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T,Q:' . REDEVELOPMENT AGENCY Co fty
FROM: John Sweeten C.adl�
Executive Director
DATE: September 11, 2001 '
SUBJECT: Area 4 Pleasant Hill BART Station Area — Revocable Grant Agreement, Coggins Square
Associates
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE AND AUTHORIZE the Deputy Director — Redevelopment to execute an
amendment to the Revocable Grant Agreement with the Coggins Square Associates, A
California Limited Partnership (Coggins Square Project, Pleasant Hill BART Station Area).
FISCAL IMPACT
None. No General Funds are involved. The Redevelopment Agency's annually budgets revenues
required for the contracted payment.
BACKGROUND/REASONS FOR RECOMMENDATIONS
See attached.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR ECOMME DATION OF GENCY
COMMITTEE -APPROVE OTHER
SIGNATURE(S):
ACTION OF ENCY ON September 11, 2001 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT none ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy— 5-1255
Orig: Redevelopment Agency ATTESTED September 11, 2001
cc: Community Development JOHN EETEN, AGENCY SECRETARY
via: Redevelopment
BRIDGE Housing
County Administrator BY , DEPUTY
County Counsel
Auditor-Controller
WA\PersonaRBoard Orders and 13reenies\BOS.RDA.9.01.Area4PHBART.doc 1
v • .
BACKGROUND/REASONS FOR RECOMMENDATIONS
In 1998 the Redevelopment Agency entered into a Revocable Grant Agreement with Coggins Square
Associates, A California Limited Partnership. The Revocable Grant Agreement was part of the
Redevelopment Agency's financial assistance for the development of the Coggins Square Apartment
project, an affordable project undertaken by BRIDGE Housing Corporation. The Revocable Grant
Agreement provides for an annual payment by the Redevelopment Agency of$100,000 in 28 annual
installments commencing in September, 2000. The Revocable Grant Agreement provides for the
payment to be made on each April 1St thru the term of the 28 payments. For cash flow purposes,
Coggins Square Associates has requested that this date be moved to September 1 st. The change
can be accommodated by approval of the referenced amendment.
WAPersonahBoard Orders and Greenies\BOS.RDA.9.01.Area4PHBART.doc 2