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Item 23 - Consideration to Negotiate Purchase of Property AGENDA REPORT SUMMARY - .-.. ~- ~,~......... ..~ TO: Honorable Chairman and Members of the Redevelopment Agency ~n<< FROM: J..es L. Bowersox, Executive Direc~ ~ INITIATED BY: John D. Fitch, Assistant Executive Directo~ ~ Warren H. Shafer, Director of Redevelopment ervice~ DATE: June 27, 1995 SUBJECT: Consideration of an Agreement for the Exclusive Right to Negotiate for the Purchase of Property Owned by the Poway Redevelopment Agency at the Southwest Corner of Poway and Community Roads with the F. T. Von Der Ahe Company; F. T. Von der Ahe, Principal ABSTRACT It is recommended that the Redevelopment Agency approve an Exclusive Right to Negotiate Agreement with the principal of the F. T. Von Der Ahe Company for the purchase of property owned by the Poway Redevelopment Agency. The property is located at the southwest corner of Poway Road and Community Road and was the former site of Security Pacific Bank. ~- ENVIRONMENTAL REVIEW This action is not subject to CEQA review. FISCAL IIIPACT There is no fiscal impact at this time. ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE None. RECOMIIENDATION It is recommended that the Redevelopment Agency approve the Exclusive Right to Negotiate Agreement with the F. T. Von Der Ahe Company. ACTION - c:\data\agend8\exnegvda.cov 1 of 9 JUN 2 7 1995 ITEM 23 .----.-- ----- ~ AGENDA REPOR-- CITY OF POW A Y This report is included on the Consent Calendar. There will be no separate discussion of the report prior to approval by the City Council unless members of the Council. staff or public request it to be removed from the Consent Calendar and discussed separately. If you wiIh to have this report pulled for discussion. please fill out a slip indicating the report number and give it to the City Clerk prior to the beginning of the City Council meeting. TO: Honorable Chairman and Members of the Redevelopment Agency FROM: James l. Bowersox, Executive Dire~ _ INITIATED BY: John D. Fitch, Assistant Executive Directo~1 ~ Warren Shafer, Di rector of Redevelopment Servi ce .:.0 tJ) / DATE: June 27, 1995 SUBJECT: Consideration of an Agreement for the Exclusive Right to Negot i ate for the Purchase of Property Owned by the Poway Redevelopment Agency at the Southwest Corner of Poway and Community Roads with the F. T. Von der Ahe Company; F. T. Von Der Ahe, Principal BACKGROUND Donald T. Smith, Jr., broker with Lee & Associates representing the F. T. Von der Ahe Company, contacted staff regarding the company's interest in acquiring the former Security Pacific Bank site. The Redevelopment Agency acquired this site for the purpose of widening Community Road on the west side. Since completion of the bank building demolition and road widening, the remaining parcel consists of approximately .48 net acres. The Agency had previously entered into a similar agreement on this site. That agreement has lapsed and the current owner of the adjoining plaza, F. T. Von der Ahe Company, wishes to acquire the site. FINDINGS The Exclusive Right to Negotiate Agreement (Attachment 1) will allow the principal of the F. T. Von der Ahe Company the opportunity to negotiate with the Redevelopment Agency for acquisition of the site. The Agreement will allow the Redevelopment Agency time to negotiate a Development and Disposition Agreement which will give the Agency control on how the site is to be developed. Our preference would be on a quality restaurant with a combination of landscaping, public art/water feature to enhance the site. This intersection and the development adjacent to it are especially important due to their location in the heart of our "Town Center." ENVIRONMENTAL REVIEW This action is not subject to CEQA review. ACTION: l 2 Of 9 JUN 2 7 1995 lleM 23 ~- - Exclusive Right to Negotiate Agreement - F. T. Von der Ahe Company June 27, 1995 Page 2 FISCAL IMPACT There is no fiscal impact at this time. ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE None. RECOMMENDATION It is recommended that the Redevelopment Agency approve the Exclusive Right to Negotiate Agreement with the F. T. Yon der Ahe Company. Attachment: (1) Proposed Exclusive Right to Negotiate Agreement with Site Map c:\data\agend\exnegvd8.rpt JUN 27 1995 IT M 23 3 of 9 - EXCLUSIVE NEGOTIATION AGREEMENT This Agreement is made by and between the Poway Redevelopment Agency (the "AGENCY") and F. T. YON DER AHE COMPANY (the "DEVELOPER"). RECITALS 1. The AGENCY desires that certain parcels of real property (the "Site") within the Paguay Redevelopment Project Area (the "Project Area") be developed in accordance with the provi s ions of the adopted Redevelopment Pl an for the Paguay Redevelopment Area (the "Plan"). 2. The .48 acre Site is located on the south side of Poway Road west of Community Road and is currently owned by the Poway Redevelopment Agency. A map depicting the Site is attached hereto marked Exhibit "A." 3. DEVELOPER, pursuant to the California Community Redevelopment Law (California Health and Safety Code Sections 33000, et seq.), desires to develop the property, as the adjoining property owners, in accordance with the Plan. 4. AGENCY and DEVELOPER desire to enter into an agreement which will permit the parties to make the necessary analysis to determine the feasibility of developing restaurant/retail use on the Site, and to negotiate a Development and Disposition Agreement (the "DDA") which if negotiated and approved would provide for the conveyance of the Parcel to the DEVELOPER for development of the Site in accordance with the Plan. Attachment 1 JUN 2 7 1995 E;:;M 23 4 of 9 -- Exclusive Negotiation Agreement F. T. Von der Ahe Company Page 2 NOW, THEREFORE, the AGENCY and DEVELOPER agree as follows: Sect ion 1. Recitals. The above recitals are incorporated herein as if set forth in full. Section 2. Neootiation. AGENCY and DEVELOPER agree for the peri od described in Section 3, below, to use their best effort to negotiate and prepare a Di spos it i on and Development Agreement between AGENCY and DEVELOPER for the development of the Site in accordance with the provisions of the Plan. Section 3. Neootiation. AGENCY agrees that it will not negotiate with any other person or entity for the development of the Site for a period of 90 days. Section 4. AGENCY Coooeration. AGENCY agrees to promptly provide to the DEVELOPER all information possessed by AGENCY reasonably related to the development of the Site including, but not limited to, marketing and economic data relating to the use of the Site for restaurant/retail, traffic studies, population and demographic studies and the like. DEVELOPER agrees to provide AGENCY with all such information that it possesses and/or generates during the exclusive negotiating period provided such information shall remain confidential. JUN 2 7 1995 1'7-;; ',1 23 ;,~.f!ij 5 of 9 ~~- -- Exclusive Negotiation Agreement F. T. Von der Ahe Company Page 3 Section S. Additional Steos and Procedures. Both AGENCY and DEVELOPER acknowledge that as soon as possible after execution of this Negotiation Agreement, the fo 11 owi ng steps and procedures need to be implemented duri ng negotiations contemplated by this Agreement: 1. DEVELOPER shall obtain and submit to the AGENCY a letter substantiating that they have the financial commitment to purchase the Site. 2. DEVELOPER and AGENCY shall diligently pursue negotiations with the Redevelopment Agency for the acquisition of the property. Section 6. DEVELOPER Reoorts. DEVELOPER shall, not less than once each 20 days, advise the Executive Director of the AGENCY of DEVELOPER'S progress in preparing the development proposal. Section 7. NeQotiators Desianated. The AGENCY has designated the following person as being primarily responsible for the negotiation of the DDA: James L. Bowersox, Executive Director Poway Redevelopment Agency 13325 Civic Center Drive Poway, CA 92064 JUN 2 7 1995 In:M 23 6 of 9 Exclusive Negotiation Agreement F. T. Von der Ahe Company Page 4 The DEVELOPER has des i gnated the fo 11 owi ng person as being primarily responsible for the negotiation of the DDA: Frederick T. Von der Ahe F. T. YON DER AHE COMPANY 1001 Dove Street, Suite 150 Newport Beach, CA 92660 The parties acknowledge that the successful negotiation of a DDA will require candid exchanges of information often on short notice and agree that they will direct their designated negotiators to cooperate fully in the negotiation process. Section 8. Particioant Acknowledaement. The DEVELOPER acknowledges and agrees that execution of this Agreement by the AGENCY does not constitute any approval of development on the Site, nor does it obligate the AGENCY or the City of Poway (the "City") to hereafter enter into further agreements concerning the Property. Section 9. Termination. Notwithstanding any provisions of the Agreement to the contrary, unl ess extended upon mutual consent of the part i es, this Agreement shall terminate and be of no further force and effect 90 days after the AGENCY executes this Agreement. If, in vi ew of the AGENCY, DEVELOPER has not and is not proceeding with negotiations in a timely manner, the AGENCY reserves the right to terminate this Agreement at any time. JUN 27 1995 ni.NJ 23 7 of 9 -~-------_._.__.._-_. - Exclusive Negotiation Agreement F. T. Von der Ahe Company Page 5 Sect ion 10. Ass ianment. This Agreement shall not be assigned by the DEVELOPER without prior written approval of the AGENCY, which the AGENCY may grant or refuse at its sole discretion. DEVELOPER: F. T. VON DER AHE COMPANY Dated: , 1995 By: Frederick T. Von der Ahe Principal AGENCY: Poway Redevelopment Agency Dated: , 1995 By: James L. Bowersox Executive Director c:\data\rda\exnegagt.vda 8 of 9 JUN 2 7 1995 n~M 23 _u____ _u _ .. ~ ~-- - Poway Road - !'/ j ,.' 38,OO'~ '~i ~ - - - 1____ i':)!jj i_\:\ .~,., .....'1, H'~ ,in .~ ,'..>is \1!t ~ ..""~ - ! I ~~ .~~~.~.' '.~~:77':, I'. ~' , .,~~~.~~~.~.~~ ~.'~'f~' !1- I lii;'IflRIGHTOF Wt\y . ,.:;w::....;:<~,,-,,:< . r,~:~-. ' ~ . ~ r -"0m DEDICATION i 21 . 'c F7,;:;.<, 20~ L y"- ....;. 1:;/\1 REMAINDER ~,<' ~ ,<~ ,i\ .' I - '~"~'~~"~~ PARCEL \"<". Jt ~~. ~.~ i' n I .~ "ii 1 Ii ; I '. , i"'.' ~.....'. 0-- : ~ "i0~;< Iii ..t~F ~~ < S:i I" ~ ~?_>Y ~~~" .~ '" '; -'i ~ ( :,'..-> < " .c, '~. ','~~ .. . [s.., , ~. ~ ".~ ~~. " l~ > ~ : 0-~/': '~.~~.~. > -.- ~ '--;.,-":,, ,-y as ;/~.~"',.~:..i > .~,~~~ ~,~..~~;- ::7. Q '~';e., .....;..;...;., 'l'~ ,~~~..~. !ii ~ ')'~f:+ i.lm.Eli ~ij .e> . V.L Lii, ;:V ,,;. ii<V lj ;:" ~ ~~.i,. ;- .. ....~~:: s i.i;...,J..... ,i.:.i s f ~\;ii ...... . Q .,.' "'" "-"~,~.~,,',. 0 ?:;.:~ ,'.",. .~~~~. i ii 20::..i ~ t:.; .. Y."Ci.rH ~,.,~.ii;.;< .~.,~~~~. f.., .. ~ ~ , ~"~~'.' .; 'ii/Fii/t, :,<ii' ~~~ ,".,', :~; 'its ~ """ :'~~~..::) ,~..)i.~, '~~;;;ii~ ,,'." .~.~~~.~..,'" ,:: :) > ~ ~ '"'-~ ,. ~. .' .,:.:~~.i./., ,'~~~',~, ~ . ~~. ~~. '1-:;, "C'~" _ I~ 1211"0' G - A ros, rea----________ =0.80Ac. Poway Road Oedic3tion(~\t;Tn+~) = 0.15 Ac. ! Add'l Community Road Dedication _ 0.11 Ac, I ~_.._=..s====:: , Net Area- - _ _ _ _ _ _ _ _ _ _ _ _ = 0.48 Ac. i , SECl.iRITY P-KIFIC BA'K PROPERTY cor. Poway Road & Community Road Exhibit "A" JUN 27 1995 ITEM 23 'j 9 of 9