RM 08-04-78 - Laserfiche WebLink

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COMMISSIONER'S REGULAR MEETING Friday, August 4, 1978 7. PROGRESS REPORTS (Continued) (Mr. Brownell showed the Commission the entire contract consisting of maps, etc. as he had stated). Mr. Wiggins made a motion to approve the agreement, and authorize the execution concerning the closeout agreement of Ind. R -66, and that the President and Secretary be authorized to sign the agreement, seconded by Mr. Cira, and it was carried. Mr. imtz: Mr. Brownell, that is quite an accomplishment to have that pro completed. Mr. rownell: Yes, I should report further, that on August 18, 1978, HUD will pay off the two million one hundred and nine five thousand dollars ($2,195,000.00), in project notes still owing in the bank in New York, plus the interest. When I accepted this job, it was ten million ($10,150,000.00) in n tes(with the interest it was ten million, three hundred eighty one thousand dollars ($10,381,000.00), and it was due in June of 1975. It was very shocking for me to learn this, because we had no method available to pay cff the notes, except to sell the land, and the land was not selling. So, am glad to have this project finished, as the notes are now all paid off, and also the relocation claims have been paid (the Telephone Company, and &M Electric). I believe that R -66 (fiscally) will close out very smoo hly. Mrs. Dorothy Deane talked to Ms. Peggy Hudgens-, at HUD this morn ng about the close out figures and Ms. Hudgens thought that the figures were all correct, and advised us to send the papers to them (HUD). So, we eady this afternoon to prepare a letter of enclosure and mail this are cont act, along with the exhibits and the financial figures to HUD. Mr. Brownell: In our Committee yesterday of the South Advisory Board we didn't have a quorum. We usually go over the contracts, and all the things involved in the meeting, before they are presented to the Commission at our next meeting on August 18, 1978. Before our next scheduled meeting (Redevelop meat Commission meeting), Mr. Harcus plans to have another meeting of the South Advisory Board and try to have a quorum and pass on it. Some of the contracts which were bid and will eventually come before the Redevelopment Commission, were bid without the going wage rates under the Davis-Bacon Act, and rather than go back and rebid all of them, we would like to receive some instructions from the Commission if it is possible, to have you approve those contracts and perm t the work to carry on, rather than have to undo it and rebid the contracts. The ommittee and members who were present at the South Advisory Board Meeting aske me to present this problem to the Commission. Mr. imtz: Would this delay everything by about six weeks? Mr. rownell: It would be a delay of this good weather to get the work done. So, actually, we felt very sincerely that we would like to ask your indulgence to gp along with these contracts if you would.