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File #: 17-1028    Version: 1 Name: Exclusive Negotiating Agreement Cornerstone Properties
Type: CC- Report Status: Agenda Ready
File created: 11/14/2017 In control: City Council
On agenda: 12/5/2017 Final action:
Title: REPORT - APPROVAL OF AN EXCLUSIVE NEGOTIATION AGREEMENT WITH CORNERSTONE PROPERTIES FOR THE POTENTIAL ACQUISITION AND DEVELOPMENT OF CITY OF SANTA ROSA SURFACE PARKING LOT NUMBER TWO LOCATED AT 521 FIFTH STREET SUBJECT TO APPROVAL OF A DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE PROJECT BACKGROUND: One of the top City Council Goals is to address housing; a goal made more pressing by the Tubbs Fire that dramatically exacerbated Santa Rosa’s housing shortage. To meet the housing need, and as described in the Housing Action Plan, the City is looking aggressively at how to increase housing stock using City owned properties in the downtown core. In addition, the City is looking for creative solutions to redevelop its aging and/or underutilized infrastructure and facilities. The City owned parcel at 521 Fifth Street, currently used as a surface parking lot, is adjacent to and shares a common property line with 427 Mendocino Avenue, owned by Cornerstone Properties on which an office buildi...
Sponsors: Planning and Economic Development
Indexes: Not a Project
Attachments: 1. Staff Report, 2. Attachment 1 - ENA, 3. Resolution, 4. Exhibit A, 5. Presentation
Related files: 21-0498