Item 18 - Annual Review of Development Agreement with Poway Corporate Center
,- AGENDA REPORT SUMMARY -,
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TO: Honorable Mayor and Members of the City Council
FROM: James L. Bowersox, City Man~ ^A
INITIATED BY: John D. Fitch, Assistant City Manage!f (
DATE: December 19, 1995
SUBJECT: Annual Review of Development Agreement with Poway Corporate Center
ABSTRACT
California Government Code Section 65865.1 requires that the City Council annually
review compliance with the terms of Development Agreements that have been entered into
with developers. It is recommended that the City Council find that Poway Corporate
Center has complied with the terms of the Development Agreement for the development of
the Poway Corporate Center.
ENVIRONMENTAL REVIEW -
This item is not subject to CEQA review.
- FISCAL IMPACT
None.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
-
A copy of this report has been sent to Poway Corporate Center.
RECOMMENDATION
It is recommended that the City Council find that Poway Corporate Center has
demonstrated good faith compliance with the terms of the Development Agreement entered
into on November 27, 1990.
ACTION
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~ AG ENDA REPOR'
CITY OF POWAY
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 fr~~ ~e ~onsent Calendar and
discussed separately. If you wish to have this report pulled for discussion. please fill out a shp indIcating the report number
and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Honorable Mayor and Members of the City Council
FROM: James L. Bowersox, City Man~ ~
INITIATED BY: John D. Fitch, Assistant City Manage~\~
DATE: December 19, 1995
SUBJECT: Annual Review of Development Agreement with Poway Corporate
Center
BACKGROUND
On November 27, 1990, the City of Poway entered into a Development Agreement
with Poway Corporate Center to provide for the development of the Poway
Corporate Center within the South Poway Community Plan Area. The requ is He
periodic review of compliance under the Development Agreement must take place
prior to the calendar year-end each year hereafter. -
FINDINGS
Attached is a letter from the developer which accurately describes the
progress that has been made to date. Staff has determined that the work
accomplished under the Development Agreement is in compliance with the
provisions of the South Poway Community Plan.
FISCAL IMPACT
- None.
PUBLIC NOTIFICATION AND CORRESPONDENCE
A copy of this report has been sent to Poway Corporate Center.
RECOMMENDATION
It is recommended that the City Council find that Poway Corporate Center has
demonstrated good faith compliance with the terms of the Development Agreement
entered into on November 27, 1990.
Attachment: Letter from Poway Corporate Center
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ACTION:
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TECH BUSINESS CENTER
Mailing Address:
,- Fax No.: (619) 223-2865 3575 Kenyon Street P.O. Box 80036
Telephone: (619) 223-1663 San Diego, CA 92110 San Diego, CA 92138
November 28, 1995
Mr. John D. Fitch
Assistant City Manager
City of Poway
P.O. Box 789
Poway, CA 92074-0789
Re: Development A~reement Powa,y Corporate Center ProKress Report.
Dear Mr. Fitch,
The status of our development remains the same as set out in our November 1994 report
i.e. the ten buildings constructed in Poway Tech Center are occupied and forty-seven fully
improved lots remain for sale.
While the demand for existing buildings for lease and sale has strengthened during the past
-- twelve months, neither demand nor prices have reached a level to support the construction
of buildings on a speculative basis.
Prices for improved lots remain well below replacement cost. As a result of these economic
co~ditions, no sales or further development have taken place in Poway Corporate Center.
Very truly yours,
TECH BUSINESS CENTER
By: Techbilt Construction Corp. RECEIVED
DEe - ~ 1995
Paul K. Tch . , President CITY OF POWA Y
CITY MANAGERS OFFICE
By: Bothwell International Ltd.
General Partner
/l/J~ -' -
-- Neville F. Bothwell, General Partner
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