Third District Report December 2019

REAL ESTATE

RDA Long Range Property Management Plan (Plan)

 Plan completed and submitted to Department of Finance and now approved by DOF.  Marketing Plan approved by Successor Agency and proceeding with all Marketing efforts.  Marketing Plan has been delayed due to new approval of ROPS.  Approval of ROPS 19/20 in progress.  The following is our LRPMP disposition update: o 21 projects sold/transferred. o 4 in negotiations. o 0 in escrow. o 11 projects in various marketing stages.  Ground Lease and Facilities Lease Agreements approved by Board of Supervisors.  Project in Construction stage. Shell/Core, TI, Connection Point, and Equipment Coordination planning meetings in progress.  Final Agreements approved by Board on November 14, 2017.  Restaurant RFP results in Award to Panera Bread. Selection with Lease negotiations being finalized; Lease to be sent to County Counsel for final approval. Lease approved by Board on June 4, 2019, tenant improvements underway.  Panera tenant improvements underway, Panera Grand Opening scheduled for November 19, 2019.  Completion of M.O.B. expected December 2019. Ahead of schedule and under budget.  Panera Opening Ceremony planned for Thursday, December 12, 2019 at 2pm.  Awarded to Omni-West with Lease negotiations and design in progress.  Lease finalization and full tenant improvement costing by March - April 2019.  Targeting Board Approval April – May 2019.  Meeting with Executive Office held on March 5 th to provide project overview and summary of Developer’s method of financing. Financing discussion on-going.  Form 11A approved by Board on April 16, 2019.  CIP Approved, April 22, 2019.  Ground Lease & Facilities Lease and Ordinance approved by BOS on April 30, 2019.  Project approved by the DAC on July 11, 2019.

Riverside University Medical Center - M.O.B.

French Valley Library Project – 25,000 s.f.

 Project approved by the Board of Supervisors on July 23, 2019.  Finance Closing completed, Project meetings and design in progress.  Ground breaking expected First Quarter of 2020.