REPORT TO THE CITY COUNCIL
October 10, 2019
FROM: JENNIFER K. CLARK, AICP, Director
Planning and Development Department
BY: LUPE PEREZ, Downtown Revitalization Manager
Planning and Development Department
SUBJECT
Title
Actions pertaining to the Disposition and Development Agreement between the City of Fresno and Upside Enterprises, LLC for property located at 1517 L Street and 2139 Stanislaus:
1. Approve an Amended and Restated Disposition and Development Agreement between the City of Fresno and Upside Enterprises, LLC, and
2. Approve an Assignment and Assumption of Amended and Restated Disposition and Development Agreement between Upside Enterprises, LLC and Uptown, LP
Body
RECOMMENDATION
Staff recommends the City Council (1) approve an Amended and Restated Disposition and Development Agreement between the City of Fresno and Upside Enterprises, LLC; (2) approve an Assignment and Assumption of Amended and Restated Disposition Development Agreement between Upside Enterprises, LLC and Uptown, LP to construct a mixed use residential and commercial development at 1517 L Street and 2139 Stanislaus (Project Property); and (3) authorize the City Manager to execute all implementing documents approved as to form by the City Attorney.
EXECUTIVE SUMMARY
Upside Enterprises, LLC (Developer) is requesting approval to amend and restate the Disposition and Development Agreement (DDA) approved by the City Council in November 2015 and enter into an Assignment and Assumption of the Restated DDA with Uptown, LP to construct a multi-story, mixed-use development consisting of 58 market rate residential units with commercial/retail space on the ground-floor with a community facility, and fitness amenities with total project costs estimated at $15 million (Project). The Amended and Restated DDA proposes a few changes to the Project's design and revises the Performance Schedule in the current DDA to allow an additional 24 months to construct the Project. ...
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