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IT IS

[00:00:01]

8 35.

[Garland Foundation for Development on November 16, 2021.]

AND SO WE WILL CALL TO ORDER THIS MEETING OF THE GARLAND FOUNDATION FOR DEVELOPMENT.

UM, AND ALL DIRECTORS ARE PRESENT, UH, THE FIRST ITEM, UH, AND, UH, WE WILL, UH, WE WILL NEED TO VOTE BY HAND SHOW OF HANDS, UH, SINCE IT'S NOT LOADED INTO THE MACHINE HERE.

UH, THE FIRST ITEM ON OUR AGENDA IS APPROVAL OF THE MINUTES OF THE AUGUST 16TH, 2021 MEETING.

THAT'S THE MOST UNANIMOUS MOTION I'M GOING TO SAY.

WE HAVE A MOTION TO APPROVE BY DIRECTOR HEDRICK AND A SECOND BY DIRECTOR VIERRA TO APPROVE ALL IN FAVOR SHOW OF HANDS AND THE RECORD SHOW THAT IS UNANIMOUS, UH, ITEM TO APPROVING THE PURCHASE OF THREE ACRE PROPERTY NEAR THE INTERSECTION.

WAIT A MINUTE, HANG ON.

I'M READING THE WRONG PAGE.

OKAY.

SORRY.

UH, THAT IS THE, THAT LAST ITEM SHOULD HAVE BEEN THE APPROVAL OF THE OCTOBER 18TH, 2021 MEETINGS.

SORRY.

I WAS READING THE MINUTES FROM THE PAST MEETING.

UH, SO MAKE SURE EVERYBODY UNDERSTANDS, UH, THAT, UH, ITEM TWO IS CONSIDERED THE PURCHASE OF A 1.68 ACRE PROPERTY NEAR THE INTERSECTION OF MARION DRIVE AND RESIST ALL ROAD FOR FUTURE REDEVELOPMENT PURPOSES AND AUTHORIZE THE EXECUTIVE DIRECTOR TO EXECUTE SUCH DOCUMENTS NECESSARY TO COMPLETE THE TRANSACTION.

THERE'S A LOT OF WORDS, UH, DIRECTORS, WE'RE BRINGING TO YOU TO NOT A MULTI-FAMILY REDEVELOPMENT PROPOSAL FOR THE, UH, LOS BARISTAS RESIDENTIAL CLUB PROPERTY LOCATED IN THE, UH, 1002 TO 11, 10 MARION DRIVE, UM, AREA.

THIS IS IN THE CREST RIDGE PART GROVES WILLIAMS ESTATES NEIGHBORHOOD ARE 2021 WHERE THE HEART IS NEIGHBORHOOD.

UM, IT'S A 65 YEAR OLD STRUCTURE, ORIGINALLY A HOSPITAL NOW CONVERTED TO CONDOS.

UH, IT OFFERS A LOT OF OPPORTUNITY FOR REDEVELOPMENT.

THERE'S A, UH, LARGELY UNDER UTILIZED PARKING LOT.

IT IS THE SOURCE OF A LOT OF NEIGHBORHOOD FEEDBACK, UM, DUE TO MAINTENANCE CONCERNS.

AND, UH, IT IS ALSO LOCATED IN THE PARKS MASTER PLAN, UH, HEAT MAP AS, UH, NEEDING MORE OPEN SPACE, GREEN SPACE DETAILS OF THE, UH, PROPOSED TRANSACTION ASKING PRICE FOR THE PROPERTY IS 1.375 MILLION.

UM, YOU CAN SEE THE DETAILS HERE OF, OF HOW THAT TRANSACTION, UH, EVOLVED, BUT THE BOTTOM LINE WAS THE CITY'S OFFER WAS 1.275 MILLION, UH, SPLITTING THE 3% BROKERS COMMISSION.

THIS INCLUDES A 60 DAY FEASIBILITY STUDY PERIOD TO DO ENVIRONMENTALS.

UH, WE'RE ALLOWING THE SELLER TO REMOVE FIXTURES AND WE ARE GIVING THE SELLER UNTIL JANUARY 20TH TO RELOCATE TENANTS.

THIS WOULD BE FOLLOWED IMMEDIATELY, UH, SHORTLY THEREAFTER WITH A DEMOLITION.

AND THEN THE OFFICE OF NEIGHBORHOOD VITALITY WOULD, UH, WORK WITH THE NEIGHBORHOOD TO FACILITATE DISCUSSIONS ABOUT PROPOSED FUTURE USE OF THE PROPERTY.

AND WITH THAT, I WILL TURN IT BACK TO THE BOARD DIRECTOR SMITH.

UH, THANK YOU, MS. KING ON THE, UH, ADDITIONAL TIME FOR THE TENANTS.

UH, IF THERE'S NO OBJECTION, I'M PREPARED TO MAKE A MOTION, SIR, PLEASE DO A MOVE TO APPROVE THE PURCHASE AS PRESENTED IN ITEM TWO, I HAVE A MOTION BY DIRECTOR SMITH, UH, TO APPROVE IN A SECOND BY DIRECTOR OVEN, WITHOUT ANY FURTHER DISCUSSION, PLEASE VOTE BY SHOW HANDS, LET THE RECORD REFLECT THAT IS UNANIMOUS.

AND THAT BEING THE LAST ITEM BEFORE US AT EIGHT 40, WE ARE ADJOURNED.

THANK YOU.