ACTION ITEM
SPONSOR: Jared Moore, Chairperson
SUBJECT:
title
APPROVAL OF PLAN SUBMISSION - 150 S. BAYLEN STREET
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RECOMMENDATION:
recommendation
That the Community Redevelopment Agency (CRA) approve the plans submitted for redevelopment of the property at 150 South Baylen Street, by Studer Properties, LLP.
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SUMMARY:
On April 10, 2017, the Community Redevelopment Agency (CRA) approved an award of a contract for the sale of surplus property at 150 South Baylen Street to Studer Properties, LLP. The property was sold 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 the redevelopment of the site to the CRA by August 31, 2019. The deed also allowed for an extension for a period of up to one (1) year from the original deadline for this submission.
During its August 5, 2019 meeting, the CRA approved an extension of the plan submittal deadline, at the developer’s request, for a period of approximately six (6) months through February 29, 2020. Due to the level of activity of Studer Properties on other major transformative real estate development projects in the Urban Core redevelopment district, an additional six month extension was requested and granted through August 31, 2020.
The required plans were timely submitted to CRA staff on August 24, 2020. The CRA is asked to approve said plans.
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 the sale of 150 S. Baylen Street to Studer Properties, LLP.
April 13, 2017 - City Council approved the contract for the sale of 150 S. Baylen Street to Studer Properties, LLP.
August 31, 2017 - The Special Warranty Deed, which conveyed the property, was entered.
August 5, 2019 - The CRA approved an extension to the plan submittal deadline through February 29, 2020.
February 29, 2020 - The CRA approved an extension to the plan submittal deadline through August 31, 2020.
FUNDING:
N/A
FINANCIAL IMPACT:
None.
CITY ATTORNEY REVIEW: Yes
9/21/2020
STAFF CONTACT:
Kerrith Fiddler, Deputy City Administrator - Community Development
M. Helen Gibson, AICP, CRA Administrator
Victoria D’Angelo, Assistant CRA Administrator
ATTACHMENTS:
1) Plan Submittal-150 S. Baylen Street
2) Location Map
3) Special Warranty Deed
PRESENTATION: Yes end