Present- - - - -

Absent - - - - -

Also Present -

Members Golonski, Ramos, Vander Borght and Laurell.

Member Murphy.

Mr. Ovrom, City Manager; Ms. Alvord, Assistant City Manager; Mr. Barlow, City Attorney; Mrs. Georgino, Assistant Executive Director; and, Mrs. Campos, Secretary.

5:04 P.M.

Recess

The Agency recessed at this time to the City Hall Basement Lunch Room/Conference Room to hold a Closed Session on the following:

Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan M. Georgino.

Property:  Former police block bounded by Olive Avenue, Third Street, Angeleno Avenue and San Fernando Boulevard (except APN 2453-13-010, commonly referred to as the Radio Shack parcel).

Parties With Whom Agency is Negotiating:  Mark Buckland of the Olson Company.

Terms Under Negotiation:  Possible sale of Agency-owned property.

Regular Meeting

Reconvened in

Council

Chambers

The regular meeting of the Redevelopment Agency of the City of Burbank was reconvened at 6:41 p.m. by Mr. Laurell, Chairman.

Invocation

The invocation was given by Rabbi Richard Flom, Temple Emanuel.

Flag

Salute

The pledge of allegiance to the flag was led by Joy Forbes, Principal Planner.

Present- -

Absent - - - - - -

Also Present - -

Members Golonski, Ramos, Vander Borght and Laurell.

Member Murphy.

Mr. Ovrom, City Manager; Ms. Alvord, Assistant City Manager; Mr. Barlow, City Attorney; Mrs. Georgino, Assistant Executive Director; and, Mrs. Campos, Secretary.

6:55 P.M.

Jt. Public Hrg. w/

City Council

RA 62

Opportunity Site

No. 2 (Old Police

Block) Burbank

Village Walk �

The Olson Co.

Commissioner Laurell stated that �this is the time and place for the joint public hearing of the Redevelopment Agency and the Council of the City of Burbank regarding the Burbank Village Walk project located on the block bounded by Third Street, Angeleno Avenue, San Fernando Boulevard and Olive Avenue, but 1) excluding approximately 37,200 square feet of land at the corner of Olive Avenue and Third Street and 2) excluding approximately 15,000 square feet at the corner of San Fernando Boulevard and Olive Avenue.  The Applicant is Olson Urban Housing LLC.  The various components of this project are a Disposition and Development Agreement; a rezoning to the Planned Development No. 2002-1 zone to allow for a mixed use project of residential/retail/restaurant; a Development Agreement related thereto; and Tentative Tract Map No. 53905 to allow for the subdivision of the site to 140 residential units, of which 14 will be maintained as affordable units for moderate income residents.  In addition, a Mitigated Negative Declaration will be considered which addresses the Burbank Village Walk Project as well as an adjacent office/retail development project.�

Notice

Given

The secretary was asked if notices had been given as required by law.  She replied in the affirmative and advised that no written communications had been received.

Staff

Report

Ms. Davidson-Guerra, Senior Redevelopment Project Manager, presented a brief project background and stated the Burbank Village Walk (BVW) project included a 140 unit residential component with approximately 14,000 square feet (sq ft) of restaurant/retail uses, proposed at the site bound by Olive Avenue, Third Street, Angeleno Avenue and San Fernando Boulevard, excluding the parcel at the corner of Olive Avenue and San Fernando Boulevard, commonly referred to as the Radio Shack Parcel. She reported in May 1997, the Redevelopment Agency (Agency) released the initial request for development proposals and selected Regent Properties as a developer for the site, but the developer withdrew from the project necessitating the Agency to release a second request for development proposals, which resulted in a development team of two joint partners, CIM and the Olson Company. CIM withdrew and consequently the Agency Board directed staff to move forward with negotiations with the Olson Company and to carve out a portion of the site for future office development.

She also reported since that time, the Cusumano Group submitted a proposal for a 100,000 sf office project to be located at the corner of Olive Avenue and Third Street. This proposed project was considered by the Planning Board on February 10, 2003. She noted over the course of the years, the Agency assembled the entire project site, relocated all the former tenants, and was in the process of asbestos and lead abatement, along with utility relocation and demolition of the structures remaining on site.

Mrs. Forbes, Principal Planner, addressed the land use zoning and entitlement matters, stating the site is located in Downtown Burbank.  She identified the site location and the jut-out at Olive Avenue which is necessary to create a private alley for access to one of the two levels of subterranean parking on the site. She noted this parking level will house 120 public parking spaces replacing the public parking that will be demolished on the site, the guest parking for residential units, as well as the residential parking spaces that will be separated with a security gate. She stated the other parking level would be accessed from Angeleno Avenue to exclusively serve the residential units, and would be secured with a gate. She also noted the 14,000 sq ft of restaurant and retail space along San Fernando Boulevard with the residential units above continuing along Angeleno Avenue and Third Street, to the center of the project site.

Mrs. Forbes reported in order for the Council to approve a Planned Development (PD) project, certain design criteria, including consistency with the Burbank Center Plan and the project�s ability to provide open areas and pedestrian amenities, must be met. She commented on the amenities, design criteria and compatibility of the proposed project with the adjacent neighborhoods. She also added a Mitigated Negative Declaration tiered off the Burbank Center Plan Environmental Impact Report (EIR) was prepared for this project as a CEQA requirement and to fully consider all the environmental impacts of the project site. The declaration included all proposed development on the site including the referenced office building project and discussed how a larger project was anticipated by the Burbank Center Plan EIR. She reported the Planning Board, by a 4-0 vote, recommended approval of the PD to the Council and the mitigated negative declaration subject to the conditions as proposed. She also discussed the landscape plan and design.

Ms. Davidson-Guerra stated since the proposed project required the Agency to sell property to the developer, a Disposition and Development Agreement (DDA) has been negotiated with the purpose of documenting the real estate transaction and outlining the specific roles of the developer and Agency. She also discussed the fiscal impacts related to the project and stated the project will cost $6.7 million in property acquisition, demolition, tenant and utility relocation, and contingencies. On the revenue side, she stated in addition to the land sale proceeds of approximately $3 million, the City Center Redevelopment Fund would realize property tax increment revenue totaling approximately $5.1 million in present value terms, considering a 6 percent discount factor, with the total revenue anticipated at $ 8.2 million in present value terms.

With regard to the project schedule, she reported the Agency would open escrow within three to thirty days, the developer would proceed with design development drawings and construction plans, and ground breaking for the project was anticipated for fall 2003 with project completion trailing in 18-24 months for a fall 2005 completion date. She concluded with a discussion of the benefits of the project to the downtown area and staff recommendation for Council approval of the BVW project.

Applicant

Mark Buckland, President of the Olson Company gave a brief background of the Olson Company and cited a number of projects they have recently been completed in the cities of Hayward, Pasadena, Santa Ana, and in the San Diego area, and noted the financial strength of the company.  He also mentioned the project would be tailored to the need for housing for singles and new couples in the entertainment industry in Burbank. 

Hearing

Closed

There being no response to the Chairman�s invitation for oral comment, the hearing was declared closed.

Mr. Golonski remarked on the numerous false starts the site had endured, stated he and Ms. Murphy recommended the project to the Council, and noted the provision of moderate housing opportunities and livening-up the downtown area would be of benefit to the adjacent uses in the downtown.  He also noted the Olson Company was a premier company specialized in this type of development.

Mr. Vander Borght remarked on the opportunity to bring a mixed-use project into the area, and the costly effort to subsidize the affordable units.  He expressed concern with the San Fernando Boulevard frontage and activities of the restaurant, suggested an increase in open space dining area, and noted the setback of the residential units represented an urban environment.  He also noted the reality of the office market, the strength of the Olson Company, and the office component being developed by the Cusumano Company. He recognized the need for the non-refundable deposits required of the developer to ensure the project advanced.

Mrs. Ramos expressed approval of the pedestrian interactive design concept along the San Fernando Boulevard frontage, noted the affordability factor in this project, and the overwhelming benefits, in relation to the project�s location to a major transportation hub.

Mr. Laurell indicated support for the project and noted the length of time vested in this project as well as the quality of the two developers on the project site.

Mr. Golonski requested Mr. Vander Borght clarify his comments regarding accommodating an increased outdoor dining area along San Fernando Boulevard, and Mr. Buckland agreed to consider Mr. Vander Borght�s request to redesign the restaurant once a tenant was obtained. 

City Council

Reso. Adopted

City Council Resolution No. 26,424 Adopting a Mitigated Negative Declaration (Old Police Block, Includes Burbank Village Walk) was adopted.

City Council

Reso. Adopted

City Council Resolution No. 26,425 Approving Tentative Tract Map No. 53905 and Consenting to the Sale of Property (Olson Urban Housing LLC, Applicant) was adopted.

City Council

Ord. Title Read

City Council Ordinance Approving Planned Development No. 2002-1 and a Development Agreement Related Thereto (Burbank Village Walk) was read and passed to the second reading.

Motion

It was moved by Mr. Vander Borght and seconded by Mr. Golonski that �the following resolution be passed and adopted:�

RA 62

Approving

DDA w/Olson

Urban Housing

LLC

RESOLUTION NO. R-2055:

A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF BURBANK APPROVING THE TERMS AND PROVISIONS AND AUTHORIZING EXECUTION OF THE DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE AGENCY AND OLSON URBAN HOUSING LLC. (BURBANK VILLAGE WALK).

Adopted

The resolution was adopted by the following vote:

Ayes:      Members Golonski, Ramos, Vander Borght and Laurell.

Noes:      Members None.

Absent:   Member Murphy.

7:38 P.M.

Recess

The Agency recessed at this time to permit the Youth Endowment Services Fund Board and the City Council to continue their meetings. The Agency reconvened at 9:59 p.m. for public comment with the same members present.

10:18 P.M.

Adjournment

There being no further business to come before the Agency, the meeting was adjourned at 10:18 p.m.