02/20/1986• •
COMMUNITY REDEVELOPMENT AGENCY
February 20, 1986
The City Commission of the City of Clearwater met as the Community
Redevelopment Agency at City Hall, Thursday, February 20, 1986. The
meeting was called to order at 5:15 P.M. with the following members
present:
Kathleen F. Kelly
Rita Garvey
James L. Berfield
Lee Regulski
Don Winner
Also Present were:
Anthony F. Shoemaker
M. A. Galbraith, Jr.
Cynthia E. Goudeau
Paula Harvey
Mayor -Commissioner
Vice-Mayor/Commissioner
Commissioner
Commissioner
Commissioner
City Manager
City Attorney
City Clerk
Planning Director
The Mayor called the meeting to order.
ITEM #2 - Minutes.
Commissioner Garvey moved to approve the minutes of July 18, 1985.
Motion was duly seconded and carried unanimously.
ITEM #3 - Resolution CRA -86-1 - Tax Increment and Lease Revenue Bonds,
Series 1986.
In July 1985, the Agency, the City, and J. K. Financial Corporation
entered into a Development Agreement providing for the development of the
Clearwater Square Project. The Agreement provided for the acquisition
of land, construction of a parking garage, and other public improvements
adjacent to the project. The Agency has carried out this project with
available funds including $300,000 borrowed from the City for land
acquisition and $980,000 borrowed from the City from Sun Bank/Sun Coast.
Both loans were made in anticipation of this bond issuance and are to be
repaid from the proceeds hereof.
The Bonds are to be repaid from tax increment revenues received by
the Agency and from lease revenues accruing from the attached lease to
the City of Clearwater. These payments are secured by a parity pledge
of parking revenues of the City.
Commissioner Regulski moved to approve Community Redevelopment Agency
Resolution #86-1. Motion was duly seconded and carried unanimously.
Meeting adjourned at 5:24 P.M.
Attest:
Mayo Commissioner
�"7
s
1. Call to Order.
•
COMMUNITY REDEVELOPMENT AGENCY
February 20, 1986
ACTION AGENDA
1. 5:15 P.M.
2. Approval of Minutes 2. Approved as submitted.
July 18, 1985.
3. Resolution CRA -86-1 - Tax
Increment and Lease Revenue
Bonds, Series 1986.
3. Resolution CRA -86-1 adopted.
4. Adjourn. 4. 5:24 P.M.