HomeMy WebLinkAboutR08-Redevelopment Agency
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DDBLOPIIIIIr DEPhum.u. OF TIll
crrr OF SAW RIrU'AImDO
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IIE01JBST FOR COIIMISSIOIl/COURCIL ACrIOII
Fro.: KENNETH J. HENDERSON
Executive Director
Subject:
IIIDUSTRUL DBVBLOPIIBIIT
BOIID FBB (COII_~~TY HOSPITAL)
Date: JARUARY 17, 1991
Synopsis of Previous CGaBisSiaa/COUDCi1/C~ttee Action:
12-02-85 Mayor and Common Council authorized the issuance and sale of Industrial
Development Bonds for the San Bernardino Community Hospital.
12-16-85 Mayor and Common Council authorized staff to invest the IX bond fee and
release one-eighth (1/8) each year to the City Treasurer.
01-16-91 Redevelopment Committee recommended a set-aside of $10,000 for a
feasibility study, with the remaining fund to be held for a future use.
Rec_ended Motion:
(COI.__~TY DBVBLOPIIIIIr COIIMISSIOII)
rBn' TIll COIl__~t'Y DDBLOPIIIIIr COIIMISSIOII APPROVB TIll APPROPRUTIOII OF $10,000.00
FIlOII IIIDUSTRUL DBVBLOPIIIIIr BOIID FBBS TO n1lAllCB TIll COIIDUCTDG OF A FEASIBILITY STUDY
RBGARDIIIG TIll PRBSUVATIOII OF 01WlGl GROVES AIID TIll DDBLOPIIIIIr OF OPBII SPACE 011
OIlB-BUllDRBD, FORTY ACRES OF PROPBRTY OWIIBD BY TIll RlllICIPAL WArD DEPARrJown:.
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.a.aJUUII.LD J. HK....U'!lQ. heeutive Direetor
Develo~ent Department
Contact Person: Ken B~derson/Barbara Lindseth
Phone: 5065/5081
Project Area: Borthwest
Ward(s): Sixth
Supporting Data Attached: Staff ReDort
FlJlO)IBG RBQUIRBMBBTS:
Amount: $BA
Source:
Budget Authority:
C~ssiaa/Counci1 1I0tes:
BL:Jtak:3542H:
Aaenda It. 110.
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STAFF UPORr
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Industrial Develo_ent Bond Fee C~itv SosDital
On December 2, 1985, the Mayor and Common Council suthorized the issuance and sale of
Industrial Development Bonds for the San Bernardino Community Hospital in the amount
of $35,000,000.00. At that time, the Development Department received $350,000.00 from
Community Hospital representing the one-percent (l~) Industrisl Development Bond fee
required from the sale of the bonds.
On December 16, 1985, a motion was approved authorizing Development Department staff
to invest the Industrial Development Bond fee and release one-eighth (1/8) of the
$350,000.00 ($43,750.00) each year to the City Treasurer's Office which, in turn,
would be forwarded to the Bconomic Development Council.
Since 1985, five (5) payments of $43,750.00 each have been made to the City
Treasurer's office for a total of $218,750.00. A total of $131,250.00 remains to be
paid. Since the Bconomic Development Council no longer receives any funds, staff
requested direction from the Redevelopment Committee as to disposition of the
remaining $131,250.00.
At the January 16, 1991, Redevelopment Committee meeting, the Mayor presented
conceptually the potential development of one-hundred, forty acres of property north
of Sterling Avenue in the foothills. At issue is the conducting of a feasibility
study to in connection with the presentation of orange groves and the development of
open space. After discussion, the Committee voted to recommend to the Community
Development Commission approval of $10,000 in Industrial Development Bond fees to
financing the conducting of said feasibility study.
Based upon the above, I recommend adoption of the form motion. .
~Il 0., Executive Director
Development Dep taent
IJH:BL:kak:3542H
COMMISSION MBBTIlfG
Meeting Date: 1-23-91
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'1be Jfayar and n__.... a:an::u. _......-1 t:IIe 4_mnce and .ale of a lx:n1 far
tile San ~ no-wdty IIc8pital. A ~4. of ell ~ _4....
am as fCI1.l.ows:
12/19/1983: 'b Jfayar and n . Q:QncU """""ad RIIIa1ut.icn )II...... 83
4&&, J)w'l.. 4.. -1 rril.....4"".
11/18/1985:
'1be Jfayar and " .\ Q:QncU adtpted BIIIr:llut.1cin )II~ 85-
472, J)w'l.. L RII.iI.'.~m. ('Dda J)w'l. L BIIIr:llut.1cin 1IU
~ j----- - 110 IId1 tDia bad .1"lp"ed frail t:IIe
initial J)w'l~ L.
12/02/1985: ~ Jfayar 8Id n & Q:QncU aA. ~ A A4 - In'-'',.., P...... 85-496
~ t:IIe 4-anc. and ale of b:IIm.
12/H/85: II:Itkin ___-.8l! to ~ Dlll-1. ~ A. Dtoa.-t-.L 8taff to
mv..t Q t.. and 191.... cna -f'llth (3,/8) -= ~ to
L.......1a D111-1. ~ L Q:QncU ~ City ~'. office.
Ql ar aJ:QDd 1)1oo. I... 23, 1Sl85, tile Dwe1"1 4. ~ ""v'e'ited Q
&. in tile IIIIIl:UJt of $350,000.00 ncaiwd frail San &.....u:dino thIoIowdty
~ital. At tIat tDB, m. -4~ (3,/8) of t2u.. amcunt ""- ~-~ to
the City 'l'J:euunr: to A...-.4 to tile a.........J.c D8wl'l 4. Q:QncU, fal-
lowed by tile lI8l:M4 I"\) ---I em DeE: I.. 3, 198& in t:IIe IIIIDJnt of $43,750.-
00; tbJrd ra1--. em n... ". 10, 1987, fcurth zeleue em Dei: .Ie: 8,
1988, and, fittb n1-- em Jarmzy 4, 1990. . ,
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Staft ~ }'QJr 8I1t:bar1zat1cn to re1-- tM ~_~L of
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