Authorization to Terminate the Exclusive Negotiation Agreement with Olson Urban Housing LLC for the Washington Boulevard/Centinela Avenue Redevelopment the Purchase of Certain Documents Relative to the Property and Issuance of a Request for Proposal for the Redevelopment of the Site. City of Culver City California Redevelopment Agency Agenda Item Report Meeting Date: 04/16/07 AGENDA ITEM: Authorization to Terminate the Exclusive Negotiation Agreement with Olson Urban Housing LLC for the Washington Boulevard/Centinela Avenue Redevelopment the Purchase of Certain Documents Relative to the Property and Issuance of a Request for Proposal for the Redevelopment of the Site. Contact Person/Dept.: Joe Susca Phone Number: 310 253 5763 Item Number: Fiscal Impact: Yes X No General Fund: Yes No X Public Hearing: Action Item: X Attachments: Public Notification: A postcard announcing the meeting was mailed to businesses and residents adjacent to the project (04/02/07); Peter Woo Jack Woo Charles Woo Shu Woo and their attorney Peter Wallin; John Reekstin of The Olson Company; Barry Peterson and Eric Grodan of the California Community Foundation; and the Master E Mail Notification List (04/11/07). Department Approval: Todd Tipton (04/05/07) City Controller Approval: Marlee Chang (04/11/07) Executive Director Approval: Jerry B. Fulwood (04/11/2007) RECOMMENDATION: Staff recommends the Culver City Redevelopment Agency ( the Agency ) direct staff to terminate the Exclusive Negotiation Agreement with Olson Urban Housing LLC for the Washington Boulevard/Centinela Avenue redevelopment to purchase certain documents relative to the property and to either issue a Request for Proposal for redevelopment of the site or put it up for sale to the highest bidder. BACKGROUND: Olson ENA During its meeting of September 9 2004 the Agency approved entering into an ENA with Olson for redevelopment of several parcels within the vicinity of Washington Boulevard and Centinela Avenue. On October 17 2005 th...
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