ACTION ITEM
SPONSOR: Jewel Cannada-Wynn, Chairperson
SUBJECT:
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EXTENSION OF PLAN SUBMISSION DEADLINE - 150 S. BAYLEN STREET
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RECOMMENDATION:
recommendation
That the Community Redevelopment Agency (CRA) grant an extension of the deadline to submit plans for the redevelopment of the property at 150 S. Baylen Street, by Studer Properties, LLP. from August 31, 2019 to February 29, 2020. Further, that the CRA Chairperson be authorized to execute all necessary documents.
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SUMMARY:
On April 10, 2017, the CRA approved the award of a contract for the sale of surplus property at 150 S Baylen Street to Studer Properties, LLP. The property was sold for at its appraised value of $510,000. The Special Warranty Deed which conveyed the property included a requirement that Studer Properties submit its plans for redevelopment of the site to the CRA by August 31, 2019.
Since acquiring the Baylen Street property in 2017, Studer Properties, LLP has undertaken and completed several major transformative real estate development projects in the Urban Core CRA. These projects have required significant time and focus.
Studer Properties intends to move forward with planning for the Baylen Street property but is willing to sell it back, should the CRA desire to have it. It is the recommendation of CRA staff that an extension of the deadline for submission of plans for this property be granted through February 29, 2020.
PRIOR ACTION:
December 5, 2016 - The CRA declared the property at 150 S. Baylen Street surplus.
December 23, 2016 - A 30 day Notice of Property Disposition/RFP was published.
January 22, 2017 - A purchase offer of $510,000 was received from Studer Properties, LLP.
April 10, 2017 - The Community Redevelopment Agency awarded a contract for sale of 150 S. Baylen Street to Studer Properties, LLP.
April 13, 2017 - City Council approved the contract for sale of 150 S. Baylen Street to Studer Properties, LLP.
FUNDING:
NA
FINANCIAL IMPACT:
None
CITY ATTORNEY REVIEW: Yes
7/18/2019
STAFF CONTACT:
M. Helen Gibson, AICP, CRA Administrator
Victoria D’Angelo, Assistant CRA Administrator
ATTACHMENTS:
1) Special Warranty Deed
2) Map-150 S. Baylen
PRESENTATION: No end