17-0516_SOUTH COAST INVESTORS II, LLC_D2_PowerPoint PresentationPLAZA BANDERAS HOTEL
DEVELOPMENT AGREEMENT
AMENDMENT - DA 17 -001
City Council
Applicant
Jake Griffith
South Coast Investors II, LLC
1 May 16, 2017
City Council
REQUESTED ACTION
May 16, 2017 2
A Request from South Coast Investors II, LLC
to extend the term of the current Plaza
Banderas Hotel Project Development
Agreement 1 year from August 3, 2017 to
August 3, 2018.
City Council
PLAZA BANDERAS PROJECT LOCATION
May 16, 2017 3
City Council 4
2011 APPROVED PLAZA BANDERAS PROJECT
•Hotel Building -124 Rooms
•Restaurant Building
•Retail/Office Building
•Parking/Landscaping
May 16, 2017
City Council 5 May 16, 2017
2011 APPROVED PROJECT - Hotel
City Council 6 May 16, 2017
2011 APPROVED PROJECT – Office/Retail
City Council 7 May 16, 2017
2011 APPROVED PROJECT – Restaurant
City Council 8 May 16, 2017
PROJECT BACKGROUND
•October 5, 2010 - City Council approved Plaza
Banderas Hotel Project
•July 5, 2011 - City Council approved project DA with
an original 5-year term
•June 2, 2015 - City Council approved DA assignment
from Stroscher G3, LLC to South Coast Investor II, LLC
•May 17, 2016 – City Council approved one-year
extension to DA
City Council 9 May 16, 2017
DEVELOPMENT AGREEMENT SUMMARY
•Extends Validity of Project Entitlements
and related Project EIR.
•Freezes Development Impact Fees to 2011
rates .
•Provides City with Easement Interest for
Parking Lot Air Parcel
•Provides no other mitigation
measures/exactions beyond those
identified in project EIR.
City Council 10 May 16, 2017
PROJECT STATUS
•December 2015 – Applicant submits “Inn at the
Mission” project applications.
•September 2016 - Applicant withdraws “Inn at
the Mission” project applications.
•2016 – Plaza Banderas Rough Grading permit
issued by City. Rough Grading generally
complete.
•April 2017 - Applicant informs City that plans
for Plaza Banderas Hotel project with internal
modifications will be submitted soon.
City Council 11 May 16, 2017
IF DEVELOPMENT AGREEMENT IS NOT EXTENDED:
•Hotel Entitlements would become null and
void.
•Easement Interest for Parking Lot Air Parcel
would become null and void.
•Proposed Hotel Project would have to submit
new applications and proceed through new
entitlement process with possibly new CEQA
analysis required.
•New project would be subject to current
Development Impact Fees.
City Council 12 May 16, 2017
PLANNING COMMISSION RECOMMENDATION
On April 25, 2017, the PC recommended that
the City Council:
•Grant the requested 1-year extension as a
second amendment to the DA
•Find that said DA amendment is consistent
with the previously certified Project EIR
City Council 13 May 16, 2017
Questions