Council/Agency Consideration Criteria

Approach the Bank of America property?

Leverage City/Agency property?

Compliance with Downtown Specific Plan?

Residential, Ownership – VS – Rental?

Density and intensity of development desired?

Which project most likely to be financed and delivered?

Economic value to the Downtown?

Agency Subsidy?

RecommendationA. Receive the Owner Participation development proposal

presentations from the prospective developers.

B. Direct and authorize the City Manager/Executive Director to enter into an Exclusive Negotiation Agreement between the City of San Buenaventura, the Redevelopment Agency of San Buenaventura and a preferred Owner Participant.

C. Provide direction to staff regarding key considerations included in this Administrative Report, including the inclusion of the Bank of America property, residential unit type, project density, City/Agency land utilization/leveraging, and Downtown Specific Plan compliance.