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610-1 REPOR To the Honorable Ma for and City Cound �� a Re r A Y n ee o ment Agenc_ y ir Board 101i' m A& "[ =k A F 11 VG T b of A . May 12, 2003 Subject . Pre - Construction Design Services and Reimbursement Agreement for Underground Public Parking Structure in the Downtown area and appropriation of funds for those services. Recommendation That the City /Agency approve a Pre - Construction Design Services and Reimbursement Agreement with BHV Innisfree Ventures I, LLC, developers of the Downtown Retail - Cinema project, for design of an underground public parking garage beneath the retail - cinema project and authorize the City Manager and the Redevelopment Agency Executive Director to execute same. That the Agency approve by resolution the appropriation of $650,000 for the pre - construction design services for the underground public parking garage from the Redevelopment Agency budget. These funds are part of the $20 million loan from the City to the Agency that will be paid back 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 and an underground public parking garage. (Executed on January 8, 2003) The project includes a two -level underground public parking garage to be located on Block One directly beneath the retail- cinema building and projecting under a portion of Middlefield Road. The ground floor of the project will include retail stores and restaurants and the second floor will contain the cinema multiplex. The components of the project (the retail space, the cinema multiplex, and the underground garage) are integrally related structurally and physically, and it would be impractical and uneconomical to design and build them separately. For that reason, the Developer will manage the garage design on behalf of the City and will construct the garage as an integral part of the larger retail- cinema project. Per the terms of the DDA, Section 518 D., City/Agency staff and the Developer have agreed on a Pre - Construction Design budget (refer to Exhibit C in the Agreement) and propose to enter into the attached agreement for this phase of the project. The Agreement - provides for reimbursement of those pre - construction design services set forth in Exhibit A and authorizes the City Manager and Executive Director to make minor non - substantive F:\REDEV\preconstructiondesignstaffreport4.28.03.doc