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SR-506-004-06 (2) ,. I '1!J . IF RM D: 8M: D RF :\RESOU RCE\SHARE\ST AFFREPORTS2004\ Vicente Terrace .doc May 11 , 2004 Santa Monica, California MAY 1 1 2004 TO: Chairperson and Redevelopment Agency FROM: City Staff SUBJECT: Resolution Authorizing the Granting of a Street Easement to the City of Santa Monica for Vicente Terrace and Authorizing the Executive Director to Execute Any Necessary Related Documents INTRODUCTION Staff recommends that the Redevelopment Agency adopt the attached resolution authorizing the granting of an easement for street purposes from the Redevelopment Agency to the City of Santa Monica for Vicente Terrace, a new public street, and authorize the Executive Director to execute any necessary related documents. BACKGROUND On October 26, 1999, the City Council approved the Agency's purchase of over 11.3 acres of RAND property between Main Street and Ocean Avenue within the proposed Civic Center Specific Plan area. Under the terms of the agreement, RAND retained approximately 3.5 acres of its property contiguous to Main Street immediately north of Pico Boulevard. On October 24, 2000, the City Council approved a Development Agreement for the new RAND office headquarters that is currently under construction on its retained property. On November 6, 2003, an Informational Item was provided to City Council in response to the Council's discussion on October 14, 2003, regarding the proposed vacation of the First Court alley adjacent to the new RAND headquarters. After discussion with RAND and City staff, it was determined that the vacation of the 1 IF MAY 1 1 2004 alley is not necessary, at the present time, for the RAND development to continue forward and complete construction with a functional loading dock. DISCUSSION In accordance with the Development Agreement, both the Redevelopment Agency and RAND are responsible for conveying land to the City for the construction of Vicente Terrace. RANDS's obligation to convey a portion of the property for the construction of a new street is contingent upon the Agency's conveyance of a 15-foot portion of Agency land to the City, and that the City provides that portion for the construction of the street. (Attachment A). The total property area for conveyance by the Agency is approximately 15' x 160', or 2,400 square feet. The construction of Vicente Terrace includes the lengthening and widening of an existing alley located west of Main Street and east of Ocean Avenue, along the south side of the RAND property (Attachment B). RAND is responsible for the construction cost. The conveyance will be in the form of an easement for street purposes and will occur before or concurrently with the City's issuance of the Certificate of Occupancy for RAND's office headquarters, or when the City deems necessary. The City is not responsible to the Agency for any compensation. 2 BUDGET/FINANCIAL IMPACT There is no budgetary or financial impact associated with this action. RAN D is responsible for construction of Vicente Terrace at its sole cost. RECOMMENDATIONS Staff recommends that the Redevelopment Agency adopt the attached resolution authorizing the granting of an easement for street purposes to the City of Santa Monica for Vicente Terrace and authorizing the Executive Director to execute any necessary related documents. Prepared by: Jeff Mathieu, Director of Resource Management Robert Moncrief, Housing and Redevelopment Manager Tina Rodriguez, Redevelopment Administrator Ron Barefield, Housing Administrator Craig Perkins, Director of Environmental and Public Works Management Anthony Antich, City Engineer Donna Rickman, Senior Administrative Analyst Attachment A Easement Area for Vicente Terrace Attachment B Legal Description and Map - Attachment C Resolution ~e ~ %Sol>>+l~ no . q8iQ (R~~) 3 ATTACHMENT A LAND AREA FOR VICENTE TERRACE STREET EASEMENT ! ~ ,..,......., Proposed Vicente Terrace ............ Area of RAND street easement I I Proposed street easement arE~a by the Redevelopment Agency F:\, , ,CityCouncil\StaffReports\LandDedication VTMap.doc ( PUC S1d S3.Jyru~'.:[ OJA va ~rJ!I1 i' / ' . 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