Approval of the Fourth Implementation Agreement to the Disposition and Development Agreement for the Baldwin Site (12803 23 West Washington Boulevard.) City of Culver City California Agenda Item Report Meeting Date: 3/1/2010 REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of the Fourth Implementation Agreement to the Disposition and Development Agreement for the Baldwin Site (12803 23 West Washington Boulevard.) Contact Person/Dept.: John Fisanotti Phone Number: (310) 253 5767 Item Number: C 1 Fiscal Impact: Yes No X General Fund: Yes No X Public Hearing: Action Item: Attachments: Commission Action Required: Yes No X Date: _______________ Public Notification: E mail Meetings and Agendas Redevelopment Agency (2/24/2010) Department Approval: Sol Blumenfeld (02/12/10) Chief Financial Officer Approval: Mark Scott (by N. Kimball) (02/23/10) Agency General Counsel Approval: Murray O. Kane (02/16/10) Executive Director Approval: Mark Scott (02/24/10) RECOMMENDATION: Staff recommends that the Redevelopment Agency Board (the Board ) approve a Fourth Implementation Agreement to the Disposition and Development Agreement (the DDA ) for the Baldwin Site (12803 23 West Washington Boulevard). BACKGROUND/DISCUSSION: On February 4 2008 the Board approved the DDA with Axis Mundi RE II LLC (the Developer ) for the sale and development of the Baldwin Site (the Site .) The Developer and the Agency subsequently opened escrow and the Developer received its entitlements from the City for the Site on August 22 2008. Since the fall of 2008 the Agency and the Developer have entered into three implementation agreements to extend the schedule of performance in the DDA. According to the schedule now in effect the DDA will expire on March 10 2010. The development as entitled by the City and contemplated under the DDA is a 37 150 square foot structure featuring innovative sustainable design 21 public parking spaces and integrated public art. Approximately 6 000 square feet of retail space on the ...
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