08-13-2018 BPU RPT 11 - Laserfiche WebLink

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W A T E R E N F R F. V I T F F IEVISED RIVERSIDE PUBLIC UTILITIES u . Ili& Board Memorandum P U B L I C U T I L I T I L S BOARD OF PUBLIC UTILITIES DATE: AUGUST 13, 2018 ITEM NO: 11 SUBJECT: REAL PROPERTY EXCHANGE AGREEMENT BETWEEN THE CITY OF RIVERSIDE, THE CITY OF SAN BERNARDINO, AND GWS#4 DEVELOPMENT, LLC, AMENDED AND RESTATED GROUND LEASE AGREEMENT WITH GWS#4 DEVELOPMENT, LLC, AND EASEMENT FOR UTILITY CONNECTIONS AND EXISTING SEWER LINE TO CITY OF SAN BERNARDINO FOR THE CITY OWNED PROPERTY LOCATED AT 1494 SOUTH WATERMAN AVENUE IN SAN BERNARDINO ISSUES: Recommend that City Council approve the Real Property Exchange Agreement between the City of Riverside, City of San Bernardino, and GWS#4 Development, LLC, the Amended and Restated Ground Lease Agreement with GWS#4 Development, LLC on 62 9761.83 acres, and an easement for utility connections and existing sewer line to the City of San Bernardino, for the City owned property located at 1494 South Waterman Avenue in San Bernardino. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: Approve the Real Property Exchange Agreement between the City of Riverside, the City of San Bernardino, and GWS#4 Development, LLC covering 12 parcels for the City owned property located at 1494 South Waterman Avenue in San Bernardino; 2. Approve the Amended and Restated Ground Lease Agreement with GWS#4 Development, LLC on 62 97 61.83 acres; 3. Approve the Easement for utility connections and existing sewer line to the City of San Bernardino; and 4. Authorize the City Manager, or his designee, to execute the Real Property Exchange Agreement, the Amended and Restated Ground Lease Agreement, and Utility Easement, including making minor, non -substantive changes, and to sign all documents and instruments necessary to complete the transactions. BACKGROUND: On March 7, 2017, City Council approved a 55 -year term Ground Lease Agreement with GWS#4 Development, a California limited liability company of Ontario, California (Original Lease) for development of its Alliance California Gateway South Building 4 (Project) on 60.318 acres of City owned property located at 1494 South Waterman Avenue in San Bernardino. The Original Lease included a conceptual Termination Agreement intended to terminate the existing ground lease agreement between the City and J. G. Golfing Enterprises, Inc. to operate the Waterman Golf Course, a Purchase and Sale Agreement with Page 89