Laserfiche WebLink
Redevelopm nt Commission Regular Meeting <br />September �5, 1978 <br />7. PROGRESS REPORTS (Cont'd) <br />Ms. De beck: Do you think you will make the Aprii deadline? <br />Mr. Ellison: We think we will be able to meet all the commitments <br />made o the public side of that project.. <br />Mr. La ry Ford: What does that mean? <br />Mr. Ellison: In order to entice HUD to make the grant to the City, <br />HUD waited some assurance that there was in fact a fish on the hook, <br />so to peak. A group of investors stepped forward, and between the <br />invest rs and the City, an agreement was entered into. That agree- <br />ment r quires the City to do certain actions within a specific time <br />frame. We expect to be able to meet all the conditions of that <br />agree nt. In other words, we don't believe the project is in <br />jeopar y in any way. Mr. Brownell, do you feel this is a fair statement? <br />Mr. Br wnell: I think it is fair. I met with some of the investors <br />yesterday at noon, I wouldn't think it would be possible if we did run <br />into a timetable squeeze. <br />Mr. Wiggins: I feel this is all speculation. Are there any other <br />questions? <br />Ms. De beck: With all these things happening on the "hole" so far <br />the Commission on the record, is not involved. Do you think it is <br />likely that this Commission will become involved? <br />Mr. Ellison: Yes, certainly. The Commission is a principal as named <br />in the grant agreement between the City and HUD. The Commission, because <br />it owns the land, obviously has to be involved in the disposition of that <br />land, and normal Commission procedures that would apply in that instant. <br />Initially, the Commission obviously has some control over what gets built <br />on the land, etc. The Commission is in fact, very intimately involved, <br />and the fact that it is noted as a principal in the grant agreement, seems <br />to leave no questions about it. <br />Ms. De beck: Then there will come a day when you will come here with <br />the drawings and accept them? <br />Mr. Wi gins: Yes, all the beautiful pictures, etc. <br />Ms. De beck: Then you can do something more than decide. <br />Mr. Wiggins: I hope so. <br />-7- <br />