11/20/1978 - Laserfiche WebLink

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. . . . ACQUISITION OF PROPERTY AT THE SOUTHWEST CORNER OF EIGHTH AND BUSH STREETS (AP NO. 009-011-05) FOR SOMBRERO STREET RESTAURANT PARKING The Executive Director reported that the Redevelopment Commission has been meeting with the owner of Sombrero Street Restaurant regarding the parking proposal. Staff is recommending that the Agency acquire the vacant lot behind the Restaurant and lease it to the owner of the Sombrero Street Restaurant, and allow him to have an option to buy. The Restaurant owner will improve the parking lot at his own expense. The owner of the vacant parcel is willing to sell the property, however, the owner of the Restaurant cannot afford to purchase it at the present time due to his substantial investment in the Restaurant. Mr. Peter DeRocher, owner of the Sombrero Street Restaurant, approached the Agency expressing his need for the parking, and stated that he was not looking for a handout, he is willing to pay for the property, but needs help at the present time. Questions were raised and concern expressed regarding the consideration for the parking lot property, at the time of exercise of option, being based on the then market value for the use intended. Some of the Agency members feel that the market value should be based on the best use of the property, not just considering it as a parking lot use. The Executive Director stated that this was just a question of how this is worded, it is not a question of the intent. He further stated that if this was approved, Staff would bring the lease back to the Agency for approval. A motion was made by Mr. Ward, seconded by Mr. Evans and carried (Mr. Yamamoto voted NO) to continue this item to December 4,1978. ORAL REPORT ON WALTER SCOTT PROPOSAL FOR DEVELOPMENT OF OLD MULTI MODAL TRANSPORTATION TERMINAL SITE The Executive Director reported that an Orange County developer is interested in the old Multi Modal Transportation Terminal site. The Redevelopment Commission met with the developer at their meeting held on November 14. Staff wanted to expose the developer to the Redevelopment Commission so that everybody walked into this transaction with an understanding of how this site should be treated from an architectural point of view. The property is owned by two property owners. Staff has contacted both of the owners and they have indicated that they have no immediate intention to develop this property, and if the price was right, they would be willing to sell. At the Commission meeting on November 14, the Commission members had the opportunity to convey to the developer their feelings towards this site. Mr. Tully Seymour, representing the presbyterian Church, was present and was also given the opportunity to give his opinion as to what this site should become. At the present with a garage parking. time, the property is predominantly a parking lot type structure, used for the most part as interior The Commission's recommendation was that the Redevelopment Commission is in support of what was presented to them thus far, and await further developments from the developer, Mr. walter Scott, of this property. -3-