HomeMy WebLinkAbout09/05/2001 AGENDA PACKET JOINT NOTICE AND AGENDA
OF
BAKERSFIELD CITY COUNCIL
AND
BAKERSFIELD REDEVELOPMENT AGENCY
JOINT SPECIAL MEETING OF SEPTEMBER 5, 2001
Council Chambers, City Hall, 1501 Truxtun Avenue
Special Meeting - 7:00 p.m. or as soon thereafter.
SPECIAL MEETING
1. ROLL CALL
2. PUBLIC STATEMENTS
3. HEARINGS
a. Amendment No. 1 to City Center Disposition and Development Agreement No.
01-088/RA 01-04
Staff recommends approval of the amendment.
4. ADJOURNMENT
Respectfully submitted,
Alan Tandy
City Manager
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August 31. 2001 (10 43am)
ADMINISTRATIVE
REPORT
I MEETING DATE: September 5, 2001 I AGENDA SECTION: Hearings
ITEM: 3. a.
TO: Honorable Mayor and City Council
Bakersfield Redevelopment Agency APPROVED
/~.~
FROM: Alan Christensen, Assistant City Manager DEPARTMENT HEAD
DATE: August 27, 2001 CITY ATTORNEY
CITY MANAGER
SUBJECT: Amendment #1 to City Center Disposition and Development Agreement 01-088/RA 01-04
RECOMMENDATION: Staff recommends approval of the amendment.
BACKGROUND:
At the August 22"4 City Council Workshop, City Manager Alan Tandy reported on the status of the City
Center (Riverwalk Plaza) project. He stated that under the Disposition and Development Agreement
(DDA), the City and the Developer have to perform certain goals in order for the project to continue moving
forward. To date the City has completed the Environmental Impact Report (EIR) on the project, amended
the Southeast Project Area Redevelopment Plan, obtained a guaranteed maximum price from HOK, and
established financing mechanisms. The Developer has completed their marketing plan, completed anchor
tenant leases, and hired HOK to design common areas to be compatible with the stadium project.
Several tasks have yet to be completed by the City and the Developer. The City is currently working to
secure a lease with the baseball franchise. While there is no guarantee that the lease will be obtained,
there is reason for optimism. Both the California League and the prospective owner of the team are
keeping the latest news regarding the transfer of ownership close to the belt, so we don't have a specific
date for anticipating an executed lease. Our goal remains to bring the lease in by September 8th.
The City's property acquisitions are advancing; however, we had not expected to acquire all the necessary
property before September 8, 2001. We have signed one contingent deal and are in discussions with
many property owners in the area. Execution of a baseball lease would provide more confidence for the
property owners that the project will be built, and move property negotiations along more quickly.
The developer has yet to obtain financing for the private elements of the project. The lender recently
contacted us and stated that they will not complete processing the loan application until a baseball lease
is in the packet. The lender indicates that the loan is moving forward positively and a preliminary loan
commitment may only be a few weeks away. The Developer is also responsible for property acquisition,
which again is expected to move quickly once a baseball lease is obtained.
August 29, 2001, 10:17am
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ADMINISTRATIVE REPORT Page2
Staff is aware that a continued period of uncertainty is a source of discomfort to property owners in the
affected area. We are working with the developer to devise a plan that will minimize that as much as
possible. A summary of a presentation made by the City Manager to the City Council at a workshop on
August 22, 2001 is enclosed for your information.
Staff's recommendation is to grant a 90-day extension of the performance period by amending the City
Center DDA so that the above-mentioned tasks can be accomplished.
This item is a publicly noticed hearing. All property owners and tenants in the City Center project area
were noticed.
August 29, 2001, 10:17am
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