Title
RESOLUTION 5144: AUTHORIZATION TO ENTER INTO A PARTIAL SATISFACTION OF DEVELOPMENT AGREEMENT AS TO CERTAIN IDENTIFIED ZANJERO APARTMENTS PROJECT
Staff Contact: Michael D. Bailey, City Attorney
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Purpose and Recommended Action
Recommendation
This is a request for City Council to waive beyond reading the title and adopt a resolution authorizing the City of Glendale to enter into a Partial Satisfaction of Development Agreement ("Agreement") as to certain property, commonly known as Zanjero Apartments. This is also a request for City Council to authorize the City Attorney to make final changes consistent with the intent of the Agreement.
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Background
In 2005 the City entered into a Development Agreement with Citation Land Company for the development of the Zanjero Planned Area Development (PAD) (the original PAD includes a mixed use development for 158 acres for such land uses as hotels, retail, multi-family residential and restaurants). Among other things, the development agreement provides for zoning densities different than those set forth in the PAD. Additionally, the development agreement sets forth the mechanism by which the City will be reimbursement for $6,700,000 of infrastructure improvements.
Recently, the City Council approved General Plan Amendment GPA 15-02 and Rezoning Application ZON15-07 for "Zanjero Apartments". The development consists of 175 one bedroom units, 147 two bedroom units and 18 three bedroom units for a 340 unit multi-family residential community. The multifamily complex will offer 198 uncovered parking spaces, 320 covered parking spaces and 101 garages for a total of 619 parking space options for residents and guests.
Additionally, the proposed satisfaction initiates the process to eliminate the inconsistencies between the PAD and the development agreement while also recognizing that as of end of Fiscal Year 2015, the City has received revenue greater than $6,700,000.
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