alUlorwrlt.r. t .uelal a.wI... 0.
,lac....t ....t to. tbo lo.d. Bruce Barnum VP Bank of America
555 California Street, San Francisco,Ca. ~4104(4l5) 622-1229
D, t.u.t.o, It 0'
Not selected
I. '011111 ..oat, Ir aD,
David Scheppers,Ernst '&Whinney.4000 MacArthur Blvd Ste 800 .
r, &ceouatut tor Applicant Newport Beach,Ca.92660 (714) 851-1700
Kay Smith,V.P.Bank of America,80l N. Main Stt Santa Ana~Ca9270l
G. ..Iacipal lIukC.) or &ppUCaJlt 714 J 972-3/71
$5,000,000.
II&IIIMI &110m or 10NDS PlOPOSED fO II I1IUID II
COt/JUNeTIOII WItH 'lII1 IIIfD!ItUIIIG or fRl .lo.rleT
,m,.
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,m n, DI1'IIIIDIAfZ_ IIQDIltID At nIl fill CeIllek lacll
..,U..ll)
..bU. ....tit
..loeIUo.
Pl...dal (&rtlcl. ';
Iow.r...t CIllo
'.etlo. '1570. 11..)
,&If ,no DOCIns..1I CIIet UIt
&. &,prowl' a"UeIUo. ... .."orU.1 'oe...t.
I. utllorlt, C.t.rala.tl.. ot .ab.t..tial ,.bU. .....tit., II
..rtltl" b, "tIlorlt, I..r.tar, '1' &..I.t..t "entar,
C. Co" ot ,.bU.atlon ot ace.,t..e. ot ."Ue.tl..
D, ..bUe q.ne, ."ronl ot ,roJ.ct IA' b...... ot tIl.
IIollcl., ..rUtl.. bl Cl.rk or h,.t, Clerk
I. ..Uel ot ,.bUe "".rI.1 bJ 1..lIllth. "'Q &ad 'II'tltl"
CO" ot n.olllUn or alnatll la.le.tll, ."rowal ot tIl.
b'lIllle. ot tb. bOIl" C... ... prnlde' till.. .nll.bll)
" AppUc..t '. t....d.l .t.t....te
0, 1I.lro...tll t.p.ct rlport or a...tlw. deelar.tlon
I, _ .tIler rllolatlo.. or .oe....u rll.tia. to '.Uoa.
tatan b, tIl. Autllorlt, .a. tll. Public &alae, vlth 1'1"1" to
tIl. ."Uc.tI..
%, Iotalrtd dOelllllllt. r.latllll to tIl. 1I....c. or 11011", ..
appl1cabl. Ctor tllo.. 'ocuaent. ...wallabll .t &1.. ot
..bal ,. 1 OIl , la'l..t. tll. datI ot ,w.ll.blllt,)
All DocU1llents to J:l.e p):'ovided
1. ...., ..... or Ill. qr....Dt
2. .... ".olutloll
J, Do.. ot tl'1llt .11./01' ,Ir...al ,roport, ..carlt,
..r....llt
t. 'r.l1alalrl Ottlel.1 'tat...nt
5, Otflelal Itat...nt
I, Guarallt.. &an.monu
7. load Coun..l'. Opinion
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CompaDJ Coun..l'. Op1nion
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9, tru.t Iad.ntur.
10. Commitm.nt l.tt.r(.) of pro.p.ctlv. purcha..r,
Ilnd.rwrit.r or plac~nt .s.nt
11. Otb.r
PAlt 'III. '11
CHAPtER rwo - SUBKISSION INlOlKlTION
PAlT I. PUBLIC AGEHC! ActIONS Future 1\ctions to be taken
A. ladu.trlal D.YlloPlllnt Authoritr a"OlIlUOII of Int'lIt
I..olutlon 10. dat.d
C.rUflad bJ
I. A copr of tb. r.~ulr.d publication of tb. notlc. of fillllS
an .ppllcation In accordanc. wltb Gov.rllalnt Cod.
S.ctlon 91530(.), d.t.d
C. A c.rtltl.d copr of tb. n.olutlon or alnut.. hdie.Uns
tb. .pprov.l of tbe project bJ the LeSI.l.tiv. bodr.
D. A cOPl of tbe Dotic. of the public h..rins of tb.
l,sl.letiv. bodr .nd a c.rtifi.d eopr of tbe re.ollltion or
ainut.. lndle.tins approval.
PAlt II. IDENTIFICATION OF AND DESCRIPTION OF THE APPLICANT
A. Companr Id.ntlfleatlon
1. Ottieial bu.lne.. nine and addr...
SlMA Partnership NunDer One, Project Two, 2323 N. Tustin Ave. ,Ste L
2. ADJ DBA I. Santa Ana, CA 92705
None
3, Addr... of Applicant'. b..d;uarter. and .ath op.ratlns
Ioe.tion In Cal1fornia
(Salre as A,l above)
4. th. 1.sal form of the Applleant
a. Corporation
1) Offie.r. of the Corporation - Dame. and
.ddn....
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2) ..jor Sb.reboldere (lCl'1. or IIOre) - n""l IlId
.delr.....
3) St.te of III~orpor.tion .nd dlt.
4) 'or publicl1 h.ld corporltion., .tock .ZCbIIlC'
on whlcb li.ted. IC trld.d 0..1' tb. count.r, or
011 IASDAQ pl.... lndic.t. tb. ..rut ..ur..
b. P.rtn.rlbip
1) IIIIU IlId Iddre.... DC "11'1'11 IlId lilllited
p.rtn.r., IlId .h.r. oC ownerlblp
Allan Fainbarg Michael Wintlush
.steven Fainbarq Irving M. Chase
2) Dlt. oC plr~lI.rlhip
July 9, 1984
c. 801. Propri.tor.hip
5. au.iD..I r.latiollshlp. - h the .lppUUllt' III own.r,
lubddlar1 or aCrUht.d cUnct11 or lIIdll'tct11 with
all' otblr orcanlzatlonf If 10, indlclt. tbl
nlaUoDlblp.
a. ComPllll D..cription
IIC Cod. 10, of COIIIPIIlJ
N/A
Dt.criptloll of prillcipll product Ind/or ..rylc.,
Real Estate Deve10prent
Dt.criptloll of firm'. phrsicIl C.cllltlt.
N/A
Otb.r t.z-.zempt Cilllncilll
SIMA PARINERSHIP NUMBER CNE, ProJEX:T CNE (National LUlIber/Phil & Jim's)
'Inlllclll .tlt..tnt. tor tb. p.,t 3 'Ill" One statement, 1984
.. For public corporltloll, COl'lII 101'. plul lIO't rectllt
rorm 10Q N/A
b. '1IIIIIcl.l .t.tlll.llt, N/A
1,
C 2,
3.
..
5.
C. .I dllcrlptioll, it .p,liClble, or tbt .tattwlde .ht IlId
locltiOIl or thl oplrltlonl or thl Applic.nt (IncludillC
r.llteel ,.rlon Ind princl,ll ultrl). N/A
1. A lllUIIC of the current .tltewld. op.ratlons or thl
Appllcallt, Includlnc .11., 10Cltioll, lIumblE' of
.mploJ'" IlId plyroll. N/A
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2.
A 11.tlne ot the .tattwid. op.r.tion. ot th. Appllelnt
upon Coapl.tiOD ot th.. proj.et, lncludinl tin,
10catlon, Dumb.r ot "plo,"1 .nd parroll. N/A
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3.
A lhtlne
two (2)
lncludlnl
,a)'roll,
ot the
,lIn
.111,
N/A
.tat.wid. op.r.tlon. ot th. A,plleant
at tel' completion ot th. proj.et,
location, Dumb.r ot ..,10"" an4
4, A ll.tlns ot oth.r tal-.lempt tlnancinl" it an"
wbieh the Applicant or r.lat.d p.r.on to the Appllc.nt
ba. obtaln.d within the Unlt.d Itat.. ('.1. oth.r
Indultrial d.,.lopment hond., pollution control bond.,
.ultit..ll, r.ntal hou.inl bondi, .tc.). N/A
'ART III. DISC1IPTION or THE 'lOJECT
A. 'roj.et Lacation and Sit. Intormation
1. Addr... or oth.r locatlonal Indicator and .11. ot .It.
- attach up 8.3 acres at the northeast corner of Mill & G
Streets, exclu:iing corner
2. D'lcrlption ot lmpro'ement. on tb. .it., lncludlnl
al', curr.nt u.. and .il., includ. plctur'l It
anllabl. Raw Land
3, owner.hip
C a, Doll applic.nt curr.ntl, own lite YES
b. It Applicant dOli not OWl'l lite, a dllcrlptlon ot
1.al. arrlnl.ment., option. or oth.r .,ldanc. or
Applicant'. p.r.ll.lon to u.. .It., or plan. to
aCQulr. Ilt. N/A
I. Propo..4 Proj.ct
1. A de.crlptlon ot tb. propo'ld proj.ct
aOO:~OO ;rPlt o~f ~~.&crl~'S~l~'~~J~~din~,
eve ~ti~l1dlnl or bclUt,
All new
2) Elpan.lon or imp1'o'lIIl.nt of IIhtina buildinl
01' racUlt, N/A
3) N.w mlchin.rl or .;uip.tnt N/A
approx.
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'AIT IV.
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4) ".ow.tlo. ot oll.tl.. taclllt,
I) Ict.bIUo. ot .lhU.. fadUt,
.) OtIa.r N/A
b. I.t_t.. tlM of cODltncUoa
1) It..t June, 1986
I) eo.ploUoa December, 1986
c, frlacl,1l ,roduct., .... &ad aetbltl.. ot
proj.ct C.IC Cod. ot &etl.it, to .. tl.a.c.d)N/A
N/A
N/A
d. IIU..t" ...tut Ute of "'11'1... 01' etul"'lIt
o. Irl.t .arr.U.. .1,1al.laC ..., "pllcut to
....n....lla ,rojoetTo create industrial . research & develop-
ment sq ft for sale and/or lease
C, froject V... - I 'tat_.t ot ,UalblUt, ot tIl. 'roject
tor tlDaDcl.. ....I' ..etlon .1101 ot tIl. let
1. fl'ojoct II for 1adultrlal .... II pnoedb" II
,araal'l,1I CaHl) .t lonl'lllll.t Code INUol '1101,
aDUor tor .DOrlY eo....utt.. .... II tnoerlbo. III
,.ralr.,1I C.)(Z) ot Iown....t eo.. .'CUOD '1503 The sq. ft.to be
~g~!~r~Y~R4 V!+l,2' used for purposes set-out in Government Code
.,.., ..~.t""lt: b.t . tIl. .roject II Dot tor &b. ....
'..crlbe. .1"1' ,ar'I..,1I (b) .t Iow.r"'lIt Co4e
..otio. tllOIThe SQ, ft to be constructed will ~Qt b(i! used
for the purposes set oue in Government COde Sect. 91503 (b)
I, In, cowlDut. 0. bOld tll'lU rlltrlctllll tll. UII ot tIl.
t.dUU.. or ,ro,..t, None
.
COlT or %HI .lOJlct - 't.t. tIl. co.t. r...o..blJ ..e....r'
to tIl. actul.ltloD ot tIl. Itt. aD' CODltneUOI ot tIl.
,.o,o..d ,roj.et tOI.tll.r wltll aD, ..cII1D'., aD' .,ul.-oat
..c...ar, or coaw.nl.nt ID conn.etion tIl'.ovltb, u.
l.eludill aD, .tllltl.., ace... 1'0'" or apportloDDlat
t.dUti..
A. Id.tiDI Lud a1iI~
1, Coat..et Prle.
2. LoCII, rillal. Kl.e.
'750.000.
.
3. ,..., '.rmlt. aD./or r.I.. .
'ubtotal
. 750,000.
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I. JrclllteotUel aC la&la..rlq
C.' c:n.tneUoa c..t.
1. .Ito P.roparatloD
(on 5 off site)
I, "torlel.
$132,000
....
. 745.000.
I. CoDltructloD COD tract.
., "bor
S. 'tllltl.. CoeD.ctl..
hbtetel
D. "chla.r,..d 19a1PIIDt
Bond Counsel
Company Counsell. Janlc. COlt .
Credit Counsel
'l'rustee Z, la.tallatloa .
Paying Agent/Registraj .. 1
Credi t Agency ..tota
Issuing Authqrity Fees
Private PlacEllrentlW61Pt\hrlll COaetrucUoD
Placement Fee . rr. June to Dee)
Letter of Cred1t Fee 50% out
Index Fee
rustee ,. 'lauelD,. Z.,al, IlIc.
(.l.all ...cU,)
(Fees of Issurance)
G. QDDtlaloDc, (If .,ptoprlat.)
(1ncluding Leas1ng Commisgions
torAL onas
. 2.600,000.
~,477,000.
. N'~
. 70.000.
~80,000.
'193 nnn
,
. 4,770.000. .
101'11 Proj.ct eo.tI .., Dot laclud. wortial capital. ..,ta, ....a....
lD,.ator, or ....-ptloa. r.pa,..at or rofla..clDI of .llatlal
ladollt.da... .tb.r th.. coa.tructloa 10'.',
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,AIf ,. DUClIPTIOI or ftl PUaLlC I.pm - PrOtld. . ....c,:-Iptioa ot
lb. public ..a.tlt. pur.uant to erlt.rl. coatala.d la ao,.rameat
Cicio '.cUoa 115D2.1, WIlleh .ald .eer.1 fr. ud.rtatlal tII.
projlct, elf .ppllctbll. latonaaUoa la thh IIcUoa II to bo
,IYI. tot both tII. Appllca.t aad .11 otll.t .atltl.. th.t viii be
prlaclpa1 .lIn of tll. taclllU...) Creation of emp1oyment.property tax
and sales tax increment
A. IIplo,...t ....tlt.
1, CurroDt ..,loJlU.t IDd ,a,roll II, cat'lor,
(UDa,...nt. .tillld. lIII.kl1t.d. or ..lIt111.d) ot
tll. AppUcaDt vltUD till Clt"Collnt, (lull-U..,
part-tl.. lad .la.oDal)
Estimated: 125 Full-time jobs.
U full-time job per 1.000 sq ft + 25%)
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.. ..t~t..t ..cr..... .t ,.bllc ..rrlc. e..t. b,
.Irtue .t ....l.tloa .t tIl. proj.ct Cl1Iell .. ...1'....4
wlt..o or .....lOJMllt c..t.) N/A
'AIt n, DaCIIPTIOI or PUJLrC DftIIIID1' ,.. 1..lJAICI or _ D
III IAIIIIVII AIIHDIr PIOPOIID D !III AP'LlClfIOl
A, "lo",lIt elh,lIc_llt - will tll. l.,l.tI.. of tIl.
proj.ct loatrlbat. to jOb CI.,1.e_llt. Clveb .. ro..ltIDl
I... .It. clOWIIICO or deal.. ot c.,.tlll& tI1'lll)' No
I, ...l'I1. .Iural '1' a.tar&1 '1' laltblt.. ro.oarc.
"1l"rY.tlo. - will tb. ..,l.U.. .t tII. ,ro~'ct load to
..er..... utUlutloa .t rolOlII'ud Yes, Electrical & gas useage
1, IItlaat..f Iller....d atllla.tloll ot ro.oureo.
To be determined
J, I.tlaat..r laer..... ID 10.t to tIl. ,.bUc duo to
..c...." atUI..Un None, Industrial users to pay for their
own use.
C. Do.. eoa.t.lI&tloll of tII. ,roJoct. or c.,lotloll of tll.
projoet. .... IIlJ' ad..r.. ...h'o_lItal I...cto. lacl.dl..
ad.IUoll.l walt. '''po..lf/es, Additional non-toxic waste disposal
which is to be paid for by users.
1. '.t~to or tIl. oll,lro"'lIt.l t.pact.
2,
laclu.. eopl.. of III' ro,dro' 1II,lro"'lIta1 x.,act
bpo.t. N/A
D. Ico!loale IIIP.ct oa tb. Clt,. Collllt, 1114101' 'tot.
1. I.tlutl tIP.. aael eOlt. or uti ,.blle ._niee. :
1'....1'.. II, tb. ,roJoct To be determined
J, ADal,... of tIIo COlto to tbo Clt,. Collllt, IIId/or 't.t.
tor ,.bUc "'ro'...at. laelu'IDI _Ullt, _"radl..,
Itro.t "'r"..at., tratrlc eoatro1 oabane...at, aad
tII. co.t or tla..elal ..eb lIIpro....lIt. N/A
,AIt 'II. IlLOCltIOl
A. ....oa tor '.10c.tloD - It ria'Delal I. .'.uir.d tor
I'.loeatloa of. t,cUit, within tho It.t. or C.Utorllla,
doe_lIt.tloa that tho 1'I1ocatloD II clu. to ... ot tho
tollOlllal:
1. An IlIod.,u.., or tll. "l.tlal t.el1lt, N/A
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2. l.tiMte. ..,10,..Dt a. parroll lIPOD a.l.UoD of
,..j.et To be dtermtned
S, "tIMted ..,lo,..at ad pa,roll two (2) "U" otter
,roj.ct e..,l.Uoa To be determined
.,
l.tiMt., U 0,,1 1 c.bl.,
"1&'011 I. nlat.. a.
...,lotln of tII. projllt
of I.cr..... ..,lo,...t
...,lc. tl.l.. ... "
To be determined
a.
tII.
5. IDdla,UoD, U oppllcabl., of aUcip.ted lIIpact of
tII. proPOlld .... job. .. probl.. of ....1'.
lIII..,lo,...t 01' tIl. lI.rd cor. ....,10IMDt Additional jobs to
lessen unemployment
I, Ioc_.t.Uo. tII.t tll. ...,l.tloa of tla. proj.ct will
ntal. job. tNt ....ld otll.ntlt. be 10.t, If
."lle.bl. N/A
.. ".ourc. CoD..rr.tlo.
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1, "pl'D,UOD a. doe.....t.tloD of ..tiMt..
.....r..Uo. ot o.oro, .laoral 01' ..tll1'l1. or
all1t...t.d ro.ourclI .rllia& ost of tla. proj.ct N/A
2. IIpl...tloa aDd doc_at.tlo. of tll. nductloa of
VlIt., IIIpro....at of rllo"1'J 01' l.t'.'Ulc.Uo. ot
atlUa.Uoa of '"OIII'el tla.t otll.nth. lIOuld III 1...
tat..linl, sUll..d, ""ted or aot nconr.d N/A
C, CoD....r ....flt.
1. bpl...tloa ud dOCIIM.tatlOD ot tll. ..,.O....Dt of
lu.Ut, or IU&Dtlt, of prOduct., .a'I'I' 01' r.1&t.d
IInlclI II, tII'tu. ot '.l'Uo. of tll. proj.ct N/A
D, OtIl.r ....flta
1, Will proj.ct eoatrlllute to tla. I.,ro....at ot
"td.aul ...lro...atl1 tact.n' Yes, Removal of vegatation
overgrowth.
2, Will proj.et .oatr1lIut. to tb. rlfltaUaaUoa ot .
d.urlorat.d 11"', 01' ..nl It IDcr.... .eoaOlllc
...tllla... ot aD 1&"" Development of raw land to increase
tax base.
S, I.U..t. ot laer....d local .lId .tat. tall', f.1I aD.
oth.r r...au.. due to tb. c..,l.tloD of tll. p.oj.ct
Increase real estate taxes
Business license fees
State , local sales tax from industrial producers.
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Z. A .lpUlcat A.... III tII. tlra'. ...ratl... t11lt
WIlle I'Itdre . cur.r.at 1.catiDII N/A
J, A Huelal ....torl_ .ur. tII. lahUaa t.dUt, h
lecahC N/A
e. lilt lahtlal llu. I. 1.,lrla, ... .....t'lIe _4
..del' HOe_Ie cnclIU...
N/A
I. All teoll_Ic ...c to ..,. .10..r to ... flra'.
c..t~r. or ..,,11..
., Otll.r
.. Ifill tII. ...,.., I'Itllll It. carrellt ..,10"" .t tII. ...,
taclllt" N/A
C. VIIlt ate,. .,111 tll. ..,aJ taU to alUllta tII. artact. ot
tII. ralocltl.. III It. clrr.at ..,1.,...,
1. ..locIU.. ....a...
N/ A
Z, ....., carpooll, Itller tra.portoUoa ..Ii.ta.a N/A
3, la.ra..., c.....a..tl.. N/A
.. Otll.&' N/A
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D. Doc_ataUolI tIIat luch r.locatloll II .,c'''arr to pr....t
tII. relDc,UolI .t lo.taUd o,.raUoa. ot tIIa ."'Ia,
..t.lel the .tlt.. or the .baado...llt ot .ub.taatlal
o,.rltloll' ot the ."'111' N/A
'AlT nIl. DlSClInIOI or DI .IOPOSID IIIUDCI or DI IOIIDS
:
A. Tnt at 'l....lIt
1, 'rhat. Bank of America,Corp.Fin.Dept.5051 San Francisco,Ca
2, Public
3. ..,oUltad
.. 'ro,o..d t.&'III ot tII. 101lel. Maturity 10 years
C. IlIdlelt. ..tIIod or rlalacla,
1. LOla of boad ,roelld. b, Authorlt, to A"ll.lat N/A
2. Lta.. ot tacll1tl.. bJ Authorlt, to Applleaat N/A
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lutall...t ..1. ot t&ClUtt..
"Uuat N/A
~ &latllorl tr to
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Sale of bonds by placement agent
D, I_hate tIl. Hearltf or tIl. lIo.d. ad tIN ..tll.. or ...,...t Bonds to be
secured by a letter of Credit drawn by Bank of America
1, Attacll ..,1.. or th.t ..~.t. aU., ettlelal
atlt....t. ft ".e1lal.Uf offlelal-tt.t....t,
....1'1'111& ,QIIO.t doe_t To be provided_ upon drafting.
2, 1...Uff ...,..... to 110 ...d to .., d.bt .."le. Cash flow from
sale and or rental of industrial units
I. I".tlt, tIN ".opo.04 "ruI..1' or tII. MAd., ..d'&'Writ.r
ft 'l.c....t ...nt tor tII. Appl1cat, ..d .ttaell I .'p, ot
. tnt.th. ..r.....t vitll .aoll ""&'Writ.r or ,l.c....t
....t Bruce Barnum, V.P. Bank of Ameri~ Corp.Fin.Dept.505l
555 California St., San Francisco, Ca. 94104 (415)398-3909
, , I.dlcat. ..tII.r tII. bo.elI 81" pro,...d to IIoh...d I.
'.011"1' tor ... or _1" out.t811dlal MAd., or 110.11. or
.1a., or ,utlr In .acll ...b.... ..d putl, fol' cub or
proportf. It '0, d.. cri 110 , N/A
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SIrnATuRE
'!he undersigned as a General Partner of the Applicant hereby
certifies that the undersigned has the autmrity to bind the
Applicant to contract tenns, that this Application to the best
knowledge and belief of the undersigned, contains no false or
incorrect infomation or date, and this Application, including
exhibits and attaclments hereto, is truly descriptive of the
proposed project.
I
IlATID: i 1- I 'I -f'':.~
"APPLICANT"
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'"'" ~ """" am, ~ ""
BY,2il
Irvmg M. Chase, General Partner
Original Application: August 20, 1985
Revised Application: November 19, 1985
.i ~..oi;',," '---"" ""'.. i ~." . "'i'] "1' iLon", -
; ~', -'- <.:.... ' :, . '~.,.- ,
iL-.'.."... , ~",;.::;. ' '-<"..:,' . "";;'...: . ~,
- 0 ~u~coy . l~ I: I. I" , " '<.' , -'---
'... . - .' ':' f...~~':.'.., I a ~'::r(" ..: . ~ .
i' , .r.::- ~ d[f;~,"~r....~ D .:::...'., '~IF --".:..,;. . '"
:~~:. ~ J ,..... ~.;_ re,.''''' (:~\~:1. \ ~~ ~ I~. .
~".ll - i .i~_ . z ( " 'hr-
. ". .:Ji .. .. 'i' .. ..1 ,. . ":.r -T
,c'Q'"" ",,- hiift;:,,,, :.' . '.., . -. I ,.." " :1.. ; I
..~;( P' Ir!LF'''' .:-"1""",,-,, ~ .I~ .,:-11 "'.r _+.11-"'-;-
. f.;7, f:f~., '.Ill ' .. ., ii, - +~ !' ':'l ' .' ii,
I~! ", i~~': "." ,I.. :(~,'r. ~ 71~~:C~ l'"'' '::
", ,"'\): :'::' [1;..':.~: _~~'I~ ~~"'.':I
--\::-.- .t
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~.., . iJ~:i>_~:~ 7~ "~~~;~I"r c ~;~~ ~'. -.::
"\:~ ~'..;:,,-'1E::,''"<~h''.''.":a: :, .~., " D;.. W,rllls,rin,
, iLl' r gj'~~; .: '~::: .-:;". i "; ~~l 1- ~KMOOI...t.i ..- !
':a~ \~ ,. ;".::--.' ": "~:'i' · '. . ~ . l~-"- =~: .:;-tSAN _Jt2~
J~,'T.ii-1.. \~~ J" '. m.::~'~~:r{'~'i..,.,~'!' .~~l.-'-"-,'~,,-,".;' ',:" ,!i ':'1" :,. ~,!I;.;;!- "t ; B~"NA-hnlu'i'--o ~~:w.
oF. - I~'"'' 1- 1~~ II" ; '.~:-7 ~~..Ii ".'"JI1' ~ ;~
,~~.:~ ;.. "[';"" "'!".H" J~~fh! ,.. _..:,," 'jlit.~l._"':,";:~' ..~-:f.~~.. -"--:.
'f'F1 :-.- lJ. ,..' . ':~~.. IHi -: :=!.: - 1-'- r- .1'0 .. ~. ...lli ' . .
'-." , 'i ;-t(/o:.:.. \ ~~ ","0 I .~ .;.,. 5':. ,.,: ,S." .' .-1~ ~. -,; ~...:':.~... I,"",' ~.it+'-' I, ·
I~ ~ ~ .llIy .~l___ >= . _ . '1"5" ~,;;r', .'.Ii' '.". ",....:. ~ =.~.. I , ---..:.... I..~:
. A . ..-.... ---r--. ~1~'I"p'~I...r..~-, -": ,"
C" '~!:a -' ~"~~ IT'.,':" !T.... -'...- ...~ . ...."'.~ - .;....~.i~-i.::( ......m..'l.. ;--- ~ ~.
:' ;-.." . . ". ,-p'F:f\" <'" --:-~..' ~ I~~~.O;.'~';-.:r":: . _'", ",: ." ,.. ;:. .0..:....:..:- .~ ""'J'" ',;" .
______ . /~'__: i L- \.. OUll .'''';-. Y,.,. ~ ~I [__ _D Df.' ,- ,.
~. .'1 r-ew.;..~.~~~!~,,;,~ ATO AV~;" ..~~'_.",';~";.Afl/A."1 : .:,'.~. ,'; ."ll 1.....F-1
; .#. ";~1I'(" .,~., l ,."- " L.!!. :. 'l.1.. ; ,. ., I" . '. ',,;,;:.....-'1.... '\"""" I, c ~ :"'"'
~"'-. ~ ""r.:;;:i,I':I"~'" lLJ~:':':"_ C'P','" :-'..1 '''~,~~.:;''-='-' ,__.~:'~'f-.~~
...d ~ : a:.:'~'~ I III. ~ z I!r,' lI' "1'" '~J'''' !~...",. .. "1' ; .,.... .... .'
~~ " ..,..~t ~:" ~il~~~'~~1"" i ,,~..I ,...'.. . !
it' : . -'''1 % I'~'I"'-='~'" t;';:; > I-"t-;; Wi: .. ". :"
I' ." l.- :or"". · -~ 1 QU ,t :. ; '", '. . '"I-' ..
......- .. ;~.~_~c;rr'''1 (" _!'!.:.. ~~-_ ~....!'1
. -.-,--". .. '..c.: .., . --, -'" '''''fa ;.. . ....,
1.-. " .". '<.oWn 5T . . ~ I MIll w
SY;; I' IIlll ~ . 5f.... ,- Mlu.. -- b. ' , .
'1'" 'j "f'-. ~@ '- ," -~~- ~"-; . ...... -. , .~. " .::.:..= ' .
'.:'('., 1; · .c .. ;':: ,;~,:~,i': b~,., : . '~....... . -"- ''','','' ....::::.--',--
. ..~!j.".i :..--,,-.7....1: ....~: .. -~- ...~I I.or ~o:.l 0 'f1II!II""
.. 1 :~ ~~,: ..,.,....;. -:. ~ ,.~~: &- """';j. ,ii' ~,,~o:.l '4' ..;" -7 I!.~'
. 'J' I :.... J..~ .... ~. -. I c.~"":f' '::il, ".,... oo=~~ I ~
r: -- ! '.,. i' .' oou"" "f. ,.~. ....... ~ ...."'~, !"..."
.ll - -.'~' f~'"4~. ;".\1\_1 ~~ 1I'1l:~ ~ " !.
----'! 'e .;,;, .trlflllC1~ ' '* .S.ID'. '. II ~
~ .. )l. I :.;-.... ~ I, ." ," -
.., .'Ul..~t.;~ (i,y ~... -- ..,,, - ~': n
~,., ..; i. : . JIII"" D;~: ., ......;;.. ",'" i ,;
.,..IN' :.J.~ - . . ifl,. ... . , ~ ", :Q . ~
ri'.- .. '.J ' ; '~~,,;' i:g,:;l'l~ .
t s...~ ... ..,,~r~n r ...... .... <'r J '" - ~ O.."I~..'.
it... ~', .1; ':'I~~~i '!f"/ ~..: !: ll;J ~.?~.,li.._. "'?~""".. ~ :;. ~....:,
.....i:...~li i~'I' ,.;,~.I ;'lI'~; .'''~ ,.? ,~."IJ:.;~.~ ,.~. =.... :
{'..,II." O" Y' . Jr- QUI' un, . .;.... ~ ~~s 61/1 0-
.. , ; .; : _-.IT-O' . ou.~ .~~~. . ,J'~~- ~ '. ~" ':." ...:. J.
T _ _, " . ~ ..' ~ ~. .. 1 .... ..... ;r '"
.:.',1;.'1 : _ "':"",.' J.,:. ',. ~ :r. " ':: =./.......:: !r.....~ -; ~ ~...~/'t"'-"C;,;o--I
. _ J r .,.. ,..,. .....-. .5 ".IN' 51 UIro<''!C7 ~.. GO"C_U'
- ~ _:t -, 1-; ..,.;"", ,.. '" o. -.:.........;. Ii! ':~b. Sl ~ ~'i:!'."--'i
~II; ,. R ....; .O',"' ....,. ..I(.... --.:... L...;--::1 _.. ...(...,~ ~~
_ ;; tI - C'QUtIIIo' ~ ".., ~..... COt 0<< 6 .. z_
.....--. t : - ....SClf -i"~' ,~ ~ z" ~ I -
'~ -5&t- . ~- . :'~'COlTOti' - uEl~'~J
--'" ~ lVO, -.... ~ .'; ~:,';....m-Dl- .'
/ ....."-f- ~, " .- ,wy .:ri', " i ...:. -~.
, .\._ ,; ,J-:- _ '_ _"'\
\5":', M,. I\" '.' -:;:;-1-' ~~~=--- ~-.~ . "'.". "0""0;
\ t':::~!:"-Jt~l:'~9.f:1~"'~:-l.~}~ \ u~ - '~=:lI'_;""",~1 ~~".'~~" ~r=::::::'=.j, '; (LLOINMDA~':'j~j:~'::"I:';:~_':
c.....~...~ GtOllGIA .~T~.'."'j... ~. -t;,..... i -~o ~ ~"
,.. ......... ., 1~,,"~ I :.1-:
;.. '1: l., _Sl .. i ~.t~ '-.._... V ~ I :.~..!:
--- \ ;'. .. ... ,. i' ;;; :!II:! -----' J/J, ~ t..r...I:.:.!"".'
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