AgdaPkt 2002-12-09 - Laserfiche WebLink

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�• � "� ._ Board on this project We will consider four resolutions. The first deals with the Addendum to the Environmental Impact Report (EIR). The seoond deals with the Summary Report and Reuse Valuation Study (discussed at more length following) and involves action by us as the City Council alone. The third and fourth resolutions deal with the new Disposition and . Development Agreement being presented to the Council and Redevelopment Agency tonight (formally entitled the Amended and Restated Disposition and Development Agreement (DDA)). This report will refer to this as the Amended DDA from this point. 1. [COUNCIL & REDEVELOPMENT BOARD ACTION] Approve by resolution the Addendum to the Environmental Impact Report (State Clearinghouse No. 2000032017) dated November 2002. 2. [COUNCIL ACTION] Review and consideration of the resolution approving the document entitled, "Summary Report Pursuant to Section 33433 of the Community Redevelopment Law on The Amended and Restated Disposition and Development Agreement by and Between the Redevelopment Agency of the City of Redwood City, the City of Redwood City, and BHV Innisfree Ventures I, LLC., a Califomia Limited Liability Company" (Summary Report). This action does not constitute approval of the Amended DDA. See the next recommendation for this action. 3. [COUNCIL & REDEVELOPMENT BOARD ACTION] Review and considera6on of two resolutions — one by the City, one by the Agency — that approve the Amended DDA and authorize execution of the DDA for the project. Action One: Approve the Addendum to the EIR The prior DDA approved in January 2001 involved development on two blocks. The proposal before the Board and Council now only involves one block. Since the scope of the project has narrowed and no new significant impacts will be created, the Califomia Environmental Quality Act permits the approval of an Addendum to the original EIR, reflecting the changed project scope. This Addendum deals with changes to traffic and parking issues as a result of this change in the Project. The Planning Commission has reviewed this Addendum and recommended it to the City Council and Redevelopment Board. Action Two: Background on the Summary Report Whenever a Redevelopment Agency proposes to sell or lease land purchased with tax increment funds, the Agency must make a report to the City Council as the legislative body of the City. The City Council must consider this Summary Report before the Council and the Agency Board take action on the amended DDA. This proposed project invoives conveyance of an air rights interest in land purchased with tax increment funds (the Way- to-Go parcel) and so a Summary Report has been prepared. This Summary Report and related Reuse Valuation Study were prepared by Keyser - Marston — the Redevelopment Agency's economic consultant. The Summary Report 2