NOTICE WORKSHOP(S) HEARING(S) OPENING. URBAN COMMUNITY DEVELOPMENT COMMISSION AGENDA Tuesday, January 25, :30 PM

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1 -1- Tuesday, January 25, 2011 NOTICE The Urban Community Development Commission (UCDC) was established by Ordinance No. 1,479, adopted on July 15, The Commission functions as the governing body for the Community Redevelopment Agency (CRA) and the Local Housing Authority (LHA) and exercises the power, authority, jurisdiction and functions of redevelopment agencies, housing authorities and federal surplus property authorities granted under the Marks Foran Residential Rehabilitation Act to charter cities. URBAN COMMUNITY DEVELOPMENT COMMISSION AGENDA Tuesday, January 25, :30 PM WORKSHOP(S) HEARING(S) OPENING ROLL CALL PUBLIC COMMENTS ON AGENDA AND NON-AGENDA ITEMS APPROVAL OF MINUTES CLOSED SESSION UNFINISHED BUSINESS

2 -2- Tuesday, January 25, 2011 NEW BUSINESS 1. A RESOLTUION OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION, ACTING AS THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF COMPTON AUTHORIZING THE EXECUTIVE SECRETARY TO ENTER INTO AN EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY AND WESTLAND REAL ESTATE GROUP TO WORK OUT THE TERMS AND CONDITIONS OF A DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE ACQUISITION AND DEVELOPMENT OF CERTAIN AGENCY OWNED PROPERTY LOCATED IN THE COMPTON REDEVELOPMENT PROJECT AREA IN CONNECTION WITH THE AGENCY 2010 TAX ALLOCATION BOND PROGRAM COMMISSION COMMENTS ADJOURNMENT

3 #1. January 25, 2011 TO: FROM: SUBJECT: CHAIRMAN AND COMMISSIONERS EXECUTIVE SECRETARY A RESOLTUION OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION, ACTING AS THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF COMPTON AUTHORIZING THE EXECUTIVE SECRETARY TO ENTER INTO AN EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY AND AMUSEMENT INDUSTRY, INC. (DBA WESTLAND REAL ESTATE GROUP) TO WORK OUT THE TERMS AND CONDITIONS OF A DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE ACQUISITION AND DEVELOPMENT OF CERTAIN AGENCY OWNED PROPERTY LOCATED IN THE COMPTON REDEVELOPMENT PROJECT AREA IN CONNECTION WITH THE AGENCY 2010 TAX ALLOCATION BOND PROGRAM SUMMARY Staff is respectfully requesting the Commission to authorize the Executive Secretary to enter into an Exclusive Negotiation Agreement (ENA) between the Community Redevelopment Agency (Agency) and Westland Real Estate Group to work out the terms of a Disposition and Development Agreement for the acquisition of Agency owned property located at Assessor s Parcel Number # ,901,902,903 (known as 110 North Bowen Avenue and 114 North Bowen Avenue) in the Redevelopment Project Area in connection with the Agency s 2010 Tax Allocation Bond Program. BACKGROUND In the ongoing efforts of transforming Compton s physical, economic, and social fabric into a vibrant, commercial retail center, in accordance to the dictates of the 2010 Tax Allocation Bond program, the Agency is initiating and implementing commercial retail and housing projects adjacent to the Downtown area. To that extent, the Agency is in receipt of a proposal from Westland Real Estate Group, to develop a high quality retail commercial project through the acquisition of certain Agency-owned property and development of that property into a commercial retail use. The proposed development is located on Agency owned property identified by Assessor s Parcel Number # ,901,902,903 (known as 110 North Bowen Avenue and 114 North Bowen Avenue). STATEMENT OF THE ISSUE In order to fulfill the objectives of the proposed development, Westland is requesting an Exclusive Negotiation Agreement (ENA) for period of 9 months to work out the terms of negotiations with the Agency culminating in a Disposition and Development Agreement (DDA). A key component of the developer s proposal calls for construction of a prime retail commercial corner development that would include a large full service grocery store, soft goods clothing and retail store, financial banking institution and restaurant uses. The project will incorporate the Agency s Smart Growth Design and principles that encourage a vibrant, open public space and art with modern architectural design that will attract additional retail and private investment within the community. The Smart Growth goals and objectives identified as outcomes from this development include, but are not limited to creating the following environment and benefit for the community: -1-

4 #1. Enhanced Commercial corridor and corner streetscape improvements that enhance Compton s street-level appearance. Establish urban design standards that guide high-quality design that is reflective of the character of the community. Increase Sales Tax and Property Tax Revenues to the City s General Fund Create new jobs for the residents of the community RECOMMENDATION Staff is respectfully requesting the Commission to authorize the Executive Secretary to enter into an Exclusive Negotiation Agreement (ENA) between the Community Redevelopment Agency (Agency) and Westland Real Estate Group to work out the terms of a Disposition and Development Agreement for the acquisition of Agency owned property located at Assessor s Parcel Number # ,901,902,903 (Known as 110 North Bowen Avenue and 114 North Bowen Avenue) in the Compton Redevelopment Project Area in connection with the Agency s 2010 Tax Allocation Bond Program. DR. KOFI SEFA-BOAKYE DIRECTOR OF REDEVELOPMENT WILLIE NORFLEET EXECUTIVE SECRETARY -2-

5 #1. RESOLUTION NO. A RESOLTUION OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION, ACTING AS THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF COMPTON AUTHORIZING THE EXECUTIVE SECRETARY TO ENTER INTO AN EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY AND AMUSEMENT INDUSTRY, INC. (DBA WESTLAND REAL ESTATE GROUP) TO WORK OUT THE TERMS AND CONDITIONS OF A DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE ACQUISITION AND DEVELOPMENT OF CERTAIN AGENCY OWNED PROPERTY LOCATED IN THE COMPTON REDEVELOPMENT PROJECT AREA IN CONNECTION WITH THE AGENCY 2010 TAX ALLOCATION BOND PROGRAM WHEREAS, the Community Redevelopment Agency of the City of Compton (the "Agency") is carrying out the Redevelopment Plan for the Compton Redevelopment Project Area, as merged and amended by Ordinance No. 2,114 adopted by the City Council on November 16, 2004; and WHEREAS, in the ongoing efforts of transforming Compton s physical, economic, and social fabric into a vibrant, commercial retail center, in accordance to the dictates of the 2010 Tax Allocation Bond program, the Agency is initiating and implementing commercial retail and housing projects adjacent to the Downtown area. The Agency is strategically initiating and implementing additional commercial retail and housing projects adjacent to the Downtown area. Therefore, furthering the City s goal of transforming its City into a local and regional destination place; thus capturing revenues that would be otherwise be lost and spent in neighboring competing cities; and WHEREAS, the Agency is in receipt of a proposal from Amusement Industry, Inc., dba Westland Real Estate Group, to develop a high quality retail commercial project through the acquisition of certain Agency-owned property and development of that property into a commercial retail use. The proposed development is located on Agency owned property identified by Assessor s Parcel Number # ,901,902,903 (known as 110 North Bowen Avenue and 114 North Bowen Avenue); and WHEREAS, key components of the developer s proposal call for construction of a Prime Commercial Retail Shopping Center development at the corner of two of the City s main thoroughfares that would include a large full service grocery store, soft goods clothing and retail store(s), financial banking institution and restaurant uses. The project will incorporate the Agency s Smart Growth Design and principles that encourage a vibrant atmosphere, open public space, public art and a modern architectural design that will attract additional retail and private investment into City; and WHEREAS, in order to fulfill the objectives of the proposed development, Amusement Industry, Inc. is requesting an Exclusive Negotiation Agreement (ENA) for a period of 9 months to work out the terms and conditions, thus culminating into a Disposition and Development Agreement (DDA). NOW, THEREFORE, THE URBAN COMMUNITY DEVELOPMENT COMMISSION, ACTING AS THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF COMPTON, DOES HEREBY RESOLVE AS FOLLOWS: Section 1. That the Executive Secretary is hereby authorized to enter into Exclusive Negotiation Agreement for a period of nine (9) months with the Amusement Industry, Inc., dba Westland Real Estate Group, to work out the terms and conditions of a Disposition and Development Agreement for the acquisition and development of Agency owned property located at Assessor s Parcel Numbers , 901, 902, and 903 (known as 110 North Bowen Avenue and 11r4 North Bowen Avenue) in the Compton Redevelopment Project Area. Section 2. That a certified copy of this resolution shall be filed in the offices of the Executive Secretary, City Attorney, City Controller, Community Redevelopment Agency, and Clerk. -3-

6 #1. Resolution No. Page 2 Section 3. That the Chairman shall sign and the Clerk shall attest to the adoption of this resolution. ADOPTED this day of, 2011 CHAIRMAN OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION ATTEST: CLERK OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF COMPTON: ss I, Alita Godwin, Clerk of the Urban Community Development Commission of the City of Compton, hereby certify that the foregoing resolution was adopted by the Commission, signed by the Chairman, and attested by the Clerk at the regular meeting thereof held on the day of, That said resolution was adopted by the following vote, to wit: AYES: COMMISSIONERS - NOES: COMMISSIONERS - ABSENT: COMMISSIONERS - CLERK OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION -4-

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10 #1. Mr. Yanki Greenspan Westland Real Estate Group 6665 Long Beach Blvd., Long Beach, California Re: NEC Compton Blvd. & Long Beach Blvd. Compton, California Dear Yanki, It was a pleasure meeting with you regarding the potential retail site at the northeast corner of Compton Blvd and Long Beach Blvd. in Compton, CA. As we discussed, El Super is sincerely interested in locating a new store in the Compton community and is motivated to complete an agreement with Westland Industries to lease a new store at the subject location. Please let me know how we can facilitate the redevelopment process for this location and when you have entered in to an ENA with the City of Compton to develop this site. Obviously, we will then be in a position to provide a more detailed letter of interest and commence lease discussions. I look forward to working with you on this transaction. Best regards, L. David McKinney Real Estate EL Super Cc: Patrick Gilhooly Manny Bukiet Bodega Latina Corporation B Lakewood Blvd., Paramount, CA Phone: (562) Fax (562)

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18 #1. David Bonanni Vice President Market Director of Real Estate Southern CA Region Retail Financial Services CA El Toro Road Laguna Hills, CA (949) Office (949) Fax November 18, 2010 Dr. Kofi Sefa-Boakye Director Compton Community Redevelopment Agency 205 S. Willowbrook Ave Compton, CA Re: JP Morgan Chase s Interest In building Chase Bank Branches in Compton Dear Dr. Sefa-Boakye: It was a pleasure to meet with you and your staff at the ICSC conference in San Diego and subsequent meetings at your offices. Pursuant to our conversation, please let this letter serve as our interest in pursuing potential opportunities to develop one or more Chase bank branches in the following areas in Compton: 1.) N.E.C. Compton Boulevard and Long Beach Boulevard In addition to the above, I would consider any other sites that make sense to us. Chase is excited at the opportunities available, and I feel confident that Chase would be a valuable corporate citizen to your community. I look forward to working with you, your staff, and development partners. Should you have any questions, please feel free to call me at (949) Sincerely, David Bonanni Vice President, Market Director of Real Estate -16-

19 #1. RESOLUTION SIGN-OFF FORM DEPARTMENT: Community Redevelopement RESOLUTION TITLE: A RESOLTUION OF THE URBAN COMMUNITY DEVELOPMENT COMMISSION, ACTING AS THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF COMPTON AUTHORIZING THE EXECUTIVE SECRETARY TO ENTER INTO AN EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY AND AMUSEMENT INDUSTRY, INC. (DBA WESTLAND REAL ESTATE GROUP) TO WORK OUT THE TERMS AND CONDITIONS OF A DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE ACQUISITION AND DEVELOPMENT OF CERTAIN AGENCY OWNED PROPERTY LOCATED IN THE COMPTON REDEVELOPMENT PROJECT AREA IN CONNECTION WITH THE AGENCY 2010 TAX ALLOCATION BOND PROGRAM <ManagersName> DEPARTMENT MANAGER S SIGNATURE <ManagersDate> DATE REVIEW / APPROVAL <LegalName> CITY ATTORNEY <LegalDate> DATE <ControllerName> CITY CONTROLLER <ControllerDate> DATE <CityManager> CITY MANAGER <CityManagerDate> DATE Use when: Public Works: City Attorney: When contracting for Engineering Services. When contracting for legal services; contracts that require City Attorney s review. Controller/Budget Officer: Amending Budget; appropriating and/or transferring funds; adding and/or deleting positions; any resolution having account numbers. Asst. City Manager/OAS: All personnel actions. -17-

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