Posting Language
Title
Authorize negotiation and execution of a comprehensive development agreement and all other documents and instruments necessary or desirable with Catellus Development Corporation d/b/a CDC Colony Park Holdings, L.P. (Catellus) for the development of 208 acres of City-owned land located at 7900 Loyola Lane, known as the Colony Park Sustainable Community, and authorizing the expenditure of $500,000 to reimburse Catellus for a portion of its pre-development services costs. Related to Item #107.
De
Lead Department
Economic Development.
Fiscal Note
Funding in the amount of $500,000 is available in the Fiscal Year 2023-2024 Economic Development Department's Operating Budget.
Prior Council Action:
June 8, 2023 - Council approved Resolution No. 202306-08-054 relating to the Colony Park Sustainable Community Initiative and initiating changes to the existing Colony Park Planned Unit Development that is generally located in the vicinity north of Loyola Lane between Johnny Morris Road and Decker Lane. (Notes: Approved on a 10-0 vote)
November 3, 2022 - Council approved Item No. 20221103-001 authorizing the negotiation and execution of an amendment to the Exclusive Negotiating Agreement with Catellus to increase reimbursement expenditures related to for Phase 2 predevelopment services in an amount not to exceed $2,600,000, for a total reimbursement amount not to exceed $3,300,000. (Notes: Approved on a 11-0 vote)
November 3, 2022 -- Council approved Ordinance No. 20221103-004 creating Tax Increment Reinvestment Zone No. 20 for the Colony Park Sustainable Community to be located on City-owned land bordered on the south by a portion of Loyola Lane between Johnny Monis Road and Decker Lane, establishing a Board of Directors for the zone, and related matters.
March 24, 2022 - Council approved Resolution No. 20220304-56, affirming that the Colony Park Sustainable Community Initiative is a top priority and providing direction regarding funding, dev...
Click here for full text