RDA Reso 2001-011 - Laserfiche WebLink

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II. SUMMARY OF THE PROPOSED AGREEMENT The following summarizes the proposed agreement for this project. A. Description of the Site and Project Site The Agency is acquiring three parcels comprising an approximately 389,514 square foot ("SF") property, known as the Yokota property, in accordance with the Redevelopment Plan and intends to convey a portion of it to the Developer. Prior to the sale, the Agency will create a new tract map with parcelization as described in the draft Disposition and Development Agreement (DDA). The Site will be comprised of one parcel with a total land area of approximately 168,228 SF on the eastern portion of the Yokota property. Three remaining portions include one that will be conveyed to a second developer for development of an automobile dealership, one that will retained by the Agency for a new access road, and one that will be retained by the Agency with an option to convey to the developer of the other automobile dealership at full price within 18 months. The Yokota property is currently improved with structures related to the property's use as a nursery, as well as three single-family homes. All structures will be demolished. All land uses described herein are estimates subject to verification based on a land survey. Thus, the proposed sale price for the site is also subject to verification of the site size. Developer The Developer is Lavery California Dealership Properties No. 1 LLC, a California limited liability company. Project Description The Project will be the construction of a 25,000 SF automobile sales and service facility on an approximately 168,228 SF site. The dealership will be a Volvo franchise. The draft DDA requires development of afull-service automobile dealership of a size and character comparable to that of the other automobile dealerships on Marina Boulevard and with a showroom of at least 3,000 SF. It further requires that the Project have a minimum frontage along Marina Boulevard of not less than 150 feet and a minimum size of not less than 20,000 net SF after the provision of any required street right of way. It requires that the Project shall have a front and corner side yard landscaped area of at least ten feet measured from the back of the sidewalk (including any future right of way), as well as a minimum ten feet setback from adjacent residential uses. Finally, the draft DDA requires the Project to have a minimum lot depth of 110 feet across the entire width of the Site (as measured from the back of the sidewalk) to allow adequate space for a building and outdoor display area. B. Agency Responsibilities Conley Consulting Group Page 3 of 10 9-9 Volvo Lavery 33433 10200.003 v5 September, 2001