AgdaPkt 2003-03-24 - Laserfiche WebLink

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SA I REPORT To the Redevelopment Agency From the Executive D March 24, 2003 Subject Hearing for the Relocation Plan for the Downtown Underground Public Parking Garage and the Retail- Cinema Project and appropriate funds for the relocation Recommendation Approve the Relocation Plan dated February 2003 and authorize the Redevelopment Agency to proceed with the relocation efforts and to provide relocation assistance to all tenants in the project area as well as the single owner /occupant. Approve by resolution the appropriation of funds (approximately $1.015 million) necessary to provide relocation assistance from the Redevelopment Agency budget. These funds are part of the $20 million loan from the City to the Agency to be paid back to the City from a future Redevelopment Agency bond issuance. Background On December 9, 2002, the City Council and Redevelopment Agency approved an Amended and Restated Disposition and Development Agreement (DDA) with BHV Innisfree Ventures I LLC for development of a proposed downtown retail- cinema project. Per the Schedule of Performance contained in the DDA, the Agency has begun the site assembly process. As required by the State of California Redevelopment Law, a Relocation Plan (attached) has been prepared by Pacific Relocation Consultants (PRC), the Agency's consultant for this project, to assist those businesses currently located in the project area. This report dated February 2003 contains an assessment of the needs of these businesses. The project area boundary is as follows: • Retail- cinema site — 2100 block of Broadway bounded by Broadway, Jefferson, and Middlefield Road (referred to as Block One) The businesses located in this block are contained within six (6) parcels. The six parcels are as follows: 052 - 366 -010 2117 -2121 Broadway 052- 366 -040 860 Jefferson Ave. 052- 366 -050 870 Jefferson Ave. 052 - 366 -060 878 Jefferson Ave.