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CITY COUNCIL AGENDA ITEM NO. 9

Meeting Date: April 8, 2003

Subject/Title: Approve a Resolution Transferring Development Agreement Rights to
Donahue Schriber for Phase II and Home Depot for Phase I of Subarea A

Submitted by: Dennis Beougher, City Attorney

RECOMMENDATION
Approve a resolution transferring all rights, duties, and obligations created by a Development Agreement between the City and Arcadia Development Company to Donahue Schriber for Phase II and Home Depot for Phase I.

BACKGROUND
In September, 2002, the City Council and Arcadia Development Company executed a Development Agreement concerning 75 acres bounded by Lone Tree Way on the north, Heidorn Ranch Road on the west, the East Bay Municipal Utility District right-of-way on the south, and the State Route 4 Bypass on the east. The City’s General Plan includes the property within the Special Planning Area P and PD 51 Zone. The property is divided into two subareas: Subarea A consists of the northern 51 acres and is intended primarily for the development of a major retail center to meet the retail and commercial needs of the City’s residents and nearby region. The other subarea (Subarea B) consists of the remainder 24 acres and is intended primarily for one or a combination of retail, office, light industrial, or very high density residential uses. Subarea A is divided into two phases, Phase I and Phase II. (See attached map.)

In order to develop such a large mixed-use site, the developer, Arcadia Development, requested a development agreement to reduce economic risk of development. One of the terms of the agreement (section 8.02) was that if prior to completion of 120,000 square feet of retail/commercial uses, Arcadia Development must seek City’s prior written consent to any transfer of its interest in the Development Agreement. The City cannot unreasonably withhold or delay approval of the proposed transfer. If the City fails to respond within 45 days to any request made by Arcadia, consent to the transfer shall be deemed to have been made. City may refuse to give its consent only, in light of the proposed transferee’s reputation and financial resources, such that transferee would not in City’s reasonable opinion be able to perform those obligations under the Development Agreement.

ANALYSIS
Construction has not begun on the Property, so Arcadia Development has requested that the City approve a transfer of all rights, duties, and obligations under the subject Development Agreement to Home Depot for Phase I of Subarea A and Donahue Schriber for Phase II of Subarea A. The City Engineer and the Community Development Director, as provided for in the Development Agreement, have determined that Donahue Schriber and Home Depot have the required financial resources and reputation to perform and complete the obligations stated in the Development Agreement.

Attachments:
Resolution (w/attachments)

RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD APPROVING THE TRANSFER OF THE DEVELOPMENT AGREEMENT BETWEEN THE CITY AND ARCADIA DEVELOPMENT COMPANY FOR SUBAREA A, PHASE I TO HOME DEPOT AND PHASE II TO DONAHUE SCHRIBER

WHEREAS, in September, 2002, the City Council and Arcadia Development Company approved a Development Agreement concerning real property consisting of approximately 75 acres bounded by Lone Tree Way on the north, Heidorn Ranch Road on the west, the East Bay Municipal Utility District right-of-way on the south, and the State Route 4 Bypass on the east (hereinafter “Parcel”);

WHEREAS, the Development Agreement divided the Parcel into two subareas, Subarea A and Subarea B (Subarea A consisted of the northerly 51 acres, intended primarily for a major retail center, and Subarea B, consisted of the remainder 24 acres, intended for one or a combination of land uses);

WHEREAS, Subarea A has been divided for purposes of the proposed transfer of Arcadia Development Company’s interests into two Phases, Phase I (proposed to be transferred to Home Depot) and Phase II (proposed to be transferred to Donahue Schriber), as per the attached Exhibit A;

WHEREAS, the Development Agreement between City and Arcadia Development Company, section 8.02, requires the City’s prior written consent to any transfer of Arcadia Development Company’s interest in the Development Agreement;

WHEREAS, Arcadia Development Company requests that the City consent to its transfer of Phase I of Subarea A to Home Depot and the transfer of Phase II of Subarea A to Donahue Schriber;

NOW, THEREFORE BE IT RESOLVED the City Council finds that the transferees’ reputations and financial resources, such that transferees would in City’s reasonable opinion, shall be sufficient to perform those obligations under the Development Agreement City Council further approves the Transfer Agreement, attached hereto as Exhibit B, and authorizes the City Manager to execute the Transfer Agreement.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting held on the 8th day of April, 2003 by the following vote:
 

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