Reading Redevelopment Authority Minutes 11/24/10

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MINUTES FROM A SPECIAL MEETING OF THE READING REDEVELOPMENT

AUTHORITY OF THE CITY OF READING HELD ON 24TH NOVEMBER 2010

 

The Redevelopment Authority of the City of Reading held a Special meeting in the Redeve1opment Authority Conference room of City Hall , 815 Washington Street, Reading, Berks County, PennsyIvania, on 24th November 2010.

 

The following members were present via conference call :

 

Ms. Michele Lauter     Chairwoman

Mr . PhiIip CoIes       Vice Chairman

Mr . Dan Luckey           Member

Mr . Theo. Auman        Member

 

Absent : Mr. Geo. Viener ,

 

 

Adam Mukerji, Executive Director , Dennis Witwer , Executive Assistant, Keith Mooney , Esq. , of Barley Snyder were also present.

 

Noting that three members were in attendance for a quorum at 11 :07 a. m., the Chairwoman called the meeting to order .

 

 

Mr. Mukerji expIained to the board that he was seeking a motion from the board to enter into a Short term bridge Ioan to OCR in the amount of $300,000.00 at a 2% return on the Ioan. The Ioan wouId be guaranteed personally by Mr. Albert Boscov.

 

He produced a letter written by Mr. Boscov dated 9th November. The letter stated that the loan would be used for the Goggleworks Apartments. There are A&B Bonds that are waiting to kick in.

 

The board had a brief discussion. Ms. Lauter stated that this was a very good idea and asked for a motion to allow Mr . Mukerji to enter into an agreement to Ioan $300, 000. to OCR. Mr. Luckey made a motion which was seconded by Mr. Coles. All members were in favor.

 

There being no further business to be brought before the board, Mr. Luckey made a motion to adjourn the meeting all members were in favor .

 

The next reguIar monthIy meeting of the Reading RedeveIopment Authority will be heId in January 2011 at 5: 30 p. m. in the Redevelopment Authority Conference Room 2-53, 815 Washington St. , Reading, PA.

 

Respectfully submitted by :

 

Executive Assistant