Title
Recommendation to Authorize the City Manager to Execute a First Amendment, Substantially in the Form of the Attached, to the Reimbursement Agreement for Estuary Park Access between the Successor Agency to the Community Improvement Commission, City of Alameda and Catellus Alameda Development, LLC; and
Adoption of Resolution Amending the Reimbursement Agreement for Estuary Park Access ("Agreement"), Substantially in the Form of the Attached, to Increase the $800,000.00 Budget by $85,000 for a Total of $885,000.00 as Authorized by Agreement Sections 2(A) and (B); Said Increase Shall be Allocated by the City from Its Fleet Industrial Supply Center (FISC) Lease Revenue Budget. [City Council and SACIC] (Community Development 24161823)
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
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 Reimbursement Agreement (Exhibit 1) describes the terms and conditions under which the City will provide the funding to Catellus to construct the improvements. Catellus will then reimburse the City up to $615,258 for road construction costs (Base Road Work), provided the two remaining residential parcels have been sold, and the road is deemed complete by City staff. Costs for City-requested improvements, such as street lighting and bicycle and pedestrian paths (Road Up...
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