CC MINUTES 08011988 - Laserfiche WebLink

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I CT -r= O F S T_ AN TH C>NY C= TY C O UN C= L S PEC = AL MEET = N G M= N U T E S AU G U S T 1, 1 9 8 8 1 The meeting was called to order by Mayor Sundland at 7:00 P.M. 2 Present: Sundland, Marks, Ranallo, Makowske, Enrooth. 3 Also present: David Childs, City Manager 4 Joe DiSanto, Executive Vice President, Victoria 5 Management Corp., New York 6 Rod Johnson, David Bergstrom, and Betty Ewens of 7 Eberhardt Company 8 Mr. DiSanto stated that he represented the owners of the St. Anthony 9 Shopping Center and was present to discuss the future of the center with 10 the City Council. 11 Ranallo stated that he had to leave early, but was pleased that Mr. 12 DiSanto came to the Council and he felt that it was important that the 13 shopping center get turned around. 14 Mr. DiSanto stated that: 15 *he had become involved with the center in August of 1987; 16 *former managers were not asset managers (he is a certified property 17 manager); 18 *communication between owners representatives and the City was very 19 poor previously and he sensed a need for improvement of this 20 communication and was taking steps to do so; 21 *the owners have spent $117,000 to upgrade the center in the last 12 22 months - all from the cash flow of the center. 23 He stated that his marching orders from the owners were: 24 *commit his time and attention to the center; 25 *commit all the cash flow back into center repairs. Because of the 26 low current rental rates, therefore, repairs will be made on a timed 27 basis; 28 *to try to obtain financing to upgrade the center.