11-16-2004 CC MINUTES - Laserfiche WebLink

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CITY COUNCIL AND REDEVELOPMENT AGENCY MIINUTES TUESDAY, NOVEMBER 16, 2004, 2 p.m. ART PICK COUNCIL CHAMBER, CITY HALL, 3900 MAIN STREET CITY CLERK'S ,OFFICE - 951-826-5557 WARDS Roll Call: REDEVELOPMENT AGENCY ORAL COMMUNICATIONS FROM THE AUDIENCE There were no comments presented at this time. CONSENT CALENDAR The following items were approved by one motion affirming the actions appropriate to the items with Agency Members Hart and Schiavone disclosing they own stock in Premier Service Bank and will vote and Agency Member Moore abstaining on the Subordination Agreement with Premier Service Bank. MINUTES The Minutes of the Meeting of November 2, 2004, were approved as presented. AMEND LOAN GUARANTEE - MARIO'S PLACE RESTAURANT The Agency refinanced two loans at $126,698 and $71,076, guaranteed by the Agency, between Mario's Place Restaurant and Inland Empire National Bank at 4.25 percent fully amortized over three years. SUBORDINATION AGREEMENT - RELOCATION OF TAMALE FACTORY The Agency approved the Subordination Agreement with Premier Service Bank to subordinate the Agency's position on the $342,000 forgivable loan to Chades and Naomi Avila for the relocation of the Tamale Factory. DISCUSSION CALENDAR EXCLUSIVE RIGHT TO NEGOTIATE CALIFORNIA SQUARE CALIFORNIA AND MONROE Following discussion, the Agency authorized (1) the Executive Director or his designee to execute the Exclusive Right to Negotiate (ERN) with Maxi Foods, LLC, for the proposed revitalization of California Square located on the southeasterly corner of California Avenue and Monroe Street; and (2) staff to receive expense reimbursement funds into Revenue Account 9776400- 374200 from Maxi Foods, LLC, and appropriate the funds to Maxi Foods ERN Account 9776400-440440 to pay for Agency costs associated with negotiations under the ERN. Present Motion Second All Ayes Abstain Motion Second All Ayes COUNCI~AGENCY MEMBERS 90-206