TITLE
Recommendation to receive supporting documentation into the record, conclude the public hearing, and adopt resolution making certain findings; and approve and authorize City Manager to execute a Disposition and Development Agreement with Cal-Can Holdings, LLC for the development of 2110 West Cowles Street. (District 1)
DISCUSSION
Redevelopment Agency (Agency) staff has concluded the negotiation of a Disposition and Development Agreement (Agreement) with Cal-Can Holdings, LLC, dba Redbarn Premium Pet Products (Developer) for the sale and development of Agency-owned property located at 211 0 West Cowles Street (Site), commonly known as Assessor Parcel Number 7429-018-900, -903, -905, -908 and -909 (Exhibit A). The Site is located in the West Long Beach Industrial Redevelopment Project Area (Project Area).
The Developer currently operates Redbarn Premium Pet Products and has been in business in Long Beach since 1996. The company started with two employees in a 1,500-square-foot building on Gaylord Street and generated $450,000 worth of sales the first year. The company has grown and now employs 125 people, of whom 85 percent reside in the City of Long Beach, and the budgeted sales for 2008 are estimated at $32 million.
The Developer currently occupies seven properties in the Project Area for their business operations; three of which are owned and four are leased. The opportunity to purchase one large site will allow the Developer to vacate their leased sites, thus consolidating their multiple business locations, which will help decrease traffic related to their operations, eliminate the use of limited on-street parking by their employees, and allow their business operations to expand. This development project will also allow for the creation of 10 to 15 additional jobs. The opportunity to purchase the Agency-owned site will help retain the Developer as one of the largest owner-operated employers in the Project Area.
The Developer intends to construct tw...
Click here for full text