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HomeMy WebLinkAboutItem 09c - Agreement for the Huntington Plaza Mixed-Use Project DATE: September 1, 2020 TO: Honorable Mayor and City Council FROM: Jason Kruckeberg, Assistant City Manager/Development Services Director Lisa L. Flores, Planning & Community Development Administrator By: Luis Torrico, Senior Planner SUBJECT: ORDINANCE NO. 2373 APPROVING A DEVELOPMENT AGREEMENT WITH NEW WORLD INTERNATIONAL, LLC RELATING TO THE HUNTINGTON PLAZA MIXED USE PROJECT LOCATED AT 117-129 E. HUNTINGTON DRIVE AND 124-134 WHEELER AVENUE Recommendation: Acknowledge the Approved Mitigated Negative Declaration and Adopt SUMMARY At its regular meeting of August 18, 2020, the City Council conducted a public hearing and adopted Resolution No. 7331 approving Minor Use Permit No. MUP 20-04, Major Administrative Modification No. Major AM 20-11, Architectural Design Review No. ADR 18-05, and Vesting Tentative Tract Map No. TTM 19-01 (82734) for the development of a mixed-use project. The City Council also introduced Ordinance No. 2373 (refer to Attachment No. 1) approving a Development Agreement with New World International, LLC relating to the Huntington Plaza mixed-use project. The proposed development will consist of two separate buildings and a shared subterranean parking structure. The first building consists of four stories of residential units (39 condominiums) over 10,200 square feet of ground floor commercial at 117-129 E. Huntington Drive. The second building is a five-story residential building (100 units) with surface parking on the ground floor that consists of private and public parking stalls at 124-134 Wheeler Avenue. The project site is made up of seven (7) parcels, including a City owned parking lot that contains 55 public parking stalls. As part of the development, the Development Agreement is required to facilitate the sale of the parking lot for $2.15 million to the Applicant to include into the overall project site. The Development Agreement requires that the 55 public parking stalls be replaced at a 1:1 ratio within the proposed development and be dedicated as public parking spaces in perpetuity. Adoption of Ordinance No. 2373 September 1, 2020 Page 2 of 2 The Development Agreement includes a 10 year term, and it requires that a parking access easement agreement be recorded within 30 days of the effective date of the Development Agreement to ensure that the 55 parking spaces remain public and accessible at all times (refer to Attachment No.1). Lastly, the proceeds from the sale of the City owned parking lot will be set aside in a parking fund to facilitate additional parking improvements with the Downtown. Attached is Ordinance No. 2373 with the development agreement, which includes the parking easement agreement. It should be noted that the project entitlements included a Mitigated Negative Declaration in accordance with the California Environmental Quality Act. All of the project materials, including Resolution No. 7331, can be found at the following link: https://www.arcadiaca.gov/agenda_detail_T46_R748.php. RECOMMENDATION It is recommended that the City Council acknowledge the approved Mitigated Negative Declaration and adopt Ordinance No. 2373 approving a Development Agreement with New World International, LLC relating to the Huntington Plaza mixed-use project located at 117-129 E. Huntington Drive and 124-134 Wheeler Avenue. Attachment No. 1: Ordinance No. 2373, including the Development Agreement and Parking Easement Agreement