BusHsgDev Highlights 2008 0710 - Laserfiche WebLink

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planning around the Bay Fair Station will be presented to the BART Board of Directors in September. 2. Discussion Regarding Outdoor Furniture Policy for City Rights-of--Way Business Development Manager Battenberg explained that staff has drafted a set of standards and procedures for outdoor furniture located in the City right-of--way. These standards and procedures are designed to take advantage of the extensive improvements to the Downtown Plaza and promote quality outdoor dining in the downtown. The standards will provide universal regulations on the type and placement of outdoor furniture and include a palate of pre-approved furniture, while the procedures will clarify the application and approval process. Development Planner Tim Ricard reviewed the standards and procedures with the Committee (Exhibit A). The Committee discussed what properties would be able to utilize the public right-of--way for outdoor dining and expressed concerns about the requirement that the furniture be taken inside every night. It was the consensus of the Committee that the standards be implemented by staff pursuant to existing procedures for the issuance of license agreements. 3. Discussion Regarding Proposed Loan Agreement for 1750 Doolittle Drive Development Planner Tim Ricard reported that in June 2006, in order to enhance the future development of 1720 Doolittle Drive and at the urging of the Agency, McGrath Properties purchased 1750 Doolittle Drive. Combination of these parcels will allow for a larger and more cohesive development at this critical intersection. Environmental remediation at 1720 Doolittle Drive has taken longer than originally anticipated. This, along with concerns regarding the slowing economy, has created a situation in which it is economically impractical to exercise the purchase option and develop these sites. In addition, current market conditions have made it difficult to secure conventional financing to pay off the seller-financed purchase of 1750 Doolittle Drive. In order to allow McGrath Properties to continue their efforts to develop the primarily undeveloped 1720 and 1750 Doolittle Drive sites into a viable industrial building site, the Agency recommends extending 1750 Doolittle, LLC a five year interest only loan, at 6%, for $559,200. The loan will require approval by the Redevelopment Agency Board which is scheduled for September. The Committee expressed support for the loan as a way to insure cohesive development of the area. 4. Update on the Redevelopment Agency Commercial Facade Improvement Program Development Planner Tim Ricard provided the Committee with a brief overview of the status of the Commercial Facade Improvement Program. Ricard explained the process of working