TITLE
Recommendation to authorize City Manager to execute any and all documents necessary to remove the City of Long Beach as the Successor Agency to the Redevelopment Agency of the City of Long Beach as a responsible party to the Parking Rights Agreement, dated September 21, 2001, between Coventry Long Beach Plaza, LLC, the City of Long Beach and the Redevelopment Agency of the City of Long Beach. (District 1)
DISCUSSION
In September 2001, the former Redevelopment Agency (Agency), the City of Long Beach (City) and Coventry Long Beach Plaza, LLC entered into a Parking Rights Agreement (Agreement) as part of the larger CityPlace development. The Agreement provides for a certain number of parking spaces within City-owned parking garages to be reserved for retail shoppers to park while visiting CityPlace. The Agency was a party to the Agreement only in that it was obligated to provide replacement parking for these retail visitors should a casualty occur to any of the City-owned garages. With the dissolution of the Agency and the ongoing winding down of its activities, the Successor Agency does not have alternative parking available. The Successor Agency may terminate existing contracts to facilitate the winding down process pursuant to Health and Safety Code Section 34171(d)(1)(E). This action removes the Successor Agency from the Agreement.
This matter was reviewed by Deputy City Attorney Richard F. Anthony on April 13, 2015, and by Budget Management Officer Victoria Bell on April 16, 2015.
TIMING CONSIDERATIONS
Successor Agency action is requested on May 5, 2015, to enable the Oversight Board to take action on May 11, 2015, in furtherance of the dissolution of the Agency.
FISCAL IMPACT
There is no fiscal impact associated with this action.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
AMY J. BODEK, AICP
DIRECTOR OF DEVELOPMENT SERVICES
APPROVED:
PATRICK H. WEST
CITY MANAGER