1974 REG MTG MIN AUG 20 ** - Laserfiche WebLink

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Councilman Gonzales stated that in checking into this matter with Staff he was told the type of financing.that is proposed is along the same lines as used for the sewer assessment district. Councilman Gonzales said after listening to the presentation this evening, he is concerned about the Cit 's position. Mr. Gonzales asked if this project does not succeed or move ahead, is t1le City then responsible for it and would have to take it over.. Mr. Whipple stated that is At what they have attempted to present here this evening. Mr. Whipple said the real question is whether or not the City wants to see this property develop, and if so, whether or not the City wants to encourage the development by an alternate method of financing. Councilman Gonzales asked what the applicants feel the value of the property and structures will be in approximately nine months from now. Mr. Whipple answered somewhere in the magnitude of $7,000,000. Mr. Villelli stated he believes Mr. Gonzales asked what the cost will be for putting in these improvements, and that will run somewhere in the neighborhood of $4,500,000, which will in- clude the office building and the apartment complex. Mr. Villelli stated that they are also very concerned about the status of the country's economy, as they have a very large investment in the Cooley Ranch and they are very hopeful it will de- velop and grow. Mr. Villelli continued that they are taking one step at a time, moving cautiously, and all they are asking at this point is that the City Council does not take a negative attitude toward the proposal this evening, but give them a chance to show their good intentions and good faith, and see how the project develops and how things work out. Mayor Huntoon thanked Mr. Whipple and Mr. Villelli and stated that he and the other Council members and Staff sincerely appreciated their very fine and thorough presentation this evening, and the progress report given. Mayor Huntoon said he hoped that no one is construing this matter as a moral obligation by the City Council as far as the assessment district or approval of the proposal are concerned. Mr. Villelli stated that they ceetainly cannot ask the City for anything until they have taken the step to prove themselves. Mr. Villelli said that so .far all they have is proper zoning and a master plan, now they have to take the risk and show that it can be done. ADJOURNMENT: There being no further business to come before the City Council at this time, on motion of Councilman Rehrer, seconded by Councilman Hayes and unanimously passed, Mayor Huntoon adjourned the meeting at 8:45 p. m. Approved this day of , 1974. Mayor COUNCIL MEETING August 20, 1974 HELEN A. RAMOS City Clerk • A regular meeting of the City Council of the City of Colton was held on the above given date at 7:30 p. m., in the Council Chambers of City Hall, Mayor Huntoon presiding. • Mayor Huntoon led the group in the Pledge of Allegiance to the Flag. Invocation was offered by the Reverend Floyd Yeates of the Olive Street Baptist Church. ROLL CALL: Council members present were Hayes, Spragins, Rehrer, Gonzales, and Mayor Huntoon. Also present were City Manager Huffaker, Assistant City Attorney Edwards, and City Clerk Ramos. CONSENT CALENDAR: On motion of Councilman Hayes,.seconded by Councilman Rdhrer and unanimously passed, the Consent Calendar was approved as follows: 1. Approval of Minutes - Regular Meeting held August 6, 1974, as on file in the Office of the ,City Clerk. 2. AAroval of Warrants -4 os. 9412 through 6998 and Nos. 13661 through 13923 (August 16) inclusive, as.recommended by the Director of Finance. 3. Notice of Completion - Rodding Cleaning Machines for Sewer Insertion Renewal Contract. Approve and authorize recording. MAYOR'S REPORTS AND PROC LAMAT IONS : % AUv2;1974