RDA Loan for Old B of A Building

By: Libi Uremovic | Original Article at patch.com

Documentation shows the Redevelopment Agency bought the old Bank of America Building located at 1450 North Beaumont Avenue for $160,000; then sold the property to the City for $1.00.

Again; there is no RDA Bond. This money also must have come from Mello Roos funds.

No. Definitely can NOT use Mello Roos Bond Funds to finance the private sector.

RDA RESOLUTION NO. 1998-01

A RESOLUTION OF THE BEAUMONT REDEVELOPMENT AGENCY

AUTHORIZING THE PURCHASE OF REAL PROPERTY AND ITS RESALE TO THE CITY OF BEAUMONT

The Beaumont Redevelopment Agency hereby resolves to purchase certain improved real property located at 1450 North Beaumont Avenue, Beaumont, California for a sum not to exceed $160,000 and to take such steps as are reasonably necessary to acquire the property.

The Beaumont Redevelopment Agency further resolves, upon completion of the purchase of the above-described real property, to convey fee title to the City of Beaumont for the sum of $1.00, and to take such steps as are reasonably necessary to complete such conveyance.

Dated: March 10, 1998

SIGNED BY: JAN LEJA, Chairperson

ATTEST: SHELBY HANVEY, Deputy Secretary

Relevant Issues

A Clear Conflict of Interest
The City of Beaumont's contract with Urban Logic presents a significant conflict of interest and therefore must be terminated.
Favoritism and Cronyism
The City of Beaumont, under Urban Logic and City Manager Alan Kapanicas, has consistently demonstrated favoritism and cronyism in the awarding of pubic contracts.
Cost to Taxpayers
Urban Logic's contract with The City of Beaumont which allows it to profit from each approved development, along with their on-going practice of awarding high-dollar public contracts to a small group of friends and associates instead of to the lowest bidder, have cost Beaumont taxpayers millions.
Impact on Existing Businesses
The policies of Urban Logic and City Manager Alan Kapanicas ignore the needs of existing businesses in favor of new development and big box stores.
Quality of Life
Urban Logic and City Manager Alan Kapanicas have damaged our quality of life by failing to uphold high development standards, depleting local resources, making local government less accessible to residents, and by destroying the small town feel of the City of Beaumont.
Tactics
Urban Logic protects its ability to extract money from the City of Beaumont at all costs, resorting to intimidation and threats when necessary.