HomeMy WebLinkAboutR06-Economic Development Agency
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Dflv E L 0 P'M EN T DE PAR.E 1'1 T
OF THE CITY OF SAN BERl'IARDINO
REOUEST FOR COMMISSION/COUNCIL ACTION
From:
KENNETH J. HENDERSON
Executive Director
Subj ect: "MILLENNIUM MANOR"
SEl'IIOR HOUSING PROPOSAL
Date:
January 29, 1992
Synopsis of Previous Commission/Council/Committee Action(s):
On November 26 and December 16, 1991, the Housing Committee and
Community Development Commission considered the Millennium Manor
Senior Housing Project. The Commission did appropriate funds, but
referred the matter back to the Housing Committee.
On January 14, 1992 the Housing Committee considered this matter and
recommended approval to the Community Development Commission.
Recommended Motion(s):
(Communitv Development Commission)
That the Community Development Commission approve the Cliff Carel and
Associates request for a construction loan in the amount of
$1,735,000 for the development of a 40 unit Senior Citizen apartment
complex.
Adm~ator
~'~~ERSON
Executive Director
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Contact Person(s):
Ken Henderson/Doris Daniels
Phone:
5081
Project Area(s):
N/A
Ward(s) :
One (1)
Supporting Data Attached:
Staff Report
FUNDING REQUIREMENTS:
Amount: $
Source: 20% Set-Aside
$1.735.000
Budget Authority:
Bein2 Sou2ht
Commission/Council Notes:
KJH:DAD:paw:0275q
COMMISSION MEETING AGENDA
Meeting Date: 2/3/1992
(p
Agenda Item No.
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DEVELOPI'IENT DEPARTI'IENT
OF THE CITY OF SAN BERNARDINO
STAFF REPORT
"I'IILLEl'Il'IIUI'I ~OR" SEl'IIOR HOUSING PROPOSAL
On November 26, 1991, the Housing Committee considered the Cliff Carel
proposal and referred it to the Community Development Commission. At the
Commission's December 16, 1991 meeting, the Commission considered the
proposal and requested that it be returned to the Housing Committee for
additional information, clarification and review.
Since the initial presentation of the information presented above, staff
has had ongoing negotiations with Carel and Associates. At the January
14, 1992 meeting of the Housing Committee, a status report was
presented. Based upon the status report, the Housing Committee
recommended to the Commission the following:
1.
It is now proposed that the Third Street Bridge be deleted from the
project. The original proposal included the removal of the bridge,
the widening of the street to four lanes, the replacement of the
roadway, and the construction of curbs and gutters. The cost that
was included in the initial proposal was 5148.146.
The present cost projections are $75,000 for the removal of the
Third Street bridge, backfill and replacement of the roadway. This
project can be constructed with another funding source to be
determined by the Agency. A review of the current DDA file between
the Agency and Cliff Carel reveals that removal of the bridge was a
City (Agency) obligation.
2.
The annual payments are now computed at $161,121. The deletion of
the cost of the Third Street Bridge from the project would now
leave a margin of $45,340 after debt service. This is based upon a
construction loan in the amount of 51.735.000 at nine percent (9%)
interest rate for a thirty (30) year term with a five (5) year
maturity. Carel would make interest only Davments for the first 18
months of the loan.
3.
The Rent Up and the guarantee of the project by the San Bernardino
Housing Authority needs to be further explained. The Housing
Authority which issues Section 8 "authorizations" will
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KJH:DAD:paw:0275q
COMI'IISSIOl'l I'IEETIl'IG AGENDA
l'Ieeting Date: 2/3/1992
Agenda Item No. ~
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DEVELOPMENT DEPARnIl STAFF REPORT
"MILLENNIUM MAl'fOR" SENIOR HOUSING PROPOSAL
January 29. 1992
Page Number - 2 -
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not guarantee this project. However, it has indicated that it will
direct and notify approved Section 8 applicants of this project.
Information provided by the Authority further indicates that there
is presently a shortfall of at least 2000 units for senior citizens
in the Inland Empire. Since the Carel units are targeted for
"active seniors" who are 55 years of age and up, the Authority has
noted that the rent-up of a project of this size (40 units) should
take approximately 4 - 6 months.
4. There would be a 1.5% Loan Origination Fee.
Because of the Low/Moderate Housing Fund's cash flow position and
in keeping with our previous discussions on this project, the
Committee recommended to the Commission approval of the financing
structure as contained herein, the establishment of Millennium
Manor as priority number one, and that this project have first call
on new Twenty Percent Set-Aside Tax Increment.
In considering the Housing Committee recommendation relative to
priority, it is important for the Commission to consider prior actions
taken in connection with the Arden/Guthrie Project, the Comprehensive
Housing Affordability Strategy (CHAS), the funds appropriated for other
housing projects and the current cash-flow position of the Low/Moderate
Income Housing Fund.
Staff recommends adoption of the form motion.
ICE J. ERSON. Executive Director
Development Department
KJH:DAD:paw:0275q
COPlMISSION MEETING AGENDA
Meeting Date: 2/3/1992
Agenda Item No. ~
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DEVELOPMENT DEPARTMENT
OF TIIB CIn OF SAB BEIllWIDINO
REOUEST FOR COMMISSION/COUNCIL ACTION
From:
KENNETH J. HENDERSON
Executive Director
Subject: IRLARD EMPIRE ALL
NEWS CHANNEL
Date:
January 28, 1992
Synopsis of Previous Commission/Council/Committee Action(s):
The Mayor and Common Council previously approved an.agreement with
Creative Communications, Inc., to conduct a feasibility study
regarding an all news channel in the, Inland Empire.
Recommended Motion(s):
(Communitv Develooment Commission)
MOTION
That the Community Development Commission consider the
attached request submitted by Creative Communications,
Inc., in connection with the establishment of an all news
channel and take what action deemed appropriate.
JU;ftft~ERSON
Executive Director
Contact Person(s):
Ken Henderson/Julie Reifel
Phone:
5081
Project Area(s):
All
Ward(s):
Supporting Data Attached:
Staff Report: Proposal
FUNDING REQUIREMENTS:
Amount: $ 1.500.000
To Be Established
Source:
Budget Authority:
To Be Established
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Commission/Council Notes:
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KJH:1ag:0496E
COMMISSION MEETING AGENDA
Meeting Date: 2/3/1992
Agenda Item Number: ---2--
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DEVELOPMENT DEPARTMENT
OF THE CITY OF SAN BERNARDINO
STMF REPORT
Inland EmDire All News Channel
This item has been placed on the agenda at the request of the Chairman
of the Commission.
The Mayor and Common Council previously approved financing for Phases I
and II of a feasibility study conducted by Creative Communications,
Inc., relative to the establishment of an Inland Empire All News
Channel. Creative has previously provided reports to the Mayor and
Common Council relating to its findings, conclusions and
recommendations.
Attached is a draft proposal received by staff which requests a letter
of credit or loan guarantee of $1.5 million to support a six (6) month
start-up phase and twelve (12) months of operation.
Based upon the foregoing, staff recommends adoption of the form motion.
KENNETH J. BEND RSON, Executive Director
Development Department
KJH:lag:0496E
COMMISSION MEETING AGENDA
Meeting Date: 2/3/1992
Agenda Item Number: -1--
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'IlllI vv~, uvu
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ORAfl
January 23, 1992
DRAFT
TO: TIM STEINHOUSB
FR: EDWIN HART, CEO, CREATIVE COMMUNICATIONS ASSOCIATES, INC.
RE: INLAND EMPIRE ALL NEWS CHANNEL
CC: MAYOR W.R. "Bob" HOLCOMB and MEMBERS of the COMMON COUNCll..
We are nearing completion of Phase IT of an exciting and unique project for the City of
San Bernardino to initiate a private, non-profit daily television news channel via cable outlet to
be known as the Inland Empire All News Channel (lEANC). The JEANC will deliver news 24
hOI1Ill Ii day. Initially, the chllDDcl will provide Ii une-huur lucal and re&ional news program
shown prime time Monday through Friday. The remainder of the service will be state, national
and world news provided by CONUS, a Minneapolis-based news gathering operation similar to
CNN. On an hourly basis throughout the day, local news cut-ins of 60 to 120 seconds each will
be aired. As the service expands, local news will also be shown on weekeDds.
We have concluded the following:
1. The JEANC should initially be delivered on COMCAST, which serves 40,000
subscribers within the city limits. After the ANC begins broadcast, the service should be offered
to the remaining cable systems in San Bernardino and Riverside counties. As more cable systems
deliver the service, local news coverage will expand to include the additional communities. More
than 2.5 million people reside in the two counties.
2. The JEANC Cotporation, a ,SOI-C3 non-profit corporation, has been fonned to
administer funding and employ a management finn to establish and run the daily news operation.
Creative Communications, as the company which has guided the project from the beginning,
would like to be retained to develop the mANC.
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3. We ask for a letter of credit or loan guarantee for $1.5 million to support a six-month
startup phase and the first 12 months of operation.
4. We project that through sales of advertising time and possible cable subscriber fees,
the IEANe should break even within 18 to 24 months. (See projections contained in monthly
report for December 1991.)
5. Creative Communications has identified 52 key foundations that, by geography and
interest, are most likely to provide grant money to help defray startup costs. With the
establishment of the cOIporation board, grant requests can proceed. (See monthly reports for
October and NOvember 1991.)
6. Should the city government approve, Creative Communications could jointly manage
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the IEANC,and Telecommunications Division, improving the quality of programming on Channel
3 while reducing the city's cost of supporting the division by as much as $100,000. (See monthly
report for January 1992.)
NOTE: The consulting contract between CCA and the City expires February 29, 1992.
To continue the project, the IEANC c01JlOI'lltion board should hire CCA, or another management
company, to take the next steps necessary to begin operation. That includes acquiring necessary
broadcast equipment and hiring and training journalists and technical staff as outlined in the plan
presented in June 1991 at the conclusion of Phase L CCA can provide CONUS transmissions on-
air within 90 days of contract. The prime time local news program -- the mainstay of the mANC
- can go on-air within 180 days of contract with CCA.
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