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File #: 20-150    Version: 1 Name:
Type: Special Order of Business Status: Agenda Ready
File created: 1/23/2020 In control: Council and Authorities Concurrent Meeting
On agenda: 1/28/2020 Final action: 1/28/2020
Title: Request to Defer: Information on Alternate Leasing Plan for Department Stores at Related Santa Clara Project [Council Pillar: Promote and Enhance Economic and Housing Development]
Attachments: 1. January 23, 2020 Letter from Related Santa Clara
INFORMATION REPORT TO COUNCIL
SUBJECT
Title
Request to Defer: Information on Alternate Leasing Plan for Department Stores at Related Santa Clara Project [Council Pillar: Promote and Enhance Economic and Housing Development]

Report
BACKGROUND
In accordance with the 2016 Disposition and Development Agreement (DDA) with Related Santa Clara, LLC (Developer) for the development of a 240-acre mixed use project (Project) located north of Tasman Drive on the former Santa Clara Golf & Tennis site, on December 3, 2019, the Developer submitted a letter requesting approval of an Alternate Leasing Plan, removing best effort leasing obligations for Major Department stores within the CityCenter (Phases 1, 2, and 3).

The DDA requires that the City Manager provide an informational report to Council concerning the Developer's leasing efforts and the Alternate Leasing Plan. The Council may provide feedback on the request for best efforts relief and the Alternate Leasing Plan, but no formal action needs to be taken. The City may suggest alternate marketing efforts or revisions to the Alternate Leasing Plan, including contacting certain tenants or other options.

Prior to 90 days following the Developer's submission of the letter (i.e., March 1, 2020), the City Manager must issue a letter relieving the Developer of the best effort requirement so long as the Developer has complied with the substantive requirements in the DDA.

DISCUSSION
The Alternate Leasing Plan was scheduled for Council discussion on the January 28, 2020 agenda. On January 23, 2020, the City received a letter from Developer requesting that the item be suspended until further notice. Upon notice from the Developer of its interest to move forward with the Alternate Leasing Plan, the City will be provided 60 days to respond to the Developer's request.

COORDINATION
This item has been coordinated with the City Attorney's Office.

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the C...

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