| | | | | | | | | TO: | Finance and Citywide Projects Committee Members |
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| FROM:
| Jimmy L. Morales, City Manager |
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| | DATE: | March 22, 2019
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| | SUBJECT: | DISCUSS THE DESIGN AND PLAN CONCEPT FOR THE OCEAN TERRACE NEIGHBORHOOD URBAN DESIGN PLAN BY THE CORRADINO GROUP AND REFERRING THE PROPOSED IMPLEMENTATION PLAN FOR PRIORITIZATION AND POTENTIAL FUNDING OPTIONS
DISCUSSION TO CONSIDER THE VACATION OF PORTIONS OF OCEAN TERRACE, 74TH AND 75TH STREETS IN FAVOR OF OCEAN TERRACE HOLDINGS, LLC AND TO NEGOTIATE A DEVELOPMENT AGREEMENT THAT PROVIDES FOR A PUBLIC BENEFIT TO CONSTRUCT THE OCEAN TERRACE PARK PROJECT |
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KEY INTENDED OUTCOME:
Revitalize Key Neighborhoods, Starting With North Beach And Ocean Drive
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| | | | | | | | HISTORY:
On December 12, 2018, the City Commission unanimously adopted the Ocean Terrace Neighborhood Urban Design Plan that was produced by The Corradino Group and Garcia-Pons + Associates. The Finance and Citywide Projects Committee ("FCWPC") then discussed how to implement the plan at its February 20, 2019 meeting. FCWPC directed staff to explore ways to prioritize and fund the proposed public improvement project.
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| | | | | | | | ANALYSIS:
Commissioner Arriola referred the discussion to consider the vacation of portions of Ocean Terrace, 74 and 75th street in favor of Ocean Terrace Holding, LLC and to determine whether the City should negotiate a development agreement that provides for a public benefit. Staff has reviewed funding alternatives for the approximate $15M that would be required to bring the Ocean Terrace Park Plan to fruition and recommends the City Commission consider entering into a public-private partnership with Ocean Terrace Holding, LLC, through a development agreement. The agreement would generally involve the vacation of certain rights-of-way on and adjacent to Ocean Terrace in exchange for a public benefit to fund and/or construct the Park Plan.
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| | | | | | | | CONCLUSION:
The Administration is working on milestones for the implementation of the entire Ocean Terrace Neighborhood Urban Design Plan. The direction, regarding the vacation of portions of Ocean Terrace, will be incorporated into the overall plan.
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