The Santa Ana Planning Commission will be considering as proposal by developer Mike Harrah, who owns Caribou Industries, to amend his development agreement with the City of Santa Ana.
Here is the amendment language:
AMENDMENT TO DEVELOPMENT AGREEMENT NO. 2004-01 (Vince Fregoso)
Filed by One Broadway Plaza LLC, to modify certain provisions of the development agreement to delete the 50 percent pre-leasing requirement; to allow the applicant to request assistance from the Redevelopment Agency; adjust the timing of the funding for the neighborhood traffic studies; allow additional time to refill any excavated area; and to delete the minimum of 51 percent ownership interest provision for the One Broadway Plaza (OBP) office tower at 1109 North Broadway.
Considering how the economy has changed since Harrah first proposed this development, the amendments appear to be worthy of consideration. That said, some of my associates are opposed to the use of Redevelopment funds for the One Broadway Plaza. That is understandable.
Click here to read the rest of this post.
This one is all take and no give.
It should be rejected, sent back so there can be some give and take involved.
Such as:
(1) 50 percent pre-leasing {coupled} with increase in infrastructure contributions
The project was billed as a 75 million project when the agreement was signed with the city sealing mitigation costs at 12 million. A few weeks later the newspapers pegged the project at 330 million.
So increase mitigation cost another 12 to 25 million up front OR a melo ruse assessment to fund the parks in the station district (2 percent would bring in 6 million a year) (nice)
(2) adjust the timing of the funding for the neighborhood traffic studies {coupled} with the immediate funding and building of the school drop off facility.
This important mitigation should have been done years ago.
Until the drop off point is finished OBP LLC should pay for crossing guards at 4 to 6 intersections on Broadway and Main.
(3) allow additional time to refill any excavated area; and to delete the minimum of 51 percent ownership {coupled} with the immediate funding and building of the road improvements promised.
This important mitigation should have been done years ago also.
Another reason for the crossing guards, and increased traffic cop enforcement for the government employees who blast down Broadway at speeds above the 25 MPH limit at OBP.
We need jobs in Santa Ana and this will provide jobs. I’m so sick of hearing the usual suspects crying about traffic and other impacts. We need jobs and we need them now. This project should be put on the fast track and let’s allow Mr. Harrah to start building yesterday if not sooner. We will all look with pride when this iconic building is finished. We can’t let this project get away from us like the Tiger Woods Youth Center, Disneyland, and South Coast Plaza that could have all been built in Santa Ana but our City Council rejected them. Just look at how nice Original Mike’s turned out. Even our new Sheriff used it on election night. I say build, baby, build!
You should rent the building, then it can be built according to the voter approved agreement and project.
Changing the agreement should mean a repeat vote. Right?
The planning commission passes the change to the DA to the council on a 3 ya to 2 na vote.
cook,
Thanks for the update! Please let us know who voted no.
Frank Acosta………………………ward 5……………no
Patrick Yrarrazaval……………..ward 2…………….no
Mario Turner……………………. ward 4…………….yes
Michael Walters……………….. ward 6…………….yes
James Gartner…………………. ward 3…………….yes
Victoria Betancourt……….. Mayor rep…………absent
Eric Alderete………………… …ward 1…………. absent
It was a very long meeting with a lot of talking.