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<br />City Attorney saying the 60/40 discussion, but nothing was set in stone. At every point we
<br />were told that we will have a discussion, a debate, and now I am being told that, well, you
<br />had better make it a little clearer. Perhaps we should open it up and have the discussion."
<br />City Manager Everett said, "Because this is going to be part of our negotiations with the
<br />developer, it might be better to have this discussion in a Closed Session, and you can give
<br />your negotiation team, which will be Mike (Church), Francois (Sorba) and others, clear
<br />directions as to what that would look like."
<br />Redevelopment Agency/City Attorney Schricker said, "The fact of the matter is, the
<br />Board has approved a conceptual plan in the context of requesting the exclusive rights to
<br />negotiate and it is to that which Shea and Irvine are responding. There has been no
<br />manipulation or changing of numbers from that which has been before you before. What I
<br />was reflecting on when I mentioned that there is a ratio in there, I'm not recommending
<br />that you change that ratio, because what is in there now, is based on past actions of this
<br />Board. That does not preclude changing the situation through the negotiation process of
<br />the Disposition and Development Agreement. There are a number of factors which will
<br />have to be taken into consideration in that contest, not the least of which is financial or
<br />economical feasibility. You have your own advisor in that regard. Aside from that, design
<br />aspects, and other aspects of traffic, parking, management of the design of the process, the
<br />whole thing, all of these have an interplay, and become part of negotiations. The whole
<br />purpose of this agreement is simply to provide that the Agency and these particular parties
<br />shall negotiate exclusively for a Disposition and Development Agreement for the
<br />development of that land."
<br />Chairperson Howard said it was her understanding that if the Board approved the two
<br />resolutions, the subject could be discussed further in Closed Session to fine tune the
<br />project. City Attorney Schricker answered, "Absolutely."
<br />Chairperson Howard called upon those in the audience who wished to speak to this
<br />Issue.
<br />Jeff Hansen, Shea Homes, Metro Drive, San Jose, said, "Needless to say, the comments I
<br />just received from the Board are heartfelt, and will be taken very seriously as we go
<br />forward with staff to put together a Disposition and Development Agreement. And we can
<br />move forward with what amounts to this evening, in my opinion, as the official kick-off of
<br />this project in terms of making it a reality, which my company, and I can assure you,
<br />Irvine Company and W.L. Butler, have every intention of doing. I only wanted to thank
<br />you for your time and consideration of this over the last several months, and also to thank
<br />your staff, Mr. Everett, Mr. Schricker, and Mr. Church for their efforts to bring these
<br />agreements together this evening."
<br />Val Shevelyov, 1201 Howard, Burlingame, Realtor representing one of the property
<br />owners in the Franklin Street Area Project, said he wanted the Board "to recognize the
<br />REGULAR REDEVELOPMENT AGENCY MEETING MINUTE BOOK NO.1 JANUARY 26, 1998
<br />MINUTES Page No. 459 PAGE 4
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