REDEVELOPMENT AGENCY
OF THE CITY OF SANTA ROSA
NOTICE of SPECIAL MEETING
TUESDAY, JUNE 29, 2010 AT 5:00 P.M.
COUNCIL CHAMBER, CITY HALL,
100 SANTA ROSA AVENUE, SANTA ROSA
NOTICE IS HEREBY GIVEN that the Redevelopment Agency of the City of Santa Rosa will hold a Special Meeting on Tuesday, June 29, 2010, starting at 5:00 p.m. in the Council Chamber, City Hall, 100 Santa Rosa Avenue, Santa Rosa, California. The purpose of the meeting is to hold a Joint Public Hearing to consider and act upon the sale and development of certain real property pursuant to a proposed Disposition and Development Agreement (DDA) between the Agency and Museum on the Square, LLC (Developer) to be approved by the Agency and City Council. The Agenda for the meeting is:
5:00 p.m.
AGENDA
1. CALL TO ORDER AND ROLL CALL OF REDEVELOPMENT AGENCY MEMBERS
2. CITIZEN PUBLIC APPEARANCES (PUBLIC COMMENTS WILL BE LIMITED TO TOPIC OF THE SPECIAL MEETING)
BACKGROUND: The former AT&T building has been vacant for over 15 years. The Redevelopment Agency purchased the site to mitigate physical and economic blighting influences; prevent a speculative purchase and potentially incompatible uses; and to control and plan for the long term use of the building to benefit the downtown area.
Redevelopment of the AT&T site as a mixed-use, infill project meets Redevelopment objectives, Council goals and the Economic Development Strategy because it reduces physical and economic blighting influences; promotes additional cultural, employment, residential and economic activity downtown; helps reduce carbon generation as evidenced by the expectation that the building will achieve LEED Gold status; and provides new jobs and residential units with access to various modes of alternative transportation.
The Disposition and Development Agreement (DDA), which requires approval by both the Agency and Council, provides the terms and conditions under which the Agency will sell the Site to the Developer for the development of the project.The Project is estimated to generate net revenue to the Agency of approximately $400,000; net revenue to the City over a 10-year period of approximately $1.2 million; annual, local private-sector economic activity of about $68 million; and 784 jobs of which 523 are long term jobs and 261 are construction related jobs.
RECOMMENDATION: It is recommended by the Department of Economic Development and Housing that the Council and Agency, by resolutions, approve the Disposition and Development Agreement with Museum on the Square, LLC, for the sale and redevelopment of the Site, located at 520 Third Street.
5. ADJOURNMENT
No other business will be considered at this Special Meeting.
Dated: June 23, 2010 Susan Trinkler, Administrative Secretary
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The City of Santa Rosa does not discriminate on the basis of disability in the admissions or access to, or treatment of or employment in, its programs or activities. Disability-related aids or services, including printed information in alternate formats, to enable persons with disabilities to participate in public meetings and programs are available by contacting the Economic Development and Housing Administrative Secretary at (707) 543-3300 one week prior to the meeting/program. |
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