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TO: REDEVELOPMENT AGENCY Costa
FROM: Phil Batchelor CQu
•J „J
Executive Director �1cr)
DATE: August 17, 1993
SUBJECT: Park Regency Retail - Pleasant Hill BART Station Area
SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
DESIGNATE Main Street Associates as the Master Developer for the Park
Regency retail development; and AUTHORIZE the Deputy Director-
Redevelopment to execute an Exclusive Right to Negotiate with Main
Street Associates.
FISCAL IMPACT
None.
BACKGROUND/REASONS FOR RECOMMENDATIONS
As part of the 1988 approval of the Park Regency Apartments, a site
fronting on Oak Road was designated for neighborhood-serving retail.
The original configuration of this retail development was a two story
retail building of approximately 18, 000 square feet. GBW Properties,
the developer of the Park Regency Apartments, does not wish to develop
the retail site itself due to logistical management issues. In
conjunction with Agency staff, two potential retail developers were
reviewed (Main Street Associates, Walnut Creek, and C & H Development,
Lafayette) . Main Street Associates (a General Partnership consisting
of Steve Thomas and Robert Bailey) is being recommended as the party
to be given an Exclusive Right to Negotiate with the Agency with
respect to transfer of the Disposition & Development Agreement.
The Exclusive Right to Negotiate will stipulate performance
expectations of the developer. The developer must proceed in an
expedient fashion in securing necessary land use approval, securing
tenants, and demonstrating an ability to finance the development in
order to enter into a Disposition & Developmen Agreement.
CONTINUED ON ATTACHMENT: YES SIGNATURE: C
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMM DATION O AGENCY C ITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF AGENCY ON August 17 , 1993 APPROVED AS RECOMMENDED x OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
x UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
646-4076 ATTESTED August 17, 1993
cc: Community Development PHIL BATCHELOR,
County Administrator AGENCY SECRETARY
County Council
GBW Properties
via Community Development BY , DEPUTY
Main Street 'Associates
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