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11-0118_STROSCHER G3 LLC_PowerPoint Presentation Plaza Banderas Development Agreement January 18 , 2011 civic Mutual B BENEFITS TO THE CITY BENEFITS TO THE PROJECT $850,000 PER YEAR IN TAX REVENUES ENTITLEMENTS VESTED FOR 7 YEARS $1 ,200,000 IN IMPACT & PERMIT FEES HOTEL FEE REDUCTION VALID FOR 2 YEARS STIMULUS FOR THE DOWNTOWN FINANCE UNDERGROUNDING THRU A UTILITY DIST RIGHTS TO BUILD A PARKING STRUCTURE CITY SUPPORT ORTEGA ACCESS RECONSTRUCTION IDEAL LAND USE FOR THE PROPERTY UNUSED RIGHT OF WAY GIVEN BACK TO PROPERTY PROJECT ARCHITECTURAL STYLE & DESIGN I SOLUTIONS Mutual Obligations & Costs CIN OBLIGATIONS PROJECT OBLIGATIONS CONSTRUCT WATER INFRASTRUCTURE DEDICATE AIRSPACE FOR PARKING STRUCTURE REVERSION OF EXCESS RIGHT OF WAY CONFORM TO CITY GENERAL PLAN CREATE UNDERGROUNDING UTILITY DISTRICT CONFORM TO CITY DEVELOPMENT STANDARDS SUPPORT ORTEGA ACCESS BY CALTRANS CITY EXPENSES PROJECT EXPENSES $1 ,000,000 TO PROVIDE INFRASTRUCTURE $1,200,000 IN IMPACT & PERMIT FEES $600,000 IMPACT FEES TO OTHER AGENCIES C I V I C SOLUTIONS Summary • The Cry's obligations are normal fora city government ✓ Provide infrastructure to support the project ✓ Establish reasonable fees and costs ✓ Keep the rules from changing during project development ✓ Establish fair share for capital improvement projects • The applicant is not requesting anything more than fairness ✓ Will pay all fees now in effect ✓ will satisfy City design requirements ✓ will receive excess land previously given up for right of way IVIG SOLUTIONS