TITLE
Recommendation to receive supporting documentation into the record, conclude the public hearing, and adopt resolution making certain findings and approving and authorizing the Executive Director of the Redevelopment Agency to execute a Disposition and Development Agreement with Paul Allen Collins, dba PAC Design. (District 1)
DISCUSSION
Redevelopment Agency (Agency) staff has concluded the negotiation of a Disposition and Development Agreement (Agreement) with Paul Allen Collins, dba PAC Design (Developer) for the sale and development of Agency-owned property located at 1881-1891 West 16th Street (Site), commonly known as Assessor Parcel Number 7432-001-042 (Exhibit A). The Site is located in the West Long Beach industrial Redevelopment Project Area (Project Area).
PAC Design has been in business in the Westside Project Area for over 14 years. The Developer proposes to build a 2,507 square foot, two-story office and warehouse building. The proposed development will have the required landscaping and on-site parking for employees and clients. The Developer currently has one employee and the proposed expansion will create two additional jobs.
The Agreement includes the following major provisions:
*Under the terms of the Agreement, the Developer will pay the Agency $14.75 per square foot, or $56,817, as compensation for the approximately 3,852 square foot Site.
*The Developer will utilize the Site in accordance with the West Long Beach Industrial dedevelopment Plan and all applicable City codes and regulations including providing appropriate landscaping, screening and parking.
*An Agreement Containing Covenants will be recorded at closing. This document will prohibit certain uses, describe maintenance responsibilities and levels of maintenance, and require that any future improvements be subject to the Design Guidelines for the Project Area.
*If the Developer does not close escrow within 12 months of the date of the Disposition and Development Agreemen...
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