1966 191-219 6-8 to 6-20-1966 - Laserfiche WebLink

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207 There was further discussion on the benefits of having Marine World locate here, and it was pointed out that these benefits far outweighed any problems and justified the District to go ahead with the contracts for the dredging, etc. There was dis- cussion about the increase in assessed valuation of the property due to the improve- ment, and it was stated that ABC proposed to invest approximately $3,000,000 by May of 1968, not including the value of the personal property in the project itself. The City Manager assured the Council that if the project did not go ahead as scheduled, the District will pick up the $200,000 guarantee deposit. James Reiter, representing DMJM, stated that this will chiefly involve doing a portion of the dredging sooner than had been planned. Councilman Rosselli asked for an estimate of the potential income and impact on the community as a whole of the project. City Manager stated that the Stanford Research Institute Feasibility Study indicates the project will attract 1-1 million people in the first year. In response to Councilman Keekley's question as to whether the City Manager requested Council action at this meeting the City Manager responded that he recommends to the Council that we proceed on the basis outlined. Eventually, he stated, resolutions approving the agreement will be brought to the City Council. Councilman Keckley moved that the City Council ratify the action of the City Manager and approve the negotiations with ABC, with assurance that the Council is in complete agreement with his actions to date, seconded by Councilman Rosselli. There was fur - then discussion as to the particulars of the property acquisition from the Scavenger Company and the relocation of the roadway which goes to the dumping area. The Mayor questioned the time schedule in relation to use of the property by the Scavengers, and was informed by Mr. Reiter there has been no dealine set up to this time. Councilman Bury stated that the City Manager should have the Council's indication of approval, and that we should proceed without delay. The City Manager, in response to Council's question, stated that the only City money involved is the $25,000 for an access road, which was approved by the City Council in the Budget being studied. Mr. Reiter told the Council that he has been in almost all of the lengthy and arduous negotiations to make Marine World a reality in Redwood City and he wanted the Council to know what a tremendous job the City Manager did in bringing about the closing of a deal which has been in the mill for almost five years. He stated DMJM organiza- tion is thoroughly in accord with the City Manager's recommendations. Motion carried unanimously on roll call vote. (MINUTE ORDER #66-134) The Budget Study was resumed, Councilman Henderson stating that she wished to discuss the Schaberg Branch Library and the Middlefield -Woodside overpass. The net reductions in the Budget to date were reviewed. It was pointed out they will result in approximately a .057 decrease in the proposed tax rate. Councilman Keckley pointed out that the $4,000 appropriated for the Police Information Network was still to be deducted from the operating budget and would result in a further