2003 AGN JUL 01 I22 - Laserfiche WebLink

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Item #22 CITY OF COLTON AGENDA REPORT FOR THE CITY COUNCIL MEETING OF JULY 1, 2003 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Al Holliman, Assistant City Manager SUBJECT: Amendments to Agreements with Big League Dreams DATE: June 23, 2003 BACKGROUND Since September of 1999, the City has been in negotiations with Big League Dreams for the construction and management of a Community Sports Park, culminating in the approval of revised agreements in October of 2001 The original site for the complex consisted of 16 acres behind the former Frontier Town development on Valley Boulevard, bordered by Hermosa and Meridian Avenues. Because of the Endangered Species Act issues involving the Delhi Sands Flower Loving Fly and the city's inability to reach reasonable mitigation measures with the United States Fish and Wildlife Service, escrow was not closed on the original site. As a result, staff began exploring the possibility of acquiring an alternate site. C&NIR1.1N7!I7.1II_1AIN6 Pursuant to City Council direction in closed session, staff has been negotiating with East Valley Land Company (EVLC) for the acquisition of a site, across from Ashley Furniture. Because land in that area is relatively expensive, given its location and freeway visibility, staff worked with EVLC and Big League Dreams to make the sports park amenities as compact and efficient as possible to reduce the amount of land needed. As a result, the new proposed site is 11.3 acres, but all original amenities remain with the exception of a skateboard park component. The base purchase price is $2,379.465 representing $4.75 per square foot of land area. In addition, the City is obligated to pay for the delivery of 15,000 cubic yards of fill material, completion of a storm drain system, improvement, and incidental planning and engineering costs totaling $85,750. The total contract price is therefore $2,465,215. Because of the desirability of this site due to its high freeway visibility, Big League Dreams is willing to increase their financial participation (loan responsibility) in the project by $1 million from $1.5 million to $2.5 million. The sports complex will consist of the standard Big League Dreams design and will include three major league stadium replica baseball fields, a covered pavilion for indoor soccer, hockey, and community events, batting cages, sand volleyball lot, tot -lots, restaurant, and parking. Because of the aforementioned changes, amendments to the agreements with Big League Dreams are, once again, necessary. Attached are the revised agreements which evidence these changes. Full implementation of the agreements and commencement of project construction are contingent upon approvals subject to CEQA and related planning and permitting processes. FINANCIAL IMPACT Funding for the $2,465,215 acquisition cost for the new site is available in General Fund fund balance, #100-2790. It is proposed that $1,465,215 come from that account. The remaining $1,000,000 is to come from an increase in Big League Dreams participation (increasing from $1,500,000 to $2,500,000). Their participation is in the form of a loan they are