1966 247-276 _ 7-25 cont. to 8-22-1966

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�0J Mr. Allen, speaking for both Leslie Salt Company and Leslie Properties, Inc., expressed his faith in the proposed pro- ject and its impact on Redwood Shores development and adja- cent area for an economic status which will be tremendous and which has resulted from an enlightened municipality work- ing together in cooperation with private enterprise. Colemen Johnson, Vice President and General Manager of Leslie Properties, Inc., commented on complexity of negotiations and of agreements necessary to present a Marine World package. He outlined resultant fair market value to Redwood Shores development from such a project, besides reflected impact to all adjacent properties, similar to that of Disneyland project in Southern California. He stated Redwood Shores most fortunate to have a first developer and a partner of this significance, and urged Council's approval of agreements as proposed. City Manager stated firm of Daniel, Mann, Johnson, & Mendenhall, had been selected to act as City's consulting engineers for Redwood Shores, and asked Mr. Mendenhall, President of DMJM, to comment on project. Mr. Mendenhall advised all engineering plans, costs and values had been projected for Marine World in Redwood Shores planning, and stated the investment contemplated fitted quite consistently with assessed valuations made in the feasibility report, as do all other aspects planned in this project. He advised their firm had participated in all negotiations and recommended Council's approval as being in the best interests of City and District. Mr. Mendenhall introduced following members of their firm who had diligently worked on negotiations for this project: Mr. Jim Reiter, Project Engineer Mr. Charles Blair, Vice President of DMJM. City Manager advised total picture of advisors to the City and the District not complete unless firm of Stone & Youngberg, City's financial advisors, presented, and introduced Mr. Herman Zelles. _ Mr. Zelles, of Stone & Youngberg, stated he felt communication read from Mr. Don Davis of their firm clearly stated their approval of this project and emphasized the advantages. City Manager stated inasmuch as Belmont area would be first to feel the impact of Redwood Shores, he would like to introduce Mr. Claude Turner, Superintendent of Belmont Elementary School District, to comment. Mr. Mr. Turner, speaking for Belmont School District, and as a very interested party in the developments proposed in this area, stated they felt project would benefit school district especially, and urged adoption of the plan. Mr. Henry (Bud Bostwick, Executive Director of San Mateo County Dvelopment Association, commented on value of pro- posed project to whole Bay Area, Mr. Bostwick also introduced Mr. Duane McDowell appointed as Director of newly organized County Tourist and Visitors Bureau to work with County Fair. Mr. McDowell commented Marine World would be an important addition to County's present attractions and pledged his cooperation. Ed Carlisle, President of Redwood City Chamber of Commerce, extended welcome to Marine World and offered their cooperation. City Manager presented his recommendation to Council, emphasizing the interdependency of agreements proposed to be executed simultaneously and directly related to the — Marine World project. He advised the extensive negotiations which have been held subsequent to the prior consideration of this project have produced the following special points favoring the position of the district: 1. Provides that ABC award contracts for at least $2,840,000.00 by April 1, 1967. 2. Provides more control on ABC expenditures with interim check point dates.