Title
Recommendation to Authorize the Interim City Manager to Execute a Reimbursement Agreement for Estuary Park Access between the Successor Agency to the Community Improvement Commission, City of Alameda and Catellus Alameda Development, LLC. [City Council and SACIC] (Community Development 256)
Body
To: Honorable Chair and Members of the Successor Agency to the Community Improvement Commission of the City of Alameda
Honorable Mayor and Members of the City Council
From: David L. Rudat, Interim City Manager
EXECUTIVE SUMMARY
In July 2017, the City Council approved an amendment to the Bayport/Alameda Landing Master Plan for the final development phase of Alameda Landing north of Mitchell Avenue. That amendment requires the developer, Catellus Alameda Development, LLC (Catellus) to construct an access road to Estuary Park, located to the west of the project.
On March 20, 2018, as part of the Fiscal Year (FY) 2017-18 Mid-Year Budget update, the City Council appropriated $800,000 from the Base Reuse and FISC Lease Revenue budgets to accelerate construction of the access road ahead of the schedule. The attached Reimbursement Agreement (Exhibit 1) spells out the terms and conditions under which the City will provide the funding to Catellus to construct the improvements, and Catellus will then reimburse the City up to $615,258 at the time of future residential parcel sales.
BACKGROUND
In July 2017, the City Council approved an amendment to the Bayport/Alameda Landing Master Plan for the final development phase of Alameda Landing north of Mitchell Avenue. The amendment revised the Master Plan to allow the rehabilitation of 365,000 square feet of warehouse space for maritime uses, construction of up to 400 residential units, and construction of a 4.5-acre public waterfront park. In December 2017, the Successor Agency conveyed approximately 17 acres to Catellus, who then conveyed the property to Bay Ship and Yacht (BSY). Over the last year, BSY has been renovati...
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