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File #: 25-226    Version: 1 Name:
Type: Minute Order Status: Action Item
File created: 8/20/2024 In control: City Council Meeting Agenda
On agenda: 10/28/2024 Final action:
Title: SA - ACTION ITEM: Approval of an Amendment to the Disposition and Development Agreement by and between the Successor Agency to the Culver City Redevelopment Agency and Culver Public Market, LLC, Related to a Commercial Project at Washington Boulevard and Centinela Avenue (Culver Public Market) located at 12337 - 12423 Washington Boulevard, 4061 - 4063 Centinela Avenue, and 4064 Colonial Avenue.
Attachments: 1. Proposed Amendment to Disposition and Development Agreement.pdf, 2. Anticipated Project Tax Projections
title
SA - ACTION ITEM: Approval of an Amendment to the Disposition and Development Agreement by and between the Successor Agency to the Culver City Redevelopment Agency and Culver Public Market, LLC, Related to a Commercial Project at Washington Boulevard and Centinela Avenue (Culver Public Market) located at 12337 - 12423 Washington Boulevard, 4061 - 4063 Centinela Avenue, and 4064 Colonial Avenue.
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Meeting Date: October 28, 2024
Contact Person/Dept: Elaine Warner/Office of Economic and Cultural Development

Phone Number: (310) 253-5777

Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [X] No []
Public Notification: (E-Mail) Meetings and Agendas - City Council (10/23/2024)
Department Approval: Jesse Mays, Assistant City Manager (08/27/2024)
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RECOMMENDATION

Staff recommends the Governing Board of the Successor Agency approve an amendment to the Disposition and Development Agreement by and between the Successor Agency to the Culver City Redevelopment Agency and Culver Public Market, LLC, related to a commercial project at Washington Boulevard and Centinela Avenue (Culver Public Market).


BACKGROUND

In October 2018, the Successor Agency to the Culver City Redevelopment Agency (Successor Agency) entered into a Disposition and Development Agreement (DDA) with Culver Public Market, LLC (Developer) for the development an artisanal market hall with food vendors and restaurants located on two sites at the northerly corners of Washington Boulevard and Centinela Avenue (Project). The Project was to be curated by UrbanSpace, an approved master lessor with market hall expertise. Subsequently, a separate City Development and Construction Contract (DCC) was executed to require the Developer to construct a three and a half-level public parking structure that would accommodate approximately 180 public parking spaces to serve the Project and t...

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