2013-14 RESOLUTION 2013 - 14
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF GRAND TERRACE APPROVING THE LONG-RANGE
PROPERTY MANAGEMENT PLAN.
WHEREAS, the State Legislature dissolved redevelopment agencies by enacting
Assembly Bill Nos. 1x 26 and 1484, relating to redevelopment dissolution, ("Dissolution
Statutes") which became effective on June 28, 2011 and June 27, 2012, respectively;
WHEREAS, Health and Safety Code § 34191.5 requires a successor agency to prepare
and submit a Long-Range Property Management Plan ("PMP") to the California
Department of Finance ("DOF") within six (6) months of receiving its Finding of
Completion from the DOF;
WHEREAS, the Successor Agency to the Community Redevelopment Agency of the
City of Grand Terrace ("Successor Agency") received its Finding of Completion on May
9, 2013 and therefore needs to submit its PMP to the DOF by November 9, 2013;
WHEREAS, the Successor Agency on August 13, 2013 contracted with Kosmont &
Associates, Inc. ("Kosmont") to prepare the PMP, attached hereto as Attachment 1; and
WHEREAS, the Successor Agency approved the PMP, attached hereto as Attachment
1, at a regular meeting on October 22, 2013.
NOW THEREFORE, BE IT RESOLVED THAT THE OVERSIGHT BOARD DOES
RESOLVE, DETERMINE, FIND AND ORDER AS FOLLOWS:
Section 1. After duly considering and reviewing the PMP, the Oversight Board hereby
approves the Long-Range Property Management Plan, attached hereto as Attachment
1.
Section 2. The Oversight Board hereby directs the Executive Director to submit the
PMP to the Department of Finance for its consideration and approval, and to take all
other actions necessary and required by the Health and Safety Code and any other
relevant law in presenting the PMP to the DOF.
Section 3. The Oversight Board hereby authorizes the Executive Director to take all
actions necessary and required to carry out this Resolution.
r�
Section 4. This Resolution shall be effective five business days after its passage or in
accordance with applicable law.
Section 6. The Oversight Board Secretary shall certify to the adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED by the Oversight Board of the Successor
Agency for the Grand Terrace Redevelopment Agency at a regular meeting held on the
6th day of November, 2013.
AYES: Board Members Shields and Ferracone; Vice-Chairman Sacks and
Chairman Stanckiewitz
NOES: None
ABSENT: Board Members Miranda, Morga and Forbes
ABSTAIN: None
Walt Stanckiewitz,
Oversight Board Chair
ATTEST:
Tracey R. Mlrtinez,
Oversight Board Secretary
Long-Range Property Management Plan:: :.:
City of Grand Terrace Successor Agency
..
...: October 1A2013
:.. Page 1 o 22
ONG-RA: NGEP-R0PERTY ,': .:,:
MANAGEMENT. PLAN
SUCCESSOR AGENCY:TO THE FORMER COMMUNITY
REDEVELOPMENT AGENCY. . THE CITY OF GRAND :TERRACE
- o
Ma 61�RrtCE
q.
Prepared:By:
:.:
..osmon
— companies
:.: 65 S. Figueroa Str.
KOSMONT.COMPANIES. ..
8 eet, #3500 ::
:Los: Ange Ies, CA:90017
TeleP hone: (213)417-3300
' www.kosmont.com .. :.
c-rOBER 16, 2013
.
The analyses,projecUoris,assumptions,rates of return,.and any examples presented herein are for illustrative
purposes and are not a guarantee of actual arid/or:future,results.Project pro forma and tax:analyses areprojection_s
1 : only.Actual'results,maydiffer materially from those expressed in this analysis:
OSI110T1 W5 South Figueroa Street,35th Floor- Los Angeles 'California ;9001.7 ph 213.417.3300. fax:213.417.3311
�mo��
-:Long-Range Property Management Plan:. :-.
City of Grand Terrace Successor Agency
Octaber 1A'2013
Page 2 of 22
Table of Contents: ,
-Section. : : - Page
1.0. .introduction...................... . ............. ... ....::..:.... ..3
2.0 Long-Range Property.Management Plan.............................:........................
..6
: . Property#1:22100 Block of Baton Rd:................:........::................::. ...............6
Property#2:22747 Barton Rd:..:.............:::....................... ......::............... . ..... ...9
Property#3: Vista Grande Park Project.:.:......:.::...:..... ....::........ ... .....:........:11
Property#4. Mixed-Use Specific Plan Project...................:............................................ .14
Property.#5:-Baseball Park Project...............:: ...:................ ............ . . ... :.. . ..19
3.0:.:Attachments.::.: .::..............::.::.::.::.....................: ........ .............: ... ...22:, :.. .
w.
I
The analyses,projections assumpfions,rates of retum,:and any examples presented herein are forillustraUve
purposes and are not a guarantee of actual and/orfuture,results.Project pro forma and tax:analyses are projections
1 - only.Actuat results may'difter materially from those expressed'in this analysis:
1 OSi1102] 866 South Figueroa Street,36th Floor LosAngeles Caldomia 90017 ph 213.417.3300. fax 213A17.3311
�o��s:
Long-Range Property Management Plan.. :.
City of Grand Terrace Successor Agency
October
: 2013
Page 3 of 22
1 ED Intro uction
1.1 Background &Purpose
-Health and Safety Code Section 34191.5; added by:AB 1484 (signed :into -law on June 27,
2012), requires each:Successor Agency ("SN') to prepare:and approve a Long-Range Property:
Management Plan ("LRPMP") that: addresses the :disposition and.use of the real properties of
the former redevelopment agency: :Properties held by:a successor agency cannot be disposed
of. until the State Department of Finance:(`.`DOF") has approved the LRPMP:. This document is: : .:.:
the LRPMP.for. the SA to the former Community Redevelopment Agency ("RDA") of the: City of
Grand Terrace.
Table 1.1: City Location Map
21
Valle, Los.Angeles County f` , San Bernardino County
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The analyses,projections,assumptions,rates of refum and any example
s'presented herein are for illustrative
(purposes and are not a guarantee of actual and/or future,results,Project pro fartna and tax.anatyses'are projections
1 - only Actual results maydit er materially from those expressed in this analysis:
ICOSIYIOII 865South Fgueroa Street,35,th Fbor L6sMgeles Califomie 90017 ph 213.417.3300. fax:213.417.3311
9wmpantu
. . .. . . . Long-Range Property IVlanagement Plan
City of Grand Terrace Successor Agency
. .. October16,2013
:.. Page 4 of 22
p p_ .
1.2: Successor Agency Property Summary
The SA / former RDA is the owner of record on .title for five (5) properties (comprised-of 13
parcels). in: the: City of Grand Terrace. Of these-:properties, two: (2): are governmental. use
properties that are proposed to be transferred to the City.to continue exclusive and continued..
governmental use. Of the:remainin three 3 ro erties
9 . 9 O p .p. designated q.
'two are desi Hated to be li uidafed
with distribution of sale proceeds:to local taxing:entities pursuant:6.AB1484, and one.of the
properties is designated-to be transferred to the City for.future development., Table 1.2 below .
summarizes the recommendations-for disposition for the LRPMP properties, and Exhibit 1.2 on
the following a e includes.a ma :of the SA and:Housin Agency properties.p Table 1:2.-Successor Agency PropertySummary.
Address/Descriptiriptio
:-0275-242-.11
1: :22100 Block of Barton Rd. X
0275-242-1.1
.L
2 22747 Barton Rd 0276 202 54 X y:
...
3 :Vista Grande:Park:Project 0276-462-10 I X
1167 141 08.
4 mixed Use.Specific,Plan 1167-j 51 71 1=167 1
Project
51 74 X
1167=161 03:
1167-161-04'
1"167-151 22,,
1167 151 73
5 Baseball Park Project 1167=151 75, X I•
- IThe analyses,prgiecLons assumptions,rates of refum,.and any examples Presented herein are for illustrative
purposes and are not a guarantee of actual andlor.future,results Project.pro forma and tax analyses are projections
oglyActual results may differ materially from those expressed in this analysis:
kosmon�,� 885 South Figueroa Sheet,35t Floor Los Angeles California 90017 ph 213.417.3300 tax:213.417.3311
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Long-Range Property Management Plan -
City of:Grand Terrace Successor Agency
October 16,2013
:.. p Page 6 22
of :
2.0 : Lon -Ran a ro ert
ana
4 .
Prooerty 01: 22100 Block of: Barton Road
�: McClarrenSt
t
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... .'3.s
.. ... ...
Barton Rc�
- .
-_. �.
Parcel It _ .
Address N 22,100.13106k of Barton Road
APN ..0275-242-10 & 0275 242-11
Lot Size 0 8$acres (38,333 square feet)
_.. . .. _ _
Use Vacant land:,.
Zon�n BRSP—General Commercial
9
Current Title City of Grand Terrace:Successor Agency
The analyses,,'projections,assumptions,rates of return and any examples presented here'are Tor illustrative
Purposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projections
1_ - only.Actual results may differ materially from those expressed in this analysis.
ICOS1110II 865 South Fgueroa Street;35th..Ftoor Los Angeles Caldomia- 90017 ph 213.417,3300 fax 213.417.3311
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 16,2013
Page 7 of 22
■ •!Ir.ihl�i ��:���raiu�l�luiaillraii•�luJr•�•�a���d� BMW
Purchas"e.Date ,l/272009.(APN,#0275 242
8/1/2009 (APN #0275 242 10)
Purchase Price $399,231
Funding Source Tax increment
_:_ .
Future commercial development in advancement of
Purpose RDA planning objectives
,Estimate of Current Value $350000
Method of Valuation . Professional appraisal obtained by City dated August
_ 23,, 2011
- - 1laiat(:�:�.�d�i•�aa�'r,��_�fi•�I��Ia•�krta�a:�a�fiiautan4.�..��i•��la�i,ihE�l��
i.No Revenues or
There are no revenues.generat— by this property, andahere no
Contractual` -
Requirements contractual re related to this.quirements property.
• • • 1 l•Jlllifalll%�—�i•Jllt%Illlilt%I�U11lU�aa11 - • • 1 • Property
Phase I Environmental Sjte;Assessment and Limjted Phase:;Il
Environmental Sjte Screening dated March 18:2009, Qpnl 1 b,
2009".and September:=,11; 2009 No known historyof
environmental contamination, designation as Brownfield site, or
remediation was:ideritified.-
During the aforementioned escrow; a subsequent P'.lase 1
Assessment was conducted;by O'Reilly, which;identified a 1`0
Soil Remo'al cubic yard soil pile, as"a Recognized Environmental Concern
Required (REC) Additional soil sampling ofahe soil pile determined the
a:
stockpilecontains non hazardous levels of diesel and:mot or ojl
_ range:hydrocarbons :As a::condition to the close of escrow, ;
O':Reillywas requiring'the:Agency o r`emove the soil;from the
propertyTo properly:dispose of:the soil pile to the.appropriate
treatnienf'storage disposal facility, additional analysis for,VOC's
i and metals"is required
The Agency h`as jncluded the antjc pated'cost;of soil removal on
the Recognized Obligation Payment Schedule ("ROPS") „ ,
The analyses,projections,assumptions,rates_of return,and any examples presented herein are for illustrative
purposes and are not's guarantee of actual and/or future results.Project pro forma and tax analyses are projections IIr
only.Actual results may differ materially from those expressed in this analysis.
koS n%1 865 South Figueroa Street,35th.Floor Los Angeles California 90017 ph 213.417,3300 Tax 213.417.3311
wmpadcs _ _
Long-Range Property Management Plan
City of Grand:Terrace Successor Agency
October 16,20.13
:.. Page 8 of 22 .
• - - • i - i - • • • - • • r' - • • -
Potential for TOD> Not applicable
�. _...
Agency Planning Future development of retail commercial uses wilI:advance
'
Objectives Agency objectives of elimination of blight an,d strengthening of
:.: commercial uses and the economic:base of the comrhUnity
Brief Fiistory of Oriev@ff"Iopment Proposals and Activities Property#1
This property was jn escrow ifor':sale to. O'Reilly Automotive..
# History Stores,_ Inc.` ("O'Reilly"). in :W";:. however; escrow: was
ed<n Auqustf013:due toe pmeht di devefo
Recommendati• • 7'-• • • Property
As the,Purchase,and Sale Agreement with O'Reilly is no longer.;
in place at this time; it is recommended that the property be
sold tor a:d eve loper;or ,end-user:for developrrient.'consistent
=,
Liquidation with Agency planning objectives for a sale.price consistent with
estimate of_current,Value.`Revenue generated-from the sale of
a this property is proposed:to b ' distributed toaocal taxing
I. r agencies pursL.uant.tOAP 1484
�� . . . ..
The analyses projections,assumptions,rates of return and an exam les presented herein are far illustrative
any.exam
(purposes and are sofa guarantee of actual and/or future results.Project pro forma and tax analyses are projections
RA42n
only.Actual resuih may differ materially from those expressed in this analysis.
koS111 1365 South Figueroa Street,35th,Floor Los Angeles ,California. 90017 ph 213.417,3300 fax 21,3.417.3311
- mpaN
Long-Range Property.Management Plan
City of:Grand:Terrace Successor Agency
r 16,Octobe - . 2013-
Page 9 of 22
Frooerty #2: 22747 Barton Road
VA ,
f
city Hall
y7
r
.T
Palm �4ve
Parcel _
: : Atldress 22747 Barton Road
APN 02767202-54'
- Lot Size 0 33 acres 14,375 s uare#eet
U:se Vacant Land
Zonin BRSP ice-Professional ........... '
_
Current Title City of Grand Terrace Successor Agency
The analyses projections,assumptions,rates of return and any examples presented herein are for illustrative
purposes and arefiot a guarantee of actual and/or future results Project pro forma and tax analyses are projections
only:Actual results,may differ materially from those expressed in this analysis.
kosmoII 865 South Figueroa Street:35th.Floor Los Angeles California: 90017 ph 213.417,3300 tax 21 Av.3311
,.�P�� - -
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 10,2013
Page 10 of 22
• . • -
Purchase Date 01/1.3/2009
Purchase Price $360,000
i Fundi.ng Source TaJ crement
Purpose Future commercial development in advancement of
RDA planning objectives
Estimate of Current Value $115000.
. :Method of Valuation__. .�.
:.. r Comparable sales evaluation
1:1a1a1IN.1,- l'a•i'lk.t%IN:l:4011 11a11LQIIC"A.LNa"•J•1:d�+Lj��
No Revenues or
Contractual ere no revenues generatedby this property,;arid there no
.Requirements.
contractual requirements related to this property
mecfl- -
None No known history of environmental contamination, designation as
Brownfield site, or remediation
`Potential for TOD Not applicable
Future commercial development will advance Agency objectives
Agency Planning of elimination of blight and strengthening of commercial uses.and
Objectives the economic base of the community. Immediate proximity of the
subject property to City Hall should also be noted.
r�:°t1~��:�i��.���t��n.���-�•1:���aty.,,l��a;l���.�.�.�-�:r�l,,.�_i.,�,�l��:i:���.,.�'������.ai
Previously abandoned structure 'on-site was demolished. There
History has,been no notable development proposal and other activity in
connection:with this property since:Agency acquisition.
Sale of property to developer or eid-user for development
consistent with Agency planning:ob�ectives and proximity to;City.
Liquidation Hall for,'sale price consistent with' estimate ofcurrent value
f. Revenue;generated from the sale of this`property is proposed to
be distributed: o local,axing agenciespursuant`to AB1484
- IThe analyses projections,assumptions,rates of'retum,and any examples presented herein are for illustrative
purposes and ate hot guarantee of actual and/or future results project pro forma and'tax analyses are projections
only.Actual results may differ materially from those expressed in this analysis.
ko smonP;n;g 865 South Figueroa Street;35th Floor Los Angeles California 90017 ph 213A17.3300 fax 213.417.3311
L.
on "Ran a Pro a Mana ement Plan
9-... 9 P rty 9...
City of Grand:Terrace Successor Agency
October i6;20.i3
:.. Page 11 of 22:.
r
:.. :Proaerty #3: Vista Grande Park Project
Parcel Data—
:.:
e�
v
Terrace Rd
Property
s Address 22720 Vista Grande Way 4„
APN :: : .:. 0276-462-10::
:.. Lot Srze 0 35;(15 246 s uare feet
,Use. . Vacant Land
_
Zonin Residential :R1 20 ;
Current Title: City of Grand Terrace Successor Agency
w.
Acquisition & Valuation Information — Property#3
";Purchase Date 6/0/2009
Purchase Price:.-. _ $601000
Funding Source Tax increment
_
Eliminate public nuisance (red-tagged, foreclosed
Purpose residential structure and provide for o ens ace or
P ) . p. . � p. . :. P.. .
future civic use
;...Estimate,of"Current Value r
w.._ _
Method of Valuation "
Non-revenue generating:public use with consideration of
unstable geotechnical conditions
"1 ... . _ .
The analyses projections,assumptions;ratesaf return and any examples presented herein are for illustrative
purposes and are not a guarantee of actual andfor future results Project pro forma and tax analyses are projections
only.Actual result may differ materially from those expressed in this.enalysis.
k o-smon 865 South Figueroa Street;35th.Floor Los Angeles California: 9W17 ph 213.417,33W fax 213.417.3311
- eampndes _ -
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 16,20.13
Page 12 of 22
r:1.a1=11[ll�Y�'lallal4ll�i! ! � • !lar�t'�'li•11111�%lflllCl■Gl=i!l!Ill:dlll:dlll+`l..�dl•1!lary�a{�
4 No Revenues or
There are no revenues generated by this property and no„
Contractual
* contractual requirements
Requirements
of--]to]AlAleib ILIAl•]IIIIt-11M.I1•i•'J114:.III111[^:IIUIIk•%il=i11l-i!6-.11tillIIP11ii•Jr4->b rr:Il•JGiarL�l{�
Property'includes unstable sojl in:rear portion of parcel (Natural �::
Subsiding.Soil
Hazard Disclosure Report°obtained by:City dated May 27, 2009):.. ,
Conditions..
Property.is located in "Slide.Ptbner Zone" within:County General
Plan There is:Ao history of environmental contamination,
1
designation as'<Brownfieldaite, or remediation
;Potential for TOD Not applicable
:. ...
The Vista Grande Park Project is explicitly indicated as one of 14
priority:non-housing projects in the approved:RDA Five-Year
Implementation Plan adopted December 8, 2009 for the years
Agency Planning 2010-2014 for the advancement of:Agency objectives #4
Objectives (improve parking and open,space) and #5 (civic and cultural
enhancement). Demolition of the,previous red-tagged,
foreclosed residential structure.also.served to advance Agency
planning #1 (eliminate blight).
q.
Previously abandoned tructure'(red-tagged,,foreclosed
residence) on-site was demolished There,has been no notable
( History developmentproposal activity or other activity!m connection wjtfi`
hi prop propertysirice:Agency acquisationfrom th`e previous.Bank
owner as a Real Estate Owned ("REQ'") :property._
The analyses projections,assumptions,mtesaf retum and any examples presented herein are for illustrative
(purposes and are not a guarantee of actual and/or future results.Projeef pro forma and tax analyses are projections
- oNyrActuaI results may differ materially from those expressed in this analysi
s.
ko s'TI n 865 South Fgueroa Street;aft Floor Los Angela's Calif is 90017 ph 213A17.3300 fax 213.417.3311
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 10,2013
Page 13 of 22
.
Retention of the property by the Cityfor government use consistent
with.its identification as a port non=housin redevelopment project
'Iu
„ p Y g
within the a roved and`adopted RDA Five:Year'implementation
pp
Plan. Health'ai46Safety Code.Section 34191.5{c) (2)(A) allows for.
_;.
the.City to,retam title to.property for`development_that�is included in
redevelopment plan and also for government use:
On May 14, 2013 and June 5 2013, the Successor A 'e' and
Oversight Board adopted respective resolutions approving the
Transfer to City transfer of the property to the;;City of Grand,Terrace'pursuant to
for Government i Health and'Safety Obde Sections 34181;(a)-and 34191:3 On
;.,Use Qctober 15,;'2013;?.the:DOF:disallowe`d the;#ransfer as the dogpark
has'not yet been constructed However, development;of the property
;,
as a dog park as:identified irr the'adopted RDA 5-Year. '
Implemertatjon F?lan is th"e best useof he property, and,js viable
-
Given the unstable geotechnical conditions.of theproperty, on,e
possible future use is a dog park as proposed by a community
volunteer organization Vista:Grande Park constructio.n.costs were
I explicitly indicated among designated uses=of proceeds.from the
RDA'2011A,Tax-Allocation:Bonds :` '
The analyses projections,assumptions,rates.of return,and any examples presented herein are for illustrative
purposes and are not a'guarentee of actual and/or future results Project pro forma and tax analyses are projectins
only.Actual results may differ materially from those expressed in this analysis. . .
ICOS1TlOri "865 South Figueroa Street,35th.Floor LosAngele's California_90017 ph 213.417.3300; fax 213A17.3311
mmPades'
Long-Range Property Management Plan . - ::: : -
City of Grand:Terrace Successor Agency
October.l6;2013
Page 14 of 22
w.
: . Prooerty #4: Mixed-Use:Spedi Ic Plan :Protect
Mixed-Use Specific Plan B a r t o n R d
Project Boundary
PMP Properties within A
Specific Plan Project
c '
y
Legend
A 1167-141-08 ?, ,
.. .
B :1167-151:74 D e B e r r y S t
C I 1167'151:68 L .
. .
:D:l. 1167-15171:
E j 1167-161-03 . .
F 1 1167,16 :04
G.J. 1167-151-22...
.- Var Buren St
a t
� § B {
rrn•
D v
Riverside Picos cco
Canal *' Park PI f U St
Grand
and Terrace 'o High School t
�.. M
Parcel Data
Property#4
�. W Commerce Dr
Address :21902 &21974 DO:Berry,St:
21900'31ock.of Uan Buren St . b.
1167-141-08
APN ::1167-151-68, 71, 74 :.
1167'161-03,:04, 22
i .:L ot Size54 ,,'I' acres
r.
:Use Vacant Land
I Commercial manufacturing:-1167 141 08, 1167 1'51 22 1167-161 03':04
Zoning Restricted Manufacturing 1167 151-71, 74'
M 2 Irldustnal 1167 151 68
---- .: _:- -
General Plan Mixed-Use (Commercial/ Residential Mix):
_ w._.
Current Title City of Grand Terrace Successor.Agency
The analyses projections,assumptidn%rates of retum,and any examples presented herein are for illustrative
(purposes and are not a guarantee of actual and/or future results Project pro forma and'tax analyses are protections
- only.Actual results may di fer materially from.those expressed in this analysis. =
ItoSlllOri . :865 South Fgueroa Street;35th,Float Los Angeles Califbmia: 90017 ph 213.417.3300 fax 213.417.3311
wmpm les
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 10,2013
Page 15 of 22
Acquisition & Valuation Information — . . -
11/22/2000:' 1167=151 68, 71,=74
07/21%2005 1167=161-04
-Purchase..Date 08/:16/2005.1167=16103
10/25/2005=1167-;141 08
07/29/2011 116715122 =
1167-141-08—$245,280
1167-151-22:—$1,393,702
1167-151-68—$500,191
Purchase Price 1167-151-71 —$166,395
1,1.67-151=74.-$523,962
1:167-161-03-$899,953
1167-161-04—$409,701
Total =.$4;139,184
Funding Source Tax-increment,including proceeds from the:RDATax Allocation
Bonds Issue of 20-11 B
_ Purpose Land assembly for large commercial project in advancement of RDA:
planning objectives
11677 08 $283,500
1167=151 22 $0 ($927,800 before adjustment'for wetlands-mitigation)
1167=,151 68—$0($976,1:00 before adjiastmerit.for storm water mitigation}.'
;Estimate of.. ; 1167=151 71 $0 ($216,400 before adjustment for storm water mitigation)
Current Value `i 1167=:151 74` $0($1,022;500 before adjustment for wetlands mitigation),_
1167-16103 $479,100
1167-16104{ $43:500
Total $806 460xol
Method of -
Valuation.: Comparable sales evaluation
Revenues Generated by Property . . — Property
No Revenues or There are no revenues..generated by this„property and no
N contractual requirements It should;be noted that Parcels C and D`` f
Contractual
include.approximately A.1 acres of anticipated storm drain
Requirements
easements
EnvironmentalHistory of -
No known history of environmental contamination', designation as
None Brownfield site, or remediation. It should be noted that the Property
contains approximately 4 acres of wetlands that will need to be
maintained onsite.
The analyses projections,assumptions,rates of'return and any exartiples presented herein are for illustrative
purposes and ae not a guarantee of actual and/or future results.Project-pro forma and taz analyses are projections
only:ActuaLresults may differ materially from those expressed.in this analysis.
kosmon�, es5 scum Figueroa stet.35tn Floor Los nr,geles CalHomia 90017 ph 213.4173300 fax 213.417.3311
Long-Range Property.Management Plan
City of Grand Terrace Successor Agency
October 10,2013
Page 16 of 22
• - - . � - - . . � . - • . - . .-
Potential;for ;.
TOD Not appljcable;
The Mixed-Use Specific Plan Project is explicitly_indicated as one.of 14:
priority non-housin ro ects in the:approved RDA Five-Year -
Agency p . Y g p . 1 pp . _
Planning Implementation-Plan adopted December.. 2009 for the years 2010-
Objectives
2014 for the advancement of Agency objectives #1 (eliminate blight), #2
commercial use #3. stren then economic base and:#9.
(strengthen: ) . . . ( g ), .. ... .
: . improve utilities.
.:.:
,may.
The analyses,projections,assumptions,rates of retum and any exartiples presented herein are far illustrative
purposes and are not a guarantee of actual and/or future results Project pro torrna and tax analyses are projections
- only:Actual results may differ materially from those expressed in this analysis.
ICOS111O11 865 South Fgueroe Street;35th.Floor L..Mgeles Calffomta: 90017 ph 213.417,3300 tax 213.417:3311
Long-Range Property Management Plan
City of Grand Terrace Successor Agency
October 16,2013
Page 17 of 22
■�Jttla ll•1�L•J�rbilllib'i�la!gat•1!1111a11��1�J!1•1=YY�1:111�I�aP1�UI�lI- • ! " l '
For ;more than -;two -decades,, theCity has attempted ,.to foster
'development.,in ''the Specific` Plan Project Area (also known.;as: the
Southwest Commercial :Site).: : However- the significant drainage :&
sewer infrastructure: .improvements. required' have. hampered
development.
The property contains approximately 4 acres of wetlands as designated
by the California Department of Fish and Game`,and the :U.S. Army
:Corps . of , Engineers that will .need to be maintained onsite.
Development of the property:will require retention basins on;the. site
and significant.storm drain'improvements along De Berry, Van Buren'
and Pico Streets; . reducing' developable land on:`th;e property by
'approximately*acres.
San Bernardino Association'of Governments, Caltrans, and the'City are
working to replace the <21.5 interchange at Barton Road;.however local
streets that would provide access to the property are not adequate for
the increased:, raffic volume.that-would result from development.'of 1he
property. Significant'curb gutter; and storm drain improvements would
History :be additionally,required
The City's 1988„General. Plan'updated the land use :designation within
tho Project to;allow :light industrial uses; since the retail project uses
envisioned ;within the 1983 General Plan did not.prove viable due to
freeway.'access and other deficiencies. In 2010, .the General Plan was.
updated to re=designate the project ;area, as well as surrounding
:properties as Mixed Use; requiring tho,preparation of the.Specific_Plan. ,
It was;critical:to the City to specify the requirement of a specific plan so
that the project area would develop.,in a cohesive and,orderly manner:
The RDA entered into Memorandum of Understanding':cVOW dated
September: ft 2007 with :developer` Grand Terrace Partners, LLC
("Developer")'following an 'Exclusive N. egotiating.Agreement .("ENA'°)
:with :Developer The-intended use :included recreational commercial
uses. : The;Developer eventually withdrew from the project, however,
due to.insufficient freeway access.
Parcel. B underwent, a lot=line adjustment to accommodate Baseball
Park Project on parcel 1167 151-75. A former single family residence
was demolished on Parcel'F
(The analyses,projections,assumptions,rates of return,and any examples presented herein are for illustrative
purposes and are not a guarantee of actual and/or future results.Project pro forma and tax analyses are projections
- only.Actual results may differ materially from those expressed in this analysis.
ko s Mon,oi� 865 South Fguerca Street;35th Floor Los Angeles California 90017 ph 213A17.3300 fax 213.417.3311
Long-Range Property Management Plan
:
City of.Grand Terrace Successor Agency
October 16;2013
Page 18 of 22
Retention of 446,property by the:Gjty for:future, development consistent;
,r
with its.identification as a;priority non:housing redevelopment project:
within:'the approved and'adopted RDA Five-year Implementation Plan:
Given.the extensive infrastructure improvements required in order to
facilitate viable commercial;development h the future, it is.
L. recorr m6nded to enable the City=to continue assemblage activities as
outlined in the`.approved and adopted. RDA Implementation Plan:
{ Healtfi.and Safety Code Section 34191;5 (c) (2)(A) allows_for the City to
Transfer to retain title to.property for dev 1 ment,that is included in an approved
:Cityfor _
redevelopment plan.:, Thjs::property and,'future comriercial development
Future
Development are consistentwjth the redevelopment plans and objectives f.
Among designated:uses of:proceeds from the.RDA 2011 A•Tax
q..
Allocation Bonds were Spedfic Plan Project Area infrastructure study;
dest �n,.�and constru ction and Storm drain and street rehabilitation on „
g .
Van.Buren; Rico -and Main:Streets.
i
Proceeds from future sale of. the,.property are recommended for
retention by the City:.
q.
q.
IThe analyses projections,assumptions,rates of return and any examples presented herein are for illustrative
purposes and are not a guarantee of actual and/or future results.Project pro forma and tax analyses are projections
- only:Actual,results may differ materially from those expressed in this analysis.
kOS,IIlOn e$5 South Figueroa Street;35th,Floor Los Angeles ;Celiromia: 90017 ph 293.417,33110 fax 213.417.3311
-•mmpanles -
o -_L ng Range Property.Management Plan
City of Grand.Terrace Successor Agency
October 16;20:13
Page 19 of 22'.
Property #5: Baseball Park Proiect
pw
Van Buren St
A
Pico
Park
J
Address
Land:Between 21900 Block of Van Buren Street and 21874
Pico Street
APN 116.7-151-73 & 1167-151-75
Lot'Size 2,97 acres
Use Little League Baseball field acid Baseball Field Access
rZonmg Restricted Manufacturing _..._
General'Pl:an Mixed-Use:(Commercial/Residential Mix)
`.Current Title Ctty of GrandTerrace Successor.Agency .
The analyses projections,assumptions,rates of return and any examples presented harem are for illustrative
. .:
purposes and are not a guarantee of actual and/or future results Project pro forma and'tax analyses are projeotons
Ion1y.Actual results may differ materially from those expressed in this analysis.
1 0ST110T1 t365 South Figueroa$treat;35th Floor Los Angeles California;90017 ph 213 417,3300 fax 213.411.3311
�mP r:
Long-Range Property Management Plan
City of Grand:Terrace Successor Agency
October 10,2013
Page 20 of 22
'BRIW'. Property#5
j!��quisition &Valuati
chh
..........
se Date 11/22/2000
Purchase Price $83,700
Fundm Source Tax increment
.Purpose Acquired.for land assembly and park purposes
Estimate-of;.Current Value, ;$0
Method of:Valuation Non-revenue generating public use
-rl . . -
' rvn Te t:No Ree a is poperty and
. :Contractual Requirements ,,;no.contractual requirements'::
- Prope
None No known history of environmental contamination, designation as
Brownfield site, or remediation.
Transit-Oriented D- . . i '. . . -
Potential for TOD` Not applicable:
The Baseball Park Project is explicitly indicated as one of 14
priority non-housing projects in the approved RDA Five'Year
Agency:Planning Implementation Plan adopted December 8, 2009 for the years
Objectives 2010-2014 for the advancement of Agency objectives.#4
(improve parking and open s ace) a.nd #5 (civic and cultural
_
enhancement).
idei ;aory of Previous Development Proposals and Activities Property#5
Other than.the de: elopment.of the 6Asting baseball-field
{ !History improvements by the RDA,where has been no notable
development prosal activity o po r otheractjwty in connection°with:
this.propertyaince Agency;acquisition.:.,
- lThe analyses,projections,assumptions,rates'of return,and any examples presented`herein are for illustrative
purposes and are not a guarantee of actual,and/or future results.Project pro forma and tax analyses are projections I
only.Actual results may differ materially from those expressed in this analysis.
S M4koST11O1]' 1365 South Figueroa Street;35th Floor Los Angeles califom'ia 90017 ph 213.417.3300 fax 213.417.3311
_.camPanles
Long-Range Property Management Plan .
City of'Grand:Terrace Successor Agency
October 10,2013
Page 21 of 22
WON
:Retention of,.the property b-y the Cit for,government:Use
Y: g
:consistent with its identification as a priority`non housing
redevelopment project within the approved and adopted:RDA
:.: Five-Year lmplemertation Plan. Health and Safety Code,
$ection;34191.5 (c) (2)(Aj,allows for the City to retain titie:t"o -
< property;fo,r�develop`nent that is included in aredevelopment
Transfer to City for
Co.ntin"ued plan and also for government use:
I. Government Use ' .
in addition, on June 25, 2013, and July.17, 2013; the Successor.
Age ncy.and.Oversight Board adopted,respective resolutions
:.:
approving the transfer.of the property to the Gty of:Grand.,:.
Terrace:pursdant to:Health and Safety Code:Sections 34181(a):
d 34191.3.. Oversght.Board action was forwarded to the an ,
:.. DOd.
..
The analyses projecffons,assumptions,rates of return and any examples pres
2T1ted herein are for illustrative '
purposes and are not a'guarantee of actual andlor future results Project pro forma and tax analyses are projections
A J
poly.Actual results may differ materially from those expressed in this analysis. .
koS011 865 South Figueroa Street;35th Floor Losnge Ales California,California90017 ph 213.417,3300. fax 213.417.3311
:
0 L ng-Range Property.Management Plan .
City of:Grand:Terrace Successor Agency
October 16;2011
Page 22 of 22
:3.0: : Attachments
A. Approved: Five-Year Redevelopment Implementation Plan 2009-2014
(adopted December 8, 2009
B.. :Report to City Council on Amendment to Redevelopment Plan (Adopted
P. y . ..
:.. May 11,-2010)
C. Mixed-Use Specific;Plan Project California Department of Fish & Game and
U.S.'Army,Corps of Engineers Wetlands Jurisdictional Maps
D... Mixed-Use Specific Plan Project Storm. Drain Easement.Legaf Description
and Map
q.
E. Tax Certificate for 2011A RDA Tax Allocation: Bonds (including List of
Anticipated Uses)
w.
lThe analyses projections,essumpGons,rates:ot return,and any examples"presented:herein'are for illuStiative
purposes and are not a guarantee of actual,and/or future results.Project pro forma and tax analyses are protections
only:ActuaI results may di8er materially from those expressed in tftis analysis.
kosmon,�,g 865 SoutFi Figueroa Street;35thfloor Los 4ngeles Celitomie goo17 ph213.417,3310 flax 213.417.3311