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<br /> for purchase of water direct from San Francisco and payment of a trans-
<br /> portation charge to Belmont Water District, but advised that the only
<br /> formal agreement existing is the one due to expire next year. The
<br /> subject of improved access to Redwood Shores was also discussed, and
<br /> Mr. Pusich commented on the agreements presently in process, which were
<br /> authorized by Council with regard to the Holly Street overcrossing
<br /> �,.�.,, project, and the sequence of events that would follow, i.e. , advertise-
<br /> ment for bids by the State, payment of deposit by the City, award of
<br /> � contract, and then construction of the project, which he estimated
<br /> would run into next fall and winter.
<br /> Mr. Fales emphasized the necessity for a decision to be made this
<br /> evening, and described the various things that must be considered be-
<br /> fore any bond issue is approved, the great burden of commitment in view
<br /> of uncertainties of weather, time required for award of contracts,
<br /> escalation of construction costs, as well as the personal and pro-
<br /> fessional responsibilities to be borne by staff and Council.
<br /> Don Warren, representing Mobil Oil Estates, in response to questions
<br /> by the Directors, confirmed that their commitment is as stated in
<br /> their letter - to spend Mobil funds on a schedule concurrent with the
<br /> schedule of the Bo ar d . Chairnnan Barrett nated the presence in the
<br /> audience of representatives of Mobil Corporation, New York City.
<br /> Mr. Fales indicated that, assuming the decision is made by the Directors
<br /> at this meeting to proceed with the bond issue, then the next Council
<br /> Agenda will have on it the most important actions to be .taken by
<br /> Council on the bond issue, and would include among others approval of
<br /> the Official Statement which was provided to Council in advance to
<br /> allow sufficient time for review and to allow for suggestions to be
<br /> made through the Finance Director to Bartle Wells Associates:
<br /> �
<br /> Tom Vance, 425 Palomar Drive (unincorporated area) , inquired regarding
<br /> �rr�r the agreement for the present water supply to Redwood Shores, to which
<br /> Mr. Fales responded.
<br /> John Murphy, 421 Luff Lane, referred to his letter of January 27, 1979
<br /> (received in the office of the City Clerk on January 29 and distributed
<br /> to the Board prior to the meeting) regarding the GID 1-64 Commitment
<br /> Letter and Proposed Agreements 1/29/79 Meeting. He said it is his
<br /> feeling that prior voted authorization for issuance aad sale of the
<br /> GID No. 1-64 bonds has been voided due to substantive changes that
<br /> have occurred. He also suggested that the Redwood Shores Improve-
<br /> ment District should be restructured into the Redwood Peninsula
<br /> Improvement District and a Bair Island Improvement District.
<br /> Robert Slusser, 541 Cringle, indicated he had looked over the material
<br /> in the reports and congratulated staff and Mobil and expressed support
<br /> for the bond issue, noting the risk that staff, B oard and Mobil are
<br /> willing to take. He was advised in response to questions that possibly
<br /> 800 feet out of 26,000 feet of the water line to be built is outside
<br /> the District, but is by the most feasible and direct route; also that
<br /> if, through no fault of the developer no improvements are placed, tfie
<br /> existing improvements have a potential of nearly doubling the taxes.
<br /> � Michael Demetrios, 237 Polhemus, Atherton, representing Marine World,
<br /> spoke in support of the bond issue, stating that the more development
<br /> there is in Redwood Shores the more viable it becomes as a community,
<br /> � the more taxes that will be generated, and the more favorable their
<br /> position; that they are presently the second largest taxpayers in the
<br /> District.
<br /> GID 1-64
<br /> Bd./Dir.
<br /> 1/29/79 .
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