RECOMMENDATION(S):
APPROVE and AUTHORIZE the Conservation and Development Director, or designee, to execute an amendment to the Exclusive Negotiating Agreement between the County and City Ventures Homebuilding, LLC, dated March 26, 2019, to extend its term through March 26, 2022.
FISCAL IMPACT:
No impact to the General Fund. Staff project costs are covered by the Housing Successor budget.
BACKGROUND:
The County and City Ventures Homebuilding, LLC (Developer), entered into an exclusive negotiating agreement dated March 26, 2019, under which the County granted the Developer an exclusive right, through March 26, 2021, to determine the feasibility of developing a project on County-owned property located at 223 Parker Avenue in Rodeo, California, and to negotiate a disposition and development agreement for the acquisition of the property by the Developer. If the Developer acquires the property, the Developer plans to construct a mixed-use development, consisting of 24 townhomes and approximately 2,000 square feet of commercial space, and a public plaza on the property.
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