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HomeMy WebLinkAboutStaff Correspondence - #26 Alcala, Abigail From:Thai, Minh Sent:Tuesday, September 24, 2024 5:40 PM To:Thai, Minh Cc:Nunez, Alvaro; sonia.carvalho@bbklaw.com; Mendoza, Steven; Vazquez, Sylvia; Pezeshkpour, Ali; Crosthwaite, Melissa; Hall, Jennifer Subject:For your information: Excerpt from the October 1st City Council Staff Report regarding the Continued Public Hearing on the Related Bristol Project Attachments:image001.png; image002.jpg; image003.jpg; Exhibit 21 - Applicant Responses to City Council September 17 Questions.pdf; Exhibit 22 - City Responses to City Council September 17 Questions.pdf Mayor Amezcua and Members of the City Council (bcc), st To streamline the review process for the upcoming October 1 Staff Report regarding the Related Bristol Specific Plan Project, staff is providing the excerpt below. This highlights only the new supplemental information added, leaving out the rest of the report which contains information previously provided as part of the September Staff Report. “At its regular meeting on September 17, 2024, the City Council received a staff presentation, opened the public hearing, and took public comments on the item. A total of 37 individuals spoke on the item, including three individuals representing the applicant and two representing onsite land ownership. Comments ranged from those in support, those without a clear position, and those opposed. The nature of the comments in support focused on opportunities to develop the site with a new, mixed-use village that would generate positive impacts for the City and surrounding communities, while those with no clear position or in opposition focused on concerns surrounding traffic, increases in rent, and the lack of project labor agreements. Following public comments, the public hearing was closed and the item returned to the City Council for discussion. City Council members posed nine (9) questions about the project for follow-up by the applicant and staff, after which the City Council unanimously voted to continue the matter to the regularly scheduled meeting of October 1, 2024”. In addition to the above information, also attached for your reference are the new Exhibits 21 and 22 to the Report. 1. Exhibit 21 outlines the City Council questions to the applicant and their responses. 2. Exhibit 22 outlines the City Council questions for staff and contains staff responses. Please let me know if I can further assist with your review of the information. Best regards, 1 Minh Thai | Executive Director City of Santa Ana | Planning & Building Agency 714.667.2706 | 20 Civic Center Plaza| Santa Ana, CA 92701 The mySantaAna mobile app puts the power of the Santa Ana city government in the palm of your hand! The free app allows residents to quickly and easily report issues to the City, access City services, and find news and events. Download the App: Click here to report an issue directly from the City’s website 2 Exhibit 21:City Council Questions to Applicant from September 17, 2024 Hearing 1. Why is only one hotel planned for the project? Applicant’s Response: Related’s professional assessment of the market is that the Project can only reasonably support one hotel. Our assessment is informed by our company’s extensive experience developing hotels throughout the country, including The Conrad in Los Angeles, which we completed in 2022, comprehensive market data on the South Coast Metro and John Wayne Airport hospitality submarket, input from various hotel operating partners, and the current state of the hospitality industry and capital markets. While we are excited to be pursuing a hotel at Related Bristol, it will be the most ambitious and challenging component of the project to realize. This can be attributed to a combination of factors including: the increasing cost of construction, escalating cost of hotel operations, softening in business travel demand as the economy continues to shift to a hybrid work environment that promotes online versus in- person meetings, and a backdrop of a highly competitive and well supplied hospitality submarket that already has 12,000 hotel rooms. Related is very concerned that the inclusion of a second hotel will render the first hotel financially infeasible as investors and lenders on the first hotel will perceive the second hotel as unacceptable competition that will take business away from the first hotel and jeopardize their investment. The average daily room rate of full-service hotels in this submarket is approximately $220/night whereas new construction would require rates approaching $400/night for feasibility. The addition of a second hotel would only further soften the market and add downward pressure on the rates achievable at the first hotel. Segmentation and differentiation of two hotels on the same property would be difficult to accomplish and we believe the second hotel would cannibalize business from the first hotel. It is worthwhile noting, however, that Related Bristol’s specific plan does contain flexibility to convert uses that could potentially facilitate a second hotel should the economic fundamentals and market conditions significantly improve. However, our professional assessment is that a second hotel is infeasible for the foreseeable future and should not be included in order to protect the feasibility of the first. Following receipt of the Applicant’s response, the City has added the following additional information for the City Council’s consideration: During the Ad Hoc Committee negotiations, Related discussed the challenges associated with developing a financially feasible a hotel at the site as reflect in their response above. The Ad Hoc Committee considered the information and focused on the Applicant committing to pursuing an upscale high-quality hotel that is not currently available in Santa Ana. As reflected in the Development Agreement Section 4.2.4, the Applicant is committing to pursuing and securing a minimum of four-star class hotel. Similar hotels in area with a four-star rating include the Westin South Coast Plaza, Avenue of the Arts, the Hilton Orange County, and the Marriott. Four-star hotels are large, upscale establishments, fully staffed and offer special services and amenities, including concierge Page 1 of 3 Exhibit 21:City Council Questions to Applicant from September 17, 2024 Hearing services, 24-hour reception, fine dining and onsite restaurants, room service, multiple pools and hot tubs, high-class fitness centers, bellhops, valet parking and transportation, day spas, meeting and conference facilities, business centers, and an array of special suites.The Specific Plan has also been structured with the flexibility of allowing for additional hotels to be constructed on the site without requiring additional analysis subject to approval by the Planning Commission. 2. How many units will be for sale, if any, and why? Applicant’s response: Related Bristol is situated on land that has been owned since 1903 by one of the original pioneering farming families of Orange County, the Callens Family (“The Family”). Their stake in this community and in this City goes back to the beginnings of the City of Santa Ana and Orange County. The Callens family have been the stewards of the land for over a century, the land is a family heirloom which, they intend to own for perpetuity and do not want to sell any part of the property, whether to Related or to future homeowners. As such, the Related Bristol project is subject to a 99-year ground lease with The Family. For-sale housing on a ground lease with on-going ground lease payment obligations causes for-sale housing to be financially infeasible. While ground lease for-sale housing has been done on a limited scale in the past, that product and financing was produced decades ago in a different financial market which does not exist today. Financing and investor interest is not available for for-sale housing on a ground lease in this location. Related Bristol’s ground lease would obligate a home buyer to make annual ground lease payments in addition to their annual cost of home ownership. Historically, the value of homes on ground leases underperform the market in relation to homes on fee simple land. The value of ground lease homes declines over time as the remaining ground lease term shortens and the home ages, eventually reaching zero at the end of the lease unless extended. These fact patterns significantly diminish the marketability and appeal of such homes given buyers have other choices (i.e., homes on fee simple land), and subsequently, lenders, buyers, and investors elect to not invest. Due to the declining nature of the value of these homes over time, for sale homes on a ground lease are not an effective tool for creating generational wealth. The City of Santa Ana approved the South Bristol Corridor General Plan Amendment and did not differentiate between for-sale or for-rent residential units. From a legal perspective, the applicant has presented a General Plan complaint project, which is why a General Plan Amendment is not required to implement the project. Page 2 of 3 Exhibit 21:City Council Questions to Applicant from September 17, 2024 Hearing While Related would consider a for-sale component on the project were Related purchasing the project site in fee simple, for the salient reasons described above, Related Bristol has not proposed any for-sale homes at this time. Following receipt of the Applicant’s response, the City has added the following additional information for the City Council’s consideration: The Ad Hoc Committee discussed the challenges that the project presented because the property will continue to be owned by the underlying owners, not Related. These challenges impacted negotiations related to the open space, the value of the land and ultimately the amount of the community benefit payment and recordation of the DA against the property. 3. Will the new grocery store be a Vons store or one of similar quality that is associated with union labor? Applicant’s response: Pursuant to the Development Agreement, Related has committed to include a full-scale grocer of at least 35,000 square feet within the first two phases of the project. Related understands that the full-scale grocer is important to the immediate community and we are committed to including one in the Project. We are prepared and committed to engage with Vons, the existing onsite grocer, to extend their existing lease as soon as the project is approved. We are grateful that Vons has expressed early interest in the new project and has supported our project in writing and verbally in the past, most recently at the th City Council hearing on September 17. As construction of the full-scale grocer retail space nears completion, Related will solicit interest from various grocer operators, including the Albertsons Corporation which owns Vons. Related welcomes a Vons, Albertson, Ralphs, or a similar operator, and will solicit their respective interests once there is an actual space and design for them to consider. While Related welcomes the interest of union grocers, Related, as the Ground Lessor, is not involved nor can we dictate whether or not such grocer operator is union or non-union, or which grocer brand they wish to operate. If the project’s grocer was required to be union, and such a union grocer wasn’t interested or we were unable to reach a mutually agreeable lease, the Project would not be able to fulfill our obligation to the Community to include a full-scale grocer and the Project would risk being in legal default of the Development Agreement. This exact scenario occurred on another project in San Francisco more than twenty years ago and the developer ultimately sued the City and won. We want to structure Related Bristol for success and avoid repeating the mistakes of the past. The build-out of this project will occur over a decade and no one can predict what the state of the rapidly-changing grocery landscape will look like when the new store is ready to be occupied. Page 3 of 3 Exhibit 22: City Council Questions to Staff from September 17, 2024 Hearing 1. How will the truck construction routes be established? Do we know where they will be? Will there be time restrictions on truck travel? How will residents be notified of the restrictions? The Mitigation Monitoring Reporting Program (MMRP) of the project’s Supplemental Environmental Impact Report (SEIR) authorizes to the City’s Public Works Agency to define the allowable truck routes for the project. The precise route is generally determined during the implementation phase of development. Responsive to the Council direction and to address public concerns expressed during the public hearing, Staff is recommending that the City Council consider specifying the following restrictions to be added to the draft Specific Plan in Chapter 6.0 – Implementation, as follows: Trucking and Construction Hauling During Project Construction: Travel Restrictions: Trucks can only use truck routes designated in the General Plan Mobility Element that are located directly along the project site to travel to and away from the site. Direct Path Requirement: Trucks must take the shortest and most direct route to and away from the site to nearest freeway on- and off-ramps. Residential Proximity Limits: Trucks are prohibited from using those routes to travel to and away from the site if there are residential uses fronting the street or are located within 300 feet of the street. Noise Restrictions: All noise sources associated with construction and truck hauling activities shall not take place between the hours of 8:00 p.m. and 7:00 a.m. on weekdays, including Saturday, or any time on Sunday or a federal holiday. Site Posting & Notification Requirements: Applicant shall notify in writing to all contractors requiring compliance with the above restrictions and shall post the name and 24-hour contact phone number for reporting of issues consistent with the requirements of Section 6.2.10(5) of the Specific Plan. An advance notice providing the 24-hour contact information for this site shall be mailed to all tenants and property owner within a 1,000-foot radius at least 30 days prior to the start of each of the three major construction phases of the project as identified in the Specific Plan. 2. Does the City have an equitable plan or idea on how the $22 million community benefit revenue will be used? The budgeting and spending of the $22 million community benefit payment will be implemented through the City Council’s annual budget adoption process. Page 1 of 4 Exhibit 22: City Council Questions to Staff from September 17, 2024 Hearing During its public hearing and consideration of the item on August 12, 2024, the Planning Commission recommended formation of a citizen oversight committee to make recommendations to the City Council on the budgeting and spending of the $22 million community benefit payment; this recommendation is documented in the September 17, 2024 City Council staff report prepared for the item. 3. Can staff include establishment of an oversight committee for the project? A revision can be made to Staff Report Exhibit 4 (Ordinance approving the Development Agreement) to establish a citizen oversight committee. The necessary revision would be implemented by modifying Section 3 with a new sentence to read: The spending of the Community Benefit Payment or similar payment to the City for public benefits referenced by the Development Agreement shall be overseen through a Citizen Oversight Committee, whose formation, structure, purpose, and membership shall be established by Resolution of the City Council, and who shall make recommendations to the City Council prior to budgeting and spending of the first Community Benefit Payment or similar payment by the City, and through subsequent recommendations thereafter prior to the budgeting and spending of the Community Benefit Payments. 4. How will traffic signals be impacted by construction? The traffic study identified the need for 7 traffic signal improvements which are to be fully funded by the developer. Additionally, there are 6 other impacted intersections where the developer is only responsible for a share of the cost of improvements. The table below summarizes the requirements. Location Improvement Developer’s (New Signal or Cost Share Upgrade of existing) Plaza & Callen New100% Common Plaza & MacArthur Upgrade 100% Sunflower & Paseo New100% Bristol & MacArthur Upgrade 100% Bristol & Callens Upgrade 100% Bristol & Driveway New100% Bristol & Sunflower Upgrade 100% Page 2 of 4 Exhibit 22: City Council Questions to Staff from September 17, 2024 Hearing Location Improvement Developer’s (New Signal or Cost Share Upgrade of existing) Fairview & SegerstromUpgrade 2.51% Bristol & SegerstromUpgrade 6.7% Flower & Segerstrom Upgrade 4.1% Flower & MacArthur Upgrade 17.99% Main & MacArthur Upgrade 15.65% Bear & SR-73 Upgrade 6.31% 5. What issues did the Council ad hoc address? The Development Agreement (DA) addresses key terms of importance to the community in accordance with California Government Code Section 65864et seq. Specifically, the DA addresses the following priorities of the City Council Ad Hoc committee that was formed in October2023 to address the DA’s deal points: Recordation Term (Duration of the DA) and Extension Timing (Phasing of the project) Community Benefits, including the $22 million community benefit payment Hotel Economic Benefits Open Space Inclusionary Housing Additional information and analysis of these deal points is contained within the September 17, 2024 City Council staff report prepared for the item, including Exhibits 4 and 7 to the staff report. Throughout the duration of its ongoing meetings, the ad hoc committee evaluated additional considerations for the DA. Ultimately, the following items were discussed and were notincluded in the final recommended DA: Two additional five-year term extensions Local hire & active marketing Business retention Labor agreements Multi-use community center or library Police Department substation (ultimately included in the Specific Plan document, Section 6.2.12) Page 3 of 4 Exhibit 22: City Council Questions to Staff from September 17, 2024 Hearing Public art and a public art fee(public art design and locations ultimately addressed in the Specific Plan document, Section 5.11) Contribution of funding towards making repairs and upgrades to existing fire stations owned by the City “Green” building and site design features, such as water conservation, Leadership in Energy and Environmental Design (LEED) building designs, electric vehicle parking, electric appliances, photovoltaic panels, ecology and wellness, street improvements, utility enhancements, and traffic improvements (ultimately included in the Specific Plan document, Sections 5.8 and 5.9) Formation of an Enhanced Infrastructure Financing District (EIFD) Multiple options to comply with the Affordable Housing Opportunity Creation Ordinance (AHOCO) The ad hoc committee originally stood firm in negotiations on the fact that it encouraged Related to commit to entering into a Project Labor Agreement. Ultimately, it was decided that requiring such an agreement would unfairly impact discussions and negotiations between Related and the union representatives. Related assured the ad hoc committee that it would work with the unions and that upon presentation of the project to the City Council they would work to ensure that the unions supported the project as being in the best interests of the community and union workers. 6. Will the City’s CWA requirements apply to the project? No; the City’s CWA requirements only apply to public improvement projects and affordable housing projects that are built by the City or receive City funding. The public improvements required of the development are being built by the developer at the developer’s cost with no funding from the City. However, the CWA does apply to City public improvement projects. As such, the CWA would apply to the offsite public infrastructure work that the City will generally construct, including work for which the Developer will pay a proportionate share of the costs. Public infrastructure anticipated by the City includes storm drain line extensions, street intersection improvements, water and sewer improvements, etc. The value of such improvements was previously estimated by DTA to be approximately $80 million. Page 4 of 4