HomeMy WebLinkAboutR07-Redevelopment Agency
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. R~VELOPMENT AGENCY.~ST FOR ~/COUNCIL A~ION
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From:
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Glenda Saul, Executive Director
Subject:
AMENDMENT TO DDA - DARMOR SC
Redevelopment Agency
Date: November 22, 1985
Synopsis of Previous Commission/Council action:
2/6/84 Resolution 4577 Approved DDA
3/7/85 Approval, in concept, of amendment to DDA
5/13/85 Resolution 4762 approved amendment to DDA providing for acquisition of
additional project
6/17/85 Resolution 4769 approved amendment to DDA substituting Darmor as
developer
Recommended motion: (Mayor and Common Counc i1) )
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Approve, in concept, a third amendment to the Disposition and Joint Development
Agreement and Darmor, a California general partnership
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Signature
Contact person:
Glenda Saul
Supporting data attached:
YES
Phone:
5
383-5081
Ward:
FUNDING REQUIREMENTS:
Amount: $
30,000
SC
Projact:
O December 2, 1985
ate:
No adverse Impact on City:
CCil Notes:
0848K/OJ 1-
Agenctl.2(~/r{l~0. R-
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. CICt OF SAN BERNARDOo - REQUOT FOR COUNCIL AcQON
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STAFF REPORT
In February of 1984, the Agency entered into a Disposition and Joint Development
Agreement with Dan Evans, Keith Harwood and Western Communities Association for
the development of approximately 150 apartment units. The agreement has been
amended twice - once to provide for Agency acquisition of City-owned land and sale
to the developers, and once to change the developer's name to Darmor.
As conditions of the DDA, the developers were required to maintain the 100-foot
strip along University Parkway as open space, and to obtain the University's
approval of their development plans.
Upon initial review by the University, the plans were disapproved, as the
developer had planned to construct covered parking and access roads within a
portion of this area. The University maintains that under the original agreement
with the City and the University, this 100-foot strip was required to be
maintained as open, landscaped space. As a compromise approach, the developers
have offered to donate a .99-acre site on Northpark boulevard to the University.
The site has no value to the planned development and would be especially difficult
to develop alone because of the size and accessibility.
The University has agreed to accept this compromise and to aSSume maintenance of
the parcel, provided the landscaping and irrigation are installed. The added
cost of these improvements make the project infeasible.
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The Summary of Financial Aspects, prepared in April 1985, shows the Agency to be
realizing a net profit of 499,480 from this project, in addition to an estimated
475,000 in tax increment. Based on this information, the Redevelopment Committee
recommended, at its meeting on November 21, 1985, that the Agency reimburse the
developer $30,000 towards the cost of the installation of the landscaping
improvements.
Staff recommends the commission approve, in concept, a third amendment to the
Disposition Agreement providing for this reimbursement and instruct staff and
Agency Counsel to prepare the appropriate documents for approval.
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75-0264
0848K/OJ
12/2/85
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