HomeMy WebLinkAboutMINUTES - 03091999 - SD3 B y�
TO: REDEVELOPMENT AGENCY `t
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FROM: Phil Batchelor
Executive Director :....
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DATE: Mercy 9, 1999
SUBJECT: Coggins Square Townhouses
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE AND AUTHORIZE the Deputy Director-Redevelopment to execute a Fifth implementation
Agreement extending time schedule, for the Coggins Square townhouse project, Pleasant Hill BART.
FISCAL IMPACT
None, No General Funds involved. The developer of the Coggins Square townhouses will be required
to post an additional $10,000 deposit, for a total of$35,000 with the Redevelopment Agency to secure
the extension.
BACKGROUND/REASONS FOR RECOMMENDATIONS
In 1996 the Redevelopment Agency entered into a Disposition and Development Agreement with
BRIDGE Housing/Holliday development/The Martin Group for development of a 140 unit
apartment/townhouse development on Area 4 at Pleasant Hill BART. The BRIDGE Housing apartment
component is now under construction, The townhouse component of Holliday/Martin has been delayed
in securing construction financing commitments, therefor a four month delay in schedule has been
requested & recommended. The project is now expected to begin construction on or before July 1
1999,
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CONTINUED ON ATTACHMENT: YES SIGNATURE:
®RECOMMENDATION OF EXECUTIVE DIRECTOR ECOMMEN ATION OF �ENCY
COMMITTEE APPROVE OTHER j
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SIGNATURES):
ACTION OF AGENCY ON -- r<a r c-i 9 , 1999 APPROVED AS RECOMMENDED xx OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
•X, UNANIMOUS (ABSENT #1 ) 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: Jiro Kennedy
3:35-1255 ATTESTED Ma r c h 9. 1 g�c;
PHIL BATCHELOR AGENCY SECRETARY
Orig. Dept: Redevelopment
cc: CACI
County Counsel ��
via Redevelopment B , DEPUTY
BRIDGE Housing
Holliday Development (J
The Martin group
Goldfarb and Lipman JK:smb
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