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AUGUST 6. 1990
HATER DEPARTMENT PROPERTY - 2ND AND "D" STREETS
Svnopsls of Previous CommIssIon/Council/commIttee ActlQn:
6/25/90 In closed sessIon the CommIssIon approved Issuance of an RFP.
7/31/90 commIttee recommended commIssion approval of Coussoulls
Development Company's proposal and the executIon of an
ExclusIve RIght to NegotIate (ERN).
Recommended Motion:
(COMMUNITY DEVELOPMENT COMMISSION)
That the proposal dated July 27, 1990 receIved frOM Cous sou I Is
Development COMpany for the development of the property located at the
Southeast corner of 2nd and "D" Street be accepted and that the ExecutIve
DIrector be authorIzed to execute an ExcluSIve Right to NegotIate
agreement.
Respectfully Submitted.
9 xecutlve Director
SupportIng data attached: YES
Ward:
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FUNDING REQUIREMENTS:
UNKNOWN
Project: CENTRAL CITY
CommIssIon
Note s :
Agenda of: 8/6/90
Item No.
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STAFF REPORT
ThIs Is a request for the ~'ss'on to accept & proposal from Coussoulls
Development Company 'n response to aft RFP for develOplllnt of the Water
Department property at tile southeast corner of 2nd and "0" Streets and to
authorIze the Execut've D'rector to .xecute an Exclusive Right to NegotIate
(ERN) .
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Backaround:
As a result of negotlat'on~ between the Mayors offIce, ROA staff and Caltrans
the 5.24 acre Water DepartMent s,te was d.t....in.d to b. acceptable for
Caltrans to move from their e.'st'nt facll'tyon 3rd.Street. As an
alternatIve Caltrans was cons'der'ng,lIIOv'ng to Riverside. A move out of the
CIty would lose several hundred existing and future job's.
Caltrans now has approxlMat.ly 500 employees locat.d In downtown San
Bernard'no and another 500 employees scattered 'n location's from San
BernardIno to RiversIde. This new fac'l,ty would consolidate a majorIty of
these poslt'ons 'nonelocat'on. Caltrans ant,c'pates doublIng the work force
In the next f'veto ten (5 ,to 10) years.' There Is also a possIbIlIty that
other state funct'ons may move to th'sfac'l,ty.
The Agency maIled Request for Proposals (copy attached) to twenty seven (27)
potentIal developers on June 25, 1990. Only one written response was receIved
from Coussoulls Development Company on July 27, 1990.
Coussoul's Develooment Comoanv ProDosal
The Coussoul's proposal requests an ERN for 120 days w,th a rIght to extend
for 60 days. During the ERN per'OO staff would negot'ate a DIspositIon and
Development Agreement.
Summary of Proposal:
Improvements:
10 to 12 story offIce buIlding (200,000 + square feet)
2 to 3 level park'ng structure
MultI-use perform'ng arts center
Cost:
EstImated at $20,000,000
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Agency Assistance:
Unknown. To be negot'ated
Benef,ts to CIty/Agency:
Tax 'ncrement - $250,000 to $300,000 yearly.
Jobs - Reta'n approximately five hundred jobs and possIbly increase
several hundred more In the next f've to ten years.
Removal of the present undes'rable use and 'mprovement of the downtown
busIness dIstrIct.
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Recommended Action:
That the CoINlaston approve the proposal and authorize the E~ecutlve Director
to e~'cute the attached ERN. The ERN has been reviewed by Agency Counsel and
has been e~ecut.d by the Developer.
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SoutIltast COI'IIfl' of 2nd Stre.t and -0- Strltt, SIn Itrnardtno, Caltfornta.
J"utS~
tilt RtcltYtl~nt ~1. .......ts .~l' to...,t... andlllP., tilt $..4
~:E~sr~;:lIi~.I~tflf~.:.i~'!'f~~~2 t:n:1IO
135-271-17.
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Suba.ct 'I'ClPtrty ts locah41tft,tItt Mta~.,c:entral CttyRtdev.lop1ltnt
'....a.d Ar,a _t.. ..I........ '........ .,y. 'I"... t. .....,. 'I1It 1__... destlnatton
"'t t. _..al Plallls '. ',. . .... 'alOl'ftct 'Cl-U .'eIl,....,ts'
"tntstrattOft Ud Jrof...,_t orftc.s and relat.d ~rctal factlttles
""tell support offtc. u..s~
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The Agency ts "tktttt p'OIIOIal, ""Id",m -'01'1I to the dest....t.d land UII
and wm .xtlatlt * VII of tilt prOperty and wm "ntrate tIlt.llt_ tax
llicrHtllt, to the Atency.
fm1.~t Pl'CIIIDSal
CcIIpI.t. respons.s to tltls .RFP _st .. s.I_.to be conslder.d. The
proposal ..st .. sllfled by an autllorll.d rtprts.lltattv. and stat. the period
of tt. th.proposaf .....tns valtd.
Each propontnt ..st sublllt t.n no) cQpt.s of the proposal organlz.d In the
following sequ.nc. which shall Incluett but nttd not be Italt.d to:
1. Project approach, obj.ctlOfts and .thodology.
2. A d.scrlptlon of the propos.d IlIProv..nts.
3. 'An .stl..t. of the land and building cost.
4. A description of any Agency asslstanc./partlclpatlon r.qutst.d.
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Proposals .hall be .ntd or deHvtrld to t... followtng ldcIrtss.
......_IICY
300 .... ...,. Stn.t
.,n_
Ctbltan
san....r.... CA '2418.
. Att.nttOlt: IoIIltrt.1. Tlllpl.
All proposals ..st be ree.h.d ., 4:00 p... on ~
TIlt Attacy r.st".s tilt rt"'~. fpr:.".......to.acce!rt or rt~t.ct lilY or .11
=;I~; :rtntlt:::..: '.~;I~!II:~:~..,t:"~r:m:i.~
rtSpoIlSf. 'n.tty or Hu11tt" L,.:. '. '. ....'........ ....,," t!lfpNIttonStt..fOrth tn
....,. rtllOrts. or ot"'rdoc. . ., '."" t,,...,t" for tilt 'IC.ClMtt's use
t"Clev"opt" tts p.....1... .........n UlIlmty In the UII of
s~ tnfOl'llJtton tn dtVJJopS.,. '.,..,,"J..TIlt -., a..... no .
rtlpoAstbmtyor HlIltHty fOI'i,..","urr.,bY tit ,rapontnt tn the
,rtparltton of I proposal lIId r'.1t to thts .F'.
All.t.rt.ls and tnf~tton ...~I.~Jtton wtth thts .FP ar. for
::-&t;:::::~~ ::'~t:.ht ,=;:f....'..nff~:: ::t.:-~:r::. A~~j.ct
GovI....nt Codt S.cttons 62SO .~ ttel. .
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PROPCl~~,..~..t".CY
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If.t.~.~.'fol
PaC'lPBM'f ~~'l O\NOI~<Io~.'l' ~_ OF
2.'JlI!~"'_ "1>" .!O..~,j;'
8AR .~, t!1T.TI'ORlttA
r JULY 27, 19'0
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ID awlPCl'II" 110 ......1It:
~'. . ~~t A"noy of tM
benIatt:M' J:laf~ to ..
~1~~ lot (UI~ -", .
1)lWel..-. .... ... . .'. ... .'.
unhnw.l...r~:" .'';.
and "Dill ftnat:8.. C....
generalt:azoM, It ill
wit:b:
f. ~4o.al. ~ !Jy 1:U
Ci.,.. .,.. . l~!"'"
'.~ . ~,. O",lJnoQ1i11
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1/(11..... ..t. '.].'1. "_.. ..' .__.M't1Y
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t:U al_ .. ~oped
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all . ...... '''''''I.~-... all ~pe
t..pt..4-.. m ntb, .
. _1t:1...... )lU'Jc1Dg faollit:y, and
. mfn... .,az1:ataCl11t:y, U ~r
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A8r.~.~.~7:'-&11:r".t :&a4meYn:=r t~t:b:
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ZI. Pl1C\1IC'I AllIROACB, oB1BC'1'IVBS, AlID _-favDOLOGY.
\'be .Deve1oper~o-r.~to."'" tM ab'ect: .o~. all
~UY 8..loUau f. ........~~lt:1on., Nt:b tM
"""". .h4.. ..,f.....tM 1>1. ".:".:1..' ..tl~ 1:Ib.... . "'.......'. ill . .... ." all
~ ~~JvaC:"~.. DD"'1'Jat"i?~.aUea~~ ~
I!~ on 'the olu, GONIlot:1nt. ...~y 0'.11
c;l '. ..'-~ buUcllinpand nCl8~ eit:r faolllt:l_, wou14.11e
cl4IiIloUvtt, and t:U ., faoUlt:l.. d....u.t In. t:b18
1U=~ i'1>;it'~4" be ~ t:bzaqcjb tM ut:111..tlon of
.... fema of public/prinu put:nenhip.
""""'05Il1,nt of 'the olt. would AUory . l"'J7tU' of
objectl... of both t:b. Dev.10PU' and t:be Aipncy, 1DclUd1ng:
(i)
.llocat:1on of t:b. olt. to . hlgb.r and
bett.r land \10.,
:reotont:1on of the entire o1t. to t:b.
proper1:y tax roll. aII4 .ub.equent
geneatlon of tax nvenu..,
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pnY1al~ of a .1a _ 1tcl:u.U..
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(~).. .". .....1cIe.7_._ .... off1oaa
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1Qcnaae 1.- h1P..qua:u.~y doWft1:ovnoUlce
-.ace,
pR~ ee1:ab1t~~ of a part0nin9
~ f~JQ,." a bub for t\tt1U:e
cIoWntolHl. nvltallaa~lOD'
p~4t,I.1. ~f. iU!11t14 off-atnet parJdJl9,
...... ~ W. ala and~er
dowm:_ bUfMu..,
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Dpr<W'lIIifTllt of ~e down~own area
at:ree&eape, aDd
p~~ion of aDd addiUOD ~o ~e
..J4~t. ... and O<.j .rc:1al activity
of t:be diwn~own ana.
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III. JlIlGo7SC'l' '%JIlI..,y~.
1'be ... ~ pnpond 1:0 I:Ie ~ OD ~.
aiu CObIJ~ of t:be foUawing:
(i) . 10- 1:0 12-fto&')' cC._n!1a1. otfice
bui1~ 1:0 botaM fta'-. of caJ,11orn1a
a,enci.. ~.enUy at: ~.... l....U... in
~e. dCND1:own ana and reqUring new
office -.ace,
(ii) a 2- ~o 3-1evai parking facili~,
(Ui) a 1IU1ti-uae parfoZ'11iD9 arb cenur, ~o
be CoruItruct:ed and ."I"IhUd 1:brOlI9I2 a
publ1c/pdvau partnUihlp, itfeqible
fl'Oll ):)oth tiftaftcial and aiu planninv
perapecUve., and
(iv) atraetacape illprov___ in and around
~. project aiu.
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Propa,.1 a.u_e.1......t: Agency
Cltyof ftn ~
Page 3
%V. J:q;vaonmM'l' COftlI U'1":bIaU.
..1:1u"t o~=..~'Q cl::'f: tb1:Y":lY v:In1:Pf:l~=~1'Y
~ alte. wou1.4 .., ..~ ~.. tIIie.~ a1: a prlce
abe ~ _>at"'~IUill'lli,.l ~ lie a11~
by an &llPftlMJ: aa1:ully .a... ...... A9tmcy and 'tile
o.ve1oper.
. Aa...,.t...., _1: .. ~ oft. baU.t..a be
~- ..1_WDIiIld lie aCllUe A ~,
El~=.tt1::~~~~::"':r~
tbeacl~obl_ ~.~\l!I'["', and .. .....i.1:e4
nz.tt>4.lII" an4 1......,. hIPk.....1 -'1t., woul4 be ao1: 1...
t:IWl $20 aUlio'Q.
.0 M1:1u1:e of 1:be ooat; of ....lopiaf tbe .~~
uta 0eD'tez'. !a ....~.. '.~' extana~va .....1;l-.1
4ia....1ou ... r-.41... .~lylbf tbe .~ .. the
.ApqCy and vu-lou....Uc.. U4.pd~ uta-n1a1:e4 ~!1:l..
.in1:areatad .in deve1opaen1: of IIUcIh a tacllity.
v. AGD'CY USISBlICB/PARTICIPA'1'IOII' UQUUftb. .
'lbe o.veloper. ... "'~1:anoa .~. 1:be ~ vlt1a
r...r4 '1:0 ,i. ..~'tlOll,al1:a. CIl............ ~1:i.!iID,
mi' ~lGGa1:i.OI) of., ..~ .~'. .~. .... . -iii; ~.l" tor
... ~ f1aanc1af ot~10~.II.Il~ _ 1:beal1:e. lIOn
apee!'!o _ar1~. of t:b.ef.~ .1. ...in.... ae<Jt"'"
.... AipaCy .v.o.1...... ~ 4ar1n9 tbepn,I.1l4periodot
aXeluai.. ftaCJ01:1a1:ion.
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VI. PROPOSAL.
fteo.ve. 10per ~.p. tbe...., 1: tbe Agtmcy ute. .in,1:0 an
......1: '1:0 ....U... lxc1._iv.ly vitia repJ:'d1:O tbia
~4lIfCltl.l, for, an .t.Jai~t*'J.od of 120 .ya,..j~ 1:0
exi:tlMlontor .. ,.....0Ml .to "-P. 'lbe Owe1.... WClU14
... . rafundal)l.~.l1: .in t:be ..... of 'III 1:0 .11,000 .1:
t:be '1::" of --biJln1:o ..... U ~..nlt. , At: t:be
:=_~::f o::t.:.::.s~~l::r~-r ~4J:-1:::
Acpncy raCJU41nt~J1.lilli'lt:1C11l mI ,nt.Y4d_liUUil1: of 1:11,
::1= ~~1:e~:~1n9 "f::o.in ...~=*':rt~WlItb:a"'~~f
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ft~OIIa1 i:oo ~~~ r"i: Agency
C1~y of Ian ~
Pag. ..
Callfen:m.a. ... ..f. Ga~ Of.. .... II... .. i/"01el otf-lNilcUJMi
and .~t.l1:1oa. . .~,.1l' a6I1doaal pxl..ta17 .0'lthe4
~t:z nQU1.red t. t:IIe ....,~.
1'hl8 .1t~:.:1. ita OClIli. .E.......... ....... ........~ -t:erlnv
1mo _A9J*.__at b.--.....-... axoJ.ulftly vltll tIl.
Dev.loper vlt1llD 60 clap of'. ... lon.
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eooUouLu DBVBLO_CXIIIPUY
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IIBIBIT "A"
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~. 'J.'O ~u~ axCLUB~va.!.
by and between 'the
~ .IGBNCr OF
!'HB Cl'l'Y 01' SAN 811NA1DlNO,
and
eousSOULIS DIYBLOJIMBNT COMPANY
(CBN'1'RAL Cl'l'Y PllO.lBC'f ARBA)
>>aud aa of
, 1990
DAB/.../Couaaou1.agr
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AGENCY ,
DJWBt,OPIR,
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2 TABU OF COIft'~S
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I. [Section 100] NBGO'l'IATIONS
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A. [Section ~01] Good Fa! th Negotiationa
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B. [Section 102] Requ1red Actions
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C. [Section 103] Negotiation Period
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D. [Section 104] Deposit
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II. [Section 200] DBVBLOPMBN'l' CONCBP'l'
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A. [Section 201] Scope of Deftlop.snt
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B. [Section 202] Developer'. Findings, Detel'll1netions,
11 Studies and Report.
12 III. [Section 300] PURCHASE PRICE AND/OR O'l'HER CONSIDIRATION
13 IV. [Section 400] !'HE DEVELOPER
. 14 A. [Section 401] Nature of 'the Developer
15 B. [Section 402] Office of the Deftloper
16 C. [Section 403] . The Developer's Consultants snd
Professionals
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D. [Section 404] Assignment
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E. [Section 405] Full Diacloaure
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V. [Section 500] !'HE DEVELOPER'S FINANCIAL CAPACI'1'Y
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A. [Section 501] Financial Ability
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B. [Section 502] . Construction Pinancing
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C. [Section 503] Long-Term DeveloplleDt Financing
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D. [Section 504] Bank and Other Financial Reference.
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B. [Section 505] Full Disclosure
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VI. [Section 600] COMMISSION'S RESPONSIBILITIES
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A. [Section 601] Redevelopment Plan
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B. [Section 602] Public Hearing
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. 2 VII. [Section 700] 8PBC.lAL PROVISIONS
3 A. [S.ction 701] ...1 E.t.te ~~..ton
4 B. [Section 702] Pr... Rel.....
5 C. [Section 703] Nc>ncU8cr1.ll1nation
6 D. [S.ction 704] Notice
7 E. [S.ction 705] O1:h.r Agreements
8 F. [Section 706] Warren'ty of ugnator.
9 VIII . [Section 800] LIMI'1'A'1'IONS OF '1'IlIS AGRBEMBN'1'
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BXHIBI'l'S
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BxbJ.bU A Ute Map
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DAB/8e./Coua8oul.egr 3
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~~ '1'0 ~U'l'B .~IVBL!.
mIS .lGRDMBN'r '1'0 HBGOtIA'l'B BXCLUSIVBLY (1:he "Agrement") is
entered in'to this '-1' of , 19_, by and
between 1:he RBDBYBLOPMBNT AGIIfCY OP '1'IIB CITY OP SAN 8B1tHArtDINO, a
public body, corporeu end toUtic (1:he "Ag~"), end COUSSOULIS
DBVBLOPMBNT COMPANY (the "Developer"), on the ~er.. and
provisions set forth below.
'1'BB AGENCY AND '1'BB DBVBLOPBR IIIIRBBY ~.. AS FOLLOWS:
I. [Section 100] NBOOTIA!IONS
A. [Section 101] ~ pai1iJl ~ia...
'!'he Agency end 1:heDeveloper agrH for 1:he Negotiation
Period ..t forth below to negotiate d1.11gently end in good faith
'to prepare a Disposition and Development Agreuent (the "DDA")" to
be considered for ezecution between 1:he Ag~ and 1:he Developer,
in the aanner eet forth herein, with respect to the development
of certain real property (the "Site") located within the
boundaries of the Central City aedevelop.ent Project (the
"Project"). '1'he Site is shown on the "Site Map," attached hereto
as Bxh1bi t A and incorporated herein by reference.
The Agency agree., during the Negotiation Period, a.
hereinafter defined, end provided that Me Agreement remains in
effect, not to enter into an agreement that does not include the
participation of the Developer regarding the development of the
Site without the COft.ent of Developer~ provided, that the
foregoing shall not be dee.ed to prevent the Agency from
furnishing to enyone. public records pertaining to the proposed
DAB/.e./Cou.soul.agr 4
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2 d.V.lop..nt. Notwith.t.nding the ~or.g01ng, the Dev.lop.r
3 .cknowl.dg.. th.t it. rights h.r.und.r ~r. subj.ct to th.
4 Agency'. obUg.tione und.r St.t. l.w and th. ltedevelopaa.nt Plan
5 for th. Proj.ct (th. "Plan"), 1ftclud1ng, but no1: l:1a:11:.d 1:0 tb.
6 conduct or disposi1:ion of any proc"d1ngs wh:1ch require notic.
7 and. public h..ring, the C.liforni. Bnvironm.nt.l QU.li1:y
8 Control Ac1:, and th. requiremen1:s ~or the DevelOPer and/or 1:h.
9 Agency 1:0 ob1:.1ft certain .PProv.lS ~Z'ClII o1:her PUblic .n1:1 ti...
10 Th. obU..tion 1:0 n8801:i.t. 1ft good fat th req\Ures 1:het D.v.loper
11 cc..unic.t. with Agency with r.spec1: to tho.. i88U.S for which
12 .gr....nt h.s not b..n r..ch.d, and in such COllllllUn:1c.tion to
13 ~ollow reason.bl. n.goti.1:ion procedur.s including m.eting.,
14 t.l.phon. conv.rsations and correspondenc.. It is understood by
15 the parti.s th.1: tinal accord on those is.u.s may not b. reached.
16 B. [S.ction 102] R.QUir.d Aot:1one
17 ( 1 ) No1: l.t.r than 90 days ~Z'ClII d.1:. of tbis Agreement
18 and aubj.ct 1:0 provisione of Section 800, the D.v.lop.r sh.ll
19 submit 1:0 1:h. Ag.ncy . "D.velopm.n1: Conc.pt P.ck...". The
20 Develo,_8nt Conc.pt pack.g. sh.ll includ. th. ~oUow1ng:
21 (a) . detail.d d.scription of thepropo..d
22 d.v.lopm.nt, inCluding us.s, approxima1:e square footage of
23 buildings, tentative designation of parking and landscaped area.,
24 and us.rs/t.nants (:1f known) ~or the Sit.;
25 (b) marketing reports d..cribing and
26 sub81:an1::1ating (on . pr.liminary basis) 1:he und.rtakings Propo..d
27 by th. Dev.loper;
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2 (0) .s~ima~e of develop.eD~ oos~s wi~h
3 supporting da~a wUh re8P8o~ ~o ~ Si~e;
4 (d) key assump~iOlUl as w eCODClllio f..sibi1i~,
5 .uob .as deve1op11en~ ~1m1ng, and any cOllUlli~.en~s expeo~ed from
6 the Agenoy;
7 (e) ~he proposed .Cheduling cf ~he proposed
8 developaen~;
9 (f) ~ pr~ed eouroe and _~ of financing:
10 (g) de~ailed biographical and background
11 deecrip~lon of ~he propo.ed Con~rac~cr/Devaloper (and all
12 principe1s in ~he proposed develOpl~ errt1~), including suoh
13 ma"er... (1) prior record with re8P8c~ ~o ~he comple~ion of
14 projeo~s, par~icularly ~hose of a .cale oomparable t:o t:hat:
15 proposad herein; (1i) reoord of t:i.ely performance reflect:ing
16 minimal lit:iga~ion and/or dispu~es concerning the paymen~ of
17 join~ van~ers, conuacwrs, suppliers, or taxing authorit:ies
18 and (Ui) record of sat:isfact:ory operat:ion of analogoua project:s.
19 It: is undersWed ~t: the Agency ..y~ake appropriat:e st:eps t:o
20 verify suoh matt:ers, and the Developer agrees w cooperate in
21 furnishing suoh information t:o the Agency:
22 (h) access to auditedfinanoial statement:s for
23 guaranwrs (the Developer aCknowledge. ~t personal guarant:ee.
24 may be requirad with respect: t:o' obligat:iona of tha Developer in
25 ~he event: t:ha Daveloper does business in a oorporate or
26 part:nership form) 80 long as thase are not: w become a mat:t:er of
27 public record.
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(2) PrOlllp1:1y upon :receJ.p1: of 1:be De~lop..ntConc.pt
3 Packag.,1:he.Agency 8hall nvi_ 1:be dev.lop.lnt concept propos.d
.. by 1:be Developer, tog.thW with 1:be ~n&ar of1:be D..,.lopment
5 Conc.pt Packag., and IIay .ither nuonably appro.. 1t, reque.t
6 IIOdificationa or r.ject it. If any web it... are rej.cted, the
7 Agency 8hall provide a li.t of d.ficiencies 'to the Dev.loper, and
8 if the.e deficienci.. are not correct.d 'to the .atisfaction of
9 the Agency within thirty (30) calendar days of such rejection,
10 this Agree..ent .hall auto..aticallY terainate unle.s it is
11 extended by the 1I1I1:1Ial wri t1:8n agre_.nt of the Agency and the
12 Developer.
13
(3) If 'the Agency approve. the De"elopment Concept
14 Package, then, the Agency end 1:be .l)e"eloper .hall continue to
15 n.gotiate toward 'the .xecution of a DDA with re.pect to the
16 d...10plltnt (1:be -Development-). During th1. negotiation period,
!
17 the Developer .hell prepare and .ublll1t an architectural conc.pt
18 of the PrOpo.ed Davelop.ent. If a DDA hu not been entered into
19 on or before 120 days from the date of thi. Agreement, which ..ay
20 be extendad by .utual Agreement for not 'to exceed 60 addi 1:1ona1
21 days, thi. Agre..ent 8hall be autematically t.ra1nated un1e.s it
22 has b.en e.rli.r ter..inated. If a DDA is .ign.d, it shall
23 supers.d. this Exclusi". Negotiation AgrHllent.
24
[Section 103]
c.
N.oot:a,at1on P.riod
25 Th. duration of this Agr....nt (th. -N.gotiation
26 Period-) 8hall be On. Hundr.d Twenty (120) day. from the date of
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ex.cution of this agr....ent by the Agency, unle.. .oon.r
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2 t.:rain.'t.d pur8u.nt to the SJrOvi.iona o~ 'thi. -Agreeaent. '!'he
3 Negoti.'tion Period ..y be .xtended by .utu.l.gr....nt of the
4 parti.s.
5 D. (Seotion 104] DeDOsU
6 Prior to th. .x.cution of this Agr....nt by the
7 Agency. the Dev.loper shall eubmi t to th. Ao.ncy a good faith
8 depoaU ('th. -D.poeU-) 1n 1:h. amount of JPlP'1'atbI tHOUSAND DOLLARS
9 (815.000.00) 1n 'the fOZ'lll of 8i'th.r Q4lsh or an 1n'evocabl. l.tt.r
10 of cred1't 'th.t 1. .atisfactory to 'the Agency'. legal cOunsel to
11 ensur. 'that 'the Dev.10per will proo..d d11igently and in good
12 fai'th to n.gotiate and perform all of 'the Dev.loper'. obligations
13 und.r this Agr....nt. Xf the D.po.it 18 in 'th. form of an
14 1rrevocabl. l.tt.r of cr.41t. 'the Developer .hall .a1ntain such
15 l.tt.r of cr.dlt 1n full fore. and .ff.ct for the .ntire
16 N.got1at1on P.riod h.r.und.r. .nd .hall .ztend the l.tt.r of
17 cr.41t to the .xt.nt thi. Agr....nt or v.r1oue ti.. periodS
18 h.reund.r are atended. The Agency 8hall have no ob11gation to
19 .arn interest on 'the D.posi t. Any 1nter..t .arned on 'the D.posl t
20 .hall be the eol. property of 'the Agency.
21 Xn th. .v.nt the D.v.lop.r has not continu.d to
22 n.go1:1.te 4111gently and 1n good fai'th or has failed to timely
23 41scbarg. its r.sponsibiliti.s pursuant to S.ction 102 of this
24 Agr....nt. 'the Agency shall give written notic. thereof to 'the
25 Dev.lop.r. who shall then have ten (10) worldng d.ys to commence
26 n.goti.ting 411ig.nt1y and in good fai'th or. w1'th respect to a
27 failur. pursuant to Section 102 of thi. Agr...ent. thirty (30)
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2 days "'to auzoe 1zozoe.peative of 1:he good ~a1'th of.1:he Developer.
3 Following 1:he reae1p1: of.uah notioe and 1:he ~a1lure of 1:he
" Developer 1:0 1:hereaf1:er oo.ae~ negoUa1:1ng Ul good faith 1f1 thin
5 .uch 1:en (10) wOl'k1ng day. or 1:0 cure a ~a11ure pursuan1: to
6 Sec1:1on 102 w11:h1n 1:b1rty (30) aalendu daye. 1:b1s AgJ:aaent lIIay
7 be 1:era1ne1:ed by 'the Agency. Xn 1:he e1rant of .uch tarII1nation by
8 'the Agency for a reaaon O1:ber 'than 1:he failure of 'the Developer
9 1:0 negotiate Ul gOOd faith. 'the Depo.i1: aball be returned 1:0 1:be
10 Developer and ne1 ~ party aball have eny fur1:her rith1:a againat
11 or l1ab1111:y 1:0 1:be o1:ber under 1:b1. Agreuent.
12 '1'HE PAR'l'XBS AGItIB 'l'HAT XN '1'HE BVEN'1' '1'HE DBYBLOPBIl FAILS TO
13 NBGOTJ:ATB DILIGENTLY AND XN GOOD FAITH AND THXS AGRBEMENT XS
14 DRMINA'l'BD ON 'l'HAT BASJ:S. '1'HE AGENCY WOULD SUSTAIN LOSSES WHICH
15 WOULD BB UNeBRTUN. SUCH LOSSES WOULD XNCLUDE COSTS PAYABLB TO
16 ADVXSBRS AND STAFF TXMB ALLOCATBD '1'0 THB PREPARATION OF THIS
17 AGRBBMBN'l' AND ITS IMPLBMBNTATION. AND SUCH VARIABLB FACTORS AS
18 THB LOSS OF OTHBR POTBNTIAL DEVBLOPMENT OPPORTUNITIES WITH
19 RESPBCT TO '1'HE SID. FRUSTRATING AND DELAYING '1'HE IMPLBMBNTATION
20 OF '1'HE RBDBVELOPMBNT PLAN AND FOREGOING MAXIMIZING BFFORTS TOWARD
21 INCRBASING TAX INCRBMBNT RBVBNUBS. PROVIDING BMPLOYMBNT.
22 XNCRBASING PRIVATB INVBSTMBNT. AND THB ATTAINMBNT OF OTHER
23 OBJECTIVES OF '1'HE RBDBVBLOPMBNT PLAN. IT IS IMPRACTICABLE AND
24 BXTRBMELY DIFFICULT TO FIX THB AMOUNT OF SUCH DAMAGES TO THE
25 AGENCY. BUT THE PARTIBS ARE OF '1'HE OPINION. UPON THE BASIS OF
26 ALL INFORMATION AVAILABLE TO THBM. THAT SUCH DAMAGES WOULD
27 APPROXIMATELY BQUAL '1'HE AMOUNT OF '1'HE DEPOSIT (WITH ANY INTEREST
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BMNED '1'IIEUON), AND SUCH AMOUIft' IlfALL 88 R&'l'.AIIfIU) BY '1'HB MINCY
IN THB BYBN'1' 'l'HIS AGRBBMBNT IS 'l'DMINA'1'BD BY '1'HB AG8NCY FOR THB
CAUSB Sft FORTH IN '1'tttS PARAGltAPH.
THB DBYBLoPBa AND '1'HB AGBNClr IPBCIPICALLY ACIOfOIfLBDGB THIS
LIQUIDATED DAMAGBS ftOV%SION BY THBIR IIGNA'1'UItB 8BLOW:
DeveiOSler Initial Hen
Agency fiiTbel Here
In 'tM event th. Agency ~ai1s to tMIgoUat.di11gently
and in good ~a1th, the D.v.lop.r shall g1v. wr1tt.n not1c.
'tMreof to the AgenCf whiCh shall th.n have t.n (10) working
days to oo_eno. negotiating J.n good ~a1th. Following the
reoe1pt of suoh notice and the fa11ur. of the Ag.ncy to
ther.aft.r Oo...no. negotiating in good faith w1t:h1n such ten
(10) workJ.ng day~, this Agr....nt .ay be terminated by the
Developer. In the event of suCh t8rll1nat1on by the Developer,
the AgenCf .all return the Deposit (with any interest earned
thereon) to the D.veloper, and neither party shall have any
further rights against or liability to the oth.r under this
Agreement.
Upon automatic termination of this Agreement at the
expiration of 'tM Negotiation Period or such extena10n thereof,
or upon ex.cut1on by the ~ iss10n and the Developer of a DDA,
then concurr.ntly th.rew1th, the Deposit h.reundar shall be
returned to the D.veloper and n.1ther party shall have any
further rights against or liability to the oth.r under this
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2 Agr....nt. If a DDA ha. been .ucute4 by .~.~ end 1:he
3 Dev.loper. the DDA ahall ther.aft.r govern the r.tghts and
" obligations of th. part:1.. with r.apect: to the developaent of the
5 SU..
6 II. [S.ction 200) ~~llV!~
7 A. [Section 201) .~ ~f ~or Int
8 Th. n.got.t.t.tona h.reunder ahall b. baaed on a
9 dev.lopll.nt conc.pt wh1ch ahall .tnclud. the dev.l~t of a
10 high-riee ccameroial office building. and relat.d left~.cape and
11 atr.et.cap. illprov..ant.. a parkJ.ng faciU:ty end. if fenible
12 from both planning end 'inanei.l perspective.. a performing art.
13 facility. Design end architecture will be developed during the
14 negotiation of the DDA. The Agency and th. Developer mutually
15 acknowl.dg. (i) that the principal component of this proposed
16 proj.ct: i. an offic. building intend.d to hous. office. of the
17 DeP8rtaant of Transport.Uon of th. Stat. of CalifOrnia. and (11)
18 that the f.a.ibility of devehl,'lment of a perforatng art. facility
19 as a COIIIPOnant of thi. Proposed Project ia ext:reaely uncertain at
20 the pr..ent till.. and that. whil. the D.v.loper is highly
21 motivat.d to pursue thia aspect of the proposal. it is contingent
22 upon a nUllber of variable. outside the contrel of the Agency and
23 the D.v.lop.r. including but not lillit.d to availability of
24 public and private support for auch an undertakJ.ng.
25 B. (Section 202) DeveloDer' a FindinGa. Detera1nations.
26 Studi.. and aeDOrta
27 Upon reaaonsbl. notice. a. from till. to ti.. requnted
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2 by ~he Agency, ~he Developer agree. to .ake ~ra1 and wri~teft
3 progre.. repor~. advi.ing the Agency on all .atter. and all
4 .~udie. being .ade by ~ Developer. Pur1:her, at ~rty (30)
5 day inUrval. &011 ~e de. of "ecu~on of ~. Apa-.nt by ~he
6 Agency, ~he Developer .hal1 provide a wri~ten repor~ to ~e
7 Agency concerning its progr... in preparing .i~e plan., floor
8 plana, .1eva~0D8 and ~ .cbe4ule. for d""lop11en~ of the Site.
9 III. [Sec~on 300] 'YB~ ~R1CB AND/OR ~. ~DATION
10 The PUrcha.e priCe and/or o~r COD8idara~ion to be paid by
11 ~he Developer under ~he DDA .ill be ..tabli.hed by ~e Agancy
~2 after nagotia~ion .i~ ~ DevelOPer_ Such PU:rcha.. price end/or
13 o~her con.ideration .ill be baa.d upon auch factors a. market
~4 conditione, denaity of developlllall~, con. of develClplllent, risks
15 of the Agency, riske of the Developer, ..timated or actual
16 Developer profi~, public purpose and/or fair valu. for ~e uses
17 permitted to be developed and financial requirements of ~e
18 Agency, and .111 be aubject to apPXoval by ~ Agency and by ~e
19 Common Council of San Bernardino after public hearings a.
20 required by la..
21 IV. [Sec~on 400] 'nIB DBVBI.CWBR
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A.
[Sec~ion 401] Nature of ~ DevalQD8r
The Developer i. a CaUfornia CorPOration.
[Section 402] Office of the DeveloPer
The principal office of ~e Developer .1.:
341 w. Second Stree~, Sui~e 1
Sen Bernardino, CA 92401
B.
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C. [Section 403] 'lhe DeveloDet-' s COllsul tent. and
PJ:ofe..iaaal.
'!'he Developet-'s arch1tect.w1th t-egard to pt-elim1nary
work on thi. project 1. C. Wl1110 Davi..
'!'he Developer'. engineer with t-egard to preliminary
work on thi. project is Jo.eph B. Bond1aan and A118OC1ate..
'!'he Developet". attomey will be: Cary D. Lowe, Vice
Pr_1dent and General Counsel.
'lhe.e COIl8ul tant. and p*vfe.81onal. have been engaged
in prel1m1nary wot-k for develOp..nt and are abject to change at
the option of Developer.
D. [Section 404] AII.10Dment
'!'h1s ~t shall not be au1gned by thel)eveloper
without prior written approval of 1:he Agency, wh:l.ch the Agency
shall gt-ant or refuse at its. sole discretionJ provided that
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a.signments proposed with financial 1n8titutions for financing
purposes shall be subject to re88Oll8ble review and approval of
the Agency.
B. [Section 405] Full 111.Cl~
'!'he Developer i. required to make full di.Closure to
the Agency of its principal., officer., ..jar .tockholders, .ajor
partners, joint venturers, key .anaoer1al e.ployee. and other
as.ociate., and all other .aterial information concerning the
Developer and it. ...ociate.. Any Significant change 1nt he
principals, as.ociate., partner., Joint venturers, negotiators,
development .anager, consultant., profe.sionals and directly
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2 1nvolftd UDagerial .-ployee. of tiMa Developer $a IlUbjact to the
3 approval of the Agency.
4 V. [section SOO] ,. ~..'" PINANCIAL CAPACl'.l'Y
5 A. [S.ct1on 501] P~1.1 Abllity
6 Prior to ex.cut1on of the DDA, the D.v.loper shall
7 .ubalt to the Ag.ncy ..t1sfactory ev1denc. of it. abl1lty to
8 financ. and ~l.t. tiMa dIwtllopaent.
9 B. [S.ct1on 102] "..,...........tion P;lnanc1nQ
10 ~h. D.velop.r'. propo..d m.thod of obtaln1ng
11 cona1:ruction financing for the dev.lopaent of tiMa Sit. shall be
12 IlUbmU:t.d to the Agency ClOnCUn'ently with execution end d.l1ve,ry
13 by tiMa Developer of a DDA to the. Agency for approval.
14 C. [S.ct1on 503]. Lofta'"'1'ena >>ev.101l..nt P1nanclng
15 Th. D.veloper's pr:opo..d ..thod of obta1n1ng long-tera
16 d.v.lopm.nt financing .hall be submltt.d to the AgenCJr
17 concurrently with ex.cut1on and d.l1very by the Dev.lop.r ofa
18 DDA to tiMa Agency for approval.
19 D. [Saction 504] Bank and other P1nancial R.ferences
20 'l'he D.veloper's bank 1. Well. pargo 'ank.
21
B.
[S.ction 505]
Jl'ul1~1aclollUr.
22 Th. D.veloper wl1l be requ1r.d to make and .a1nta1n
23 full di.clo.ure 1:0 the Agency of it. .ethods of financing to be
24 us.d in the developmant of the Sit..
25 VI. [Section 600] COMMISSION'S RBSPONSIBILI~IBS
26 A. [S.ction 601] R.d.velo_ant Plan
27 ~h1s Agr....nt and the DDA are subj.ct to the
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2 provJ..J.on of the aedevelop.ent Plen for t~ Central City
3 ftedevelo,.ent Project which wa. approved and .dopted by the
4 Co_on CouncU of the City of Sen BernarlUno by orcunanc. No.
S 2649 on February 23, 1966, .. -.nded by ~fn.oea No. 3059
6 on M.rch 16, 1970, Ord1nence No. 3683, on No"e.ber 7, 1977,
7 Ordinance No. Me-558, on Dec-<:!ber 8, 1986, 0rc!1nence No. Me-559,
8 on December 8, 1986, and Ordinance No. MC-723, on April 2, 1990.
9 B. [Section 602] ~lOHear1na
10 A DDA reaul1:1n; fraa 1:be negot:1ationa hereunder &h.ll
11 beco.e effect1"e only after and J.f the DDA baa been considered
12 end .ppxo....d by th. Agenoy end by the Copon Council of S.n
13 Bernardino at public heulngs Called for auch purpotIe.
14 VII. [Section 700] sng~AL PROVISIONS
15 A. [S.cUon 701] a..l BR.te On f..lon
16 'I'he Agency ah.ll not b. lJ..ble for any re.l e.tat.
17 co_1..ion or broker.ge fee. which ..1' ari.e herefroa. '!'he
18 Agency repre.ent. th.t :I:t haa eng.ged no broker, .gent or finder
19 in connect:1on with t:h1s trans.ction, and the DevelOPer .gre.s to
20 hold the Agency haral... fZ'Olll eny clUm by eny broker, .gent or
21 find.r ret.1ned by the Dev.10Per.
22 B. [Section 702] Pres. aele~..
23 'I'h. D.v.loper agree. to d1.cu.. any pre.. r.l.....
24 wi th . de.ign.ted Agency r.pre.ent.tive prior to disclosure in
25 ord.r to ..aur. .ccur.cy and consl.tency of the tnforlllatlon.
26 C. [S.ctlon 703] Nondlaor1a1natlon
27 With resp.ct to Dev.lop.r-. 4bl1g.t1on. .nd
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2 p.rfora.nc. her.under, 1:h. Developer 8ball not: d1acrtll!inat. in
3 eny ..t1:er on 'th. "-i. of r.ce, cr..d, color, religion, vend.r,
4 1IIarit.l .1:ab., naUonal origin or aacee1:ry.
5
D.
[SecUon.704]
No1:io.
6 All notio.. giv.n or requir.d 'to be given h.reunder
7 shall be in writing .nd .ddr....d ~o the p.rtie. a. .et out
8 b.low, or to .uCh other .ddr... .. .ay b. notiC.d undar and
9 pur.uant 'to 1:h1. Paragraph. Any such no1::1ce 8ball be consider.d
10 ..rv.d when actually reo.iv.d by the party intended, Whether
11 per.ona11y ..rv.d or s.nt po.tag. pr.peid by r.gi.t.r.d or
12 certifi.d aa:11, r.1:urn receipt requ.ated.
Agency:
Red.velOpll8llt Agency of 'th.
City of San ..~
.300 NOrth -D- Stftet, Fourth Floor
San Bernardino, CA 92418
Attn: BxecuUve Director
eou..oul1. DevelC'pnen1: CoIIpany
341". hc0n4 street, 1u:11:a 1
San .ernarcl1no, CA 92401
A1:tn: Cary D. Love
Deva1oper:
B.
[SecUon 705]
other Aareements
Thi. Agr....nt sup.r..d.. any pr.viOU. agr..m.nt.
20
.nt.r.d into b.tw..n th. D.v.lop.r and th. Ag.ncy or .ny
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di8cu..ion. or und.rstanding. b.tw..n the D.v.lop.r and the
Ag.ncy wi1:h r..pect to 1:he lit..
F.
[S.cUon 706]
Warrenty of S:1ana'tor8
Th. 8ignatori.. to this Agr....nt r.pr...nt and
warrant 1:hat 1:h.y have 1:h. authority 'to ex.cut. 1:h18 ...ent on
behalf of 1:h. principals 1:hey purport 'to r.pre.ent.
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2 VUI. [lection800] LUfUM'.:t'*' 0,. 'l'lII8~ .
3 By it. .z.cution of --thi. Agr...4mt, tile Ag.ncy i. not
.. "-ftt.tng itself to ~ ~1ng to undertake e.) dispoSition of
5 1.nd to the D.v.lop.r; or (b) any oth.r act. or .ctivitie.
6 r.Quir1ng the 8UbMquen1: ~t ..rci.. of discretion by
7 the. Agency, the City or any apncy or deJIIU t-nt thereof.
8 '1'h1. Agre8ll8Dt dOH- bOt conat1 tat. a diapoai t10n of prcperty
9 or ..rci.e of ccmtrcl ""'PJlo~rty by the Agency or _ the City
10 .nd do.. not requ1r. . public h..ring. az.cution of th1s
11 Agr.ement by the A9ener 1. Mhly en agr_.nt to enter into a
12 period of .Clu.iv. n8CJOtJat1GD8 .coord1ng to the terms hereof,
13 re..rving final di.cretion and approv.l by the Ag.ncy and the
14 Ci ty .. to .ny D1spo.1 t10n .Dd D.velopment Agreement and all
15 proc.eding. and dec1.1.. in connection th.r.With.
16 Th. p.rt1.. und.r.t.nd.nd agr.. th.t the proj.ct
17 cont_pl.ted by th1. "llID8Ilt 1. subj.ct to Dev.loper reach1ng
18 .gr....nt with the .t.t. of C.liforni., D.p.rtment of
19 Transportation (CalTrana) for occupancy of the propo.ed ofUce
20 bul1ding pursuant to . le..e or other agreement, and acqu1.it1on
21 of sev.ral additional, pr1vatsly owned parc.l. of land by the
22 D.veloper, neoes.Bry for development of the fac111t1.. ezpected
23 to be requ1r.d by CalTrana, and should .uch .gr._ent be delayed
24 or DOt obtained .t .11, all d.adl1n.. and date. conta1ned in th1s
25 Agre8lll8ftt 8hall be r.asonably eztended, prov1d.d that in DO event
26 shall the n.gotiation period outlined in Section 102 (3) be
27 ez'tended without the written agre_ent of Agency. In addition it
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1
2 1. undentood and aorMlS 'th.t the lSet~ of good ~a1th ..
3 autUn.1S in Section 104 dall be ..de ri'th ref8Z'8nC8 to 'the n..d
4 for. C.l'1'rana .gr....nt..nd .cqu1.1t1on of th. n.c....ry
5 add! tional land Parcel. by DtrMloper.
6 IN .ITDSS WBBItIOF. the part1.. hereto have executed th1.
7 Agreeaent to b. .ffaot1.. aa of the data of appro..l of the
8 Ag.ncy'. gO'lrern1ng board which 1. the d.t. first ..t for1:h in
9 th1e AgrHlllent.
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