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ITEM 9
City Council Memorandum Cultural Development Memo No.
Date:
July 20, 2023
To:
Mayor and Council
Thru:
Joshua H. Wright, City Manager
Andy Bass, Deputy City Manager
From:
Kim Moyers, Cultural Development Director
Subject:
Ordinance No. 5061 adopting the provisions of a Development Agreement and Purchase Agreement between JEMBJACD, LLC, and the City of Chandler for the sale and development of .36 acres of City-owned property located at the southwest corner of Chicago Street and Oregon Street
Proposed Motion:
Move City Council introduce and tentatively adopt Ordinance No. 5061 adopting the provisions of a Development Agreement and Purchase Agreement between JEMBJACD, LLC, and the City of Chandler for the sale and development of .36 acres of City-owned property located at the southwest corner of Chicago Street and Oregon Street.
Background:
On August 12, 2021, City Council directed staff to prepare a Request for Proposal (RFP) for approximately .36 acres of City-owned property located at the southwest corner of Chicago Street and Oregon Street, also known as 200 & 210 South Oregon Street. After failed negotiations with the originally chosen developer of the RFP, City Council directed staff to begin negotiations for a Development Agreement with the second ranked developer, JEMBJACD, LLC.
The terms of the Development Agreement and Purchase Agreement include the selling of property at an appraised value of $200,000, with the right to re-purchase the property from developer at the originally purchased price should the developer not complete the minimum improvements outlined in the Development Agreement. The developer intends to construct a "food hall" featuring a minimum of six and a maximum of twelve restaurants and/or retail outlets with a level of quality commensurate with other businesses operating in Downtown Chandler. Minimum improvements include a single two-story building consisting of a minimum of 15,000 square feet of mixed-use building space with a central bar area surrounded by multiple retail and restaurant tenants. Other improvements include outdoor upper-deck patio seating, trash and back-of-house services at the rear of the property, and a drive aisle for pickup, drop-off, and other temporary activities.
Construction deadlines are outlined in the Development Agreement and include developer's submittal for land use entitlements within six months of the effective date of the Agreement, final approval of the Planned Area Development and/or Preliminary Development Plan within twelve months of the Agreement, and commencement of construction within either six months from the approval of civil plans or twenty-four months from the effective date of the agreement, whichever is sooner.
Financial Implications:
JEMBJACD, LLC, will purchase .355 acres of property at 200 South Oregon Street and 210 South Oregon Street for the appraised value of $200,000, the proceeds of which will be deposited in the General Fund, Sale of Property Account (101.0000.4620).
Attachments
Ordinance 5061
Development Agreement
Purchase Agreement
Location Map
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