HomeMy WebLinkAboutR03-Redevelopment Agency
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Redevelopment Agency . City of San Bernardino
300 Nor1h "0" S1nle1, Founh F100r . San Bomordino, CIIitilmia 92A18
(714) 384-S081 FAX (714) 888-9413
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May 18, 1990
AGREEMENT TO NEGOTIATE EXCLUSIVELY - NEH FRONTIER COMMERCIAL PROPERTIES
SynoDsis of Previous Commission/Council/Committee Action:
06/02/86 Authorized RFQ/RFP for development of Baseline and Medical Center
Drive.
07/21/86 Approved Exclusive Right with Alexander Haagen.
01/12/87 Commission approved revised terms and conditions of Haagen Shopping
Center.
01/22/90 Rescinded the Exclusive Right with Alexander Haagen.
01/22/90 Authorized the execution of an Agreement to Negotiate Exclusively
with New Frontier Commercial Property, Inc.
Recommended Motion:
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(COMMUNITY DEVELOPMENT COMMISSION)
Move to add 90 days to the performance deadlines In the Right to
Negotiate Exclusively with New FrontIer Commercial Property, Inc., dated
January 22, 1990.
Respectfully Submitted,
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Robe t J. Temple, Acting
Executive Director
Supporting data attached: YES
FUNDING REQUIREMENTS: NONE
Hard: 6th
Project:NH
Commission Notes:
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Agenda of:
Item No:
May 21, 1990
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S T A F F R E P 0 R T
This Item will provide a 90 day extension of the Initial 120 day exluslve
negotiation period with New Frontier Commercial Property, Inc., in order to
provide sufficient time to complete current negotiations for the major tenant.
On January 22, 1990, the Commission approved an agreement which requires that
New Frontier submit a Development Concept package within 120 days <this will
end on Tuesday, May 22, 1990). New Frontier has made significant progress In
negotiations with major grocery stores and there are good prospects for
success.
The attached letter from New Frontier requests that the Commission extend the
end of the Initial exclusive right period by 90 days, and extend all related
timings by the same amount.
It Is necessary for the major tenant to be Identified before its size Is
determined and this affects the design center, the cost and Income pro formas
and other Information needed for subsequent steps. It is, therefore,
recommended that the Commission extend the Right to Negotiate Exclusively with
New Frontier for an additional 90 days
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New Frontier
Commercial Properties, Inc.
7015, PadrerSl, Suire 2000 - Orange, CA 9266B - C714) 542-9711- FAX (714) ~1423
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