TITLE
Recommendation to receive the supporting documentation into the record; conclude the public hearing; adopt resolution making certain findings; and approve and authorize City Manager to execute a Disposition and Development Agreement with Willmore City Heritage Association. (District 1)
DISCUSSION
Redevelopment Agency (Agency) staff has concluded the negotiation of a Disposition and Development Agreement (Agreement) with Willmore City Heritage Association (Developer) for the sale and development of Agency-owned property located at 419-421 Daisy Avenue (Site), commonly known as Assessor Parcel Numbers 7278-025-904 and 7278-025-906 (Exhibit A - Site Map). The Site is located in the Central Long Beach Redevelopment Project Area (Project Area) and was acquired by the Agency at a cost of $99,110.
Under the terms of the Agreement, the Developer will pay the Agency $1.00 for each of the two parcels comprising the 5,490-square foot Site. The Developer will relocate the 2,000-square foot historic home that was previously located at 249 Maine Avenue, on the Cesar Chavez School site, and is currently situated at 624 West Third Street. The Developer will renovate the house in its new location at 419-421 Daisy Avenue, within the Drake Park/Willmore City Historic District, add a two-car garage, and re-sell the restored property. The Agency will receive any profit from the re-sale after the Developer recoups all expenses and a profit of $25,000. The Developer has provided evidence of financing for the development of the Site.
The Cultural Heritage Commission reviewed the Developer's proposal on August 17, 2005 and issued a Certificate of Appropriateness. The Redevelopment Agency Board approved the Agreement on December 12, 2005.
The City's Environmental Planning Officer has determined that the project contemplated by the Agreement qualifies for a Categorical Exemption under the California Environmental Quality Act (Exhibit B - Categorical Exemption).
Since the prope...
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