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CC - (1) Report on the Status of City-Owned Property Located at 9814 Washington Boulevard; and (2) Direction to the City Manager as Deemed Appropriate.
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Meeting Date: March 11, 2019
Contact Person/Dept: Todd Tipton/Economic Development
Phone Number: 310-253-5783
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: []
Commission Action Required: Yes [] No [X] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (03/06/19); Downtown Business Association (03/06/19).
Department Approval: Sol Blumenfeld, Community Development Director (02/05/19)
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RECOMMENDATION
Staff recommends the City Council (1) receive a report on the status of City-owned property located at 9814 Washington Boulevard; and (2) provide direction to the City Manager as deemed appropriate.
BACKGROUND
In 2003, a Disposition and Development Agreement (DDA) was executed between the Culver City Redevelopment Agency (CCRA) and Center Theatre Group (CTG) to renovate the historic Culver Theater into a live-performance venue and the adjacent property (Property) at 9814 Washington Boulevard into a performance venue and small rehearsal space.
Pursuant to the DDA, the Culver Theater was renovated and renamed the Kirk Douglas Theatre (KDT) while the Property was not. Because the Property was not developed it reverted to the CCRA in 2010. Shortly thereafter the CCRA began discussions with the Jazz Bakery about developing the Property as a state of the art jazz venue. Those discussions led to the execution of a Commitment Letter in early 2012, which was extended numerous times while the Jazz Bakery attempted to raise the required capital.1
The Jazz Bakery recently indicated it would not proceed with the project because it could not raise the capital required to develop the site as ...
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