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HomeMy WebLinkAboutR06-Redevelopment Agency REDEVELOPMENT AGENCY -REQUEST FOR COMMISSION/COUNCIL ACTION 'm: Glenda Saul, Executive Director Subject: TEFRA PUBLIC HEARING - S. P . COMMERCIAL DEVELOPMENT Oept: Redevelopment Agency Date: January 9, 1986 Synopsis of Previous Commission/Council action: Ordinance 3815 providing for the issuance of Industrial Development Bonds. 10-7-85 Adopted Resolution 85-390 - Inducement Resolution 11-4-85 TEFRA Hearing continued to November 18, 1985. 11-18-85 TEFRA Hearing continued to December 2, 1985. 12-2-85 TEFRA Hearing continued to January 20, 1986. Recommended motion: (MAYOR AND COMMON COUNCIL) Move to continue to March 17, 1986. M<h ,J/t({f Signature Contact person: Glenda Saul Supporting data attached: YES Phone: 383.5081 3 FUNDING REQUIREMENTS: Amount: $ N/A Ward: . SV ProJect: No adverse I mpact on City: 240efmi 1-21-86 January 21, 1986 l .1cil Notes: I1nonrl'=l 1+0"" I\I^ /2- k, CI-. t OF SAN BERNARDh'40 - REQUE.sT FOR COUNCIL ACTION STAFF REPORT Ordinance 3815 provides for the issuance of Industrial Development Bonds. Staff has received an application from S.P. Commercial Development. The application is for a commercial project and, therefore, is not subject to CIDFAC approval. The developer has requested a continuance to March 17, 1986, at 11:00 a.m. Below is a recap of the application: APPLICANT: S.P. Commercial Development, a California Limited Partnership PRINCIPALS: Merv Simchowitz - 50% Pearson Land Ltd. - 50% AMOUNT OF FINANCING: $1.4 Million PROJECT: Construction of 62,000 sq. ft. public storage facility LOCATION: 3 acre site located at 155 w. Caroline Street TARGET DATE OF FINANCING: Final Quarter, :1986 CONSTRUCTION SCHEDULE: 1 phase completed within 4-6 months from date of commencement INCREASE IN TAX INCREMENT: $1,025,000 x 1% - $10,250 $1,400,000 x 1% - $14,000 RESERVE AND DEVELOPMENT FEE: JOBS: 6, after construction The developer is proposing a public storage facility for thie site because of its location on an earthquake fault. The developer believes the only projects suited for the site would be a storage facility or a parking lot. The resolution before you today makes certain findings and determinations pursuant to the Tax Equity Fiscal Responsibility Act (TEFRA). 240G/EB 1-21-86 75-D264 w... ,_r ft_lew, ..1.. to a ataC.. ftport of t" _. PartidpotiOD 'an_.t wl.th SP _Rial ....I_.t. ... - .. ~UCAL"" _"... 0' ...o1_.t - CoDa..wet I lod...trial/_Rl.al btaU _'.oUU.. ....ul. .f Dnel...al ProDO..d U.eT "fI'HM:Dt ~ Coapt.tLOD Date !!!!! 1 2 3 4 5 6 7 I Ap.U IS Aprn 17 Ap.il 19 Apri 1 '1 Aprn " Ap.il 'S Ap.il 16 April" '1,140,000.00 '1,344,000 00 . 3",000.00 . 112,100.00 . 100,000.00 . 100,000.00 '1,460,000.00 '1,105,000.00 ., ....... 'articbatl._ Off lit. Co.t. eo..l.tt.d tac.DCJ lhe.., Caatract . ca.o1l.../eooc.....1.100d eooc..et IDe lad.. Dtl.litJ tn..bi.. aad CO'. 1-6 "-- Coat...,t . Gr..i.. CoDtract C _l.""./caroli.. 6 CO'. 1-2 Contract C "lltl Laoe Itom Dr.ill IV Port ioa of Co.tr.et IIDIJ Cootract . "rlffie lla"al. IV Portioa 1ID1J Coat...,t . "at I w_ Soil Inve.tiRatioftt ZftRineeriftE Citv Feel , Utilities IALAIlCE Work ....ini. '*Ccmt"act , a.Uroad erO..hll ~ Co.pletioa !!!!! I.pt. IS 2'0 atan Jail. %0 Itart Kar. "'2,601.00 . 50,101.00 '10S,022.00 '110,532.00 . 12,6S9.00 '112,144.66 "30,267.00 . 20,000.00 .3,140,000.00 16 (Caapi.. Vor1d) 16 (KiDi Ito....) tz,037.160.00 ($1.704,040,661 . 333,119.34 ...ti..t. a..u.e. ..ilrol. Grlnt 'anlel,ltion. Jf arant i. Dot .pprovld, a.ti..te i. .150.000 to be .pent SO/SO with Colton. 0080C/SL 11-18-8~ .. ' --,~~ . .. ....'..... c: - ~ . p,' '~ II' ~ < '- -{X ~ ~~\'I r .1... '\... - I ,1. ,;1.I.!. . J:J.\\. . t.. '. .:: \-l. r 1'1 'I . . . ' , . J'" ~ -- I I I ~ ...." "'S"':~".:'.~:";..'" ' .!~: ri : f,,' , : ..; .:.... I ::0.. "';r-: L If: .1 . . ,/ .:- >~~., J f' ~iVJ~ : : .=u If:~ e,,: . ' . .. 1; p: \ ~4 1-;.~ .. :' . r ! ~ ~ . '_ . . : -; t .. : / ~ .! . ,,' ~: ". ...:. /! ". '/i i.:!'.~"'~" ~ //.":,,?, '. : ~ .."'.- . ,., ~.. ,,' if;\\ ~.' ~ -'-:':= .~. -. - · / .. :t., . . . -;- . .,~ ...-).;.... '. (f'L,': '-;-::f" ': . :: ~ \""":':';" ~. I Iii . f>o' ~ \ I. .... ~<-= / 1-'-1 ' oil ~, ' .," . . ~~ ~ 1, t'j ',I iJt \: ti . 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