DATE: April 17, 2018
TO: Mayor and City Council
FROM: City Manager
SUBJECT
Title
Authorization to Enter into an Exclusive Negotiating Rights Agreement with The True Life Companies, for a Proposed Development of Former Route 238 Parcel Group 2 off of Tennyson Road and Mission Boulevard.
End
RECOMMENDATION
Recommendation
That the Council adopts the attached resolution (Attachment II) authorizing the City Manager to enter into an Exclusive Negotiating Rights Agreement (ENRA) with the True Life Companies to develop conceptual development plans and negotiate a Disposition and Development Agreement (DDA) for former Route 238 Parcel Group 2 off of Tennyson Road and Mission Boulevard.
SUMMARY
The purpose of this item is to authorize the City Manager to enter into an Exclusive Negotiation Rights Agreement with The True Life Companies to develop conceptual development plans and negotiate a Disposition and Development Agreement for acquisition and development of a City-owned 8.75-acre parcel, giving them reassurance that the City will not negotiate with another entity while they are expending due diligence funds during the negotiation period.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Group 2 Parcel Map
Attachment IV Letter of Intent