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Contingent Ground Lease Between <br />LHA, the City of S.A., and CRA <br />March 19, 2007 <br />Page 2 <br />Now that the Specific Plan process is in the final stages, LHC is very <br />anxious to move forward with its concept. Therefore, the City and Agency <br />are proposing to enter into a Long -Term Contingent Ground Lease with the <br />following terms: <br />• Term - 20 -years with two 10 -year extensions <br />• Rent - $1.00 per year <br />• Lease contingent upon: <br />a. LHA obtaining title to the parcel (or ground lease for a <br />period equal to or greater than contingent lease with City & <br />Agency) not owned by City or Agency to make it part of a 4- <br />parcel site (Exhibit A). <br />b. LHA demonstrating financial ability to construct and operate <br />the facility over the term of the lease. Proof of <br />construction financing must be submitted to and approved by <br />the Executive Director of the Community Redevelopment Agency. <br />C. LHA receiving all necessary City entitlement (e.g., zoning, <br />variances, etc.) and having approved building permits for the <br />property. <br />• Property to be developed and operated as a privately owned, open to <br />the public, community recreation center facility (Exhibit B). <br />• Project design and layout, including building location, must be <br />designed to accommodate a potential future larger park project. <br />CEQA COMPLIANCE <br />In accordance with the California Environmental Quality Act, the project <br />qualifies for a Categorical Exemption (ER 2007 -28). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />1-h" &UaZod4v <br />Nancy T. Edwards <br />Assistan Director <br />Community Development Agency <br />SGH /VU /mlr <br />H: \ACTIONS \2007 CC \P. H. JT CC -CRA Contingent GroundLeaseLatinoHealthACcess V2 3 -19 -07 (2).doc <br />