12-01-1998 CC RPT 20 - Laserfiche WebLink

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CITY OF RIVERSIDE CITY COUNCIL MEMORANDUM Honorable Mayor & City Council and Redevelopment Agency Date: December 1, 1998 Item No.: 20 Subject: Request Authorization to Set Joint Public Hearings to Consider Disposition and Development Agreements between the Redevelopmerit Agency and Steven W. Caldwell and Christina Caidwell for the property located at 3275 Lime Street; John Powers for the property located at 3299 Lime Street; and Gary Rodriguez and Gregg Pool for the property located at 3245 Orange Street - Mission Village Project - Merged Airport Industrial/Downtown Project Area Background During 1991 and 1992, the Agency acquired five 1920 vintage single family residences in the Heritage Square historical dislrict that had been converted to multiple units and group homes. The Agency's intent was to restore them to their historic single-family, owner-occupied use. In February, 1998, the Agency solicited proposals from persons interested in acquiring the Heritage Square homes, renovating them according to approved Agency plans for such renovation and living in them as their principal place of residency. On April 13, 1998, eight proposals were received and subsequently evaluated by staff, representatives of the Downtown Neighborhood Advisory Committee and the Agency's construction consultant. Through the evaluation process, staff and review panel members identified certain proposals as being best able to fulfill the Agency and community's expectations for the houses. On July 28, 1998, the joint City Council and the Redevelopment Agency authorized the sale of property located at 3207 Orange Street and 3327 Orange Street, pursuant to Disposition and Development Agreements (DDAs) with Mr. & Mrs. Thomas Hoseman and James Eismann, Jr., respectively. Unfortunately, final candidates for three of the five historic homes were unable to proceed and subsequently dropped out. On September 8, 1998, the Agency authorized staff to solicit new proposals for the remaining three houses. On October 26, 1998, seven proposals were received. The applications were evaluated by staff and members of the review panel based on the following criteria: (1) the construction/renovation experience of applicant; (2) the applicant's thoroughness and understanding of the task, as evidenced by their proposed construction budget and schedule; (3) the financial viability of the applicant; and (4) the applicant's knowledge of and commitment to historical preservation. Through the evaluation process, the applicants determined to best fulfill the Agency and community's expectations were Mr. And Mrs. Steven Caldwell for property at 3275 Lime Street; John Powers for 3299 Lime Street; and Gary Rodriguez and Gregg Pool for 3245 Orange Street. Agency legal counsel is finalizing the DDAs pertaining to the sale of the houses at the aforementioned addresses. Current Status The above referenced buyers have secured letters from lenders indicating their pre-qualification for loan funds sufficient to restore the properties and are prepared to execute the DDA and related Covenants, Conditions and Restrictions (CC&Rs). Together, the DDA and CC&R set forth the contractual relationship between the parties, 20-1