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07/21/2015 - SPA CITY OF GRAND TERRACE CITY COUNCIL AND SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY AGENDA • JULY 21, 2015 Council Chambers Special Meeting 6 00 PM Grand Terrace Civic Center • 22795 Barton Road The City of Grand Terrace complies with the Americans with Disabilities Act of 1990 If you require special assistance to participate in this meeting, please call the City Clerk's office at (909) 824-6621 at least 48 hours prior to the meeting If you desire to address the City Council and Successor Agency during the meeting, please complete a Request to Speak Form available at the entrance and present it to the City Clerk Speakers will be called upon by the Chair at the appropriate time Any documents provided to a majority of the City Council and Successor Agency regarding any item on this agenda will be made available for public inspection in the City Clerk's office at City Hall located at 22795 Barton Road during normal business hours In addition, such documents will be posted on the City's website at www grandterrace-ca go v <http //www arandterrace-ca gov> CALL TO ORDER Convene the City Council and the Successor Agency for the Community Redevelopment Agency Pledge of Allegiance ROLL CALL Attendee Name ' _ Present # -Absent ,,Late,, Arrived " Mayor Darcy McNaboe ❑ ❑ ❑ Mayor Pro Tem Sylvia Robles ❑ ❑ ❑ Council Member Jackie Mitchell ❑ ❑ ❑ Council Member Doug Wilson ❑ ❑ ❑ Council Member Bill Hussey ❑ ❑ ❑ PUBLIC COMMENT This is the opportunity for members of the public to comment on items on the agenda only At a special meeting of the City Council and Successor Agency, pursuant to California law, the City Council and Successor Agency will only be taking public comment on items listed on the agenda City of Grand Terrace Page 1 -77 'p,�3 1� AGENDA REPORT MEETING DATE July21, 2015 Council & Successor Agency Item TITLE Agreement For Taxing Entity Compensation for disposition of Property #4 pursuant to the City of Grand Terrace's Long Range Property Management Plan PRESENTED BY G Duffey, City Manager RECOMMENDATION Authorize the City Manager/Executive Director of the Successor Agency to commence negotiations with appropriate Taxing Entities for proposed Agreement for Taxing Entity Compensation pursuant to the City's Long Range Property Management Plan and Health and Safety Code ,�34180 2030 VISION STATEMENT This staff report supports Goal #3 "Promote Economic Development" which, in turn, promotes Goal #1 "Ensure Our Fiscal Viability" Approval of Taxing Entities Compensation agreements will allow the City to successfully implement its Long Range Property Management Plan (PMP), to develop, to sell the property for commercial development, to attract new business, and to establish new revenue sources BACKGROUND Health and Safety Code Section 34191 5 required the Successor Agency to submit its Long -Range Property Management Plan (PMP) to the California Department of Finance (DOF) for approval The PMP was approved on April 23, 2015 and pursuant to the DOF direction and the California Health and Safety Code 34180(f)(), the City and the Successor Agency agreed to enter into Compensation Agreement with Taxing Entities to address distribution of proceeds from the sale of property conveyed to the City pursuant to the PMP (Attachment 1) DISCUSSION Although pursuant to Assembly Bill 1x 26 effective February 1, 2012, the Redevelopment Agency of the City of Grand Terrace was dissolved, assets of the Agency, as identified in the City's PMP (Attachment II), still offer an opportunity for the City to achieve its goal of attracting new business and establish new revenue sources However, in order for the City to fully accept property from the Successor Agency and develop it, the City must secure agreements with taxing entities Taxing Entities are California local govern ments-K-1 2 schools, community colleges, cities, counties, and special districts that historically receive a portion of property tax revenues Packet Pg `3' ATTACHMENT I AGREEMENT FOR TAXING ENTITY COMPENSATION This Master Agreement for Taxing Entity Compensation (this "Agreement"), dated for reference purposes as of , 2015, is entered into by and among the Successor Agency to the former Community Redevelopment Agency of the City of Grand Terrace, a public entity established under Health and Safety Code 34173 ("Successor Agency"), the City of Grand Terrace, a California municipal corporation ( "City"), and the "Taxing Entities", the signatories hereto and more specifically identified on Exhibit "A" attached hereto and incorporated herein RECITALS A \Pursuant to Assembly Bill xl 26, effective February 1, 2012, the Redevelopment Agency of the City of Grand Terrace ("Redevelopment Agency") was dissolved, and pursuant to Health & Safety Code Section 34173, the City'elected to serve as the Successor Agency B Pursuant to Health and Safety Code Section 341915, the Successor Agency 0 prepared an Amended Long -Range Property Management Plan ("LRPMP") that addresses m disposition of certain real property formerly owned by the Redevelopment Agency, including the 2 real property commonly known as 21992 and 21974 De Berry Street and the 21900 Block of Q Van Buren Street, APN #s 1167-141-08, 1167-151-68, 1167-151-71, 1167-151-74, 1167-161- o 03, 1167-161-04, 1167-151-22 (the "Property") all located in the City of Grand Terrace, County of San Bernardino, California, and more particularly depicted in page 14 of the LRPMP which page is attached hereto as Exhibit "C" CD C On December 17, 2014, the LRPMP was approved by Resolution of the Oversight Board to the Successor Agency (the "Oversight Board"), a seven -member board established pursuant to Health and Safety Code Section 34179 that includes representatives appointed by the County Board of Supervisors, City, the Superintendent, and San Bernardino Valley Municipal Water District D On April 23, 2015, the State Department of Finance ("DOF") approved the LRPMP E Pursuant to the LRPMP, the Successor Agency shall convey the Property to the City in the manner provided by Health and Safety Code section 34180(f) and in consideration of their approval, the Taxing Entities shall be compensated as provided herein NOW THEREFORE, the Parties agree as follows 1 Purpose This Agreement is executed with reference to the facts set forth in the m foregoing Recitals which are incorporated into this Agreement by this reference The purpose E of this Agreement is to address the allocation of certain prospective revenues among the Taxing Entities entitled to share in the property tax base ("Tax Base") for the Property Q formerly administered by the Redevelopment Agency m 2 Special Districts and Funds The governing boards of certain of the Taxing Entities t administer certain special districts and funds that receive allocations of property taxes from the r r 1 a Packet Pg 5 3 Property to be Conveyed for Development Consistent with Plans The LRPMP provides that pursuant to Health & Safety Code Section 34191 5(c)(2), the Property will be transferred by the Successor Agency to the City for disposition consistent with the Mixed Use Specific Plan that addresses development of the Property and the Grand Terrace General Plan The Taxing Entities each acknowledge that In consideration of its share of the sale proceeds, upon each Taxing Entity's receipt of its share of the sales proceed from all or any portion of the Property, said Taxing Entity relinquishes and has no further interest in the Property or to the portion of the Property from which the sales proceeds were generated 4 Compensation Arrangement The City agrees that, consistent with the LRPMP, in w connection with the conveyance of any of the parcels comprising the Property, made subsequent c to the initial conveyance from Successor Agency to City, the City will remit the Net Unrestricted ai Proceeds to the San Bernardino County Auditor -Controller / Treasurer / Tax Collector for S x distributton to the Taxing Entities in accordance with each Taxing Entity's pro rata share of the H Tax Base of the Property as more specifically set forth in Exhibit `B" attached hereto "Net `o Unrestricted Proceeds" shall mean the proceeds of sale received by the City for the sale of anyL parcel comprising the Property, less (1) costs incurred by City for expenses incurred in connection with the management and disposition of the Property conveyed, including without F limitation, costs incurred for property management, maintenance, insurance, marketing, L CD appraisals, brokers' fees, escrow, closing costs, survey, title insurance, attorneys' and consultants' fees, and other reasonable costs incurred, including reasonable compensation for CD City staff performing functions associated with the management, maintenance and disposition of the Property, and (11) any proceeds of sale that are restricted by virtue of the source of funds (e g grant funds or the proceeds of bonds) that were used for the original acquisition of the Property Upon request, the City shall deliver to the Taxing Entities an accounting of all such costs, d expenses and restricted proceeds L 5 Sale Procedures and Proceeds The Parties acknowledge that City is obligated to convey the Property for development consistent with the LRPMP The Parties further acknowledge that consistent with Senate Bill 470, prior to the disposition of the Property or any part thereof, the City may be obligated to hold a noticed public hearing and prepare a report that includes, among other things (i) an explanation of why the disposition will assist in the creation, retention, or expansion ofjob opportunities, increased property tax revenues, and the development of affordable housing, transit priority projects and sustainable development, and (u) an explanation of the difference between the highest and best use value and the disposition price taking into consideration development constraints and requirements, and the covenants, conditions and development costs required by the sale or lease 6 Compensation Agreement Health and Safety Code Section 341913 provides that once an LRPMP has been approved by DOF, the LRPMP supersedes all other provisions of the statute, relating to the disposition and use of the former redevelopment agency's real property assets With m Oversight Board consent and DOF approval, the City and Successor Agency enter into this s agreement with the Taxing Entities to address the disposition of the Property pursuant to this Long Range Property Management Plan The Parties intend this Agreement to satisfy the a requirement of California Health and Safety Code §34180(f)(1) and the LRPMP m 7 Miscellaneous Provisions c� r w a Y Packet,Pg 7 ; accordance with the laws of the State of California without regard to principles of conflicts of laws Any action to enforce or interpret this Agreement shall be filed and heard in the Superior Court of San Bernardino County, California or in the Federal District Court for the Central District of California SIGNATURES ONFOLL0WING PAGES 0 ti Packet Pg 9 The undersigned authorized signatory hereby executes this Agreement SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE, A PUBLIC ENTITY ESTABLISHED UNDER HEALTH AND SAFETY CODE 34173 By Name Title Attest by c Agency Secretary y L a Approved as to form c Agency Attorney c Address for Notices Successor Agency 22795 Barton Road Grand Terrace, CA 92313 Attn City Clerk SIGNATURES CONTINUE ONFOLLO WING PAGES c d E u 7 a Packet Pg 11 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities and funds Superintendant of Schools SAN BERNARDINO COUNTY SUPERINTENDENT OF SCHOOLS By Name Title Attest by 0 Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLLO WING PAGES m E s U R w 9 a Packet Pg 13 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities Colton Joint USD COLTON JOINT UNIFIED SCHOOL DISTRICT By Name Title Attest by Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLL0WING PAGES Packet Pg 15 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities San Bernardino Valley MWD SAN BERNARDINO VALLEY MUNICIPAL WATER DISTRICT By Name Title Attest by Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLL0WING PAGES 13 0 ti T Packet Pg 17 FISCAL CONSULTANT REPORT TAX RATES The Agency currently receives incremental revenue based on the 1 0% general ad valorem property tax levy There are no tax levies in excess of the 1 percent and the tax increment projections employ a 1 0% general ad valorem property tax levy Parties to the Compensation Agreement shall receive a pro rata share of the sale proceeds of the Property based upon their share of the Tax Base as set forth in the column titled Combined for 2010-2011 Other columns provided for informational purposes only Dollar amounts set forth herein are given for hypothetical purposes only — lOUNT 800,000 FIGURE,10 BREAKDOWN,OFrtPRO.IECT On a oral Amended Combined 2010-11 019971 019971 019971 Taxing Entity 2006-07 2007-08 2008-09 2009-10 $159 768 City of Grand Terrace 019971 019971 019971 019971 1 County General Fund 012717 012717 012717 012717 012715 012717 012717 $101 736 1 Educational Revenue Augmentation Fund 019256 019256 019256 019256 019254 019256 019256 $154,048 1 Flood Control 002257 002257 002257 002257 002257 002257 002257 $18 056 1 Flood Control Admin 000159 000159 000159 000159 000159 000159 000159 $1,272 1 County Library 001231 001231 001231 001231 001231 001231 001231 $9,848 1 County Fire District - - - 010336 010336 010336 010336 $82,688 1 County Service Area 38 010336 010336 010336 - - - - Total County 045956 045956 045956 045956 045952 045956 045956 $367 648 2 Superintendent of Schools 000653 000653 000653 000653 000653 000653 000653 $5,224 3 San Bern Comm College Dist 004469 004469 004469 004469 004469 004469 004469 $35 752 4 Colton Joint USD 026531 026531 026531 026531 026531 026531 026531 $212,248 5 Riverside -Corona Consery Dist 000120 000120 000120 000120 000124 -D 00119 000120 $960 6 San Bern Valley MWD 002300 002300 002300 002300 002300 002300 002300 $18,400 Subtotal 1 00000 1 00000 1 00000 1 00000 100000 099999 100000 $800,000 No Override Tax Increment Revenue - - - - - - Total Tax Levy 1 00000 1 00000 1 00000 1 00000 100000 099999 1 00000 $800.000 Attachment Attachment I - GT Taxing Entity Compensation Agreement (1740 Agreement For Taxing Entity Compensation for disposition of { A ATTACHMENT II Amended Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 1 of 19 AMENDED LONG-RANGE PROPERTY MANAGEMENT PLAN SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE Prepared By RK k0S1on, companies KOSMONT COMPANIES 865 S Figueroa Street, #3500 Los Angeles, CA 90017 Telephone (213) 417-3300 www kosmont com NOVEMBER 13, 2014 The analyses, projections assumptions, rates of return and any examples presented herem are for illustrative purposes and are not a guarantee of actual andfor future results Project pro forma and tax analyses are projections 'A, only Actual results may differ materially from those expressed to this analysis kosAlo n �. 865 SoA Figueroa Street 35th Floor Los Angeles Catifomla 90017 ph 213 417 3300 fax 213417 3311 11 Packet`P 21 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 3 of 19 1.0 Introduction 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 ("SA") 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 Valle Los Angeles County San Bernardino County rg tliLak- .. aks� s.- La.Ganad Bzr�mlriilg5 ` .4. � .r:. t� �ak< - , a �r r` y r �rn e n�iiaie fit;' ar �LBtJac��x 4 "HrdH Arm Pa" sadena att5v�i rr� r ir'L tiu FucaortcJat -t �� � -' on aria San Bernardmo�k U0S G�ELES ���� on Jal�o W s CA �rtapomofa' �-` wv r'e�LAruas A u �. t.. rwroi lr t r as t ' 0 nget > < i11JQ HILLS ro - ogle opd DIAraa11G r � in / `,, • ; r L�' �: �(i�{(` Ei ism �; Moren-o�alley- HArr�trHLA ABRA a rr �Dov�rn y� I.�t 1 �? �X` a, ' ?di, aR Iwrou " F Ilerta s - _ Co'r�na t ra ' �,a , -, , -Grand Torran e�, ° � E�»I � a ; � �,, rr "... � Terrace J City Limits .�. < { Orange e Rana 01BtiEs�G' IIIFJ V.117 sTr SjE T County na'`- FOUNTAIN f1 Y v r1.e 3^I�Oo s Huntington Beach f - sgr�rr�t -r�iY rvrn� tJr s10 rl FJevmor�r ems^, M ! , -, r, t Stagy eSi! FOREST 1 dal LAG I� , t Werside County l. 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 A, only Actual results may differ materially from those expressed in this analysis kosmon d 865 South Figueroa Street 35th Floor Los Angeles Carrfomla SM17 ph 213 417 3300 fax 213 417 3311 PacketPg 23 M V C1 n X M N Amended Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 5 of 19 Exhibit 12 Map of Successor Agency and Housing Authority Properties Successor 4Agencyand Housing Author(tT Owned Properties © AN LE a Proposed Boundaries of Future Project, ��. _ 1 ." �. -= Housing Authority ,(Notpdrt'qf PIMP) �`�`�+ 4C Contnvinfty Development Departrnept 13 i w� Th s map is for reference oary For de led mfarm tin please consult with the Community Development Department # APty Owner Acreage vt 0275-242-21 SA 044 16 0275-242 20 SA 044 Hi 0275-251-04 -1IA 0 D1 2 0276-202-54 SA 033 3 0276-452-10 SA 035 4A 1167-141-08 SA 094 4B 1167-151-74 SA 1565, 4c 1167-151-68 SA r14 94 4D 1167-151-71 SA 497 4E 1167-165--03 SA 290 4F 1167-151-04 SA 025 `H2 1167-233 Ol HA 138 M3 1167-311-01 HA 1.3G 413 1167-151-22 SA 14 55 11119. The analyses projections assumptions rates of return and any examples presented herein are for illustrative purposes and are not guarantee of actual andfor future results Project pro forma and tax analyses are projections only Actual results may differ materially from those expressed in this analysis kosmon o. 865 South Figueroa Street 35th Floor LosAngeles California 90017 ph 213 417 3300 fax 213 417 3311 Attachment Attachment 11 - Long Range Mgmt Plan Without Appendices (1740 Agreement For Taxing Entity Compensation for disposition of Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 7 of 19 Purchase Date 1/272009 (APN #0275-242-11) & 8/1/2009 (APN #0275-242-10) Purchase Price $399,231 Funding Source _ Tax increment'' Purpose Future commercial development in advancement of RDA planning objectives i 6 Estimate of Current Value$350,000 7- f Method of Valuation Professional appraisal obtained by City dated August 23, 2011 No Revenues or Contractual There are no revenues generated by this property;mIand there no� Requirements contractual requirements related to this property Phase,I Environmental"Site Assessment and Limited Phase II r Environmental Site Screening dated March 18 2009, April 15, 2009 and September 11, 2009 No known history of u environmental contamination, designation as Brownfield site, or , remediation was identified _ a CL During the aforementioned escrow, a subsequent Phase 1 Assessment was conducted by O'Reilly, which identified a 10 # 0 Soil Removal cubic yard sod pile, as a Recognized Environmental Concern Required (REC) Additional soil sampling of the soil pile determined the t, stockpile,contains non -hazardous levels of diesel and motor oil., range hydrocarbons As a condition to the close of escrow, O'Reilly was requiring the Agency to remove the soil from the a, property To properly dispose of the soil pile to the appropriate " "! treatment storage disposal facility, additional analysis for VOC's a, and metals is required The Agency has Included the anticipated cost of soil' removal on c ` the Recognized Obligation Payment Schedule ("ROPS") —I m E �a r a w d E ITha a"a' 41 projections assumptions rates of return and any examples presented herein are for Illustrative P.rposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projections R Z - only Actual results may differ materially from those expressed in this anaysms Q kosmon� 865 South Figueroa Street, 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 27 Property #2 22747 Barton Road Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13, 2014 Page 9 of 19 ,C�ty Hall 0 T Address 4 22747 Barton Road APN 0276-202-54 Lot S¢e 0 33 acres (14,375 square feet) Use Vacant Land Zoning BRSP — Office Professional Current Title City of Grand Terrace Successor Agency c m E ea w w Q c d E s 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 w FAM only Actual results may differ materially from those expressed in this analysis Q kosmon 865 South Figueroa Street, 35th Floor Las Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 29 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 11 of 19 Property #3 Vista Grande Park Protect f Address 22720 Vista Grande Wav i APN 0276-462-10 Lot, Size 0 35 (15,246 square feet) Use Vacant Land Zoning' a Residential (R1-20) Current Title City of Grand Terrace Successor Agency Purchase Date Purchase Price $60,000 Funding Source Tax increment Eliminate public nuisance (red -tagged, foreclosed Purpose residential structure) and provide for open space or future civic use Estimate of Current Value $0 Method of Valuation Non -revenue generating public use with consideration of unstable geotechnical conditions The analyses, projechons assumptions rates of return and any examples presented hereut are for illustrative purposes and are not a guarantee of actual andfor future results Project pro forma and tax analyses are projections - only Actual results may differ matenally from those expressed in this analysis kosmon,, 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 0 _ 0 w N O ta. W V L _ 0 r R N C t7f tZ E 0 V C W 0 C K O F L O LL c d E d d L t� Q Packet Pg 31 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 13 of 19 Retention of the property by the City for government use consistent with its identification as a priority non -housing redevelopment project within the approved and adopted RDA Five -Year Implementation Plan Health and Safety Code Section 34191 5 (c) (2)(A) allows for the City to retain title to property for development that is included in a redevelopment plan and also for government use On May 14, 2013, and June 5, 2013, the Successor Agency and Oversight Board adopted,, respective resolutions approving the w Transfer to City transfer of the property to the City of Grand Terrace pursuant to S for Government Health and Safety Code Sections 34181(a) and 34191 3 On x cts Use October 15, 2013, the DOF disallowed the transfer as the dog park F' has not yet been constructed However, development of the property U° as a dog park as identified in the adopted RDA 5-Year Implementation Plan is the best use of the property, and is viable m E Given the unstable geotechnical conditions of the property, one m m `at possible future use is a dog park as proposed by a community a volunteer organization Vista Grande Park construction costs were explicitly indicated among designated uses of proceeds from the f v RDA 2011A Tax Allocation Bonds c 0 E r, cts .r a c m E 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 w PA, only Actual results may differ materially from those expressed m this analysis Q ICOSM On 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 477 3300 fax 213 417 3311 Packet Pg 33 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13, 2014 Page 15 of 19 11 /22/2000 1167-151-68, 71, 74 ;^ ` 07/21 /2005 11,67-161-04 a rQ Purchase Date:' 08/16/2005 1167-161-03 - r 10/25/2005 1,167-141-08 �� 07/29/2011 1167-151-22 1167-141-08 — $245,280 1167-151-22 — $1,393,702 1167-151-68 — $500,191 Purchase Price 1167-151-71—$166,395 1167-151-74 — $523,962 1167-161-03 — $899,953 1167-161-04 — $409,701 Total — $4,139,184 [__ Tax increment,, proceeds from the RDA Tax Allocation 7 Funding Source r �aW f Bonds Issue of 2011 B _ arrrnncp Land assembly for large commercial protect in advancement of RDA C m, 1167-141-08 — $283 500 a 1167-151-22 — $0 ($927,800 before adjustment for wetlands mitigation) ~' 1167-151-68 — $0 ($976,100,before adjustment for storm water mitigation) Estimate of " , 1167-151-71 — $0 ($216,400 before adjustment for storm water mitigation) I Current Value ` r r ° 1167-151-74 — $0 ($1 022 500 before adj4ustment for wetlands mitigation) i 1167-161-03 — $479,100.. w ` 1167-161-04 — $43,500 Total — $806 100 i Method of Valuation uomparaoie sales evaluation No Revenues or There are no revenues generated by this property and no Contractual - n, contractual requirements It should be noted that Parcels C and ,D ` Requirements include approximately 1 1 acres of anticipated, storm drain ` easements > . . . . . . • . .. 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 rly e analyses projections, assumptions rates of return and any examples presented herein are for illustrative rposes and are not 8 guarantee of actual and/or future results Project pro forma and tax analyses are projections . Actual results may differ materially from those expressed in this analysis kosi . O tt� 865 South Figueroa Street, 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 35 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 17 of 19 For more than two decades, the City 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 the property -by approximately`4 acres San Bernardino Association of Governments, Caltrans, and the City are working to replace the 1-215 interchange at Barton Road, however local streets that would provide access to the property are not adequate for - the increased traffic volume that would result from development of the 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 the 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 the 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 x The RDA entered into a Memorandum of -Understanding ("MOU") dated September 11, 2007 with developer <Grand Terrace Partners, LLC ("Developer") following an, Exclusive Negotiating 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 harem are for dlustrahve purposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projectionsil ® only Actual results may differ matenally from those expressed in this analysis kosmo pia 865 South Figueroa Street, 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 0 v r` Packet Pg 37 l Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13, 2014 Page 19 of 19 3.0 Attachments A Approved Five -Year Redevelopment Implementation Plan 2009-2014 (adopted December 8, 2009) B I Report to City Council on Amendment to Redevelopment Plan (Adopted 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 Dram Easement Legal Description and Map E Tax Certificate for 2011A RDA Tax Allocation Bonds (including List of Anticipated Uses) 0 ,r T to m tJ 70 C d Q. Q. Q f 3 O Z a+ C t4 a a� a� a� c 0 c d E R Q m E s The analyses projections, assumptions, rates of return and any examples presented hetem are for illustrative w purposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projections -In only Actual results may differ materially from those expressed in thm analysis Q kosmp ass South Flgueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet,Pg 39 City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 2 of 7 History The parcels comprising the Property were assembled by the City's former Redevelopment Agency ("RDA") between 2000 and 2011 with RDA tax Increment funds for the purpose of a large, freeway -oriented commercial development project in advancement of RDA planning objectives Since before Property acquisition, the City has attempted to foster development in the Property area (also known as the Southwest Commercial Site), however, significant required drainage, sewer, and road infrastructure improvements have hampered development i The City's 1988 General Plan updated the land use designation for the Property to allow light industrial uses, since the retail project uses envisioned within the 1983 General Plan did not prove viable due to insufficient 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 the preparation of the Mixed Use Specific Plan ("Specific Plan"), which has not been completed to date The intended purpose of the Specific Plan was to allow for a mix of commercial and residential uses and foster the development of the Property in a cohesive and orderly manner The former RDA entered into a Memorandum of Understanding ("MOU") dated September 11, 2007 with developer Grand Terrace Partners, LLC ("Developer") following an Exclusive Negotiating Agreement ("ENA") with the Developer The proposed use included recreational, retail commercial, and residential uses The Developer eventually withdrew from the project due to insufficient freeway access 0 Property parcel 1167-151-74 underwent a lot -line adjustment to accommodate a baseball park n project on parcel 1167-151-75 A former single family residence was demolished on Property parcel 1167-161-04 Existing Conditions The General Plan land use designation for the Property is Mixed Use (commercial/residential mix) The underlying zoning is delineated as follows 1167-141-08, 1167-151-22, 1167-161-03, 04 Commercial Manufacturing 1167-151-71, 74 Restricted Manufacturing 1167.151-68 M-2 Industrial Surrounding uses include predominantly industrial uses to the north, east, and west across the 1-215 Freeway, and educational (high school) and park uses to the south The Property is comprised of vacant land and contains approximately 4 0 acres of wetlands as designated by the California Department of Fish and Game and the U S Army Corps of Engineers that will be required to be maintained on -site Per the City Engineering Department, development of the Property will require retention basins on -site and significant storm drain 1601 Sepulveda #382 Manhattan Beach California 90266 ph 213 417 3300 fx 213 417 3311 www kosmontrealty corn c d E cv ram.. ao Packet Pg 41 City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 4 of 7 IV Valuation Analysis — Sales Comparison Approach Exhibit D details an analysis of recent comparable sales for the subject Property The average price of land among comparable sales evaluated was approximately $11,100 per acre The comparable sales were reasonably similar to the subject Property In terms of location, existing use (vacant land), overall size, zoning (with one exception), and timing (within two years) Three of the comparable sales (properties 2, 4, and 5) were oriented near major arterials similar to the subject Property, and so the Property Is estimated at a value higher than the overall average evaluated In order to be more consistent with the higher values associated with these similarly oriented comparable sales Based on the above considerations, the comparable sales analysis yields an estimated value for the Property between $14,000 and $16,000 per acre, or approximately $755,000 to $865,000 Per -Acre Land Value Estimated Property Value $14,000 $757,400 $15,000 $811,500 $16,000 $865,600 VI Conclusion — Broker Opinion Value Based on the sales comparison analysis methodology, KRC estimates that the value of the Property Is between $14,000 and $16,000 per acre, or approximately $755,000 to $865,000 n T - • • I II - __ - • - fPer Acre Value $14,000 $16,000 i Estimated Total (Rounded) $755,000 $865,000 > m �o w Note This evaluation is a broker opinion of value (`BOV') It Is not an appraisal Should a more = detailed evaluation of property value and characteristics be required, a formal appraisal should 2 be completed 0 N L d Y O L m C E .0 V Q 3 V E V cc 1601 Sepulveda #382 Manhattan Beach Califomia 90266 ph 213 417 3300 N 213 417 3311 www kosmontrealty com Q PacketPg 43 City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 6 of 7 Exhibit B — City Location Map -I_--- t I GraridfTerrace Cji ;Boundary —''___. _. ry -v°t4(�S�>� yl I r "'"''y __ a.,,- r A �.a #�„e •.�=^nyy .. }rit .,mot t rF e`. "`3, "k Y'ti3rl �s .ti" �x[' �y�c ''r r `..�, rc sdr{w f� I i .. ^P" �� � � y...•. t t �rq yj —1 1F t('S ` f �j +lil� GraKde' e zIt �f $ 3r {t TerrAei jays.,,�v �CSQ. �C'v JrE 9 _! wton1� Rcl - _ �t v — if tm Auar �gi _�.I ail2�ll� Roiltn VICC 73µ 1�s na F'Lk _L 1 a� ='Van Buren* -- 5 , 6 , Source ESRI (2015) 1601 Sepulveda #382 Manhattan Beach Caltfomta 90266 ph 213 417 3300 & 213 417 3311 www kosmontrealty com Packet 'Pg 45 'PI Exhibit D - Comparable Sales Valuation Analysis Mixed Use Specific Plan Property 215 Freeway South of Barton Road, City of Grand Terrace Subject Property City Gross Acreage Net Acreage* Mixed Use Specific Plan Property 215 Freeway South of Barton Road Grand Terrace 54 10 ACI 46 10 AC Comparable Sales (Details Attacheal) City Sale Date Sale Price Lot Size (Acres) Price / Acre Price / SF 1) Radford Camp Road Angelus Oaks 5/7/2015 $ 156 500 4000 $ 3 913 $ 009 2) McCall St Menefee 2/26/2015 $ 69,000 4000 $ 1 725 $ 004 3) Playground Dr Twin Peaks 12/31/2014 $ 216 500 4528 $ 4 781 $ Oil 4) 20369 Gusten Road Perris 4/8/2014 $ 400,000 3142 $ 12,731 $ 029 5) 4295 Lytle Creek Rd Fontana 3/11/2014 $ 1 650 000 4830 $ 34 161 $ 078 6) Wabash Dr Lake Arrowhead 9/11/2013 $ 490 000 5172 $ 9,474 $ 022 Average (Mean) 1 1 $ 497,000 42 79 $ 11,131 $ 026 Subject Valuation - Sensitivity Analysis Subject Property Size -Gross Low Median 54 10 ACI 54 10 ACI Mean 54 10 ACI High 54 10 AC Average Comparable Price / Acre $ 4,781 $ 11,102 $ 11,131 $ 34 161 Average Comparable Price / SF $ Oil $ 025 $ 026 $ 078 Subject at Average Pricer $ � 258,672 $ 600,641 $ 602,180 $ _ 1,848,137 Subject Property Size - Net 46 10 ACI 46 10 ACI 46 30 ACI 46 10 AC Average Comparable Price / Acre $ 4 781 $ 11,102 $ 11,131 $ __ 34 161 Average Comparable Price / SF $ Oil $ 025 $ 026 $ 078 Subject atAvgrage Price° " _ $ 220;421 '$ ._ 511,821 $ . 513,133 $ 1,574,845 Notes 1) Net Acreage = Project Area with developable land, not including approximately 4 0 acres of wetlands as designated by the California Department of Fish and Game and the US Army Corps of Engineers to be maintained on site and approximately 4 0 acres of land required for retention basins and storm drain improvements along De Berry, Van Buren, and Pico Streets to be installed by the City of Grand Terrace 2) Comparable Sales = Land Sales within the most recent 2 years between 25 and 75 acres within approximately 25 miles of the subject property Source Costar Property, LoopNet (2015) theem Ipm projcebona oo pUonr mtoeal,rNurn and wy acmnpeoepmo=nWd here[. are roc7lM tmt??— purpaawendacenotapuernb of and ts--lenceyaea ere praiecbona bnly.rnWal rdW16 May TRofM10,bf Ally fi0ift'so opra5S ,lrhtlrS arWIY64 3cosny , a 8N$SCUM MAU O SIMM 3511'Ifbx WSAnaeks GsiGaf IA 9DO17 02IZ41- M03 ra1l213 417 3mi 7/10/2015 Attachment Attachment III - Broker's Opinion of Value (BOV) (1740 Agreement For Taxing Entity Compensation for disposition of Property #4 fl No Phcvi Provaied r MIFM No Photo Pawdr-d No P6olo Provided z, K Address Radford Camp Road Angelus Oaks CA 92305 0 Mccall Menifee "CA 92586 - - Playground Dr Twin Peaks CA 92391 20369 Cusdn Road, Pems CA 92570 - 4295 Lytle Creek Ftd Fontana CA 92336 Wabash Cake,Arrowhead CA 92352 Property Type Land Land Land Land Land Land Property Subtype CommeraallOtherpand) CommerciallOther(land) Residential (land) CommercieUOther(land) Commercal/Other(land) CommerciallOther(land) Lot Size 40 00 Acfes 40 00 Acres 45 28 Acres 31 4ZAcres 48 30'Acres 5172 Acres APN / Parcel ID 0305-241-14 287-180-022 0239-072-01 0331-241-28 Sale Date 05/07/2015 02/26/2015 12/31/2014 04/08/2014 03/1 I/2014 09/11/2013 Sale Price $156 500 - $69 000 S216 500 $400 000, $1,650 000- $490 000 Sale Price Per $3,912 50/Acre $1,725/Acre S4,781 36/Acre $12 730 74/Acre S34,161 49/Acre $9,47_4 09/Acre m A R �D M to UAttachment Attachment III -Broker's Opinion of Value (BOV) (1740 Agreement For Taxing Entity Compensation for disposition of Property )#4 F � , I I rvt,�: c are e-&Ds o 1 d 4-lii- Sze Ol l� p- ,e IAJ d �S O-n — 'A�S es C.eue.Q I G'lCe�'Q w now I�v�- `- g-do' l * 5 "OLLO � �� � vu, s - - s III 11soh "- -Li ot 4-e 4-tkk Too F �� 2 w 1-4 CCD�PF �1 �? 7 J& JIMG-,L ; G-k /y�y oar u� aLv e - I aro -ej, GLo".,,vL OLLwakk(Qr-�� 'bon OQ s�2 CID F �v coo Ad - Z45� rt ? i i W C� UP i P CITY OF GRAND TERRACE CITY COUNCIL AND SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY AGENDA • JULY 21, 2015 Council Chambers Special Meeting 1 6 00 PM Grand Terrace Civic Center • 22795 Barton Road The City of Grand Terrace complies with the Americans with Disabilities Act of 1990 If you require special assistance to participate in this meeting, please call the City Clerk's office at (909) 824-6621 at least 48 hours prior to the meeting _r If you desire to address the City Council and Successor Agency during the meeting, please complete a Request to Speak Form available at the entrance and present it to the City Clerk Speakers will be called upon by the Chair at the appropriate time Any documents provided to a majority of the City Council and Successor Agency regarding any item on this agenda will be made available for public inspection in the City Clerk's office at City Hall located at 22795 Barton Road during normal business hours In addition, such documents will be posted on the City's website at www grandterrace-ca qov <http //www grandterrace-ca qov> CALL TO ORDER (p' cop M- At this time, I would convene the Special City Council and the Successor Agency for the Community Redevelopment Agency Meeting Pledge of Allegiance Please join I/GC%V-� in leading us in the Pledge of Allegiance ROLL CALL -Attendee<Name :y ,Prese t,_,, Absent `;Late Arrived Mayor Darcy McNaboe 9 ❑ ❑ Mayor Pro Tern Sylvia Robles ❑ ❑ Council Member Jackie Mitchell ❑ ❑ Council Member Doug Wilson ❑ ❑ Council Member Bill Hussey Ky ❑ ❑ A PUBLIC COMMENT This is the opportunity for members of the public to comment on items on the agenda only At a special meeting of the City Council and Successor Agency, pursuant to California law, the City Council and Successor Agency will only be taking public comment on items listed on the agenda City of Grand Terrace Page 1 i Agenda Grand Terrace City Council tt Successor Agency July 21, 2015 B OPEN SESSION 1 Legislative Update —Oral Presentation C i 4q " U For any questions the Council Members may have on item 2 please direct them to City Manager Duffey , f I I SOPI 2 Agreement For Taxing Entity Compensation for disposition of Property #4 pursuant to the City of Grand Terrace's Long Range Property Management Plan RECOMMENDATION Authorize the City Manager/Executive Director, of the Successor Agency to commence negotiations with appropriate Taxing Entities for proposed Agreement for Taxing Entity Compensation pursuant to the City's Long Range Property Management Plan and Health and Safety Code §34180 �'L� "'lij ryl�`22 b I�-i.vt�' !�a �- +tkii; , iv- ow—. 3 Comprehensive Approach to Property Development/Economic Development — PowerPoint Presentation RECESS TO CLOSED SESSION q ' 2 2 p. rn - C CLOSED SESSION 4 CONFERENCE WITH REAL PROPERTY NEGOTIATORS - Pursuant to Government Code Section 54956 8 Property APN Nos 1167-151-22, 1167-151-74, 1167-151-71, and 1167-151-68 Agency negotiator G Harold Duffey, City Manager/Agency Director Negotiating parties Lewis Group Under negotiation Price and Terms of Payment RECONVENE TO OPEN SESSION —1; 5 8 REPORT FROM CLOSED SESSION .1—� ADJOURN The Next Regular City Council Meeting will be held on Tuesday, July 28, 2015 at 600pm Agenda item requests must be submitted in writing to the City Clerk's office no later than 14 calendar days preceding the meeting City of Grand Terrace Page 2 A CITY OF GRAND TERRACE CITY COUNCIL AND SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY AGENDA • JULY 21, 2015 Council Chambers Special Meeting 6 00 PM Grand Terrace Civic Center a 22795 Barton Road The City of Grand Terrace complies with the Americans with Disabilities Act of 1990 If you require special assistance to participate in this meeting, please call the City Clerk's office at (909) 824-6621 at least 48 hours prior to the meeting If you desire to address the City Council and Successor Agency during the meeting, please complete a Request to Speak Form available at the entrance and present it to the City Clerk Speakers will be called upon by the Chair at the appropriate time Any documents provided to a majority of the City Council and Successor Agency regarding any item on this agenda will be made available for public inspection in the City Clerk's office at City Hall located at 22795 Barton Road during normal business hours In addition, such documents will be posted on the City's website at www arandterrace-ca go v <http //www arandterrace-ca gov> CALL TO ORDER Convene the City Council and the Successor Agency for the Community Redevelopment Agency Pledge of Allegiance ROLL CALL Attendee Name—, z s Present Absent Late Arrived Ma or Darcy McNaboe ❑ ❑ ❑ Mayor Pro Tem Sylvia Robles ❑ ❑ ❑ Council Member Jackie Mitchell ❑ ❑ ❑ Council Member Doug Wilson ❑ ❑ ❑ Council Member Bill Hussey ❑ ❑ ❑ PUBLIC COMMENT This is the opportunity for members of the public to comment on items on the agenda only At a special meeting of the City Council and Successor Agency, pursuant to California law, the City Council and Successor Agency will only be taking public comment on items listed on the agenda City of Grand Terrace Page 1 t - t s_. i 0 AGENDA A REPORT MEETING DATE July 21, 2015 Council & Successor Agency item TITLE Agreement For Taxing Entity Compensation for disposition of Property #4 pursuant to the City of Grand Terrace's Long Range Property Management Plan PRESENTED BY G Duffey, City Manager RECOMMENDATION Authorize the City Manager/Executive Director of the Successor Agency to commence negotiations with appropriate Taxing Entities for proposed Agreement for Taxing Entity Compensation pursuant to the City's Long Range Property Management Plan and Health and Safety Code U4180 2030 VISION STATEMENT This staff report supports Goal #3 "Promote Economic Development" which, in turn, promotes Goal #1 "Ensure Our Fiscal Viability" Approval of Taxing Entities Compensation agreements will allow the City to successfully implement its Long Range Property Management Plan (PMP), to develop, to sell the property for commercial development, to attract new business, and to establish new revenue sources BACKGROUND Health and Safety Code Section 34191 5 required the Successor Agency to submit its Long -Range Property Management Plan (PMP) to the California Department of Finance (DOF) for approval The PMP was approved on April 23, 2015 and pursuant to the DOF direction and the California Health and Safety Code 34180(f)(), the City and the Successor Agency agreed to enter into Compensation Agreement with Taxing Entities to address distribution of proceeds from the sale of property conveyed to the City pursuant to the PMP (Attachment 1) DISCUSSION Although pursuant to Assembly Bill 1 x 26 effective February 1, 2012, the Redevelopment Agency of the City of Grand Terrace was dissolved, assets of the Agency, as identified in the City's PMP (Attachment II), still offer an opportunity for the City to achieve its goal of attracting new business and establish new revenue sources However, in order for the City to fully accept property from the Successor Agency and develop it, the City must secure agreements with taxing entities Taxing Entities are California local govern ments-K-12 schools, community colleges, cities, counties, and special districts that historically receive a portion of property tax revenues Packet Pg 3 ! - k ATTACHMENT I AGREEMENT FOR TAXING ENTITY COMPENSATION This Master Agreement for Taxing Entity Compensation (this "Agreement"), dated for reference purposes as of , 2015, is entered into by and among the Successor Agency to the former Community Redevelopment Agency of the City of Grand Terrace, a public entity established under Health and Safety Code 34173 ("Successor Agency"), the City of Grand Terrace, a California municipal corporation ( "City'), and the "Taxing Entities", the signatories hereto and more specifically identified on Exhibit "A" attached hereto and incorporated herein RECITALS A Pursuant to Assembly Bill xl 26, effective February 1, 2012, the Redevelopment Agency of the City of Grand Terrace ("Redevelopment Agency") was dissolved, and pursuant to Health & Safety Code Section 34173, the City elected to serve as the Successor Agency B Pursuant to Health and Safety Code Section 341915, the Successor Agency E prepared an Amended Long -Range Property Management Plan ("LRPMP") that addresses d disposition of certain real property formerly owned by the Redevelopment Agency, including the real property commonly known as 21992 and 21974 De Berry Street and the 21900 Block of Q Van Buren Street, APN #s 1167-141-08, 1167-151-68, 1167-151-71, 1167-151-74, 1167-161- 03, 1167-161-04, 1167-151-22 (the "Property") all located in the City of Grand Terrace, County of San Bernardino, California, and more particularly depicted in page 14 of the w LRPMP which page is attached hereto as Exhibit "C" m C On December 17, 2014, the LRPMP was approved by Resolution of the Oversight Board to the Successor Agency (the "Oversight Board"), a seven -member board established pursuant to Health and Safety Code Section 34179 that includes representatives appointed by the County Board of Supervisors, City, the Superintendent, and San Bernardino Valley Municipal Water District D On April 23, 2015, the State Department of Finance ("DOF") approved the LRPMP E Pursuant to the LRPMP, the Successor Agency shall convey the Property to the City in the manner provided by Health and Safety Code section 34180(f) and in consideration of their approval, the Taxing Entities shall be compensated as provided herein NOW THEREFORE, the Parties agree as follows 1 Purpose This Agreement is executed with reference to the facts set forth in the m foregoing Recitals which are incorporated into this Agreement by this reference The purpose E of this Agreement is to address the allocation of certain prospective revenues among the Taxing Entities entitled to share in the property tax base ("Tax Base") for the Property Q formerly administered by the Redevelopment Agency m 2 Special Districts and Funds The governing boards of certain of the Taxing Entities administer certain special districts and funds that receive allocations of property taxes from the r w � a Packet Pg 5 3 Property to be Conveyed for Development Consistent with Plans The LRPMP provides that pursuant to Health & Safety Code Section 34191 5(c)(2), the Property will be transferred by the Successor Agency to the City for disposition consistent with the Mixed Use Specific Plan that addresses development of the Property and the Grand Terrace General Plan The Taxing Entities each acknowledge that in consideration of its share of the sale proceeds, upon each Taxing Entity's receipt of its share of the sales proceed from all or any portion of the Property, said Taxing Entity relinquishes and has no further interest in the Property or to the portion of the Property from which the sales proceeds were generated 4 Compensation Arrangement The City agrees that, consistent with the LRPMP, in Y connection with the conveyance of any of the parcels comprising the Property, made subsequent c to the initial conveyance from Successor Agency to City, the City will remit the Net Unrestricted Proceeds to the San Bernardino County Auditor -Controller / Treasurer / Tax Collector for S distribution to the Taxing Entities in accordance with each Taxing Entity's pro rata share of the X Tax Base of the Property as more specifically set forth in Exhibit `B" attached hereto "Net o Unrestricted Proceeds" shall mean the proceeds of sale received by the City for the sale of any r parcel comprising the Property, less (1) costs incurred by City for expenses incurred in m connection with the management and disposition of the Property conveyed, including without m limitation, costs incurred for property management, maintenance, insurance, marketing, appraisals, brokers' fees, escrow, closing costs, survey, title insurance, attorneys' and Q consultants' fees, and other reasonable costs incurred, including reasonable compensation for City staff performing functions associated with the management, maintenance and disposition of the Property, and (u) any proceeds of sale that are restricted by virtue of the source of funds (e g r grant funds or the proceeds of bonds) that were used for the original acquisition of the Property Upon request, the City shall deliver to the Taxing Entities an accounting of all such costs, m expenses and restricted proceeds L 5 Sale Procedures and Proceeds The Parties acknowledge that City is obligated to convey the Property for development consistent with the LRPMP The Parties further acknowledge that consistent with Senate Bill 470, prior to the disposition of the Property or any part thereof, the City may be obligated to hold a noticed public hearing and prepare a report that includes, among other things (1) an explanation of why the disposition will assist In the creation, retention, or expansion ofjob opportunities, increased property tax revenues, and the development of affordable housing, transit priority projects and sustainable development, and (11) an explanation of the difference between the highest and best use value and the disposition price taking into consideration development constraints and requirements, and the covenants, conditions and development costs required by the sale or lease 6 Compensation Agreement Health and Safety Code Section 341913 provides that once an LRPMP has been approved by DOF, the LRPMP supersedes all other provisions of the statute, relating to the disposition and use of the former redevelopment agency's real property assets With m Oversight Board consent and DOF approval, the City and Successor Agency enter into this s agreement with the Taxing Entities to address the disposition of the Property pursuant to this Long Range Property Management Plan The Parties intend this Agreement to satisfy the Q requirement of California Health and Safety Code §34180(f)(1) and the LRPMP m 7 Miscellaneous Provisions z ca r r 3 Q Packet Pg 7 accordance with the laws of the State of California without regard to principles of conflicts of laws Any action to enforce or interpret this Agreement shall be filed and heard in the Superior Court of San Bernardino County, California or in the Federal District Court for the Central District of California SIGNATURES ONFOLL0WING PAGES 0 v Packet Pg 9 The undersigned authorized signatory hereby executes this Agreement SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE, A PUBLIC ENTITY ESTABLISHED UNDER HEALTH AND SAFETY CODE 34173 By E 0 U Name Title c a� c x F- Attest by `o U- r c m E Agency Secretary L a Approved as to form c Agency Attorney c Address for Notices Successor Agency 22795 Barton Road Grand Terrace, CA 92313 Attn City Clerk SIGNATURES CONTINUE ONFOLLOWING PAGES 7 a 11 Packet Pg 11 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities and funds Superintendant of Schools SAN BERNARDINO COUNTY SUPERINTENDENT OF SCHOOLS By _ Name Title Attest by Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLLO WING PAGES 0 ti Packet Pg 13 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities Colton Joint USD COLTON JOINT UNIFIED SCHOOL DISTRICT By Name Title Attest by Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLL0WING PAGES 11 The undersigned authorized signatory hereby executes this Agreement on behalf of the following entities San Bernardino Valley MWD SAN BERNARDINO VALLEY MUNICIPAL WATER DISTRICT By Name Title Attest by Approved as to form Address for Notices SIGNATURES CONTINUE ONFOLLOWING PAGES 13 a Packet Pg 17 EXHIBIT B FISCAL CONSULTANT REPORT TAX RATES AMOUNT The Agency currently receives incremental revenue based on the 1 0% general ad valorem property tax levy There are no tax levies in excess of the 1 percent and the tax increment projections employ a 1 0% general ad valorem property tax levy Parties to the Compensation Agreement shall receive a pro rata share of the sale proceeds of the Property based upon their share of the Tax Base as set forth in the column titled Combined for 2010-2011 Other columns provided for informational purposes only Dollar amounts set forth herein are given for hypothetical purposes only $800,000 .._. FIG-.IJRE<10 :BREAKDOWN Onainal Amended Combined Taxina Entity 2006-07 2007-08 2008-09 2009-10 2010-11 City of Grand Terrace 019971 019971 019971 019971 019971 1 0 19971 019971 $159 768 1 County General Fund 012717 012717 012717 012717 012715 012717 012717 $101 736 1 Educational Revenue Augmentation Fund 019256 019256 019256 019256 019254 019256 019256 $154,048 1 Flood Control 002257 002257 002257 002257 002257 002257 002257 $18,056 1 Flood Control Admin 000159 000159 000159 000159 000159 000159 000159 $1 272 1 County Library 001231 001231 001231 001231 001231 001231 001231 $9,848 1 County Fire District - - - 010336 010336 010336 010336 $82,688 1 County Service Area 38 010336 010336 010336 - - - - Total County 045956 045956 045956 045956 045952 045956 045956 $367 648 2 Superintendent of Schools 00065.3 000653 000653 000653 000653 000653 000653 $5 224 3 San Bern Comm College Dist 004469 004469 004469 004469 004469 004469 004469 $35 752 4 Colton Joint USD 026531 026531 026531 026531 026531 -0 26531 1 026531 $212 248 5 Riverside -Corona Consery Dist 000120 000120 000120 000120 000124 000119 000120 $960 6 San Bern Valley MWD 002300 002300 002300 002300 002300 002300 002300 $18,400 Subtotal 1 00000 1 00000 1 00000 100000 1 00000 099999 1 00000 $800 000 No Override Tax Increment Revenue - - - - - - Total Tax Levy 1 00000 1 00000 1 00000 1 00000 1 00000 0 99999 1 00000 $800.000 Attachment Attachment I - GT Taxing Entity Compensation Agreement (1740 Agreement For Taxing Entity Compensation for disposition of ATTACHMENT II Amended Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 1 of 19 AMENDED LONG-RANGE PROPERTY MANAGEMENT PLAN SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE Prepared By k0S On Mon KOSMONT COMPANIES 865 S Figueroa Street, #3500 Los Angeles, CA 90017 Telephone (213) 417-3300 www kosmont corn NOVEMBER 13, 2014 0 w w Q w ,r d E s R.JThe analyses projections assumptions rates or return and any examples presented herein are for illustrative R 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 Q kosmoat� 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213417 33f1 Packet Fig 21 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 3 of 19 1.0 Introduction 1 1 Background 8r Purpose Health and Safety Code Section 34191 5, added by AB 1484 (signed Into law on June 27, i 2012), requires each Successor Agency ("SA") 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 Los Angefes County , tavonada,rp{tnS9fl %�� G endaie'� ° � ,o Mve�r Nr{r� its 4 �F'{ sartena" r�,,�15�vir1� f L�BI clne� w� IWs+eiir;Yk iao...,,.,nA 'To ttanc ar J—?F80"U1,1T11F Verd-s. Huntington Bea( San Bernardino County ', t , L Arrocvll.:acl �1 t ` SN,,e.��r- HIG 71,� •��`'��,�, bn aria ts` n�gerharciina,-y- t; 11� ELArws T HILL : G"utrm v ?ty1flGl= i4,,' rrLrrtt�Rr�*Morena�Tley ,r w fly 4F Her Grand Terrace AB _ y I'D City Limits Qran_ j ge a at 3�eao ff , e`-��• �' `-- CAEi Coun T1 tY Ana :,� �. ; „„ 4�..,.-� .• • trr�f.� p =� _ >: k rjrv(ne is�aririJ`.:� sta Mestrd�4sr'«bsfl=w`, x F ,^ , Riverside County LAG ULA The analyses projections assumptions, rates of 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 R only Actual results may differ materially from those expressed in this analysis kosmon1 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 0 ti N d c m CL CL O t R FL m a� 0 O J as E t 0 ca w Q .r c m E t V r Q Packet Pg 23 Amended Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 5 of 19 Exhibit 12 Map of Successor Agency and Housing Authority Properties Successor -Agency -and dousing Authority,, Owned Properties I;_� _.r.AN Boundaries of Future Project, SA Ar8pertles Housing Authority ,4L /t/ Lur_ uu „ �„<,.u�. , ,,la „ emu.,...„. u Conunu,tStyy f?eveSopmentDepartmentt,,� fi-6-'[3 Thwmapx for refereneeonly Fordetruledinfonnaaon pteasecansufiwdhtheCommunlyDevelopmentDepartment # APN Owner Acreage 1A 0275-242-11 SA, 044 113 0275-242-10 SA 044 Hi 0275-251-04 IIA ozi 2 0276-202-54 SA 033 3 0276-452-10 SA 035 4A 1167 141-08 SA 094 413 1167-151-74 SA 1565, 4C 1167-151-69 SA 1494 4U 1167 151.71 SA 497 4E 1167-161-03 5A 280 4F 1167-151-04 5A 025 H2 1167-231-01 14A 138 H3 1167-311-01 HA 1,30 4G 1167-151-22 SA 1455 The analyses projections assumptions rates of return and any examples presented herein are forillustrative 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 ttus analysis 1Cosm on,�, 865 South Figueroa Street 35th Floor LosAngeles Caldonua 90017 ph 213 417 3300 fax 213 417 3311 Attachment Attachment 11 - Long Range Mgmt Plan Without Appendices (1740 Agreement For Taxing Entity Compensation for disposition of Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 7 of 19 Purchase Date 1/272009 (APN #0275-242-11) & v,` 8/l /2009 (APN #0275-242r 9 0) - Purchase Price $399,231 Funding Source Tax ncrem_ent Purpose Future commercial development in advancement of RDA planning objectives rEstimate of Current Value ' $350,000 Method of Valuation Professional appraisal obtained by City dated August 23, 2011 .. ®. -. No Revenues or There are no revenues generated by this property, and there njo , Contractual contractual requirements related to.this property, 4Requirements Phase I Environmental, Site Assessment and Limited Phase II - x. Environmental Site Screening dated March 18 2009, April 15, i w 2009 and September 11, 2009 No known history,of environmental contamination, designation as Brownfield site, or' - t remediation was identified v `" y �> ,Soil Removal a ` Required s During the aforementioned escrow;' a subsequent Phase 1 Assessment was conducted by O'Reilly, which identified a 10 cubic yard soil pile, as a Recognized`Environmental Concern ., (REC) Additional soil sampling of:the soil pile determined the l stockpile contains non -hazardous levels of diesel and motor oil range hydrocarbons As a condition to the close of escrow, O'Reilly,was requiring the Agency to remove the sod from the property To properly=dispose of the soil pile to the appropriate treatment storage disposal facility, additional analysis for VOC's z : and metals is required The Agency has included the anticipated cost of soil removal on -`- the Recognized Obligation Payment Schedule ("ROPS") The analyses prolechons 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 prolechons ® only Actual results may differ materially from those expressed In this analysis kosmo ttrn 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 0 n Q Packet Pg 27 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 9 of 19 Property #2 22747 Barton Road 0 T —1—,.ram Address .,:,::' -r22747 Barton Road APN 0276-202-54 .^-^.......+�.'o-m^•—••c. ,Yw17 Lot`Size 0 33 acres�(14,375 square feet) ti Use Vacant Land Zoning: SRSP — Office Proms fessional Current Title City of Grand Terrace Successor Agency d E r, R a c m E s AmThe analyses protections 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 Q kosmo'n iT 865 South Figueroa Street, 35th Floor Los Angeles Cal fomia 90017 ph 213 417 3300 fax 213.417 3311 Packet Pg 29- Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13, 2014 Page 11 of 19 Property #3 Vista Grande Park Protect [ Address 22720 Vista Grande Way, APN 0276-462-10 Lot S¢e 0 35 (15,246 square feet) Use Vacant Land Zornng Residential (R1-20) } Current Title City of Grand Terrace Successor Agency x Purchase Date 6/9/2009 1 Purchase Price $60,000 Funding Source Tax increment Eliminate public nuisance (red -tagged, foreclosed Purpose residential structure) and provide for open space or future civic use _ �E�`stimate of Current Value Method of Valuation Non -revenue generating public use with consideration of unstable geotechnlcal conditions The analyses projections assumptions 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 projections - only Actual results may differ materially from those expressed m this analysis kos m Ong 865 South Figueroa Street 35th Floor Los Angeles Califomra 90017 ph 213 417 3300 fax 213 417 3311 rPacket Pg 31 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 13 of 19 Retention Hof the property by the City for government; use consistent with its identification as a prionty non -housing redevelopment project within the approved andr adopted RDA Five -Year Implementation t Plan Health and Safety Code Section 34191 5 (c) (2)(A) allows for the City to retain title to property for development that is included in a redevelopment plan and also for government use F , On May 14, 2013, and June 5, 2013, the Successor Agency 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 Health and Safety Code Sections 34181(a) and 34191,3 On Use October 15, 2013, the DOF disallowed°the transfer as the dog park has not yet been constructed However, development of the property as a dog park as identified in the adopted RDA 5-Year Implementation Plan is the best use of the property, and is viable Given the unstable geotechnical conditions of the property, one possible future use is a dog park as proposed by a community volunteer organization Vista Grande Park construction costs were explicitly indicated among designated uses of proceeds from the RDA 2011A Tax Allocation Bonds 0 r` a� E s a w d E s 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 r - only Actual resuits may differ materially from those expressed in this analysis Q kasmo� 065 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 33 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 15 of 19 I 11 /22/2000 1167-151-68,, 71, 74 } 07/21 /2005 1167-161-04 Purchase Date 08/16/2005 1167-161-03 10/25/2005 1167-141-08 n I" h 07/29/2011 1167-151=22., ` 1167-141-08 — $245,280 1167-151-22 — $1,393,702 i 1167-151-68 — $500,191 Purchase Price 1167-151-71—$166,395 1167-151-74 — $523,962 1167-161-03 — $899,953 1167-161-04 — $409,701 Total — $4,139,184 Funding Source Tax increment, including proceeds from the RDA Tax Allocation —` Bonds Issue of 2011 B Purpose Land assembly for large commercial project in advancement of RDA planning objectives _ .+r"Y^z=rs-.•-•®®•.•..,...._....-a^c�•.�.—.•,-..•w t-....a�Pv�a-o m.ro•.�v®-e-.-•�s.--...-..5....-w.w..�-.._w.�-•A^,^"S I 5 1167-141-08 — $283,500 1167-151-22 — $0 ($927,800 before adjustment for wetlands mitigation), 1167-151-68 — $0 ($976,100 before adjustment for storm water mitigation) Estimate of 1167-151-71 — $0 ($216,400 before adjustment for storm water mitigation) Current Value ' 1167-151-74 — $0 ($1,022,500 before adjustment for wetlands mitigation) f 3' 1167-161-03 — $479 100 ` +; I 1167-161-04 — $43,500 , Total - $806,1100 Method of Comparable sales evaluation Valuation No Revenues or There are no revenues generated by this property and no Contractual contractual requirements It should be noted that Parcels C and D include approximately 111 acres of anticipated storm dram Requirements,: easements 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 prolechons assumptions rates of return and any examples presented herem are for dlustrehve purposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projections PAR only Actual results may differ matenally from those expressed In this analysis kosmon"t,,� 865 South Figueroa Street, 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 35 Long -Range Property Management Plan City of Grand Terrace Successor Agency November 13 2014 Page 17 of 19 For more than two decades, the City 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 x 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 the, property aby ,approximately 4 acres v`z San Bernardino Association of Governments, Caltrans, and the City, are working to replace the 1-215 interchange at Barton Road however local streets that would provide access to the property are not adequate for the increased traffic volume that would result from development of the property Significant curb, gutter, and storm dram improvements would History ',be additionally required The City's 1988 General'Plan updated the land use designation within the 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 a"s Mixed Use, requiring the preparation of-the`Specific Plan It was critical to the City to' specify the requirement of a specific plan, so that the project area woula,develop in a cohesive and orderly manner MThe RDA entered into a Memorandum of;Understanding ("MOU") dated September 11`, 2007 with developer Grand Terrace, Partners, LLC ("Developer") following an Exclusive Negotiating Agreement ("ENA',) .with, Developer The intended use included recreational commercial uses The Developer eventually withdrew from the p�olect, however, due to insufficient freeway access ti U �a 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 hefem are for illustrative purposes and are not a guarantee of actual and/or future results Project pro forma and tax analyses are projections RA4on1 only Actual results may differmatenally from those expressed in this analysis kosma 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Packet Pg 37 R l � Long -Range Property Management Plan Cq of Grand Terrace Successor Agency November 13, 2014 Page 19 of 19 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 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 Dram Easement Legal Description and Map E Tax Certificate for 2011A RDA Tax Allocation Bonds (including List of Anticipated Uses) 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 projectio FAX nnss only Actual results may ddfer materially from those expressed in this analysis kosm on t 865 South Figueroa Street 35th Floor Los Angeles California 90017 ph 213 417 3300 fax 213 417 3311 Q PacketwPg 39 • it ' City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 2 of 7 History The parcels comprising the Property were assembled by the City's former Redevelopment Agency ("RDA") between 2000 and 2011 with RDA tax Increment funds for the purpose of a large, freeway -oriented commercial development project in advancement of RDA planning objectives Since before Property acquisition, the City has attempted to foster development in the Property area (also known as the Southwest Commercial Site), however, significant required drainage, sewer, and road infrastructure improvements have hampered development i The City's 1988 General Plan updated the land use designation for the Property to allow light industrial uses, since the retail project uses envisioned within the 1983 General Plan did not prove viable due to insufficient 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 the preparation of the Mixed Use Specific Plan ("Specific Plan"), which has not been completed to date The intended purpose of the Specific Plan was to allow for a mix of commercial and residential uses and foster the development of the Property in a cohesive and orderly manner The former RDA entered into a Memorandum of Understanding ("MOU") dated September 11, 2007 with developer Grand Terrace Partners, LLC ("Developer") following an Exclusive Negotiating Agreement ("ENK) with the Developer The proposed use included recreational, retail commercial, and residential uses The Developer eventually withdrew from the project due to insufficient freeway access ✓ 0 Property parcel 1167-151-74 underwent a lot -line adjustment to accommodate a baseball park n project on parcel 1167-151-75 A former single family residence was demolished on Property parcel 1167-161-04 Existing Conditions The General Plan land use designation for the Property is Mixed Use (commercial/residential mix) The underlying zoning is delineated as follows 1167-141-08, 1167-151-22, 1167-161-03, 04 Commercial Manufacturing 1167-151-71, 74 Restricted Manufacturing 1167-151-68 M-2 Industrial Surrounding uses include predominantly industrial uses to the north, east, and west across the 1-215 Freeway, and educational (high school) and park uses to the south The Property is comprised of vacant land and contains approximately 4 0 acres of wetlands as designated by the California Department of Fish and Game and the U S Army Corps of Engineers that will be required to, be maintained on -site Per the City Engineering Department, development of the Property will require retention basins on -site and significant storm drain 1601 Sepulveda #382 Manhattan Beach California 90266 ph 213 417.3300 N 213 417 3311 www kosmontrealty coin c m E .c cc a 5- Packet Pg 41 City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 4 of 7 IV Valuation Analysis — Sales Comparison Approach Exhibit D details an analysis of recent comparable sales for the subject Property The average price of land among comparable sales evaluated was approximately $11,100 per acre The comparable sales were reasonably similar to the subject Property In terms of location, existing use (vacant land), overall size, zoning (with one exception), and timing (within two years) Three of the comparable sales (properties 2, 4, and 5) were oriented near major arterials similar to the subject Property, and so the, Property Is estimated at a value higher than the overall average evaluated In order to be more consistent with the higher values associated with these similarly oriented comparable sales Based on the above considerations, the comparable sales analysis yields an estimated value for the Property between $14,000 and $16,000 per acre, or approximately $755,000 to $865,000 Per -Acre Land Value Estimated Property Value $14,000 $757,400 $15,000 $811,500 $16,000 $865,600 VI Conclusion — Broker Opinion Value Based on the sales comparison analysis methodology, KRC estimates that the value of the Property Is between $14,000 and $16,000 per acre, or approximately $755,000 to $865,000 Per Acre Value $14,000 $16,000 Estimated Total (Rounded) $755,000 $865,000 Note This evaluation is a broker opinion of value (`BOV') It is not an appraisal Should a more detailed evaluation of property value and characteristics be required, a formal appraisal should be completed 1601 Sepulveda #382 Manhattan Beach Califomia 90266 ph 213 417 3300 N 213 417 3311 www kosmontrealty com a Packet Pg 43 2 of = a City of Grand Terrace KRC Broker Opinion of Value July 10 2015 Page 6 of 7 Exhibit B — City Location Map - t 1 Grand Terrace { ,Cl i Bounda 4�S /�/} ` i F k p ���ry mac? y� '� r � i� �.ti% f i lM�p� � '�"��`✓.r^^ '^cr��-�gs,w F� �.__ `- n J t M ` F Sit � ! -1D �^ � iYPF +itrr �'l' � IV.'!. Si .. .,F +ea j{s�� �✓ � ry TT � ..? 'T�CfOcO.__ arton`Rd = i Ii,�: . _ - , f f 7 paten Fnie z� J ll, r�f^t—jyt =-c�Oet3�rF9tm�Q--Riuhard----'�—` PA It " o 'Van Bureal. sIC" Via' I!_=�pP 1t i �II,f}Y7L1 34 4 i`...1 4- —"•--- x� �j I _ �3 p ir~ _ - a CitStyl(16� III 1LI Source ESRI (2015) 1601 Sepulveda #382 Manhattan Beach Califomia 90266 ph 213 417 3300 N 213 417 3311 www kosmontrealty com i N Packet Pg 45 I V 0) n W M 4 Exhibit D - Comparable Sales Valuation Analysis Mixed Use Specific Plan Property 215 Freeway South of Barton Road City of Grand Terrace Use Specific Plan Property 215 Freeway South of Barton Road lGrand Terrace 54 10 ACI 46 10 AC Comparable Sales 1) Radford Camp Road (Details Angelus Oaks 5/7/20151 $ 156,500 1 4000 1 $ 3 913 1 $ 009 2) McCall St Menefee 2/26/2015 $ 69 000 4000 $ 1725 $ 004 3) Playground Dr Twin Peaks 12/31/2014 $ 216 500 4528 $ 4 781 $ Oil 4) 20369 Gusten Road Perris 4/8/2014 $ 400 000 3142 $ 12,731 $ 029 5) 4295 Lytle Creek Rd Fontana 3/11/2014 $ 1 650 000 4830 $ 34 161 $ 078 6) Wabash Dr Lake Arrowhead 9/11/2013 $ 490,000 5172 $ 9,474 $ 022 Average (Mean) I I $ 497,000 4279 $ 11,131 $ 026 Subject Valuation - Sensitivity Subject Property Size Gross Analysis Low 54 10 ACI Median 5410ACI Mean 54 10 ACI High 54 10 AC Average Comparable Price / Acre $ 4 781 $ 11 102 $ 11 131 $ 34 161 Average Comparable Price / SF $ Oil I $ 025 $ 026 $ 078 Subject at Average Price _ $ 258,672 $ 600,641 $ 602,180 1 $ 1,848,137 Subject Property Size Net 46 10 AC 46 10 AC 46 10 AC -46 10 AC Average Comparable Price / Acre $ 4 781 $ 11 102 $ 11 131 $ 34 161 Average Comparable Price / SF $ Oil $ 025 $ 026 $ 078 Subject at Average Price." $ 220,421 $,' 511,821 $ 513,133 $_ 1,574,845 Notes 1) Net Acreage = Project Area with developable land, not including approximately 4 0 acres of wetlands as designated by the California Department of Fish and Game and the U S Army Corps of Engineers to be maintained on site and approximately 4 0 acres of land required for retention basins and storm drain improvements along De Berry Van Buren and Pico Streets to be installed by the City of Grand Terrace 2) Comparable Sales = Land Sales within the most recent 2 years between 25 and 75 acres within approximately 25 miles of the subject property Source CoStar Property LoopNet (2015) Trtamroly* projochona a*oumpnona rot** of mfurn and any euaneplcapre*antaa hcrcla are for eomro Wo purp-wand—nGa guemnlae o'ectuaiarmor futures r Ita rN,:g Apro fa-ra* end tax enelyaaaare preiactana OhIY.AsWal CiWla muJQ Rcf ald�C(dlly frvnYU�ee„�c55C1rh tit'-alldlyil.. kosI 2.11 .0 665SOW11 Finuef09 Slfeet 351h Fi= Las Anpetes g3190r1173 9DD17 eh 213417330D fsx 213A17 3311 7/10/2015 Attachment Attachment III - Broker's Opinion of Value (BOV) (1740 Agreement For Taxing Entity Compensation for disposition of Property #4 46 No Photo Provided m No Photo Provided No Pt,ofu Panw19d Address Radford Camp Road Angelus Oaks CA 92305 0 McCall Menifee, CA 92586 Playground Dr Twin Peaks CA 92391 20369 Gustin Road Perris CA 92570 4295 Lytle Creek Rd Fontana CA 92336 Wabash Lake Arrowhead CA 92352 Property,Type Land Land Land Land Land Land Property Subtype CommeraaVOther (land) CommerciallOthim(land) Residential (land) CommeraallOther (land) Commeraal/Other (land) Commercial/Other (land) Lot Size 40 00 Acres 40 00 Acres 45 28 Acres 3142,Acres 48 30 Acres 5172 Acres APN /,Parcel ID 0305-241-14 287-180-022 0239 072-01 10331-241 28 Sale Date 05/07/2015 02/26/2015 12J31/2014 04/08/2014 03%11/2014 09/112013 Sate Price $156 500 $69 061) $216 500 $400 000 , $1,650 000 $490 000 Sale Price Per $3;912 50/Acre $1 725/Aare $4781 36/Acre $12 730 74/Acre $34,161 49/Acre $9,47.4 09/Acre I co Attachment Attachment III - Broker's Opinion of Value (BOV) (1740 Agreement For Taxing Entity Compensation for disposition of Property #4 7/21/2015 HdL,-,, COMPANIES Economic Development Services www ECONSolutlonsByHdl-com N EC®NSolui�onsH ByHdL'� Barry Foster bfoster@hdlcompanies com 909 861 4335 F www hdiwmpanies com cell 957 233 0414 1340ValloyVo Ya Dnvo 7200 Diamond Bar Ca6fotnia 91765 E C O N Solutions HdL,-,,CABOUT US By HdL ECONSoultions by HdL was started to further assist local governments by providing a number of economic development related services including ➢ Community Profiles ➢ Trade Area & Vold Analysis ➢ Site Selection Assistance ➢ Business Attraction Support ➢ Economic Development Action Plans ➢ Financial Analysis & Revenue Projections ➢ Reuse and Redevelopment Studies ECONSolutions by HdL can help customize a program to fit the specific economic development needs and budget considerations of a prospective client HdL based in Diamond Bar California has been providing over 380 local governments with professional consulting services and software systems for over 30 years HdL has the largest privately held data base in California and is able to provide expert in depth revenue forecasts and updates on economic trends HdL is recognized as a leader in financial analysis data analysis market studies and economic/revenue forecasts 1 L , 7/21/2015 ECONSolutions By HdL SCOPE OF WORK FOR GRAND TERRACE ➢Growth and Revenue Projection Report for Grand Terrace ➢Prepared Community Profile Report for Grand Terrace ➢ExI lore reuse possibilities at Grand Terrace Shopping Center (SWC of1Barton Rd/Mt Vernon Aver ➢Facilitate a developer to acquire 2-acre Stringfield Property on Barton Rd ➢Prepared a Consumer Demand & Market Supply Assessment, combined with a Void Analysis to determine possibilities for Barton Rd users ®� ton Yme D m66d&S Set SnPPHAfis 5—t ECONSolutions �_`Y\ wwnsu wmi &�.iat�F.iS m �P.mtuea�� T1W+63 wnmva�a./onerw.�ete.,v By HdL oemov.a�33 P�1nui ssTa 12As3 st.�Pw�am�.eme3�. vgvuemxawxrer seAP3 sons 11,39P f4f56 �aPfL PepW+6m SP3 IVxmdIN6f SB,,65 M 9913 SY aib�celoletemm� 1fAif 421P NbdMau EuaE6C�mbb Nw�a'+QG�bNfa 1An 115 i,026 Rhm3nibwta151emm $A5,= $13S 56st66 C-- Mvtei Opp -"v Compmer Ede BY E5f6EP—. DevuM S-Riv BDP)S—P Dem6vd 5.10, FP.LMo3lnavana SA$1M— S26Aa1,22s .S2.11 i-1 5)in ns SET9I— lMVGe�bal5Mdw6a5pm S11P,6ny5 $96,9s2939 (SM-DIM S2$6P — S>;-W" PaWMe(ado'lEnsicsum SV61.w S—A63 t537m." 51.P6iJ36 EP SpedN1oo05enre S%Wk— S$N9AT4 413A."M St,58l,5sa �6P6tb nnctLtnE6ut+uFmmtl is nJp�dmf@bpmmyLpplgSmys 5156= sulk" S90601 50133A39 (52Au"A 02 43 IM] Ss cTo6ie SL6IDAP1 St3$6iP SLMM E�aavanv73w6�rca 5f$635655 StSA36AIG (SSQ$o) 52634663 S. Bi4Pi6 Yfnaint63tlun We+mn(nmswnl «* SmnNu3a S$MS3t SL1SL36p S*--- sLlfs3ff 6555.669) ErinAR SL40�— S&-%— SP SP lhe6MsWMa5la,e Sz-- S2,63L4 M122--] UK— 540,9. B.ftrwRnw.L+ 6cnoa.ie) MUSuyplaySWmavIGR SL6yAn S4f3Lo21 S4473T63 S456S JSi T169526 SL6tL11S $--.— SIOM"3 SIOA11 S912A33 1px4y(4F2<a(UaNn6oad� sc=— 59A53$53 SLfS$539 11A62.126 SL3$336 gir6EaCSav9Nulsa $.A4%, 1 S1$6LL16f SLn166T SL1T9a1 Um— SpeNrgrmy3mut/railn�m:mmsm gpiten2 512,1sLE35 6439L19f 53$6+3rn S.11 2 S "A- SAU= S2,.L63S S.A.— 536vTm SP 6 Sme Aa61,— S12,692A93 5"k-W SL71XM W'.z. OOEurEAoro S58,226,392 551 J563T S6,m9,iN S1PA69)37 53—,— f�nM1v�Stutl Sgf3{mt S1$T65As 54nPA59 $2A3 . SP tb,A.6sn.orxlywm IbnpTvnWvq}mrtf SW f61 58.552R[i 344365,561 516}3TXS S61 1A1a A,—,— ST T6� SL93$En S5.-- 445 I.rtom4 yy3,m„e,e,Te, 3r ftWf Moll'" S$nLSfs S$3oM6 SSA2SSM SptlWysaa04vu SSAv-S 51535'Ai j9j36$. $LTacf16 S1161 Ha V.(pynpiyMRany PPw6WwVptld WM U.A.N23 S%USA66 S.'-- 531,35163E f1SA33A11 S22AUAD s1L-- SkOSSA76 5362LN6 $2.W3AP 0• m3rn4uo SN,9J4933 ST$36P,2ST 3S S$53E.569 SSPP.661 eYwnwuwf5wP3mwmoa Sn�E3655 51n,1V1,1P2 S--- 56 519565eP am6n.srsbn s9L5E1,5E1 ➢P,SPS W.V.3P611A93 96492E $24589.155 56,SnFS fOOQrySiwa Aurpnotl� WYc6 54L61L6L5 515gWD,513 sM S3f$61,— S36 ,6M,ST1 Sn$3U91 S2f1GL623 53E,i4,lD 136,013pi3 s]—An 512822A35 &SAS,saivimpfrunwio Ioe. ilN6lV S11Ia3i1nP�faawd 1-103 3 d - ;i 7/21/2015 E e O N Solutions By HdL STATUS OF WORK Targeted users that denied interest in former 25,500 s f Stater Bros store include 99 Cents Only Big 5 Sporting Goods Cardenas Smart & Final Extra Superior Grocers Aldi Big Lots Jon s Marketplace Sprouts I ➢Ongoing interest from IE based grocery market (has 7 locations in San Bernardino and Riverside counties) ➢Some interest from 2 fitness club users ➢Letter of Intent executed for developer to acquire Stringfield Property and Purchase & Sale Aggreement being finalized ➢Marketing interest from Quick Service Restaurants and Discount Retailers ➢Consider possibility of acquiring city owned 3 acre property to create 5 Acre Project 5 Demographics Population 5 Year Population estimate Population Households Group Quarters Population Households 5 Year Households estimate WorkPlace Establishments Workplace Employees Median Household Income Consumer Demand & Market Supply Assessment For Market Grand Terrace Market Definition Barton Rd and Mt Vernon Ave / City of Grand Terrace Date Report Created 7/21/2015 - -- -- - - - 3 Miles --- - - -- - - - 55 971 58 183 55 445 526 18 365 19,259 1 417 37 304 $45 138 Consumer Market Opportunity By Establishments Demand Supply Gap/Surplus Full Service Restaurants $46,326,961 $26 042 275 ($20,284,686) Other General Merchandise Stores $118 018 335 $98 457,939 ($19 560,397) Book/Periodical/Music Stores $4 561,787 $843 883 ($3,717 904) Special Food Services $9 669 851 $6 649 874 ($3 019,978) Direct Selling Establishments $7 563 881 $4,876 883 ($2,686 998) Lawn/Garden Equipment/Supplies Stores $6 621 605 $4 133 499 ($2,488,105) Electronics/Appliance $16,445,094 $15,856 614 ($588,480) Vending Machine Operators (Non Store) $6 709 238 $6 124 229 ($585,009) Flonsts/Misc Store Retailers $1353 380 $1 195 531 ($157 849) Used Merchandise Stores $2,753,626 $2 631062 ($122 564) Bar/Drinking Places (Alcoholic Beverages) $3 482 237 $4,471 763 $989 526 Office Supplies/Stationary/Gift $6,933 424 $8 565 758 $1 632 334 Jewelry/Luggage/Leather Goods $6 502 018 $9,457,553 $2 955 534 Other Misc Store Retailers $10 495 657 $13 612 754 $3 117 097 Sporting Goods/Hobby/Musical Instrument $12,753,879 $16 843 797 $4 089 918 Shoe Stores $6,391,196 $10 714 256 $4 323 060 Beer/Wine/Liquor Stores $7 755 073 $12,497 493 $4 742 420 Clothing Stores $48 226 392 $54 285 637 $6 059 244 Furniture Stores $8 994 071 $15 765,055 $6 770,984 Limited Service Eating Places $46 497,861 $54 165 583 $7 667 722 Home Furnishing Stores $8 552 863 $16,537 935 $7 985,071 Automotive Parts/Accessones/Tire $15 360 039 $23 691 554 $8 331 515 Specialty Food Stores $5,827,350 $15 357 879 $9 530 530 Health/Personal Care Stores $50,401,323 $70 225 194 $19 823,872 Other Motor Vehicle Dealers $9 235 805 $31 357 638 $22 121 833 Department Stores $24 974 912 $76 300 257 $51 325,345 Building Material/Supplies Dealers $47 383,655 $113 701 702 $66 318 047 Gasoline Stations $92 181 581 $160 130 509 $67,948,928 Grocery Stores $83,422,688 $196 674 034 $113 251 347 Automotive Dealers $150 000,953 $367 644 577 $217 643 623 EC O NSolutlions By HdL Grand Terrace _ 12 053 12 390 11 950 104 4 413 4,580 215 3 076 $65 466 Consumer Demand $7 217 115 $26 004 486 $1 004,128 $1 587 544 $1 670 668 $1 488 301 $2 634 563 $1 437 771 $303,994 $616 846 $459 096 $1 376 598 $1 462 976 $2 379 721 $2 871 834 $1 434 425 $1 723 296 $10 869 347 $2 031 937 $7 788 205 $1,916 617 $3,382,049 $1 286 916 $11 107 503 $2 095,876 $5,538,569 $10 472 392 $20 589 195 $18 385 129 $34 043 413 Market Supply $4 796 815 $12 632 361 $0 $620 686 $136 470 $1 783,261 $2 844 818 $0 $0 $50 982 $30 812 $942 843 $2,328,336 $1 392 120 $389,782 $0 $879,234 $3,386,909 $0 $5 628,413 $913 445 $3 624 520 $7 598 $3,421 840 $2 753 610 $100 667 $3 955 540 $4,521,035 $7 374 000 $12,877 435 ($2 420 ($13 372 ($1004 ($1,534197) $294 960 $210 256 ($1,437,771) ($303 994) ($565 864) ($428 284) ($433 755) $865 361 ($987,601) ($2,482 052) ($1,434 425) ($844 062) ($7 482 438) ($2 031937) ($2,159 793) ($1 003 172) $242 472 ($1,279,318) ($7 685 663) $657 735 ($5 437 902) ($6,516 852) ($16,068 160) ($11011 129) ($21,165 978) ©SDS a division of x span results inc Data by STI All rights reserved Page 1 of 3 l S ED S By Major Product Lines Computer Hardware/Software/Supplies Alcoholic Drinks Served at the Establishment Meats/Nonalcoholic Beverages Books/Periodicals Pets/Pet Foods/Pet Supplies Sewing/Knitting Materials/Supplies Small Electric Appliances Photographic Equipment/Supplies Optical Goods (ind Eyeglasses Sunglasses) Audio Equipment/Musical Instruments Household Fuels (ind Oil LP gas Wood, Coal) Furniture/Sleep/Outdoor/Patio Furniture Toys/Hobby Goods/Games Paper/Related Products Childrens Wear/Infants/Toddlers Clothing Curtains/Draperies/Slipcovers/Bed/Coverings Soaps/Detergents/Household Cleaners Lawn/Garden/Farm Equipment/Supplies Kitchenware/Home Furnishings Jewelry (including Watches) Televisions/VCR/Video Cameras/DVD etc Footwear including Accessories Major Household Appliances Automotive Lubricants (incl Oil Greases) Mens Wear Cigars/Cigarettes/Tobacco/Accessories Paints/Sundries/Wallpaper/Wall Coverings Drugs/Health Aids/Beauty Aids/Cosmetics All Other Merchandise Womens/Juniors/Misses Wear Floor/Floor Coverings Sporting Goods (ind Bicycles/Sports Vehicles) Packaged Liquor/Wine/Beer Automotive Tires/Tubes/Batteries/Parts Hardware/Tools/Plumbing/Electrical Supplies Dimensional Lumber/Other Building Materials Retailer Services Automotive Fuels Groceries/Other Food Items (Off Premises) Autos/cars/Vans/Trucks/Motorcycles Consumer Demand & Market Supply Assessment For Market Grand Terrace Market Definition Barton Rd and Mt Vernon Ave / City of Grand Terrace Date Report Created 7/21/2015 EC O NSolutlons By HdIL v 3 Miles Grand Terrace Consumer Market Opportunity Consumer Market Opportunit Demand Supply Gap/Surplus Demand Supply Gap/Surplu $28,141 573 $8,094,829 ($20 046 744) $2 314 029 $1 162 717 ($1 151 31: $18,299 662 $11 810 961 ($6 488 701) $2 318 743 $1 375 483 ($943 26( $93,432 833 $87,362,542 ($6,070,291) $15,642 477 $9,768,114 ($5 874,36' $5 817 262 $2 135 936 ($3 681 326) $1 302 950 $116 761 ($1,186 19( $6,484,254 $6,328 082 ($156 172) $1,518,477 $582 600 ($935,87� $660 132 $976 587 $316 455 $145 579 $28,503 ($117 07( $1 203,305 $2 083 564 $880 259 $275 591 $106 780 ($168 811 $808 938 $1 823 287 $1014,349 $186 549 $224 069 $37 52( $2 716,869 $3,799,216 $1 082 347 $631 880 $235 198 ($396,68: $4,460,836 $5,779,931 $1 319 096 $1,020,830 $489 174 ($531 65( $3 053 670 $4 575 289 $1,521,618 $670 089 $156 367 ($513,72; $21 883 366 $23 629 541 $1 746 175 $4 947 005 $579 026 ($4,367,97! $4 633 656 $6,540 095 $1 906 439 $1 020,886 $324 072 ($696 812 $4 250 403 $6 899 493 $2 649 090 $940 587 $336 846 ($603 74: $4,932 525 $8 070,626 $3 138 101 $1 094 425 $354 186 ($740 23! $3 332 293 $6,617,073 $3 284 780 $792 868 $285 446 ($507 42' $4,900 452 $8 185 558 $3 285 106 $1,091 362 $372 461 ($718 90: $13 212 158 $16,590,071 $3 377 913 $2 960 087 $1 903 300 ($1 056 78� $9 785 541 $13 353 252 $3 567 711 $2,189 624 $706 060 ($1483 56: $10 551 237 $14 279 109 $3 727 872 $2 369 889 $2 355 711 ($14171 $5 462,540 $9,216,879 $3 754 339 $1,220,821 $939 819 ($281 00: $14,047,343 $18 166 696 $4 119 354 $3 149,735 $315,938 ($2 833,79, $2 347 128 $6 550 856 $4,203 729 $587 718 $441 830 ($145,88£ $2 347 128 $6 550 856 $4,203,729 $587 718 $441 830 ($145 88£ $13 255 223 $17 939,293 $4 684 070 $3,040,479 $804 402 ($2 236 07; $14,860 653 $19,649,584 $4 788 931 $3,157,744 $1,015,694 ($2,142,05: $3 624 636 $8 546 640 $4 922 004 $791 316 $305,002 ($486,312 $104,411 075 $110 334,378 $5 923 303 $22 941,703 $4,687,662 ($18 254 04: $31 468 528 $37 869 212 $6,400,684 $7,157 517 $2,922 824 ($4 234 69: $34 820,640 $41 534 245 $6 713 604 $7,816,527 $1,919 219 ($5 897,30E $7 126 519 $14 329 162 $7 202 644 $1 556 299 $619,812 ($936,48, $10,825,860 $18,611,227 $7 785 367 $2,437,386 $1,183,240 ($1,254,14( $16 839 570 $27 959 691 $11 120 122 $3 782,976 $1295 164 ($2 487 81: $26 452 864 $38,404 441 $11951,576 $5,799,232 $3 853,620 ($1,945,61: $12 624 827 $28 591,207 $15 966 380 $2,804,368 $1,058,853 ($1 745 51( $20,258,928 $47 284,259 $27 025 331 $4 426 333 $1,654 709 ($2,771 62� $25,891,720 $59,777 816 $33 886 096 $6,013,666 $2,911,151 ($3 102 51! $92 687 523 $148 306 203 $55 618 680 $20 812 281 $4 767 673 ($16 044 60£ $143 956 959 $225 784 122 $81 827,163 $31 987 212 $5 936 767 ($26,050,44! $129,532 461 $318 635,877 $189 103 417 $29 374 848 $11 751 233 ($17,623 61( ©SDS a division of x span results me Data by STI All rights reserved Page 2 of 3 sns Consumer Demand &Market Supply Assessment � � � � �ol��� o ns For Market Grand Terrace Market Definition Barton Rd and Mt Vernon Ave / City of Grand Terrace �� Date Report Created 7/21/2015 3 Miles Grand Terrace Data for this report is provided via the Market Outlook database from Synergos Technologies, Inc (STI) Market Outlook is based on the following - • the Consumer Expenditure Survey (CE), a program of the Bureau of Labor Statistics (BLS), • the U S Census Bureau's monthly and annual Retail Trade (CRT) reports, • the Census Bureau's Economic Census, with supporting demographic data from STI PopStats data and STI WorkPlace Market Outlook data covers 31 leading retail segments and 40 major product and service lines The difference between demand and supply represents the opportunity gap or surplus available for each retail outlet cited on the Market Outlook report for the specified trade area or reporting geography When the demand is greater than (or less than) the supply, there is an opportunity gap (or surplus) for that retail outlet In other words, a negative value signifies an opportunity gap where the Consumer Demand is higher than the Market Supply, while a positive value signifies a surplus ©SDS a division of x span results, inc Data by STI All rights reserved Page 3 of 3 n E0I Update IvJ, Ly J L�. \.r, l �! .Zr 3 L G Harold Duffey City Manager AB 113 ' Redevelopment Dissolution Proposal t —Amended July 9, 2015 A y ' Bond proceeds derived from Bonds y Issued on or after January 1, 2011, In ' y excess of the amounts needed to satisfy approved enforceable obligations, shall be used In a manner consistent with the original bond covenants, subject to the following provisions r 3 { r 1 At ., Next Steps R J 4 rr Staff Working with League of 1S California Cities Ay Laura Morales —Yours to outside services '- Outside services to you, a — Other departments to you ■ August 5t" Meeting with Assembly Woman Brown's Office and RDA staff for Speaker of the Assembly ( — 1 00 p m Assembly member Brown's District Office { F f EL a (30ala o , * HX AC fj J 1 Request change in legislation to allow Agency to utilize all or more of Bond Proceeds rr�"'rr E.1 I 3 7/21/2015 `NL.OwP•w.f TF Barton Road1 �-) rc-, I)r;-��;�,11 11 ;1 // r--�, r(-- I Public £t Privately Held Properties 1 7/21/2015 $ der Bros ers .a? *22 2p 1 Portgn, > 2Z2 3 r. s ,.W �1 \ �� sr }�1 Rd P r 1 3 7/21/2015 *2� 56 _4 Bartgn.O'n 11 I1 roca 11 Z algeeps 1 0 5 e' 7/21/2015 *2Z747 xp r �,a�rto,p, p .1 % 7 �7 >g 2775 7 �' r `11 1 Burton - rl'W, u esti o s 7 NOTICE AND CALL OF SPECIAL MEETING CITY OF GRAND TERRACE CITY COUNCIL AND SUCCESSOR AGENCY FOR THE COMMUNITY REDEVELOPMENT AGENCY NOTICE IS HEREBY GIVEN that a Special Meeting of the City Council and Successor Agency of the City of Grand Terrace is hereby called to be held on Tuesday, July 21, 2015, commencing at 6 00 p in in the Council Chambers at City Hall, 22795 Barton Road, Grand Terrace, California, 92313, for the purpose of discussing the following matters Public Comment will be heard on these items only OPEN SESSION 1 Legislative Update — Oral Presentation 2 Agreement For Taxing Entity Compensation for disposition of Property #4 pursuant to the City of Grand Terrace's Long Range Property Management Plan RECOMMENDATION Authorize the City Manager/Executive Director of the Successor Agency to commence negotiations with appropriate Taxing Entities for proposed Agreement for Taxing Entity Compensation pursuant to the City's Long Range Property Management Plan and Health and Safety Code §34180 3 Comprehensive Approach to Property Development/Economic Development — PowerPomt Presentation CLOSED SESSION 4 CONFERENCE WITH REAL PROPERTY NEGOTIATORS - Pursuant to Government Code Section 54956 8 Property APN Nos 1167-151-22, 1167-151-74, 1167-151-71, and 1167-151-68 Agency negotiator G Harold Duffey, City Manager/Agency Director Negotiating parties Lewis Group Under negotiation Price and Terms of Payment Dated July 16, 2015 STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) SS CITY OF GRAND TERRACE ) AFFIDAVIT OF POSTING I, Pat Jacquez-Nares, City Clerk for the City of Grand Terrace, hereby certify that a copy of the Notice of the Special Meeting of the City of Grand Terrace City Council and Successor Agency, to be held on Tuesday, July 21, 2015, at the hour of 6 00 p in was posted as required, and has been delivered not less than twenty-four hours before the time of the meeting to the following Chair Darcy McNaboe Agency Member Jackie Mitchell Agency Member Bill Hussey Richard L Adams II, Agency Counsel I declare under penalty of perjury that the foregoing is true and correct Dated July 16, 2015 Vice -Chair Sylvia Robles Agency Member Doug Wilson G Harold Duffey, City Manager