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10A Action 2011 0307
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10A Action 2011 0307
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3/3/2011 5:10:21 PM
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3/3/2011 5:10:20 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
3/7/2011
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_CC Agenda 2011 0307
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\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0307
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Development Plans for Davis/Hays/East lo Site 3 March 7, 2011 <br /> 4. 234 Davis Street. This parcel, owned by Union Bank, provides parking for the Union <br /> Bank building and shared parking with the former Great Western Bank. In September <br /> 2005 the Agency offered Union Bank the opportunity to enter into an Owner <br /> Participation Agreement and participate in the development project, but Union Bank was <br /> not interested. Meetings with Union Bank are ongoing as this parcel is important to the <br /> project. <br /> 5. 1199 East 14 Street. The corner parcel at 1199 East 14 is the former site of the Great <br /> Western Bank. This parcel was purchased in December 2004 from Washington Mutual <br /> along with the noncontiguous parking lot at 250 Davis (see #3, above). This parcel <br /> contains very few parking spaces and no vehicular access points, which will need to be <br /> addressed by the development. <br /> 6. 1145 East 14 Street. This parcel contains a two story office building that is owned by <br /> PSK Development LLC and leased by Union Bank. Union Bank sub - leases some of the <br /> office space on the second floor to additional tenants. In September 2005 the Agency <br /> offered the owners of the property the opportunity to enter into an Owner Participation <br /> Agreement, but they were not interested. Shortly thereafter, the Olson Company offered <br /> to purchase the property but was unable to negotiate a mutually acceptable price. <br /> Inclusion of this parcel in the project is highly desirable, but complicated by Union <br /> Bank's extremely favorable terms that do not expire for many years. <br /> 7. 1117 East 14 Street. This parcel contains the Chevron gas station at the comer of East <br /> 14 and Hays. In September 2005 the Agency offered Chevron the opportunity to enter <br /> into an Owner Participation Agreement, but they were not interested. Shortly thereafter, <br /> the Olson Company was unsuccessful in efforts to purchase the property. In 2007, the <br /> Agency once again engaged Chevron in discussions regarding the project and identified <br /> 10 potential relocation sites for the station. None were deemed acceptable by Chevron. <br /> This station is extremely successful and owned and operated by Chevron, so they have <br /> very little motivation to move. The cost of acquisition, therefore, is prohibitive. At this <br /> point, the Agency is prepared to move forward with development plans that do not <br /> include this parcel. <br /> Hays Street <br /> Although early concepts of the project involved the closure of Hays Street to gain additional land <br /> and access to the creek, that option no longer appears viable due to the need to maintain access to <br /> the Chevron station and the high cost of making corresponding turn lane improvements at Davis <br /> and East 14 which would necessitate taking right -of -way from the corner of the project site. <br /> Improvements to Hays that would facilitate a pedestrian- friendly environment and better <br /> incorporate the creek are envisioned. Narrowing the street could also create space for some on- <br /> street parking, reducing the parking demands for the Site itself. In February, the Agency <br /> approved a cooperative agreement and allocated 52 million for streetscape improvements to this <br /> section of Hays Street. Specific details of these improvements will be refined as needed to ensure <br /> consistency with the proposed development. <br /> G :OBD\Files RDA\Plazn \Town Hall Square\ Innisfree\Staff Report Davis Hays Update 03 -07- 11.doc <br />
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