19F - YMCA NEGOTIATING AGMT - Laserfiche WebLink

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YMCA Agreement -- Renovation /Reuse May 19, 2015 Page 2 • The City Council's stated objective to implement a strong economic development program in the Downtown which provides a linkage between the Civic Center and related professional office and nonprofit organizations. • The St. Joseph/Taller San Jose team proposal to share operating revenues and expenses, lending strength to their financial proposal while ensuring the long term viability of the project, • The St. Joseph/Taller San Jose team being end users of the building thereby providing a more secure venue than a speculative commercial development, • The St. Joseph /Taller San Jose team proposing to complete the project within 3 years. The ENA outlines the parameters, deal points and the performance milestones of the future Development Agreement. The initial term of the ENA was for 180 days with the option of a 180 day extension to be granted by the City Manager, The deal points contained in the ENA are summarized as follows: Economic Feasibility: Developer will conduct an economic feasibility study which will be evaluated by an independent financial consultant, compared with the proposed scope of work and used as the basis for any City financial assistance. • Environmental Reviews: City and Developer will agree on appropriate environmental reviews at developer's expense. Entitlements: The City will work cooperatively with the developer to identify any approval requirements related to the development team including any zoning, parking requirements and conditional use permits. City will provide guidelines and community assistance which are applicable to the rehabilitation or new construction including signage, setback, special uses, and urban design features. Historic Rehab Requirements., Developer will meet and confer with the City's Historic Preservation Planner who will furnish developer with historic rehabilitation guidelines to ensure historical preservation requirements are met. • Project Budget: Project Budget will be developed containing details of each type of expenditure and the applicable sources of funds. St. Joseph Rehabilitation Team: St. Joseph Rehabilitation Team will be required to have experience with historic rehabilitation. 19F -2