AgdaPkt 2003-08-11 - Laserfiche WebLink

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REPORT To the Honorable Mayor and City Council And the Redevelopment Agency Board From the City Manager and the Executive Director August 11, 2003 Subject Construction and Reimbursement Agreement for site clearing to begin Underground Public Parking Garage in the Downtown area. Recommendation Authorize the City Manager and the Redevelopment Manager to execute a Construction and Reimbursement Agreement (the Site Clearing Agreement) with BHV Innisfree Ventures I, LLC, developers of the Downtown Retail- Cinema project, for abatement and demolition of existing buildings and coordination of utility relocations. 2. Appropriate $1.22M for the above from the $20M loan from the City to the Agency which will be paid back to the City from the Redevelopment Agency's bond as part of the Downtown Funding Plan. 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. The project includes a two -level underground public parking garage to be located 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 floorwill contain the cinema multiplex. The design and construction of the underground public parking garage is integrally related to the design and construction of the retail- cinema project directly above it and therefore it is structurally and physically impracticable to construct the two projects separately, and it is more economical to have the developers construct the public parking garage as part of the Developer's project. For this reason, this work need not be competitively bid. However, the project will be subject to the payment of prevailing wages. The City has been in the process of acquiring the properties in the block and relocating the existing tenants. That process is also nearing completion and the site will shortly be ready to be prepared for the garage excavation. F:Atty /CD /Agenda.Garage Constr & Reimb. 1