TITLE
Recommendation to receive supporting documentation into record, conclude the public hearing, and adopt resolution making certain findings and approving and authorizing City Manager to execute a Disposition and Development Agreement with Long Beach Transportation Company. (District 2)
DISCUSSION
Redevelopment Agency (Agency) staff has concluded the negotiation of a Disposition and Development Agreement (Agreement) with Long Beach Transportation Company
(Developer) for the sale and development of Agency-owned property located at 110 East First Street (Site), commonly known as Assessor Parcel Numbers 7280-028-91 3 and 7280-029-914 (Exhibit A - Site Map). The Site is located in the Downtown Long Beach Redevelopment Project Area (Project Area). The subject property was originally purchased by the Agency in 1987 as part of a larger parcel, the majority of which was used to widen First Street to accommodate
construction of the transit mall in Downtown Long Beach. As a result, the Agency was left with a remnant parcel of land of unusual dimensions. Given its location on a prominent corner of Downtown Long Beach, immediately adjacent to the City's main transit mall, the oddly shaped site is an ideal location for a new transit and visitors' information center. This is consistent with the Downtown Redevelopment Plan and will also provide a valuable transportation and information amenity to visitors, employees and residents of the downtown area. Under the terms of the Agreement, the Developer will pay the Agency $1.00 for the approximately 2,670-square foot site. In addition, the Long Beach Transportation Company will transfer ownership of the current Transit Center building, located at 243
First Street, to the Agency. That building will be used as the new home for the Long Beach Bikestation, which compliments the other transit operations along the First Street corridor.
The new Transit and Visitor Information Center (Center) will be a 1,900-square foot facility th...
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