Approval of a Second Implementation Agreement with Axis Mundi RE II LLC for Development of the Baldwin Site (12803 23 West Washington Boulevard) City of Culver City California Redevelopment Agency Agenda Item Report Meeting Date: 05/04/09 AGENDA ITEM: Approval of a Second Implementation Agreement with Axis Mundi RE II LLC for Development of the Baldwin Site (12803 23 West Washington Boulevard) Contact Person/Dept.: John Fisanotti Phone Number: (310) 253 5767 Item Number: A 2 Fiscal Impact: Yes X No General Fund: Yes No X Public Hearing: Public Notification: Master E Mail Notification List (04/29/09) Action Item: X Attachments: X Department Approval: Sol Blumenfeld (04/23/09) Chief Financial Officer Approval: Jeff Muir (by N. Kimball) (04/29/09) Executive Director Approval: Jerry B. Fulwood (04/29/09) RECOMMENDATION: Staff recommends the Culver City Redevelopment Agency ( Agency ) approve the Second Implementation Agreement with Axis Mundi RE II LLC ( Axis Mundi ) for the development of the Baldwin Site located at 12803 23 West Washington Boulevard (the Site ). BACKGROUND: On February 4 2008 the Agency approved the Disposition and Development Agreement (DDA) with Axis Mundi which provides for the sale of the Site to Axis Mundi and the subsequent development of the Site by Axis Mundi. The development proposed for the Site will create: a 37 000 square foot commercial building featuring office condominiums above ground floor retail a 39 space public parking lot to be operated in partnership with the City underground parking for the office users extensive environmentally friendly green features which incorporates the public art component into the building design. The DDA contained a Schedule of Performance which listed tasks and dates which the parties must achieve leading to the sale and development of the Site. The Schedule of Performance required the close of escrow by December 10 2008. On December 8 2008 the Agency approved an Implementation Agreement with Axis Mundi...
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