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Exclusive Negotiating Agreement and <br />Keyser Marston Amendment <br />November 19, 2012 <br />Page 4 <br />Agreement". Updates are being recommended due to the dissolution of redevelopment, and with <br />respect to such items as planning efforts completed or underway, status of County involvement, <br />and property ownership (former Agency parcel now owned by the Housing Authority), with the <br />developer still responsible for funding the SARTC area master planning effort, at a minimum level <br />of $35,000 in third party costs for the City properties and an additional $65,000 for the larger site, <br />should that transpire. Additionally, the developer has agreed to the removal of a liquidated <br />damages clause that was in the original agreement, which could have resulted in the City being <br />responsible for reimbursement for those third party costs in an amount up to $100,000. The <br />Agreement calls for completion of the Master Plan within 18 months, however, a six-month <br />extension may be granted by mutual agreement if substantial progress is being made on the <br />Master Plan and more time is needed to complete it. Additionally, if the County Parcels are <br />ultimately incorporated, up to two additional six-month extensions can be granted in the same <br />manner. The approval to extend is also conditioned upon Developer providing the City and <br />Authority with an updated schedule, which is subject to the approval of the City Manager and <br />Executive Director of the Authority. Additionally, upon completion and approval of the Master Plan <br />by the governing bodies of the City and Authority, the parties would have a year (or greater if <br />mutually agreed upon) to negotiate towards agreement(s) for disposition and/or development. <br />It is recommended that Keyser Marston Associates (KMA) be hired to provide the necessary <br />financial consulting services on an as-needed basis to assist in creating a financial and operational <br />framework under which the City will pursue the development of the City Site, and potentially a <br />larger site in conjunction with the County property. KMA, which has the requisite specialized skills <br />and expertise, will be evaluating the master plan proposals and assisting the City in defining and <br />analyzing the public revenues sources that may be generated by the proposed development, while <br />balancing the City's goal to maximize the return on public investment with the City's transit goals <br />and objectives. The City recently entered into an agreement with KMA dated October 1, 2012 in an <br />amount not to exceed $25,000 with regard to two City-owned properties in the Downtown/Civic <br />Center area, therefore an amendment to that agreement is now being recommended. <br />With the Fixed Guideway project, which interconnects with the SARTC site, primed for funding, it is <br />an opportune time for a more comprehensive master planning and development effort to proceed <br />per the new agreement, including an analysis of the market and financial feasibility of development <br />options. Once the County is in a position to be involved on a more formal basis, its property can <br />be incorporated as applicable. <br />ENVIRONMENTAL COMPLIANCE <br />Developer negotiations and preparation of a conceptual master plan do not constitute a project <br />under CEQA guidelines. Additionally, the above-described action of the City Council was evaluated <br />under the California Environmental Quality Act (CEQA) as part of Environmental Impact Report <br />(EIR) No. 2006-02, adopted by the City Council on June 7, 2010. <br />8OA-4