10/02/1986•
Community Redevelopment Agency Meeting
October 2, 1986
•
The City Commission of the City of Clearwater met as the Community
Redevelopment Agency at City Hall, Thursday, October 2, 1986. The meeting
was convened at 6:14 p.m. with the following members present:
Kathleen Kelly
Lee Regulski
James L. Berfield
Rita Garvey
Don Winner
Also present were:
Elizabeth Haeseker
Paula Harvey
Shirley Corum
Mayor -Commissioner
Vice-Mayor/Commissioner
Commissioner
Commissioner
Commissioner
Assistant City Manager
Planning Director
Assistant City Clerk
ITEM #2 - Minutes of September 18, 1986 meeting.
Commissioner Garvey moved to approve the minutes of the September 18, 1986
meeting as submitted. Motion was duly seconded and carried unanimously.
Item #3 - Purchase of CETA Building.
Pinellas County owns the above mentioned real estate consisting of 52,750
square feet of level land zoned Urban Center (Eastern Corridor) with 250 feet
of frontage on the north side of Cleveland St. It is improved with a 6,500
square foot, two floor, concrete building constructed in 1943, in moderately
good condition, and a 16,750 square foot asphalt parking lot. The County has
offered this property for sale at a minimum bid of $450,000. A 1982 MAI
appraisal indicated the then market value of the property was $455,000.
The redevelopment of this property is included in the present Redevelop-
ment Plan as a long range objective. Because of the present availability and
favorable price, it is recommended that the agency acquire this property now
in order to provide an enhanced redevelopment opportunity in the Eastern
Corridor area.
It is proposed that the agency issue bonds in an amount sufficient to fund
the purchase price with the intent that these bonds be privately placed with
a local financial institution and be repaid over a period not to exceed 15 years
(preferably 10 years).
It is also recommended that in conjunction with this financing, staff
pursue refinancing of the obligation to the Bilgore Liquidating Trust, thus
enabling the resultant savings to be applied to the financing of this purchase
price.
Approval will require an amendment of the 1986-87 CRA Budget which will
be processed as a first quarter amendment.
CRA
55. 10/02/86
•
Jim Carpenter, Executive Director
stated the Board voted to approve City
September 29, 1986 meeting. The Board
policy of land banking property in the
third purchase in the future.
•
of the Downtown Development Board, state
purchase of this building at their
agrees in principle with the City's
downtown area and would hope to see a
Joe McFate, Planning and Urban Development Director, stated the funds are
available for this purchase and the acquisition is appropriate for downtown
redevelopment.
Discussion ensued regarding the impact on the CRA budget and whether the
City should be in competition with private developers.
Commissioner Regulski moved to approve the purchase of the CETA Building
at a cost of $450,000. Motion was duly seconded. Upon the vote being taken,
Commissioners Regulski, Garvey and the Mayor voted "aye". Commissioners
Berfield and Winner voted "nay". Motion carried.
The meeting adjourned at 6:26 p.m.
r/Commissioner
CRA 56. 10/02/86
•
CO HITT REDEV JOPM ENT AGENCY AGENDA
1. Call to Order.
2. Approval of Minutes of
September 18, 1986.
3. Purchase of CETA Building. 3. Approved.
4. Adjourn. 4. 6:26 p.m.
October 2, 1986
ACTION
1. 6:14 p.m.
2. Approved as submitted.
CRA
54. 10/02/86