DRAFT MINUTES*
REDEVELOPMENT AGENCY
April 26, 2005
9:08 p.m.
(following the Regular City Council meeting at 7:00 p.m.)
The Redevelopment Agency of the City of Sunnyvale met in the City Council Chambers, 456 West Olive Avenue, Sunnyvale, California at 9:08 p.m., with Agency Chair Chu presiding.
ROLL CALL
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PRESENT:
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Agency Chair Dean J. Chu
Agency Vice-Chair Ron Swegles
Agency Member Fred Fowler
Agency Member Julia Miller
Agency Member John Howe
Agency Member Melinda Hamilton
Agency Member Otto Lee
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Staff Present: |
Amy Chan, Agency Director
Joan Borger, Interim Agency Counsel
Robert Paternoster, Agency Secretary
Susan Ramos, Agency Clerk |
CONSENT CALENDAR
Vice Chair Swegles moved and Agency Member Howe seconded the motion to approve the Consent Calendar as presented. The motion carried unanimously.
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RA 1.A |
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Approval of Draft Minutes (March 29, 2005) |
CITIZENS TO BE HEARD
There were no comments.
PUBLIC HEARING/GENERAL BUSINESS
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RA - 2 |
RDA 05-006
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Sale by Lehman Brothers Inc. to Stanley Thomas of All Rights and Interests in the Town Center Mall Property, Fourth Quarter Properties XLVIII, LLC, and the Former JC Penney and WHL Properties |
Robert Paternoster, Agency Secretary, presented the staff report and corrected a typographical error in the staff report which read “March 23, 2005” and noted it should read “February 23, 2005”.
Mark Calvert, Lehman Brothers representative, gave an overview of the process to date to purchase the property. Mr. Calvert responded to questions regarding obtaining sufficient funding for the project, the construction loan funding, Bridge Financing, Fourth Quarter 48’s relationship with the project, impacts of the sale, whether the process had been delayed by the City, and any potential design changes to the project.
Ron Pfohl, representative for Fourth Quarter, responded to questions regarding the design of the project, the construction loan funding status, members involved in the project and new partnership, potential changes to the design and project delays.
Jane Vaughn, representative for Fourth Quarter, responded to questions regarding project timelines.
Mayor Chu opened the Public Hearing at 9:12 p.m.
Neils Traylor, Chief Executive Officer of the Building Trades Council of San Mateo and Santa Clara Counties, thanked the Agency for looking at ways to create jobs, and an economic stimulus for the county. He thanked Forum, Lehman Brothers, and Jane Vaughn for the work and commitment to the project and community.
Harriett Rowe, member of the public, suggested the Agency consider the potential design changes that staff feels it could support.
Tim Risch, member of the public, advocated for downtown redevelopment and congratulated Forum and Lehman on finding something that benefits the city. Mr. Risch asked the Agency Board to have an open mind when the developer brings any proposed changes to them for review and approval and to consider market changes that may have occurred since the plan was previously approved several months ago.
There being no further public testimony, the public hearing was closed at 10:18 p.m.
Staff responded to questions from the Agency Board pertaining to possible changes to the plan, business deal, and density in the project.
This item was presented to the Agency for information purposes only. No action was required.
ADJOURNMENT
Chair Chu announced there will be a Special Council Meeting held on Saturday April 30th at 9:30 a.m. at City Hall in the West Conference Room.
Chair Chu declared the meeting adjourned at 10:27 p.m.
Susan Ramos
Agency Clerk