|
Proposed Developer Agreement Another End-Run by City Council/RDA
On Tuesday, August 16, 2005, another important change in the redevelopment process of Town Center will be decided by the City Council/Redevelopment Agency.
In the Executive Directors Report released on Thursday, August 11, 2005, the staff is recommending that the Yorba Linda Redevelopment Agency/City Council, approve the First Amendment to the ENA (Exclusive Negotiating Agreement) with OTYLP (Old Town Yorba Linda Partners, LLC). (Report Link )
According to the report: "One of the key provisions of the ENA is the requirement for the developer to submit, and for the Agency to approve, a conceptual development plan upon which all subsequent feasibility studies (engineering, traffic and parking, marketing, financial, etc.) would be based."
But the staff is proposing to collapse the various remaining ENA performance milestones (financial feasibility, entitlement plan, project schedule) into the final development proposal due date of December 2, 2005.
The report goes on to state that: "Staff is confident that since OTYLP must submit an acceptable development proposal by December 2nd, the information and data covered under these due diligence milestones will be thoroughly studied and shared with Agency staff with sufficient time to make any necessary changes."
As an alternative: "If the Agency wishes to maintain dates-certain for the various performance milestones, the final development proposal due date of December 2, 2005 may need to be extended."
So, what's the rush?
- Should the agency take the chance that developer might not share all of the information and data with the agency staff so they have sufficient time to make any necessary changes?
- Should the public be left out of the process by eliminating the performance milestones that were established back in January 2005?
- Why not wait for the completion the environmental assessment to identify conditions that might affect development as was originally proposed?
- Why not evaluate the developers financial feasibility plan, which will show there is a market for planned residences and retail space as was originally proposed?
- Why not see a proposed project schedule, which will include timelines for everything from grading streets to renting store spaces as was originally proposed?
These are questions that require answers by the City Council/Redevelopment Agency.
|
