TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary to enter into an agreement with The Boeing Company, to accept a one-time cash payment of $2,797,879.50 for the improvement of the Cherry Avenue and San Diego Freeway (I-405) intersection, to allow the City of Long Beach to construct improvements as required by the Douglas Park Development Agreement in lieu of the Boeing Company; and
Increase appropriations in the Capital Projects Fund Group in the Public Works Department by $2,797,879.50, offset by funds received from the Boeing Company for the Improvement of the Cherry Avenue/405 Intersection. (District 5)
DISCUSSION
City Council approval is requested to enter into an Agreement with the Boeing Company and increase appropriation in the Capital Project fund to allow the City of Long Beach (City) to construct improvements of the Cherry Avenue/405 intersection as required by the Douglas Park Development Agreement in lieu of the Boeing Company.
On December 14, 2004, the City Council approved Agreement 29232, the Development Agreement with McDonnell Douglas Corporation, for development of the former McDonnell Douglas manufacturing plant. McDonnell Douglas then expired as a legal entity, being purchased and subsumed by the Boeing Company. Subsequently, on May 4, 2010, the City Council approved the Amended & Restated Development Agreement 31625. Exhibit F under Agreement 31625 defined the improvements required of Boeing to ameliorate the increased traffic generated by the development. Condition of approval No. 140 requires compliance with the “Transportation Improvements and Phasing Program (TIPP)” (Attachment A). Pursuant to the TIPP (Exhibit F under Agreement 31625), The Boeing Company is required to make improvements to the intersection of Cherry Avenue and the San Diego Freeway (I-405) prior to exceeding a peak trip limit per item number MM-V.L-17. The PacifiCenter (Douglas Park) Program Environmental Impact Re...
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