5 16-39 Subject: City Center 14th DDA Amendment
From: Economic And Workforce Development
Recommendation: Adopt A City Ordinance (A) Authorizing A 14th Amendment To The City Center Disposition And Development Agreement Between The City Of Oakland And Oakland T12 LLC For Development Of Property Located At 601 12th Street To Extend Performance Dates And To Establish And Accept Extension And Administrative Fees, And (B) Separately And Independently Relying On (1) The "T12 Project California Environmental Quality Act ("CEQA") Analysis (Addendum #6)" Dated March 2016 To (1) The Previously Certified 2000 City Center Environmental Impact Report, (2) The Previously Certified 1998 Land Use Transportation Element Environmental Impact Report And (3) The Previously Certified 2011 Redevelopment Plan Amendments Environmental Impact Report Per CEQA Guidelines Sections 15164, 15183, 15183.3, And 15168 And 15180
Unfortunate the City could not find a better alternative for this property. Given the fact the developer did not pay the $ half Million for the two extensions on the last agreement, the City considers another extension, allowing the property another 6 years until something will be finalized. Land banking at it's worst. It would be a total of 14 years since construction stopped to see a finalized building on this property. That's assuming the developer goes through with this agreement. Given their performance on the last agreement, that is by no means a certainty.
Unfortunate the City could not find a better alternative for this property. Given the fact the developer did not pay the $ half Million for the two extensions on the last agreement, the City considers another extension, allowing the property another 6 years until something will be finalized. Land banking at it's worst. It would be a total of 14 years since construction stopped to see a finalized building on this property. That's assuming the developer goes through with this agreement. Given their performance on the last agreement, that is by no means a certainty.