TITLE
Recommendation to receive supporting documentation into the record, conclude the hearing, and adopt resolution making certain findings; and authorize City Manager to execute a Disposition and Development Agreement with Glenn Dobbs, for the development of 2025 W. 17th Street. (District 1)
DISCUSSION
Redevelopment Agency (Agency) staff has concluded the negotiation of a Disposition and Development Agreement (Agreement) with Glenn Dobbs (Developer) for the sale and development of Agency-owned property located at 2025 West 17th Street (Site), commonly known as Assessor Parcel Number 7429-026-900 (Exhibit A). The Site is located in the West Long Beach Industrial Redevelopment Project Area (Project Area).
The Developer's family owns a Westside equipment motor and engine construction and maintenance company that has been a Westside business since 1948. For over 30 years, the Developer has owned the two adjacent properties on the east and west of the Site. The Developer currently does not have off street parking and proposes to enhance his current business in the Project Area by acquiring the Site for off street employee parking.
The Developer intends to improve the Site with a surface parking lot for 5 to 8 cars, install wrought iron fencing, and five feet of landscaping around the perimeter of the Site. The lot would include handicap parking, curbs, gutters, and sidewalks. No structures are proposed for the Site.
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 $46,138, as compensation for the approximately 3,128 square foot Site.
· The Developer will utilize the Site in accordance with the West Long Beach Industrial Redevelopment Plan and all applicable City codes and regulations including providing appropriate landscaping and screening.
· An Agreement Containing Covenants will be recorded at closing. This document will prohibit certain uses, describe...
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