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Committee member Benavidez questioned the funding of the waste rate adjustment <br />and bond adding he is glad staff is being proactive with proposed plan and looks <br />forward to his individual meeting. <br />Chairman Sarmiento asked staff to review issues that were done well from a <br />previous process and to look at missed opportunities and make improvements. <br />3. UPDATE ON ADULT EDUCATION CENTER AT CENTENNIAL PARK {Strategic <br />Plan No. 5, 4A} <br />Parks, Recreation & Community Services Executive Director, Gerardo Mouet <br />provided a presentation on the Adult Education Center located in Centennial Park <br />noting the lease with the owner, federal government, expires in November 2019. Mr. <br />Mouet discussed the limitations on the current lease and the need to explore other <br />options. As an alternative, the City is looking at one or two land exchanges that <br />could allow continued use of the property. Mr. Mouet noted if land exchanges are <br />approved, it will come back to City Council to negotiate a long -term lease with the <br />Santa Ana College. Mr. Mouet noted the Council was updated on this option at the <br />April 5, 2016 meeting. <br />Committee member Benavides inquired on the request and process to the National <br />Park Service. <br />Chairman Sarmiento asked about the project timeline. Mr. Ron Ono responded that <br />staff anticipates sending a proposal to the City Council in August. <br />4. THIRD & BROADWAY PROJECT UPDATE {Strategic Plan No. 3,5A} <br />Planning & Building Agency Executive Director Hassan Haghani provided an update <br />on the Third & Broadway project noting staff is reviewing documents submitted by <br />Caribou Industries to evaluate their ability to deliver the project. <br />Mike Harrah, Caribou Industries, introduced architect Michael Bohn from Studio One <br />Eleven and lender Kenny Gap with PennyMac who is providing financing for the <br />project. Mr. Harrah noted they are addressing questions on the documents that <br />were submitted. <br />Michael Bohn provided a presentation on the proposed development and displayed <br />various images and views, diagrams, heights of the buildings, the residential tower at <br />Third & Broadway with office, retail, lofts, active courtyard, restaurant, community <br />room and passive courtyard; the hotel located at Third & Sycamore with roof deck, <br />courtyard and hotel cafe. Discussed the two levels of parking with 225 stalls <br />dedicated for public use, 160 stalls for residential use and parking for hotel <br />component will be on stackers with valet service. <br />Development & Transp. Council Committee Minutes 2 April 18, 2018 <br />13A -8 <br />