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HomeMy WebLinkAbout2016-174 1 RESOLUTION NO. 2016-174 2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AUTHORIZING AND DIRECTING THE EXECUTION OF: 1) 3 THE FIRST AMENDMENT TO THE EXCLUSIVE NEGOTIATION AGREEMENT 4 (ENA) AND 2) THE THEATER SQUARE DEVELOPMENT SERVICES AGREEMENT (DSA) WITH AECOM TECHNICAL SERVICES, INC. AND THE 5 FRANSEN COMPANY, INC. FOR THE REDEVELOPMENT OF CERTAIN REAL PROPERTY COMPRISING APPROXIMATELY 48.5 ACRES, COMMONLY 6 KNOWN AS CAROUSEL MALL AND REGAL THEATERS, LOCATED 7 GENERALLY AT 300 AND 450 NORTH "E" STREET AND AT THE NORTHWEST CORNER OF FOURTH STREET AND "E" STREET, SAN BERNARDINO, 8 CALIFORNIA 9 10 WHEREAS, on November 2, 2015, Mayor and Common Council approved an 11 Exclusive Negotiation Agreement with AECOM Technical Services, Inc. and the Fransen 12 Company, Inc. (AECOM/Fransen) with the intent to redevelop the Carousel Mall and Theater 13 Square sites; 14 WHEREAS, on December 31, 2015, the California State Department of Finance 15 16 approved the Long Range Property Management Plan (LRPMP) for the Successor Agency to 17 the Redevelopment Agency of the City of San Bernardino; 18 WHEREAS, the Carousel Mall site is listed as site #20 on the LRPMP and Theater 19 Square is listed as site 421 on the LRPMP. Furthermore, both sites were approved as hold for 20 future development; 21 22 WHEREAS, the City and AECOM/Fransen have negotiated in good faith and made 23 significant progress toward the future development of the overall sites; 24 WHEREAS, it is in the best interests of the City, and its residents for the City to 25 execute the First Amendment to the ENA and to execute the Theater Square (DSA). 26 NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON 27 COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS: 28 1 I SECTION 1. The Mayor and Common Council find that the above-stated Recitals 2 are true and hereby adopt and incorporate them herein. 3 4 SECTION 2. The Mayor and Common Council hereby approve the First Amendment 5 to the Exclusive Negotiation Agreement (ENA) approved on November 2, 2015, and 6 authorize and direct the City Manager to take such steps and sign such documents as 7 necessary to Execute the First Amendment to the ENA, including but not limited to the 8 making of clerical or non-substantive revisions to the ENA as may be necessary to effectuate 9 its intent. 10 11 SECTION 3. The Major and Common Council hereby approve the Development 12 Services Agreement (DSA), and authorize and direct the City Manager to take such steps and 13 14 sign such documents as necessary to Execute the DSA, including but not limited to the 15 making of clerical or non-substantive revisions to the DSA as may be necessary to effectuate 16 its intent. 17 18 SECTION 4. —Compliance with the California Environmental Quality Act. 19 Approval of the First Amendment to the ENA and approval of the DSA is not considered a 20 project under the California Environmental Quality Act (CEQA), pursuant to CEQA 21 Guidelines Section 15378(a). 22 SECTION 5. Severability: If any section, subsection, subdivision, sentence, or 23 24 clause or phrase in this Resolution or any part thereof is for any reason held to be 25 unconstitutional, invalid or ineffective by any court of competent jurisdiction, such decision 26 shall not affect the validity or effectiveness of the remaining portions of this Resolution or any 27 part thereof. The Mayor and Common Council hereby declares that it would have adopted 28 2 1 each section irrespective of the fact that any one or more subsections, subdivisions, sentences, 2 clauses, or phrases be declared unconstitutional, invalid, or ineffective. 3 4 5 6 8 9 10 11 /// 12 13 14 15 16 17 18 19 20 /// 21 22 23 24 25 26 27 28 3 1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AUTHORIZING AND DIRECTING THE EXECUTION OF: 1) 2 THE FIRST AMENDMENT TO THE EXCLUSIVE NEGOTIATION AGREEMENT (ENA) AND 2) THE THEATER SQUARE DEVELOPMENT SERVICES 3 AGREEMENT (DSA) WITH AECOM TECHNICAL SERVICES, INC. AND THE 4 FRANSEN COMPANY, INC. FOR THE REDEVELOPMENT OF CERTAIN REAL PROPERTY COMPRISING APPROXIMATELY 48.5 ACRES, COMMONLY 5 KNOWN AS CAROUSEL MALL AND REGAL THEATERS, LOCATED GENERALLY AT 300 AND 450 NORTH "E" STREET AND AT THE NORTHWEST 6 CORNER OF FOURTH STREET AND "E" STREET, SAN BERNARDINO, 7 CALIFORNIA 8 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor 9 and Common Council of the City of San Bernardino at a regular meeting thereof, held on the 10 15t" day of August, 2016, by the following vote to wit: 11 Council Members: AYES NAYS ABSTAIN ABSENT_ 12 MARQUEZ x 13 BARRIOS x 14 VALDIVIA x -- 15 SHORETT x 16 NICKEL x 17 RICHARD x MULVIHILL x 18 19 Georgeann Hanna CM�j City Cl--1- 20 21 The foregoing Resolution is hereby approved this day of August, 2016. 22 23 Lt,,t� L1414 2 24 R. CAREY D IS, Mayor Approved as to form: City of San B rnardino 25 Gary D. Saenz, City Attorney 26 27 By: 28 4 2016-174 SEP 2 12016 8..! THEATER SQUARE DEVELOPMENT SERVICES AGREEMENT among AECOM TECHNICAL SERVICES,INC. and THE FRANSEN COMPANY,INC. and THE CITY OF SAN BERNARDINO Effective Date: August 15,2016 16214.001-3044102v11 2016-174 THEATER SQUARE DEVELOPMENT SERVICES AGREEMENT This THEATER SQUARE DEVELOPMENT SERVICES AGREEMENT (this "Agreement") is dated as of the Effective Date, and is entered among THE CITY OF SAN BERNARDINO, a California charter city (the "City"), on the one hand, and AECOM TECHNICAL SERVICES, INC., a California corporation ("AECOM") (an affiliate of AECOM, a Delaware corporation formerly known as AECOM Technology Corporation and/or AECOM Technologies), and THE FRANSEN COMPANY, INC., a California corporation ("Fransen," and together with AECOM, "AECOM/Fransen"), on the other hand. The City and AECOM/Fransen are sometimes referred herein collectively as the"Parties", and each individually as a"Party." RECITALS A. The City owns or will own certain real property, comprising approximately 5.5 acres located on the northwest corner of Fourth Street and E Street known as "Theater Square" as depicted on the "Map of Theater Square" (herein so called) attached hereto as Exhibit "A". A portion of Theater Square has been leased to Regal Cinemas, Inc. and is improved with a motion picture Theater (such portion and improvements, collectively, the "Regal Cinemas") operated by Regal Cinemas, Inc. Theater Square also contains the "Development Properties", comprising the "Former Theater Space" (located in the same building as the Regal Cinemas) and the "Pad Site," as such terms are defined below and shown on the Map of Theater Square. B. AECOM/Fransen has proposed to: (i)prepare a "Strategic Plan" (as defined below), detailing the proposed development of Theater Square; (ii) assist the City in the disposition of Regal Cinemas; and (iii) assist the City in the disposition to and development of the Development Properties by unaffiliated parties (collectively, the "Project") in accordance with the "Schedule of Performance"(as defined below). C. Subject to the approval by the City of the Strategic Plan and subject to the obtaining of such approvals as may be needed hereafter from the Common Council and/or the Planning Commission of the City in connection with land use entitlements, the City intends to cooperate in pursuing arrangements for the disposition of (i)the Regal Cinemas and (ii) the Development Properties, all in a manner consistent with the approved Strategic Plan and in accordance with all applicable laws. AGREEMENT 1. Definitions. "AECOM/Fransen Internal Costs" is defined in Section 2.2(b). "Amended Draft Strategic Plan" is defined in Section 3. "Comprehensive Business Plan" means a plan which delineates in detail the proposed plan for disposition and development of Theater Square, and which includes the following: detailed estimated Project Costs, revenues, responsibilities, capital requirements, and capital sources. "Development Fee" means an amount equal to 33% of the Net Disposition Proceeds of the sale, lease or other disposition of the Development Properties. 16214.001-3044102v11 2016-174 "Development Properties" means those properties composed of the Former Theater Space and Pad Site, as shown on the Map of Theater Square. "Draft Strategic Plan" means a draft of the Strategic Plan as more particularly described in Section 2 hereof. "Effective Date" means the date that AECOM/Fransen and the City have duly executed this Agreement. "Finder's Fee" means an amount equal to four percent (4%) of Net Disposition Proceeds with respect to the sale of the Regal Cinemas. Notwithstanding anything herein to the contrary, AECOM/Fransen shall be responsible for any commissions and/or fees due Third Party Brokers in connection with the sale of the Regal Cinemas. "Former Theater Space" is that area located within the building containing the Regal Cinemas as shown on the Map of Theater Square. "Gross Disposition Proceeds" means all consideration payable with respect to the sale of the Regal Cinemas and/or sale, lease or other disposition of any of the Development Properties. "Initial Submittal Date" is on or before sixty(60)days from the Effective Date. "Map of Theater Square" is defined in Recital A and attached hereto as Exhibit A. "Net Disposition Proceeds" means Gross Disposition Proceeds from the sale of the Regal Cinemas and/or sale, lease or other disposition of all or any portion of Development Properties less applicable Normal and Customary Costs of Disposition for such transaction. "Normal and Customary Costs of Disposition" means such costs that are incurred in connection with the disposition of the Regal Cinemas and/or all or any portion of the Development Properties, including without limitation, transaction-related legal costs and other consulting costs, tenant improvement allowance and landlord-required tenant improvement work, title and other closing costs, and survey costs. Fees paid to Third Party Brokers in connection with the applicable Development Property will be included in the Normal and Customary Costs of Disposition of the applicable Development Property. Normal and Customary Costs of Disposition will also include third party costs incurred by the City for tenant design criteria, architecture, and engineering but only if related to the buildout of space. Any such costs shall be approved in the reasonable satisfaction of the City. "Ongoing Development Requirements" means the substantial completion and opening of full service or fast casual dining restaurants occupying at least 2,500 square feet within the Former Theater Space, as described in Section 1.03(1)of the Regal Cinema Lease. "Pad Site" means the approximately 16,000 square feet of vacant land as shown on the Map of Theater Square. "Project" is defined in Recital B. "Regal Cinemas" is defined in Recital A. 16214.001-3044102v11 2 2016-174 "Regal Cinemas Lease" means that certain lease between the San Bernardino Economic Development Corporation and Regal Cinemas, Inc., dated as of January 4, 2012; a copy of the Regal Cinemas Lease is on file with the City as a public record. "Report(s)" is defined in Section 5.1. "Schedule of Performance" means the schedule to be included in the Strategic Plan setting forth the timing and deadlines for the implementation of the Strategic Plan. "Strategic Plan" or "Approved Strategic Plan" means a comprehensive plan for the disposition, development and use of Theater Square, including the disposition of Regal Cinemas,the disposition, development and use of the Development Properties, and such other contents as are required for a Draft Strategic Plan or Strategic Plan under Section 2 hereof. "Strategic Plan Approval Deadline" means the date which is ninety (90) days after the initial submission of the Draft Strategic Plan by AECOM/Fransen. "Theater Square" is defined in Recital A. "Third Party Brokers" means licensed real estate brokers, agents or finders unrelated to any Party hereto engaged by either the City or AECOM/Fransen in connection with the sale of the Regal Cinemas and/or Development Parcels. 2. Strategic Plan. 2.1 Preparation and Submittal of Draft Strategic Plan. AECOM/Fransen shall prepare, at its cost and expense, and submit to the City by the Initial Submittal Date a Strategic Plan setting forth in detail: (i) a site plan, including conceptual design guidelines, (ii)the proposed land use designations for Theater Square; (iii)proposed types of users by category, which may include examples of specific users; (iv)parking; (v)ingress and egress; (vi) a proposal for the management of Theater Square; (vii)a proposal for the methodology to market and sell the Regal Cinemas; (viii) a proposal for the leasing by the City to end users for the operation of full service or fast casual dining restaurants of not less than 2,500 square feet within the Former Theater Space in satisfaction of the Ongoing Development Requirements; (ix) a proposal for the sale and/or leasing of the balance of the Former Theater Space and the Pad Site; (x)a Comprehensive Business Plan for the development of Theater Square; (xi) provisions under which AECOM/Fransen defends, indemnifies, and holds harmless the City and its representatives, officials, officers, employees, agents, and volunteers from claims, losses, suits or damages arising from inaccurate or misleading statements or materials delivered by AECOM/Fransen to third parties in connection with the disposition and/or development of Theater Square; (xii) provisions under which AECOM/Fransen obtains or causes the procurement of insurance for the benefit of the City and its representatives, officials, officers, employees, agents, and volunteers (naming the City and its representatives, officials, officers, employees, agents, and volunteers as additional insureds)with respect to claims, losses, suits or damages arising from acts or omissions of private parties in connection with the disposition and/or development of Theater Square; (xiii) a proposed term sheet describing covenants, conditions, restrictions and reciprocal easements for Theater Square (which shall incorporate as applicable the requirements in the Regal Cinemas Lease); (xiv) acknowledgment by ground lessees and purchasers of property that any acquisition of property within Theater Square shall be on a "where is, as is" basis with no representations or warranties as to condition, fitness, suitability or otherwise by the City; (xv) a plan 16214.001-3044102v11 3 2016-174 for signage within Theater Square; (xvi) identification of other necessary studies; (xvii) analysis of existing entitlement conditions and any changes thereto necessary to accommodate the Comprehensive Business Plan; (xviii) a plan for demolition of those structures within Theater Square, if any, that are not proposed to be used, sold or leased under the Draft Strategic Plan; (xix) identification of target restaurants and retail users (pricing or lease rates for the Development Properties, including all components thereof, which may be expressed as fixed numbers or under a formula provided that the formula is specific, verifiable, fair and reasonable); (xx) summary of anticipated third party expenses, including engineering, planning, architectural,construction services, and development management necessary for implementation of the Comprehensive Business Plan and the proposed source of payment thereof by the City; (xxi) preparation of a detailed project pro forma showing anticipated costs and disposition revenues; (xxii) a plan and proposal for procuring necessary physical site assessments; (xxiii) a plan for retaining existing surface parking or augmenting as necessary; (xxiv) the proposed financial relationship, if any, between Theater Square and the Carousel Mall;and(xxv)a proposed Schedule of Performance. 2.2 Role of AECOM/Fransen in Implementation of the Strategic Plan. (a) Subject to approval by the City, AECOM/Fransen will oversee, manage and direct activities associated with the sale of Regal Cinemas and the sale and/or lease of the Development Properties by the City in accordance with the Strategic Plan. AECOM/Fransen will administer and negotiate terms of purchase agreements and/or leases on behalf of the City under direction of the City Manager or his designee. In consideration of AECOM/Fransen's successful accomplishment of the disposition of Regal Cinemas in accordance with this subsection 2.2(a), upon closing of the disposition of Regal Cinemas out of the closing escrow, the City will pay AECOM/Fransen the Finder's Fee. In consideration of AECOM/Fransen's successful accomplishment of the disposition of any portion of the Development Properties in accordance with this subsection 2.2(a), upon closing of the disposition of any portion of the Development Properties, the City will pay AECOM/Fransen the Development Fee associated with such disposition. (b) The sale or lease of the Development Properties will be accomplished in accordance with the Strategic Plan. AECOM/Fransen shall lead negotiations subject to ongoing consultation with and approval by the City Manager. As part of its efforts, AECOM/Fransen is to provide, and bear the cost of, each of(i) all of AECOM/Fransen's activities in connection with the preparation and obtaining approval of the Draft Strategic Plan; (ii) all planning, (iii)marketing research; (iv)the preparation of marketing materials and marketing of property; (v) project management by AECOM/Fransen; (vi)accounting; and (vii) legal fees of AECOIVI/Fransen ("AECOMIFransen Internal Costs"). In addition, AECOM/Fransen shall use its reasonable efforts to arrange for tenants and/or purchasers to pay for: (y)transactional costs of entities other than AECOM/Fransen and the City; and (z) subject to such tenant improvement allowances as may be approved by the City as a Project Cost, costs of improvements to property required by purchasers or lessees as a condition of their leases or purchases. Notwithstanding (a) and (b) above, no sale of the Regal Cinema may occur unless and until the Ongoing Development Requirements have been fulfilled, unless otherwise agreed by the City, acting in its sole and absolute discretion. (c) AECOM/Fransen shall manage and coordinate the sale or long-term ground lease by the City of the Pad Site. The Pad Site will be sold and/or leased to developers/users in an "as is" condition. AECOM/Fransen shall lead all purchase and sale negotiations on behalf of 16214.001-3044102v11 4 2016-174 itself and the City in coordination with City staff and consultants. If requested and set forth by AECOM/Fransen in the Strategic Plan this process may involve the retention of Third Party Brokers (subject to approval by the City Manager). Any commissions for Third Party Brokers with respect to the sale of the Regal Cinema shall be the obligation of AECOM/Fransen, subject to the last sentence of this paragraph. Any commissions for Third Parry Brokers identified in the Strategic Plan and/or retained by the City with respect to the sale, lease, or other disposition of the Development Properties, shall be the obligation of the City. Any Commissions for Third Party Brokers retained by the City who are neither included in the Strategic Plan nor otherwise approved by AECOM/Fransen shall be the obligation of the City. (d) AECOM/Fransen shall propose in the Draft Strategic Plan any public improvements anticipated to be required as a condition of approval to any required land use entitlements for the Project (including potential design and construction of a public park adjoining restaurant pads at 4th and E Streets). A draft Strategic Plan including all of the elements described in this Section 2 that is in detail sufficient for meaningful consideration and review in the sound judgment of the City shall constitute a "Draft Strategic Plan." AECOM/Fransen shall submit to the City an initial Draft Strategic Plan on or before the Initial Submittal Date. AECOM/Fransen agrees and acknowledges that any disposition of property of the City is subject to review and discretionary approval of the City. AECt and limitation City Charter acknowledges that any property of the City is property be disposed of at a price that s requirement and hmitat h' not less than fair market value. 3. City Review of Draft Strategic Plan. The City agrees that upon receipt of the Draft Strategic Plan, it will review such plan acting in its sole and absolute discretion. Following such review, and after discussions with taxing agencies, the City will provide written input to AECOM/Fransen concerning the Draft Strategic Plan. After the City has provided such input, the City and AECOM/Fransen will meet and consult concerning the provisions of the Draft Strategic Plan, the initial evaluation by the City, and input, if any, received from such taxing agencies and other public agencies, and will seek to implement such modifications as are necessary or appropriate to the Draft Strategic Plan. Following receipt of such written input and meeting with City representatives, AECOM/Fransen shall submit an amended draft Strategic Plan ("Amended Draft Strategic Plan"). Upon receipt of the Amended Draft Strategic Plan,the City will repeat the process described above, with the goal of approving the Strategic Plan. if the City determines that the Draft Strategic Plan, as submitted, or an Amended Draft Strategic Plan is satisfactory in its sole and absolute discretion of the City as a Strategic Plan for development of Theater Square, the Common Council of the City may then approve such plan which, upon such approval, shall constitute the "Approved Strategic Plan." The Approved Strategic Plan must be approved by the Strategic Plan Approval Deadline. If no Approved Strategic Plan has been approved by the Strategic Plan Approval Deadline, this Agreement shall automatically cease to be of any force and effect and the City shall have no obligations to AECOM/Fransen in connection with this Agreement with respect to the subject matter hereof or as to any instruments delivered to the City, except that, AECOM/Fransen shall be entitled to receive a Finder's Fee with respect to any closed transaction for the sale of the Regal Cinemas and/or a Development Fee with respect to any closed transaction for sale or lease of an interest in the Development Properties, in either such case entered into by the City prior to the second (2nd) 16214.001-3044102v11 5 2016--174 anniversary of such termination with any acquirer or end user from whom the City has received a written proposal or letter of intent for such transaction prior to such termination. 4. Assignment Prohibited. AECOM/Fransen may not assign or delegate any of its consent of the respective rights or obligations under this Agreement t in tsp sole nabsolute discr t on� which may be granted or denied y City acting Notwithstanding the foregoing prohibition on assignment, with at least ten (10) days' prior written notice to the City Manager, AECOM may assign its rights and obligations to an entity over which AECOM retains majority control, provided AECOM first submits to the City a report nc al substantiating evidence of AECOM Parent's majority control and the entity's assets, capability, and applicable experience. Upon any permitted assignment hereunder, AECOM and the assignee shall execute and deliver to the City such documentation as the City may reasonably require. When the City receives all such documentation, the assignee shall thereafter be deemed to be "AECOM," and, along with Fransen, "AECOM/Fransen", under this Agreement for all purposes. In addition, AECOM may delegate any consulting, engineering, Plan to r any entity that or s owned by and under obligations hereunder or under the App roved Strategic the control of AECOM Parent. 5. Plans Reports, Studies and Investigations. 5.1 Proprietary Rights. If this Agreement terminates for any reason, without an Approved Strategic Plan, or following approval of an Approved Strategic Plan if this Agreement is terminated prior to disposition of both the Regal Cinemas and the Development Properties, the City may retain all copies of any plans, reports, studies, and/or investigations (collectively, the"Reports"; individually a "Report") respecting Theater Square, if any, that AECOM/Fransen prepares and submits to the City hereunder concerning the Project.. All Reports will be delivered to the City free of all claims or interest of AECOM/Fransen. For all such Reports delivered to or coming into the City's possession,the City may demand and AECOM/Fransen shall transfer to the City,without cost, all right,title, interest, and ownership rights that AECOM/Fransen has or may have to any or all such Reports, and will notify the City of known third party rights, if any, in any Report, such as copyright , trademark, or other use limitations retained by persons other than AECOM/Fransen (that are not otherwise identified in the Report). The City shall be permitted to rely on and utilize the Reports in connection with the development and/or sale, lease or disposition of the applicable part of Theater Square. 5.2 Use of Reports. The City may use, grant, license, or otherwise dispose of the Reports to any person or entity for the Project or any other purpose. Any City use or the City's transferee's use of any Report in completed or uncompleted form for other projects or for this Project, with an entity other than AECOM/Fransen, will be at the City's risk and without liability or legal exposure to AECOM/Fransen. 6. Indemnity. AECOM/Fransen shall indemnify, defend, and hold the City and its representatives, officials, officers, employees, agents, and volunteers harmless from any losses, liabilities, claims, causes of action, injuries, or expenses including, without limitation, reasonable attorneys' fees and costs arising from, relating to, or in any way connected with (a) the performance by AECOM/Fransen of any of its obligations under this Agreement or (b) any Report or Reports, except that the indemnity provided for in this subsection 6(b) shall not apply where the City, or a transferee of the City, uses a Report in any form for another project or for the Project with an entity not affiliated with AECOM/Fransen. The limitation on liability set forth in Section 14.6 below shall 16214.001-3044102v11 6 2016-174 not limit AECOM/Fransen's indemnity obligations under this Section 6 with respect to liability for third party claims against the City, its representatives, officials, officers, employees, agents, and volunteers for punitive (but only to the extent directly attributable to the actions of AECOM/Fransen), indirect, special,and/or consequential damages. 7. Additional AECOM/Fransen Responsibilities. Without limiting any other provision of this Agreement, AECOM/Fransen shall, during the period of time this Agreement remains in effect,do the following at its sole cost and expense, in furtherance of the negotiation process: 7.1 Meetings. AECOM/Fransen shall meet at least two (2) times per month with the City's staff and representatives to review and understand the planning and design criteria applicable to Theater Square,and in drafting the Approved Strategic Plan. 7.2 Reports. AECOM/Fransen shall make oral and written progress reports to the City and/or its staff as the City Manager may reasonably request not more than twice per calendar month. 7.3 Rights of Entrv. Before entering upon any property within Theater Square, whether for site assessment or other due diligence, AECOM/Fransen shall first obtain a right of entry from the City(in a form reasonably acceptable to the City) or the applicable property owner, and any tenant. AECOM/Fransen may ask the City to use its best efforts to help AECOM/Fransen obtain a right of entry upon private property. 7.4 Environmental Resorts/Studies. AECOM/Fransen shall promptly provide the City with copies of any environmental reports and any other studies of the physical condition of Theater Square, if any, that AECOM/Fransen causes to be prepared, or otherwise obtains with respect to Theater Square or the Project (which shall be deemed to be "Reports" in accordance with Section 5.1 above). 8. Term. The term of this Agreement will expire on the third (3rd) anniversary of the City's approval of the Approved Strategic Plan. In addition, AECOM/Fransen shall have the right to terminate this Agreement upon sixty (60) days' written notice if the City fails to pay AECOM/ Fransen within thirty (30) days following written notice any amounts then due to AECOM/Fransen hereunder. Either party may terminate this Agreement if the City rejects more than three (3) proposed disposition transactions presented by AECOM/Fransen or if AECOM/Fransen proposes but the City rejects a revised Strategic Plan proposing changes to the Approved Strategic Plan intended by AECOM/Fransen to account for weakened or otherwise changed market conditions that have occurred after the City's approval of the Approved Strategic Plan. AECOM/Fransen shall have the right to terminate this Agreement upon thirty (30) days' written notice to the City but in so doing, and notwithstanding anything herein to the contrary, waives all rights hereunder, including without limitation, all claims for a Finder's Fee or Development Fee not earned hereunder prior to delivery of such notice. Upon expiration of the term or earlier termination of this Agreement in accordance with the provisions hereof, this Agreement shall automatically cease to be of any force and effect and the City shall have no obligations to AECOM/Fransen in connection with this Agreement with respect to the subject matter hereof or as to any instruments delivered to the City, except that AECOM/Fransen shall be entitled to receive a Finder's Fee with respect to any closed transaction for the sale of the Regal Cinemas and/or a Development Fee with respect to any closed transaction for sale or lease of an interest in the Development Properties, in either such case entered into by the City prior to the 16214.001-3044102v11 7 2016-174 And The Fransen Company 410 Campus Drive, Suite 200 Newport Beach, California 92660 Attention: Mr. John Fransen With a copy to: Liner LLP 1100 Glendon Avenue, Suite 1400 Los Angeles, California 90024 Attention: Michael J. Kiely, Esq. And Crosbie Gliner Schiffinan Southard& Swanson,LLP 12750 High Bluff Drive, Suite 250 San Diego, California 92130 Attention: Craig Swanson,Esq. and Dana Schiffman,Esq. Any such notice shall be deemed received upon delivery, if delivered personally, by facsimile, or by e-mail, one day after delivery to the courier if delivered by courier, and three days after deposit into the United States Mail if delivered by registered or certified mail. 13. Agreement Limitations. The City is not, by entering into this Agreement, committing itself to or agreeing to undertake: (a) land acquisition, (b) land disposition to AECOM/Fransen, (c) land use approvals, or(d)any other act or activities requiring the subsequent independent exercise of discretion by the City or any agency or department thereof. This Agreement does not constitute an agreement by the City to exercise control over property within Theater Square. This Agreement is merely an agreement to review Reports according to the terms hereof, with all final discretion and approval to be exercised exclusively by the City's Common Council as to any Approved Strategic Plan, and all proceedings and decisions in connection therewith. 14. Miscellaneous provisions. 14.1 Governing Law and Venue. California law governs this Agreement and its provisions will be construed according to California laws. Venue for filing any action to enforce or interpret this Agreement will be San Bernardino,California. 14.2 Headings. The section headings in this Agreement are for convenience only and do not explain, modify, or add to the meaning of this Agreement. 14.3 Severability. The provisions of this Agreement are severable. The invalidity or unenforceability of any provision in this Agreement will not affect the other provisions. 14.4 City Manager to Act for City. Except to the extent otherwise required under the City Charter, City ordinances or applicable statutes or as otherwise set forth in this Agreement, the City Manager or a City employee designated by the City Manager may act on behalf of the City for the purposes of this Agreement. 14.5 Joint and Several Liability. Each of AECOM and Fransen shall be jointly and severally liable and responsible for performance by AECOM/Fransen under this Agreement. 14.6 Limitation on Liability. Except to the extent required to fulfill a defense, indemnity and hold harmless obligation as set forth in Section 6, or as may be described in the 16214.001-3044102v11 9 2016-174 Strategic Plan, neither AECOM/Fransen nor the City will be liable to the other for any punitive, indirect, special or consequential damages hereunder. 14.7 Relationship of AECOM/Fransen and City. AECOM/Fransen and each of AECOM Parent and Fransen, are independent contractors and are not agents of the City. AECOIVI/Fransen, AECOM Parent and Fransen are not partners of or joint-venturers with the City. 14.8 Interpretation. This Agreement is the result of the combined efforts of the Parties. Should any provision be found ambiguous,the ambiguity will not be resolved by construing this Agreement in favor or against any Party, but by construing the terms according to their generally accepted meaning. 14.9 Precedence of Documents. If the body of this Agreement and any Exhibit or Attachment conflict, the terms in the body of this Agreement will control. Any term or condition in any Exhibit or Attachment that purports to modify the allocation of risk between the Parties is void. 14.10 Successors and Assigns. Subject to the limitation on assignment, this Agreement is binding upon, and will inure to the benefit of all Parties, and their respective successors and assigns. 14.11 Counterparts. The Parties may sign this Agreement in counterparts, each of which when signed and delivered will be deemed an original, and all of which together will constitute one instrument. 16214.001-3044102v11 10 2016-174 IN WITNESS WHEREOF, the Parties have executed and acknowledged this Agreement on the dates and in the year set forth below. THE CITY OF SAN BERNARDINO, a California charter city By: Name: Mark Scott Title: City Manager Dated: APPROVED AS TO FORM GARY D. SAENZ, City of San Bernardino City Attorney B . Name �ale,np,Crier e; City Attorney 16214.001-3044102v 11 S-1 2016-174 AECOM/FRANSEN: AECOM TECHNICAL SERVICES, INC., a California co tion By: Name: t7 Title: Dated: / , 2016 THE FRANSEN COMPANY, INC., a California corporation By: Name: Jo n Fransen Title: President Dated: 2016 16214.001-3044102v I 1 S-2 2016-174 EXHIBIT"A" MAP OF THEATER SQUARE Exhibit ` ' - Theater ;Square Development Saes ##' - 8 ega1 Citternas e., r f f r y ff ' 3 4 5 6 2 p, g 9 1 � C13 Existing Historic ��. . #7 U? California Theater #8 - NIC W Public PlaZa gsapproy.t 26 acres 1 .. W. 411'' street THEATRE SQUARE DEVELOPMENT SERVICES AGREEMENT August 2016 16214.001-3044102v11 A-1 • 2016--174 EXHIBIT `B" DIAGRAM OF THE FORMER THEATER SPACE [to come] 16214.001-3044102v 11 B-1 2016-174 M ISO & low gow! 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