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Councilman Greenalch thanked Mr. Hitchcock for his research and his reasonable and refreshing approach, and advised that the Council will be making policy decisions regarding redevelopment after the new Councilmembers are seated. Joe Steinfeld, candidate for Council, responded to Councilman Greenalch's report stating the figure he identified as waste was $14,000,000 not $18,000,000. He stated that the City had built extravagant and unnecessary constructions; and he had not opposed a new police facility but opposed the police "palace" the City had built with at least $5,000,000 of extra constructions built on the most expensive property the City owned. Mr. Steinfeld denied he had ever stated redevelopment funds should be spent for hiring new police officers, but reiterated his charge that bond indebtedness had grown from $18,000,000 to $44,000,000 and the citizens of Redwood City will have to pay it. He added that the parking garage, entry features and Hamilton Street improvements, all funded by Redevelopment Agency bond proceeds, are unnecessary structures or improvements. Mr. Steinfeld stated that the so called success of Sequoia Station was only a transfer of purchasing from other Redwood City stores to Sequoia Station; and, the amount of the taxpayer subsidy will never be fully known, but it has been estimated that the taxpayers have contributed $6-10 million. Mr. Steinfeld asked if redevelopment creates blight rather than remedies it. Mr. Steinfeld asked for an accounting of City and Redevelopment expenditures for Sequoia Station and offered a list of 14 items to be addressed. He asked if the increase in property values would indeed ever justify those costs. Mr. Steinfeld stated that the Redevelopment Agency was planning to subsidize - - - some of the most lucrative enterprises in the whole city - auto dealerships - and the Agency should stop playing Robin Hood in reverse with taxpayer's money. ---------------------------------------------------------------------------------------------------------------------- 7. STAFF REPORTS None. ---------------------------------------------------------------------------------------------------------------------- 8. BOARDS, COMMISSION AND COMMITTEE REPORTS No reports. ---------------------------------------------------------------------------------------------------------------------- 9. CLOSED SESSION None. ---------------------------------------------------------------------------------------------------------------------- MINUTE BOOK NO. 52 Page No. 388 Regular Meeting Minutes September 12, 1994 Page 10