75C - PUBLIC HEARING - AMEND DEVELOPMENT AGMT MACARTHUR PLACE

Home Browse Search

Amendment to DA No. 05-02 May 12, 2008 Page 2 Project Description The Nexus Development Corporation is proposing to amend Section 5.1.7 (Development, Construction and Completion of Public Art) and Exhibit B (Public Art Plan) of Development Agreement No. 2005-02 (Exhibit 3). Specifically, Nexus is proposing to modify the provisions which specify the location of the public art as well as to adjust the timing of contributions towards the installation of public art for the MacArthur Place South development. Analysis of the Issues In 2005, the City entered into a development agreement with The Grand Plan I and II, LLC, subsidiaries of the Nexus Companies, for the MacArthur Place South development. The development agreement established development intensity, permitted uses and development standards for the term of the agreement. Further, the approved development agreement required certain improvements and public benefits such as in lieu fees for parkland dedication, payment of an inclusionary housing fee, and the execution of an off-site improvement agreement with the Sandpointe Neighborhood Association. Also included in the development agreement was a $500,000 contribution for the installation of a single or grouped permanent work of public art to enrich both the project and surrounding community. At the final City Council hearing for the project, the Council modified the agreement to require two signs/art installations in the medians of MacArthur Boulevard and Main Street. These signs were envisioned to replace the dated City entry monuments and provide a more progressive gateway marker into the City. After extensive work by Nexus, including detailed design analysis, Nexus determined that the cost of these entry signs would exceed the total art budget . Due to this cost, and the desire by the developer to meet the intent of the public art policy, Nexus is proposing to return to the provision in the original draft development agreement and replace the requirement to install signs in the MacArthur Boulevard and Main Street medians with an art installation located on the project site but accessible and visible to the public. Nexus remains committed to fund public art in the originally approved amount of $500,000. Nexus is also requesting to modify the Public Art Plan and allow the public art contributions to be phased. Under the current terms of the agreement, the entire art contribution would need to be satisfied upon 75C-3