Laserfiche WebLink
<br /> . . , . <br /> MIS: LEIPZIGIRUSKIN TO TERMINATE THE CURRENT AUTHORIZATION AND <br /> TO PROCEED WITH A NEW OWNERS PARTICIPATION PROCESS WHICH WOULD <br />- CONCURRENTLY INVITE THE OWNERS OF THE DESIGNATED AREA TO MAKE <br /> PROPOSALS, AS WELL AS THOSE WHO ARE NOT OWNERS, AND THAT IT WOULD <br /> INVITE THOSE PROPOSALS FOR THE AREA AS SPECIFICALLY DESIGNATED ON <br /> PAGE 3.A.3 IN OUR PACKET, PLUS IF THE DEVELOPERS CHOSE TO, TO A <br /> BROADER AREA, BUT WE WANT A PROPOSAL THAT WOULD AT LEAST COVER <br /> THE AREA THAT IS DESIGNATED ON PAGE 3.A.3. <br /> Director Leipzig said, "I hope we approve my motion. To the Irvine Apartment <br /> Communities, I am sure their project would be a great project for Redwood City. I <br /> think it is clear that our desire at this point given our stage of growth in Redwood City, <br /> is for a majority ownership units. So I don't think we are sending a message, at least I <br /> am not sending a message that we are against you or your company. The project is a <br /> quality project and you run good projects. We just are not interested in that concept in <br /> this area. So it is not a personal thing. Nothing against the company. Secondly, I <br /> would like to know ITom the City Attorney or City Manager do you want some <br /> direction ITom us tonight on a percentage?" <br /> City Manager Everett said, "If you have some in your head, then share it with us, but <br /> each developer will have to decide what works for him or her." <br /> Chairman Hartnett said, "I don't know what specific percentage between ownership <br />- and rental would be best. It is my impression that it would be best for our community <br /> to have a mix that would have a majority of ownership, but how big a majority I don't <br /> know. We have to recognize that also for our community, high quality rentals is <br /> desirable and to afford the below market rate units that we will be required, we should <br /> have rental, so that whatever proposal comes in, I think it would be unrealistic to <br /> include solely 'for sale.' There is a demand for both, and because of our below market <br /> rate obligations we will in any case have some rentals as well." <br /> Director La Berge directed her comments to lAC, "Because I want you to know that <br /> at least this member of the Council is interested in some rental. And I would certainly <br /> encourage you to partner with someone else and bring a proposal forward to us that <br /> would include both rental and 'for sale' units. You have a good reputation and we <br /> would certainly like to see what you might do with this new development." <br /> Mr. Thompson said, "We will be back." <br /> Director Claire said, "I echo the same sentiments. I was almost going to vote 'no' on <br /> this because I feel a very real need for rental as well as ownership. Good rental <br /> property managed well is good for a city. One only has to look at San Carlos and Palo <br /> Alto, and you know that in downtown corridors, one block off Laurel Street you have <br /> nothing but rental and the same on University Avenue. I do not want anyone in the <br />- <br /> SPECIAL REDEVELOPMENT AGENCY MEETING MINUTE BOOK NO.1 APRIL 21, 1997 <br /> MINUTES Page No. 427 PAGE 11 <br />