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,AI <br /> REPORT <br /> To the Redevelopment Board <br /> From the Executive Director <br /> <br />August 26, 2002 ~ <br /> <br />Subject <br />Downtown Retail-Ci.nema Project - Selection of Consultant to Provide Land Acquisition <br />and Other Related Real Estate Services and selection of eminent domain counsel. <br /> <br />Recommendation <br />Approve the agreement with Cutler & Associates to provide consulting services for the <br />Downtown Retail-Cinema Project with a budget not-to-exceed $337,000 and authorize the <br />Agency Executive Director to execute the agreement. The services will include property <br />valuation, negotiations, fixtures and equipment appraisals, tenant acquisition, loss of <br />goodwill procedures, escrow coordination, relocation coordination, and title clearance for <br />the project. <br /> <br />Authorize inclusion of the Law Offices of Herman H. Fitzgerald on the Redevelopment <br />Agency eminent domain attorney panel..Approve the agreement with the Law Offices of <br />Herman H. Fitzgerald to provide eminent domain counsel services for the Downtown <br />Retail-Cinema Project and authorize the Agency General Counsel to execute the <br />agreement. <br /> <br />Background <br />At the joint meeting of the City Council and the Redevelopment Agency Board on January <br />29, 2001, the Council and Agency Board approved a Disposition and Development <br />Agreement (DDA) with Western Innisfree Ventures, now known as BHV Innisfree Ventures <br />I, LLC, developers of the proposed Downtown Retail-Cinema project. <br /> <br />The project consisted of a proposal to redevelop two blocks in the Downtown area. Block <br />One, bounded by Broadway, Jefferson Ave., and Middlefield Road, included approximately <br />80,000 square feet of retail on the ground floor and a multiplex cinema on the second floor <br />wit'h 4200 §eats in20 auditoriums. <br /> <br />'Block Two, bounded by Winslow, Middlefield, Jefferson, and the Railroad tracks, was <br />proposed to have a 110,000 square foot office building with a multi-level parking structure <br />containing approximately 1000 parking spaces. <br /> <br /> In the present economy, the approved project (Alternative 4 of the Certified Final <br /> Environmental Impact Report) is no longer feasible. The developer proposes to amend the <br /> DDA by bifurcating Blocks One and Two. The intent is to proceed with development of <br /> Block One with the retail and cinema as planned, but with the possible addition of an <br /> underground parking garage. Block Two would remain undeveloped but with surface <br /> parking spaces and would no longer be part of the DDA. <br /> <br /> 1 <br /> <br /> <br />