AR 051507 Retail Development Group

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ITEM #24 CITY OF COLTON FOR REDEVELOPMENT AGENCY MEETING OF May 15, 2007 TO: HONORABLE AGENCY CHAIRPERSON AND BOARD MEMBERS FROM: Mark Nuaimi, Assistant City Mana94;:�� Candace Cassel, Economic Development Directq�25 SUBJECT: Consideration and Approval of Agency Resolution No. 862 Authorizing a Purchase and Sale Agreement and Joint Escrow Instructions with Retail Development Group (Gary Schafer). APN 0162-281-04, 0162-281-14, 0162-281-34, 0162-281-52 DATE: May 8, 2007 BACKGROUND: For well over a decade, communities in the Inland Empire have struggled to arrive at a reasonable solution that allows for development to occur while adhering to the requirements of the Endangered Species Act (ESA) to protect the Delhi Sands Flower Loving Fly (DSF). No community has been impacted more directly than the City of Colton. For years, Colton officials have been frustrated with the apparent disregard for impacts to the property owners and residents of the City that DSF protection has demanded. The negative effects of illegal dumping, lost economic development, and delays in infrastructure improvement have prompted Colton officials to pursue delisting of the DSF as an endangered species. In recent months, the City of Colton has been working with representatives from the United States Fish & Wildlife Service (FWS) to arrive at a solution that allows the City of Colton to develop a local economy while the conservation and recovery needs for the Delhi Sands Flower Loving Fly (DSF) are met. From these discussions has emerged the Colton Best Management Plan (CBMP) -- a comprehensive plan that provides funding, expansion, protection, enhancement, and restoration of DSF habitats in the Colton Recovery Unit. In the latest discussions with FWS, a consensus strategy has emerged that allows the City of Colton to develop a regional economy north of the 1-10. The conservation efforts needed to support this economic development include the set-aside of habitat in areas both north and south of the 1-10 freeway. The habitat set-aside north of the 1-10 expands the current Hospital Conservation Site towards city -owned Cemetery property (see Figure 1). There are additional parcels of privately held property that will be required to support this conservation and economic development strategy. The Redevelopment Agency is facilitating this conservation strategy due to the direct benefits that the Agency's West Valley Redevelopment Project may realize as a result of development of the Colton Super Block. Assuming that comprehensive development of the Colton Super Block is permitted by the FWS, considerable additional tax increment is possible for the West Valley Redevelopment Project, facilitating additional redevelopment within the project area.