TITLE
Recommendation to authorize City Manager, or designee, to execute any and all documents necessary, including a Real Estate Exchange Agreement, with Lennar Intergulf (150 Ocean), LLC, a Delaware limited liability company, for the exchange of property located along Seaside Way adjacent to 150 East Ocean Boulevard; and consider Mitigated Negative Declaration 03-15. (District 2)
DISCUSSION
The City of Long Beach currently owns property located along Seaside Way, west of Pine Avenue, Assessor Parcel Number 7278-005-916 (City Parcel). The City Parcel measures approximately 8,280 square feet and is currently being utilized as a surface parking lot. Lennar currently owns the property adjacent to the City Parcel, also known as 150 East Ocean Boulevard, Assessor Parcel Number 7278-005-150 (Lennar Parcel). Both parcels are illustrated on Attachment A. The City Parcel has always been contemplated for development into a park once Lennar proceeded with the development of the Lennar Parcel. As part of the design process, Lennar and the City have determined that both the park and the project would be better served if the City Parcel and Lennar Parcel could be reconfigured for optimal development. As such, approximately 1,840 square feet of the Lennar Parcel is proposed to be exchanged for 1,839 square feet of the City Parcel. Lennar will be required to complete the park improvements within two (2) years from the Notice of Final Action, dated June 1, 2015, or prior to the issuance of Certificate of Occupancy, whichever first occurs.
The Planning Commission reviewed and approved Site Plan Review and Local Coastal Development Permit requests related to the project on May 21, 2015. Further, in accordance with California Environmental Quality Act guidelines, the Planning Commission also certified Mitigated Negative Declaration 03-15 (Attachment B), which included the proposed land exchange.
This matter was reviewed by Deputy City Attorney Richard F. Anthony on October 13, 2015 and by Budget Management Officer Victoria Bell on October 19, 2015.
TIMING CONSIDERATIONS
City Council action is requested on November 3, 2015 in order to allow timely execution of the Agreement and related documents.
FISCAL IMPACT
All fees associated with the real estate exchange will be paid by Lennar. The Department of Parks, Recreation and Marine will be responsible for ongoing maintenance of the new park, including landscape and hardscape maintenance, as well as maintenance and repair costs for the fitness stations, play surface, fencing, and signage. The annual maintenance cost to the Tidelands Operations Fund (TF 401) is currently estimated at $30,225. Funding for this ongoing cost has not been confirmed, and will be reviewed as part of a future budget process after the park is completed.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
michael p. conway
DIRECTOR OF ECONOMIC AND PROPERTY DEVELOPMENT
Stephen Scott
INTERIM DIRECTOR OF PARKS, RECREATION AND MARINE
APPROVED:
PATRICK H. WEST
CITY MANAGER