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