For City Council Meeting [July 12, 2016]
TO: Honorable Mayor and City Council
APPROVAL: Michael Story, City Administrator
FROM: Robb Steel, Asst.CA/Development Services Director
Title
Request City Council to Set a Public Hearing for July 26, 2016 to Consider Introduction for First Reading of Ordinance No. ___ entitled "AN ORDINANCE OF THE CITY OF RIALTO APPROVING A DEVELOPMENT AGREEMENT NO. 16-01 BY AND BETWEEN THE CITY OF RIALTO AND ALDER OPPORTUNITY, LLC AND MAKING CERTAIN FINDINGS THEREIN IN CONNECTION THEREWITH," reading by title only and waiving further reading thereof.
Body
BACKGROUND:
Panattoni Development Company and Alder Opportunity, LLC ("Owner") submitted various development applications to construct an approximately 200,845 square foot warehouse (the "Project") on a 9.24-acre site consisting of eight parcels at the northwest corner of Alder Avenue and Walnut Avenue ("Site"). The site map is attached hereto as Exhibit A and the site plan and elevations are attached hereto as Exhibit B.
On May 25, 2016, the Planning Commission approved Tentative Parcel Map No. 19726, Conditional Development Permit No. 804, and the Mitigated Negative Declaration. On May 26, 2016, the City recorded the Notice of Determination with the County of San Bernardino.
On June 29, 2016, the Planning Commission conducted a public hearing and forwarded a recommendation that the City Council approve the Development Agreement.
ANALYSIS/DISCUSSION:
Development Agreement
The Owner requested a development agreement with the City related to the Project. A development agreement is a voluntary contract between the municipality and a developer, which should confer economic benefits to each party. The City mitigates development risk for the developer by granting land use entitlement protection, and limiting the applicability of subsequent rule changes and fee increases. For this, the City typically receives consideration in the form of development agreem...
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