HomeMy WebLinkAbout12/16/2013 - STAFF REPORTS - 3.C. OVERSIGHT BOARD
FOR THE SUCCESSOR AGENCY TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
BOARD REPORT
MEETING DATE: December 16, 2013 NEW BUSINESS
TITLE: APPROVING THE LONG-RANGE PROPERTY MANAGEMENT PLAN
INITIATED: Department of Community & Economic Development
RECOMMENDATION:
1. Adopt Resolution No. , "A RESOLUTION OF THE OVERSIGHT BOARD
OF THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY
REDEVELOPMENT AGENCY APPROVING THE LONG-RANGE PROPERTY
MANAGEMENT PLAN"
BACKGROUND AND ANALYSIS:
The Dissolution Act calls for the Successor Agency, under the direction of the Oversight
Board, to dispose of real property it received from the Dissolved RDA either for limited
public uses, or for disposition into the private market expeditiously and with a view
toward reasonably maximizing value, with the disposition proceeds ultimately made
available for distribution to the affected taxing entities.
The Successor Agency holds a total of 12 properties (consisting of 19 parcels in total)
from the Dissolved RDA. These include sites assembled for future redevelopment,
public parking lots and other real property. Disposition of these properties cannot occur
until the Department of Finance ("DOF") issues a finding of completion and approves a
long-range property management plan, which includes an inventory of these properties
and other pertinent information. Assembly Bill XI 26 added Health and Safety Code
Section 34191.1-34191.5 requiring that successor agencies send a long-range property
management plan to the oversight board and DOF no later than six months following
the issuance of the finding of completion. Although the Successor Agency has not yet
received its finding of completion from DOF, this is expected to occur before the end of
2013, after which a long-range property management plan may be submitted to the
DOF.
Enclosed for the Oversight Board's consideration is the proposed Long-Range Property
Management Plan ("LRPMP") for the Successor Agency. Prepared in collaboration with
a qualified dissolution and real estate consultant, the LRPMP contains detailed
information on each property, such as the date and purpose of acquisition, parcel
characteristics, estimate of the current value and any lease, rental or other revenues,
histories of environmental contamination, a description of each property's potential for
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Oversight Board Report
December 16, 2013
Page 2 —Approval of Long-Range Property Management Plan
transit-oriented development and the advancement of the City's planning objectives,
and previous development proposals. In most cases, estimates of value were derived
from recent comparable sales of like properties in the area since appraisals are not
required for the LRPMP. Most importantly, the LRPMP addresses the intended
disposition of each property. Permissible uses include retention for governmental use,
retention for future development, sale of the property, or use of property to fulfill an
enforceable obligation. The Dissolved RDA's properties that were retained by the City
for government use have been previously transferred to the City with the approval of the
DOF, so no such properties are included in the LRPMP.
The Dissolved RDA is one of dozens of former redevelopment agencies that owned
public parking lots to fulfill parking needs of commercial districts. While the prevailing
view is that such lots are clearly a governmental use, the DOF has been reluctant to
approve other LRPMPs with this disposition plan, having only approved one (Santa
Barbara) over the past several months. This has led to extensive delays in the
processing of the LRPMPs and suspension of any disposition efforts, and is likely a
matter that could be litigated on top of the 150+ lawsuits filed on the dissolution
proceedings.
Such procedural or litigation delays impair a successor agency from not only receiving
approval of their LRPMP, but selling property itself. Consequently, it can be advisable,
under certain circumstances, to take a different path for the LRPMP, particularly if there
is significant interest in purchasing properties. In this case, the Successor Agency has
such interest from buyers seeking to acquire some of the properties that have
development potential, and staff is recommending that it is prudent to hasten the
approval of the LRPMP by agreeing to sell public parking lots (likely to the City itself)
rather than argue these are governmental use properties. Though the facts clearly
support the latter conclusion, DOF has not consistently nor timely provided favorable
determinations and held up transfers of these and other properties in the process.
Thus, the LRPMP outlines that the Successor Agency would sell all 12 properties. The
table below provides a summary of the proposed disposition of each property and the
property inventory and long-range property management plan provides further details.
Assessor's Parcel
# Site Name Numbers Disposition
1 Casa del Camino Property 505-182-004 Sell property
2 Desert Hotel Property 513-091-003 Sell property
3 McKinney Parcel 513-290-013 Sell property
508-034-012,
4 Convention Center North Parking Lot 508-034-013, and Sell property
508-034-014
508-055-007,
5 Prairie Schooner Parcel 508-055-008, and Sell property
508-055-009
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December 16, 2013
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6 Cork n Bottle 513-081-017 Sell property
7 Plaza Theater 513-144-010 Sell property
8 Catholic Church Parking Lot 505-324-002 Sell property
Blue Coyote Parking Lot and 513-082-023 and Sell property
9 Drivewa 513-082-040
10 Food Court Parking Lot 513-082-043 Sell property
11 Henry Frank Arcade Parking Lot 513-091-004 Sell property
513-153-015,
12 Vineyard Parking Lot 513-153-016, and Sell property
513-153-029
There is no cost associated with approving the LRPMP. The costs incurred to prepare
these documents include consultant and staff time, which were itemized separately on
the Recognized Obligation Payment Schedule 13-14A, previously approved by the
Oversight Board and California Department of Finance ("DOF"). Upon approval by the
Oversight Board and DOF, the LRPMP would facilitate the transfer of properties to other
parties pursuant to state law, which may result in sales proceeds collected by the
Successor Agency (net of transaction costs) which would be transferred later to the
County Auditor-Controller for dissemination to each of the affected taxing agencies of
the former redevelopment project area.
(} i
RESOLUTION NO.
A RESOLUTION OF THE OVERSIGHT BOARD OF
THE SUCCESSOR AGENCY TO THE PALM
SPRINGS COMMUNITY REDEVELOPMENT
AGENCY APPROVING THE LONG-RANGE
PROPERTY MANAGEMENT PLAN.
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs
("Redevelopment Agency") was a redevelopment agency in the City of Palm Springs
("City"), duly created pursuant to the California Community Redevelopment Law
(Part 1 (commencing with Section 33000) of Division 24 of the California Health and
Safety Code) ('Redevelopment Law"); and
WHEREAS, the Community Redevelopment Agency was responsible for the
administration of redevelopment activities within the City; and
WHEREAS, AB X1 26 and AB X1 27 were signed by the Governor of California on
June 28, 2011, making certain changes to the Redevelopment Law, including adding
Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section
34170) ("Part 1.85") to Division 24 of the California Health and Safety Code which
effectively dissolves the Redevelopment Agency ("Dissolution Act"); and
WHEREAS, under the Dissolution Act, the term "successor agency" was defined to
refer to the dissolved redevelopment agency's sponsoring community (the city, county
or city and county that formed the Dissolved RDA), unless the sponsoring community
adopted a resolution electing not to serve in that capacity; and
WHEREAS, pursuant to Health & Safety Code Section 34191.5(b), successor
agencies are required to send long-range property management plans to the oversight
board and State Department of Finance no later than six months following the issuance
of the finding of completion; and
WHEREAS, the Successor Agency requested that the State Department of Finance
issue a finding of completion on December 16, 2013; and
WHEREAS, staff and consultants to the Successor Agency of the Palm Springs
Community Redevelopment Agency prepared a Long Range Property Management
Plan, in the form attached herewith as Attachment 1, in accordance with the provisions
of Section 34191.3 of the Dissolution Act, indicating the intended disposition and use of
the real property assets of the former Redevelopment Agency; and
WHEREAS, pursuant to Health & Safety Code Section 34191.5(b), the Long-Range
Property Management Plan shall be submitted for review and approval to the Oversight
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Resolution No.
Page 2
Board and Department of Finance no later than six months from the date the finding of
completion is issued by the State Department of Finance.
NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS AS FOLLOWS:
SECTION 1. The Oversight Board hereby finds and determines that the foregoing
recitals are true and correct, and incorporates them herein by reference.
SECTION 2. The Oversight Board approves the long-range property management
plan (as submitted hereto as Attachment 1) subject to the approval of the State
Department of Finance.
SECTION 3. Upon receipt of the finding of completion from the State Department of
Finance, staff is directed to submit the long-range property management plan to the
State Department of Finance as required by law.
SECTION 4. Staff is directed to prepare a marketing plan for the disposition of
certain properties outlined in the long-range property management plan.
SECTION 5. At such time as the Successor Agency receives proceeds from the
sale of any property as identified in the long-range property management plan, the
Successor Agency shall comply with applicable statutes regarding the distribution of
these proceeds to the County Auditor Controller for dissemination to the affected taxing
agencies.
SECTION 6. This Resolution shall take effect three days after its adoption.
THOMAS FLAVIN, Chairman
CRA Oversight Board
ATTEST:
JAMES THOMPSON, Clerk/Secretary
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Resolution No.
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF PALM SPRINGS )
I, James Thompson, Secretary of the Oversight Board of the Successor Agency
of the Palm Springs Community Redevelopment Agency hereby certify that Resolution
No. was adopted by the Oversight Board at a Special Meeting held on the 16th
day of December, 2013, and that the same was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES THOMPSON, Secretary
CRA OVERSIGHT BOARD
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Resolution No.
Page 4
ATTACHMENT
LONG-RANGE PROPERTY MANAGEMENT PLAN
SUCCESSOR AGENCY OF THE
CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
07
LONG - RANGE PROPERTY
MANAGEMENT PLAN
Successor Agency to the
Palm Springs Community
Redevelopment Agency
December 12 , 2013
Q RSG
BETTER COMMUNITIES. 08
BOLDER FUTURES.
RedevelopmentSuccessor Agency to the Palm Springs Community Agency
Long-Range Property
TABLE OF CONTENTS
INTRODUCTION................................................................................................................................................1
EXECUTIVE SUMMARY....................................................................................................................................1
STATEMENT OF LEGAL REQUIREMENTS....................................................................................................2
PROPERTY VALUATION ESTIMATES AND LIMITATIONS.........................................................................4
PROPERTY INVENTORY - FORMER AGENCY PROPERTIES.....................................................................5
Properties to by Sold by Successor Agency.........................................................................................6
CASA DEL CAMINO PROPERTY (PROPERTY 1)..............................................................................................7
DESERT HOTEL PROPERTY (PROPERTY 2).....................................................................................................9
MCKINNEY PARCEL (PROPERTY 3).....................................................................................................................11
CONVENTION CENTER NORTH PARKING LOT (PROPERTY 4)..............................................................13
PRAIRIE SCHOONER PARCEL (PROPERTY 5)................................................................................................15
CORK N BOTTLE (PROPERTY 6)..........................................................................................................................17
PLAZA THEATER (PROPERTY 7).........................................................................................................................19
CATHOLIC CHURCH PARKING LOT (PROPERTY 8)...................................................................................20
BLUE COYOTE PARKING LOT AND DRIVEWAY (PROPERTY 9)............................................................21
FOOD COURT PARKING LOT (PROPERTY 10)...............................................................................................22
HENRY FRANK ARCADE PARKING LOT (PROPERTY 11)...........................................................................23
VINEYARD PARKING LOT (PROPERTY 12).....................................................................................................24
ATTACHMENTS..............................................................................................................................................25
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INTRODUCTION
Assembly Bill ("AB") 1484, enacted in June 2012, requires all successor agencies to former
redevelopment agencies that owned property as of the time of redevelopment dissolution in 2011 to
prepare a Long Range Property Management Plan ("PMP"). The PMP governs the disposition and
use of property held by the former redevelopment agency pursuant to legal requirements, as
detailed in the "Statement of Legal Requirements" section on the next page.
This is the Long Range Property Management Plan for the Successor Agency to the Palm Springs
Community Redevelopment Agency ("Successor Agency").
EXECUTIVE SUMMARY
The former Palm Springs Community Redevelopment Agency ("Agency") is the owner of record on
the title for 12 properties (comprised of 19 parcels) in Palm Springs. All 12 properties are proposed
to be sold by the Successor Agency, with the proceeds of the sale to be distributed by the Riverside
County Auditor-Controller in accordance with the Dissolution Act.
The following chart outlines the Assessor's Parcel Number(APN) and proposed disposition for each
of the 12 properties.
# Site Name Assessor's Parcel Number(s) Disposition
1 Casa del Camino Property 505-182-004 Sell property
2 Desert Hotel Property 513-091-003 Sell property
3 McKinney Parcel 513-290-013 Sell property
508-034-012,
4 Convention Center North Parking Lot 508-034-013, and Sell property
508-034-014
508-055-007,
6 Prairie Schooner Parcel 508-055-008, and Sell property
508-055-009
6 Cork n Bottle 513-081-017 Sell property
7 Plaza Theater 513-144-010 Sell property
8 Catholic Church Parking Lot 505-324-002 Sell property
9 Blue Coyote Parking Lot and Driveway 513-082-023 and Sell property
513-082-040
10 Food Court Parking Lot 513-082-043 Sell property
11 Henry Frank Arcade Parking Lot 513-091-004 Sell property
513-153-015,
12 Vineyard Parking Lot 513-153-016, and Sell property
513-153-029
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RedevelopmentSuccessor Agency to the Palm Springs Community
Long-Range • .
perty Management Plan
STATEMENT OF LEGAL REQUIREMENTS
Pursuant to Health and Safety Code section 34191.5 (part of AB 1484), each successor agency
that holds property from a former redevelopment agency is required to submit a PIMP to the State
Department of Finance ("DOF") within six months after receiving a "Finding of Completion" from
DOF. Prior to the submittal of the PIMP to DOF, the successor agency's oversight board must
approve the PMP.
In general, the PIMP addresses the disposition and use of the real properties of the former
redevelopment agency. AB 1484 requires that the PMP include all of the following components.
1. Inventory of all properties in the Community Redevelopment Property Trust Fund ("Trust Fund"),
established to serve as the repository of the former redevelopment agency's real properties.
This inventory shall consist of all of the following information:
a. Date of acquisition of the property and the value of the property at that time, and an
estimate of the current value of the property.
b. Purpose for which the property was acquired.
c. Parcel data, including address, lot size, and current zoning in the former redevelopment
agency redevelopment plan or specific, community, or general plan.
d. Estimate of the current value of the parcel including, if available, any appraisal
information.
e. Estimate of any lease, rental, or any other revenues generated by the property, and a
description of the contractual requirements for the disposition of those funds.
f. History of environmental contamination, including designation as a brownfield site,
and related environmental studies, and history of any remediation efforts.
g. Description of the property's potential for transit-oriented development and the
advancement of the planning objectives of the successor agency.
h. Brief history of previous development proposals and activity, including the rental or
lease of property.
2. Address the use or disposition of all the properties in the Trust Fund. Permissible uses include:
a. Retention for governmental use pursuant to subdivision (a) of Section 34181.
b. Retention for future development;
c. Sale of the property; or
d. Use of property to fulfill an enforceable obligation.
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3. Separately identify and list properties in the Trust Fund dedicated to governmental use
purposes and properties retained for purposes of fulfilling an enforceable obligation. With
respect to the use or disposition of all other properties, all the following shall apply:
a. If the plan directs the use or liquidation of the property for a project identified in an
approved redevelopment plan, the property shall transfer to the city, county, or city and
county.
b. If the plan directs the liquidation of the property or the use of revenues generated from
the property, such as lease or parking revenues, for any purpose other than to fulfill an
enforceable obligation or other than that specified in subsection 3(a) above, the
proceeds from the sale shall be distributed as property tax to the taxing entities.
c. Property shall not be transferred to a successor agency, city, county, or city and county,
unless the PMP has been approved by the oversight board and DOF.
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RedevelopmentSuccessor Agency to the Palm Springs Community Agency
Long-Range Property Management Plan
PROPERTY VALUATION ESTIMATES AND LIMITATIONS
The Dissolution Act requires that a property management plan include an estimate of the value of
property, as well as recent appraisal information, to provide the oversight board, DOF, and other
interested parties information on the properties involved. DOF has officially stated that they do not
expect successor agencies to obtain appraisals on properties if none currently exist, so no such
appraisals have been prepared for this PMP.
Instead, an estimate of property value was prepared by the Successor Agency's independent
consultant based on a limited amount of analysis, well short of what would normally be conducted
for an appraisal — but at least useful for providing some information on what is often difficult to
assess property values given the unique deficiencies (size, contamination, location, etc.) of former
redevelopment properties. Coming out of a real estate recession, it still can be difficult to identify
comparable properties in the area because sales volumes of small, infill parcels can be very limited.
The limitations of this methodology aside, the value estimates themselves (or even appraised
values) are not necessarily representative of what the properties could be worth when put on the
open market for sale by the Successor Agency.
As necessary, following DOF approval of this PMP, the Successor Agency will seek buyers to
purchase the properties, based on the conditions outlined in this document. Once these offers are
provided, these may ultimately be a much more precise determination of value than what is
included in this PMP. As such, the reader is encouraged to understand this context when reviewing
the estimated values contained herein.
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Long-Range Property Management
PROPERTY INVENTORY — FORMER AGENCY PROPERTIES
The former Agency owned 12 properties (consisting of 19 parcels) at dissolution. The properties
are grouped into property sites with specific property numbers shown in the Property Inventory Data
table attached. A detailed description of the properties is provided below.
The Property Inventory Data table (Attachment 1) utilizes the DOF-created database that provides a
matrix of all of the information required pursuant to Health and Safety Code Section 34191.5(c)
(part of AB 1484).
It is important to note the following in reviewing the PMP:
• Estimates of current value of property were provided by RSG based on the individual
methodologies described under each property profiled in this PIMP. As the DOF has
officially stated, the DOF does not require a new appraisal report to be prepared for the
purposes of a PIMP, even if a recent appraisal does not exist. The ultimate value of the
properties sold will be determined based on what the market bears and not what an
appraisal estimates. More details for each value estimate are provided in the individual
property profiles.
• Data contained in the "Value at Time of Purchase" column in the Property Inventory Data
table includes all available information obtained resulting from comprehensive title research
and staffs best efforts to locate the information. In many cases, this information was not
available and is noted accordingly.
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Properties to by Sold by Successor Agency
All 12 Agency-owned properties are proposed to be for sale. A description of the properties,
including the legally required information, aerial maps, and photographs of each property, are
presented in this section.
Pursuant to the requirements of 34191.5(c) of the Health and Safety Code, the following
characteristics apply to each of the 12 Agency-owned properties:
• Proposed Sale Value: Market to determine.
• Proposed Sale Date: Following DOF approval of PIMP.
• History of Environmental Contamination, Studies, and/or Remediation, and
Designation as a Brownfield Site: No record of past environmental contamination,
studies, and/or remediation, and designation as a brownfeld site. This does not necessarily
preclude potential environmental contamination, studies, and/or remediation, and
designation as a brownfield site of which the Successor Agency is not aware.
The remainder of the information required by Health and Safety Code Section 34191.5(c) is
provided below and in Attachment 1.
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Successor Agency to the Palm Springs Community Redevelopment Agency
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CASA DEL CAMINO PROPERTY (PROPERTY 1)
Address: 1479 N. Palm Canyon Dr.
APN: 505-182-004
Lot Size: 29,185 sq. ft.'
Attachment 1 Parcel: 1
Acquisition Date: April 1, 1987
Value at Time of Purchase: $575,000
Property Type (DOF Category) Vacant LoULand
Permissable Use (City Proposed) Sale of Property
Current Zoning: C1 —Retail Business Zone
Estimated Current Value: $195,561
Based on RSG's comparable sales analysis. The
results of the analysis are shown below.
Comparable Sales Analysis and Estimated Value:1479 N.Palm Canyon Dr.
Commercial Land,20,000-40,000 SF
Address City Property Type Sale Date SgFt Price Price/SgFt
1 84765 Ave nue 50 Coachella Commercial Land 5/14/2012 25,700 $ 297,000 $ 11.56
2 82933Avenue 48 Indio Commercial Land 7/16/2010 36,154 $ 318,0D0 $ 8.80
3 81088 Us Highway 111 Indio Commercial Land 12/3/2010 35,727 $ 275,000 $ 7.70
4 44061 Acacia Dr Palm Desert Commercial Land 7/12/2013 20,447 $ 118,000 $ 5.77
5 19160 McLane St North Palm Springs Commercial Land 8/27/2013 2Q717 $ 92,500 $ 4.46
6 81765 Oleander Ave Indio Commercial Land 4/27/2012 32,234 $ 82,500 $ 2.56
Subject:1479 N. Palm Canyon Dr. Vacant Commercial Land Not Listed 29,185 $ 196,561 $ 6.74
Source:Costar, December2013
Note:Estimated value is based onthe unweighted and unadjusted median price per square foot for comparable properties.
Advancement of Planning Objectives: Sell for future development.
The former Agency acquired this vacant parcel for the purpose of future development. The Agency
intended to assemble this parcel in conjunction with those adjacent to it in order to develop a mixed-
use project. However, this project never came to fruition.
' For all parcels described in this document, the source for data regarding lot sizes, acquisition dates, and
available values at the time of purchase is First American CoreLogic, Inc., except where otherwise noted.Page 7 16
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RedevelopmentSuccessor Agency to the Palm Springs Community
Long-Range Property Management Plan
DESERT HOTEL PROPERTY (PROPERTY 2)
Address: 285 N. Indian Canyon Dr.
APN: 513-091-003
Lot Size: 6,106 sq. ft.
Attachment 7 Parcel: 2
Acquisition Date: January 21, 2005, according to City records
Value at Time of Purchase: $160,000, according to City records
Property Type (DOF Category) Vacant Lot/Land
Permissable Use (City Proposed) Sale of property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $31,965
Based on RSG's comparable sales analysis. The
results of the analysis are shown below.
Comparable Sales Analysis and Estimated Value:285 N.Indian Canyon Dr.
Commercial Land,5,000- 10,000SF
Address City Property Type Sale Date SgFt Price Price/SgFt
1 N Palm Canyon or Palm Springs Commercial Land 4/5/2011 6,403 $ 98,000 $ 15.31
2 29 Palms Hwy @ Sunset Ave Joshua Tree Commercial Land 6/11/2012 9,583 $ 60,000 $ 6.26
3 12329 Palm or Desert Hot Springs Commercial Land 9/16/2011 7,126 $ 30,000 $ 4.21
4 45698 Fargo St Indio Commercial Land 9/11/2013 6,490 $ 15,000 $ 2.31
Subject:285 N.Indian Canyon Dr. Vacant Commercial Land Not Listed 6,106 $ 31,965 $ 5.24
Source:Costar, December 2013
Note: Estimated value is based on the unweighted and unadjusted median price per square foot for comparable properties.
Advancement of Planning Objectives: Sell for future development.
The former Agency acquired this parcel in order to tear down the blighted property on the land,
which was successfully completed. Previously, the Agency intended to assemble this parcel along
with adjacent parcels in order to develop a hotel, but this development did not occur. Because the
parcel is adjacent to a City fire station, the City may be interested in purchasing the property to
expand the fire station.
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MCKINNEY PARCEL (PROPERTY 3)
Address: 190 W Sunny Dunes Rd.
APN: 513-290-013
Lot Size: 6,970 sq. ft.
Attachment 1 Parcel: 3
Acquisition Date: January 1, 2008
Value at Time of Purchase: Unknown, according to City and public record research
Property Type (DOF Category) Vacant Lot/Land
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $36,488
Based on RSG's comparable sales analysis. The
results of the analysis are shown below. The results
are identical to those for Property 2, due to the
similarity between Property 2 and 3.
Comparable Sales Analysis and Estimated Value:190 W.Sunny Dunes Rd.
Commercial Land,5,000- 10,000SF
Address city Property Type Sale Date SgPt Price Price/SgFt
1 N Palm Canyon Dr Palm Springs Commercial Land 4/5/2011 6,403 $ 98,000 $ 15.31
2 29 Palms Hwy @ Sunset Ave Joshua Tree Commercial Land 6/11/2012 9,583 $ 60,000 $ 6.26
312329 Palm Dr Desert Hot Springs Commercial Land 9/16/2011 7,126 $ 30,000 $ 4.21
4 45699 Fargo St Indio Commercial Land 9/11/2013 6,490 $ 15,000 $ 2.31
Subject: 190 W.Sunny Dunes Rd. Vacant Commercial Land Not Listed 6,970 $ 36,488 $ 5.24
Source:Costar, December2013
Note: Estimated value is based on the unweighted and unadjusted median price persquare foot for comparable properties.
Advancement of Planning Objectives: Sell for future development.
This vacant parcel was acquired for the purpose of future development.
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Successor Agency to the Palm Springs Community Redevelopment Agency
Long-RangeProperty Management Plan
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CONVENTION CENTER NORTH PARKING LOT (PROPERTY 4)
Address: Northeast of N. Calle Alvarado and E. Amado Rd.
APN: 508-034-012, 508-034-013, and 508-034-014
Lot Size: 339,769 sq. ft.
Attachment 1 Parcels: 4 - 6
Acquisition Date: May 1, 1991
Value at Time of Purchase: Unknown, according to City and public record research
Property Type (DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $2,211,896
Based on RSG's comparable sales analysis. The
results of the analysis are shown below.
Comparable Sales Analysis and Estimated Value:Northeast of N.Calle Alvarado and E.Amado Rd.
Commercial Land, 250,000-450,000SF
Address City Property Type Sale Date SgFt Price Price/SgFt
1 Hwy 111&Dune Palms Rd La Quinta Commercial Land 5/17/2010 396,396 $7,737,239 $ 19.52
2 40060 Bob Hope Dr Rancho Mirage Commercial Land 10/29/2010 447,361 $7,650,000 $ 17.10
3 Seeley Dr&Washington St La Quinta Commercial Land 7/1/2011 411,641 $3,800,000 $ 9.23
4 Avenue 48 Indio Commercial Land 9/16/2010 350,222 $2,600,000 $ 7.42
5 Washington St Palm Desert Commercial Land 6/15/2010 267,894 $1,500,000 $ 5.60
6 75500 Varner Rd Palm Desert Commercial Land 9/21/2011 333,234 $1,300,000 $ 3.90
7 Avenue 42 @ Spectrun St Indio Commercial Land 10/25/2010 283,140 $ 999,484 $ 3.53
8 Portola Ave Palm Desert Commercial Land 3/7/2013 385,506 $1,100,000 $ 2.85
Subject:NE of N.Calle Alvarado and E.Amado Rd. Parking Lot Not Listed 339,769 $2,211,896 $ 6.51
Source:Co Star, December 2013
Note:Estimated value is based on the unweighted and unadjusted median price per square foot for comparable properties.
Advancement of Planning Objectives: Sell for future development.
This parking lot was acquired for the purpose of future development. The Successor Agency
proposes to sell this lot to an interested hotel developer, who will then replace the public parking off-
site.
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PRAIRIE SCHOONER PARCEL (PROPERTY 5)
Address: Southeast of E Andreas Rd. & N. Calle El Segundo
APN: 508-055-007, 508-055-008, and 508-055-009
Lot Size: 250,470 sq. ft.
Attachment 1 Parcels: 7- 9
Acquisition Date: August 10, 1994, according to City records
Value at Time of Purchase: $2,275,000, according to City records
Property Type(DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $1,402,632
Based on RSG's comparable sales analysis. The
results of the analysis are shown below.
Comparable Sales Analysis and Estimated Value:Southeast of E.Andreas Rd.&N.Cal le El Segundo
Commercial Land,150,000-350,0005F
Address city Property Type Sale Date SgFt Price Price/SgFt
1 82451 Highway 111 Indio Commercial Land 10/2/2012 157,687 $2,500,000 $ 15.85
2 81550JFK Ct Indio Commercial Land 10/28/2013 166,399 $2,050,000 $ 12.32
3 478M Washington St La Quinta Commercial Land 5/27/2011 169,012 $1,300,000 $ 7.69
4 Washington St Palm Desert Commercial Land 6/15/2010 267,894 $1,500,000 $ 5.60
5 81695 US Hwy 111 Indio Commercial Land 2/23/2010 170,755 $ 755,892 $ 4.43
6 75500Varner Rd Palm Desert Commercial Land 9/21/2011 333,234 $1,300,000 $ 3.90
7 Avenue 42 @Spectrun St Indio Commercial Land 10/25/2010 283,140 $ 999,484 $ 3.53
Subject:SE of E.Andreas Rd.&N.Calle El Segundo Parking Lot Not Listed 250,470 $1,402,632 $ 5.60
Source:Co Star, December 2013
Note: Estimated value is based on the unweighted and unadjusted median price per square foot for comparable properties.
Advancement of Planning Objectives: Sell for future development.
This property was acquired for the purpose of selling to a developer, with whom the Agency had
been working to construct a 500-room Hard Rock Hotel. However, the project was abandoned and
the Hard Rock Hotel eventually opened elsewhere in the City. A hotel developer has recently
sought to purchase this property from the Successor Agency.
Page
15 24
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range Property Management Plan
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Photo source: Google Maps
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range • ..
CORK N BOTTLE (PROPERTY 6)
Address: 342 N. Palm Canyon Dr.
APN: 513-081-017
Lot Size: 2,080 sq. ft.
Attachment 1 Parcel: 10
Acquisition Date: November 17, 2006
Value at Time of Purchase: $620,000, according to City records
Property Type (DOF Category) Commercial
Permissable Use (City Proposed) Sale of Property
Current Zoning: CBD - Central Business District Zone
Estimated Current Value: $339,620
Based on RSG's analysis, which utilizes an income-
based approach. The details of the analysis are shown
below.
Estimated Value Utilizing Income Based Approach:342 N.Palm Canyon Dr.
Monthly Gross Income: $ 2,750
Annual Gross Income: $ 33,000
Less:
Annual Property Tax': $ 2,728
Operating Expenses as Share of Gross Incomez: 201Y.
Annual Operating Expenses: $ 6,600
Annual Property Taxes and Operating Expenses: $ 9,328
Annual Net Operating Income: $ 23,672
Cap Rate': 6.97%
Estimated Value $ 339,00
'Source:Riverside County Office of the Treasurer-Tax Col lector
2 Based on median operating expense amount per square foot for comparable properties($3.12)and average rent amount
for properties in the Inland Empire retail market during the thi rd quarter of 2013($15.73)(Source:Costar COMPS,Costar Property)
3 Average cap rate for buildings under 25,000 sq.ft.in the Inland Empire reta 11 market from July 2012-June 2013(Source:Costar COMPS)
Advancement of Planning Objectives: None.
Page 29
17
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range Property Management Plan
The former Agency acquired this parcel with the intention of assembling several properties in the
area to develop a boutique hotel to support the nearby Convention Center. However, the adjacent
properties were never acquired by the Agency.
The building on the parcel is a Class 1 historic structure. Therefore, reuse and any interior changes
must be approved by the City's Historic Site Preservation Board.
A commercial building is currently on the parcel. The current tenant is a retail store called "Cork In
Bottle." The tenant began occupancy of the building in 2004. When the Agency purchased the
building in 2006, the Agency assumed Cork In Bottle's lease with the previous owner. The original
lease began in 2004 and ended in 2009. However, the lease provides the tenant the right to extend
the lease for a period of five additional years up to three times, upon the end of the original lease in
2009. In 2009, the tenant opted to extend the lease until November 2014, at which point the tenant
still has two more options to extend the lease for five additional years. Thus, the tenant has the right
to occupy the building until the year 2024.
The City receives $2,750 in monthly lease revenue from Cork n Bottle. Pursuant to the original
lease that the tenant agreed upon with the prior owner, receipt of lease revenue obligates the owner
to pay possessory interest property taxes for the property. Thus, the City currently pays the
property's possessory interest property taxes, which amounts to $2,728 per year. Additionally, the
City pays management fees for the building, as well as some maintenance fees. The City also
includes the building in its insurance policy for City-owned buildings.
Photo source: Google Maps
Page 27
is
Successor Agency to - Palm Springs Community RedevelopmentAgency
Long-Range Property Plan
PLAZA THEATER (PROPERTY 7)
Address: 128 S. Palm Canyon Dr.
APN: 513-144-010
Lot Size: 10,454 sq. ft.
Attachment 1 Parcel: 11
Acquisition Date: September 28, 1998, according to City records
Value at Time of Purchase: $1,925,498, according to City records
Property Type(DOF Category) Public Building
Permissable Use (City Proposed) Sale of Property, with conditions to maintain performing
arts venue and Class 1 historic structure
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
building for which no revenue is received.
Advancement of Planning Objectives: Maintain performing arts venue and Class 1 historic
structure.
The former Agency acquired this parcel to maintain the 800-seat performing arts venue and the
building's Class 1 historic structure. The Agency proposes to sell the property to a private owner
with conditions in order to ensure that the performing arts venue and Class 1 historic structure are
maintained. Currently, the building is not compliant with the American with Disabilities Act (ADA)
code. Additionally, the building, which is landlocked, does not comply with fire safety codes. An
architect is currently in the process of estimating the cost of implementing the necessary upgrades.
The alley behind the property is leased for set storage.
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Photo sources: Google Maps, Wikipedia
Page
19 28
Successor Agency to the Palm Springs Community Redevelopment
Long-Range Pro. Plan
CATHOLIC CHURCH PARKING LOT (PROPERTY 8)
Address: Northeast of Belardo Rd. & W Alejo Rd.
APN: 505-324-002
Lot Size: 39,440 sq. fr.
Attachment 1 Parcel: 12
Acquisition Date: October 1, 1983
Value at Time of Purchase: $610,000
Property Type(DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
parking lot for which no income is received.
Advancement of Planning Objectives: Provide public parking.
The Agency purchased this property in 1983 from Our Lady of Solitude Church in order to provide
public parking. The Purchase and Sale Agreement with the church obligates the City to provide the
church 45 parking spaces. The City provides these spaces, along with public parking spaces, on
this lot. The Agency proposes to sell the property to an owner who will continue to use the parcel to
provide public parking. r�
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Photo source: Google Maps
Page 29
20
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range Property -
BLUE COYOTE PARKING LOT AND DRIVEWAY (PROPERTY 9)
Address: Southeast of N. Belardo Rd& W Alejo Rd
APN: 513-082-023 and 513-082-040
Lot Size: 26,423 sq. ft.
Attachment 1 Parcels: 13- 14
Acquisition Date: Parcel 513-082-023 was acquired on August 1, 1981:
the acquisition date for parcel 513-082-040 is
unknown, according to City and public record research
Value at Time of Purchase: $400.000 for parcel 513-082-023:
Value at the time of purchase for parcel 513-082-040 is
unknown, according to City and public record research
Property Type (DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
parking lot for which no income is received.
Advancement of Planning Objectives: Provide public parking.
The Agency purchased this property to provide public parking and proposes to sell the property to
an owner who will continue to use the parcel to provide public parking.
44 V
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Photo source: Google Maps
Page 3 0
21
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range Property Management Plan
FOOD COURT PARKING LOT (PROPERTY 10)
Address: Southeast of N. Belardo Rd& W Alejo Rd
APN: 513-082-043
Lot Size: 26,136 sq. R.
Attachment 1 Parcel: 15
Acquisition Date: June 12, 1997, according to City records
Value at Time of Purchase: $212,438, according to City records
Property Type (DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
parking lot for which no income is received.
Advancement of Planning Objectives: Provide public parking.
The Agency purchased this property to provide public parking and proposes to sell the property to
an owner who will continue to use the parcel to provide public parking.
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Photo source: Google Maps
Page
22 31
i
Successor Agency to the Palm Springs Community RedevelopmentAgency
Long-Range Property Management Plan
HENRY FRANK ARCADE PARKING LOT (PROPERTY 11)
Address: Southwest of E. Amado Rd. and N. Indian Canyon Dr.
APN: 513-091-004
Lot size: 7,260 sq. ft.
Attachment 1 Parcel: 16
Acquisition Date: October 1, 1989
Value at Time of Purchase: $267,000
Property Type(DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
parking lot for which no income is received.
Advancement of Planning Objectives: Provide public parking.
The Agency purchased this property to provide public parking and proposes to sell the property to
an owner who will continue to use the parcel to provide public parking.
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Photo source: Google Maps
Page j
23
iF
Successor Agency to - Palm Springs Community RedevelopmentAgency- - Property
i
VINEYARD PARKING LOT (PROPERTY 12)
Address: Northeast of S. Belardo Rd& W Baristo Rd.
APN: 513-153-015, 513-153-016, and 513-153-029
Lot Size: 53,818 sq. ft., according to City records.
Attachment 1 Parcels: 17- 19
Acquisition Date: June 1, 1977; July 1, 1977, and May 17, 1979;
according to City and public records
Value at Time of Purchase: According to City and public record research, value at
the time of purchase for parcels 513-153-015 and 513-
153-016 is unknown; according to City records, value
at the time of purchase for parcel 513-153-029 was
$198,215
Property Type (DOF Category) Parking Lot/Structure
Permissable Use (City Proposed) Sale of Property
Current Zoning: CU- Civics Uses District Zone
Estimated Current Value: $0
Based on market value estimate as an existing public
parking lot for which no income is received.
Advancement of Planning Objectives: Provide public parking.
The Agency purchased this property to provide public parking and proposes to sell the property to
an owner who will continue to use the parcel to provide public parking.
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Photo source: Google Maps
Pace
24
Successor Agency to the Palm Springs Community Redevelopment Agency
Long-Range Property Management Plan
Property . D. (DOF Form)
Successor Agency: PALM SPRINGS ATTACHMENT 1
County: RIVERSIDE
LONG HSC 34191.5 c 1 A SALE OF PROPERTY HSC 34191.6 c 1
Date of
Acquisition Value at Time Estimated Estimated Proposed Sale Proposed Sale Purpose for which property was
No. Pp.rtyTyp. Permissable Use Permissable Use Detail Date of Purchase Current Value Value Basis Cunenl Value Value Date acquired
"Casa del Camino
Properly:Sell for future Market to Following DOT
1 Vacant Lot/1-am! Sale of Property development 4/1/1987 $ 575,000 $196,561 Market 12R/2103 Determine auoroval of PMP Future development
"Desed Hotel Property":
Sell for Wlure Market to Following DOF
2 Vacen1 LOVLand Sale of Property development 1212005 $ 160,000 $31.965 Markel 12/2/2103 Determine approval of PMP To leer down blighted property
'McKinney Parcer:Sell Market to Following DOF
3 Vacant Wfl-and Sale of Property for future development 1A12008 Unknown $36,488 Market 1222103 Determine approval of PMP Future development
"Convenlicn Center North
Parking Lot":Sell to hotel
developer.Developer will $2,211.896
replace public parking along with Site 5 Market to Following DOF
4 Parkin LOUSbudufe Sale of Property off-site. 5/1/199i Unknown and 6 Market IVM103 Determine approval of PMP Future development
"Convention Center North
Parking Lot":Sell to hotel
developer.Developer will $2,211.896
replace public parking along with Site 4 Market to Following DOF
5 lPariking Lot/Sbucture Sale of Property off-site. 5/1/1991 Unknown and 6 Market 1202103 Determine approval of PMP Future development
'Convention Center North
Parking Lot":Sell to hotel
developer.Developer will $2.211.896
replace public parking along with Site 4 Marketto Following DOT
6 Parkin Lot/Structure Sale of Property off-site. 5/1/1991 Unknown and 5 Market 12/221g3 Determine approval of PMP FUWre development
"Prase Schooner Parcel": $2,275,000 $1.402.632
Sell for future along with Site along with Site 8 Market to Following DOF To sell to hotel developer.The
7 Parking LoYSbucture Sale of Property develo ment 8l10/1994 8 and 9 and 9 Market 12/2/2103 Determine approval of PMP property Is subject to the terms of the
Repayment Agreement with the
Ague Caliente Band of Cahuilla
'Prone Schooner Parcel': $2,275,000 $1.402.632 Indians for the constmdion of a
Sell for future along with Site along with Site 7 Market to Folkwdng DOF parking lot and a Disposition and
e LParking Lot/Structure Sale of Property development 8l10/1990 7 and 9 and 9 Market 12/2/2103 Determine approval of PMP Development Agreement with O b M
Page 1 of 6
W
Successor Agency: PALM SPRINGS ATTACHMENT 1
County: RIVERSIDE
LONG RAN HSC 34191.5 t i D HSC 34191.5 c 1 E HSC 34191.5 e 1 F MSC 34191.E c 1 G HSC 34191.5 c i H
History of
environmental Description of Advancement of
contamination,studies, property's planning
Contractual andlor remedlation,and potential for objectives of the History of previous
Lot Size Current Estimate of Current Estimate of requirements for use of designation as transit oriented successor development
No. Address APN# SF Zonin Parcel Value Income/Revenue ineomefrevenue bro..F..Id site development agency ro osals and activity
Located 51 feet
C1-Retail from a Sunline Assemble adjacent
1479 N.Palm Business Transit Agency Sell for future parcels to develop
1 Canyon Dr. 505-182-004 29,185 Zone $19Q561 $0 WA None bus stop development mixed-use project
Located 351 feel Assemble adjacent
CU-Civics from a Sunline parcels to develop hotel,
285 N.Indian Uses District Transit Agency Sell for future expand adjacent fire
2 Canyon Dr. 513-0914103 6,106 Zone $31,965 $0 NIA None bus stop development station
Located about
CU-Civics 200 feet from a
190 W.Sunny Uses District Sunline Transit Sell for future
3 Dunes Rd. 513-290-013 6,970 Zone $36,488 $0 N/A None Agency bus stop development None
Located 0.3 miles
Northeast of N. CU-Civics from a Sunline
Calle Alvarado and Uses District $2,211,896 along with Transit Agency Sell for future
Arms.E.Aatlo Rd. 508-034-012 116.741 Zone Site 5 and 8 $0 NIA None bus stop development Sell to hotel developer
Located 0.3 miles
Northeast of N. CU-Civics from a Sunline
Alva
rado arado and Uses District $2,211,896alongvdth Transit Agency Sell for future
5 E.Amado Rd. 50&034-W3 111,514 Zone She 4 and 6 $0 N/A Norte bus sto development Sell to hotel developer
Located 0.3 miles
Northeast of N. CU-Civics from a Sunline
Celle Alvarado and Uses District $2,211,896 along veh Transit Agency Sell for future
6 E.Amado Rd. 50&034.014 111,514 Zone Site 4 and 5 $0 N/A None bus stop development Sell to hotel developer
Located 0.1 miles CRA had been working
Southeast of E. CU-Civics from a Sunline Wtlh developer to
Andreae Rd.S N. Uses District $2,378,893 along with Transit Agency Sell for future construct a 500 room
7 an FJ Se undo 50&05S007 62,726 Zone Site 8 and 9 $0 WA I None bus stop development Hard Rock Hotel on this
sile,but the project was
Located 0.1 miles abandoned antl
Southeast of E. CU-Civics from a Sunline evenulally the Hartl
Andrew Rd.S N. Uses District $2,378,893 along With Trans#Agency Sell1o0 future Rock Hotel opened
8 Calla El Segundo 506-05&008 192,081 Zone Site 7 and 9 $0 N/A None bus stopdevelo ment elsewhere in the City. A
Page 2 of 6
w
Successor Agency: PALM SPRINGS ATTACHMENT 1
County RIVERSIDE
LONG HSC 34191.$ c 1 A SALE OF PROPERTY NBC 34191.$ c t B
Data of
Acguisitlon Value at Time Estimated Estimated Proposed Sale Proposed Sale Purpose for which properly was
No. -Property Type Permissable Use Permissable Use Detall Date of Purchase Current Valua Value Basis Current Value Value Data acquired
HR,LLC for the development of a
500.room hotel.
"Prmne Schooner Parcel": $2,275,000 $1.402.632
SeII for future along with Site along with Site 7 Markel to Following DOF
9 Parkin Lot/Structure Sale of Property development 8/10/1994 7 and 6 and B Market 1202103 Determine approval of PMP
"Cork n Smile':Seek to
sell to owner of adjacent Market to Following DOF To assemble properties in the area
10 lCommercial Sale of Property property 11/17/2008 $ 620,000 $339.620 Markel 121212103 Determine approval of PMP for development of boutique hotel
"Plaza Theater:Sell,but
with conditions to
maintain performing arts
venue and Class 1 Market to Fodowng DOF To maintain performing arts venue
11 Public Building Sale Property historic structure. 9/28/1998 1$ 1,925,498 $0 Market 1202103 Determine approval of PMP and Class 1 historic structure
"Catholic Church Parking
Lor:Retain for public
parking.The Purchase
and Sale Agreement
behveen the Agency and
Our Lady of Solitude
Church,from whom the
Agency purchasetl the
property in 1983,
obligates the City to
provide the church 45 Maket to Following DOF
12 Parking LottStructure Sale of Property Hon spaces. 10/1/1983 $ 610,000 $0 Markel 121212103 Determine approval of PMP To provide public oarkina
'Blue Coyote Parking Lot
and Driveway':Retain for Markel to Following DOF
13 Parkin Lot/Structure Sale of Property public parkin B/1/1981 $ 400,000 $0 Market 12/2/2103 Determine approval of PMP To provide public parking
"Blue Coyote Parking Lot
and Driveway':Retain for Markel to Following DOF
14 Parking Lot/Stmcture Sale of Property ubec parking Unknown Unknown $0 Market 1 2/2121 0 3 Determine lapproval of PMPI To provide public parking
"Food Court Parking Lor: Market to Following DOF
15 Parkin Lol/Sbucture Sale of PropertyRetain for public parking6/12/1997 $ 212.438 $0 Market 1202103 Determine a oval of PMP To provide public parking
Page 3 of 6
CrJ
Successor Agency: PALM SPRINGS ATTACHMENT 1
County: RIVERSIDE
LONG RAN HSC 34191.E c 1 D HSC 34191.E c t E HSC 34191.5 t 1 HSC 36191.E c 1 G HSC 34191.E c 1 H
History of
environmental Description of Advancement of
contamination,studies, property's planning
Canlactual and/or remedialion,and potential for objectives of the History of previous
Lot Size Current Estimate of Current Estimate of requirements for use of designation as a transit oriented successor development
No. Address APN k SF Zoning Parcel Value Income/Revenue income/revenue brownfield are development agency ro sals and activity
hotel developer has
Located 0.l miles recently sought to
Southeast of E. CU-Civics from a Sunline purchase this property
Andreas Rd.&N. Uses Distncl $2,37B,893 along v i i Transit Agency Sell for future from the Successor
9 Calls El Segundo 508-055-009 5,663 Zone Site 7 and B 30 N/A None bus stop development Agency.
Receipt of lease revenue
CBD- obligates owner to pay Located 224 feet
Central possessory interest from a Sunline Assemble adjacent
342 N.Palm Canyon Business property taxes for the Trench p Inary Agency parcels hotel by
10 Dr. 513081-017 2,080 District Zone E339,620 $2,750 per month property. None bus stopNone bou8 ue hotel
Located 461 feet Maintain
CU-Civics from a Sunline performing arts
128 S.Palm Canyon Uses District Transit Agency venue and Class 1
11 Dr. 513144-010 10,454 Zone $0 $0 NIA None bus stop historic structure None
Located 0.1 miles
CU-Civics from a Sunline
Northeast of Belartla Uses District Transit Agency Provide public
12 Rd.& W.Alelo Rd. 5053244102 39,"0 Zone $0 $0 WA None bus stop parking None
Located 0.2 miles
Southeast of N. CU-Civics from a Sunline
Belardo Rd&W. Uses District Transit Agency Provide public
13 Alejo Rd 513082-023 19,889 Zone $0 $0 N/A None bus slo parking None
Located 0.2 miles
Southeast of N. CU-Civics from a Sunline
Belardo Rd&W. Uses District Transit Agency Provide public
14 Aleo Rd 513-082-040 6,534 Zone $0 $0 N/A None bus sto
parkingNone
Located 0.2 miles
Southeast of N. CU-Civics from a Sunline
Media Rd&W. Uses District Transit Agency Prov de public
15 'o Rd 513-082-043 26,136 Zone $0 $0 NIA None bus al arkin None
Page 4 of 6
Successor Agency: PALM SPRINGS ATTACHMENT 1
County: RIVERSIDE
LONG as Wilk, HSC 34191.$ c 1 A SALE OF PROPERTY HSC 34191.$ c 1 B
Date of
Acquisition Value at Time Estimated Estimated Proposed Sale Proposed Sale Purpose for which property was
No. Property Type Permissable Use Permissabte Use Detail Date of Purchase Current Value Value Basis Currant Value Value Data acquired
'Henry Frank Arcade
Parking Lol':Retain for Market to Following DOF
16 Parkin LoVSWdure Sale of Property public parking 10/1/1989 $ 267,DOO $0 Market 1 2/2121 0 3 Determine approval of PMP To promde public parking
"Vineyard Parking Lot": Market to Following DOF
17 Parking LatiSlructure Sale of Property Retain for public parkin 6/1/19T Unknown $0 Markel 1 12I2/2103 Determine approval of PMP To provide public parking
'Vineyard Parking Lot': Market to Following DOF
18 Parkin Lo1/Sbucture Sale of Property Retain for public parking 7/1/1977 Unknown $0 Market 12/2/2103 Determine approval of PMP To provide public parking
"Vineyard Parking Lot": Marketto Follovdng DOF
19 Parkin Lot/Structure Sale of Property Retain for public parking 5/17/1979 $ 198,215 $0 Market 12/N2103 Determine appropal of PMP To provirle public parking
Page 5 of 6
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Successor Agency: PALM SPRINGS ATI-ACHMENTI
County: RIVERSIDE
LONG RAN - HSC$419f.5 c 1 0 HSG 34191.& c 1 E HSC 54191.5 c 1 F HSC$4191,5 c 1 G HSG 3419'.5 c 1 H
History of
environmental Description of Advancement of
contamination,studies, property's planning
Contractual anNor remediation,and potential for objectives of the History of previous
Lot Size Current Estimate of Current Estimate of requirements for use of designation as a transit oriented successor development
No. Address APN# SF Zonin Parcel Value Income/ftewnue incomelrevenus brownfleld she dewl ment agency ro osais and acd.
Located less than
Southwest of E. CU-Civics 5W feet from a
Amado Rd.and N. Uses District Sunline Transit Provide public
16 lindian Canyon Dr. 5MO91-004 7,260 Zone $6 $0 WA None lAg.ncy bus stop parking None
Locatetl less than
Nadheast of S. CU-Civics 500 feet from a
Belardo Rd&W Uses District Sunline Transit Provide public
17 Bansto Rd. 513155-015 6,000 Zone $0 $0 N/A None Agency bus slop panting None
Located less than
Northeast of S. CU-Civics 500 feet from a
Belardo Rd&W Uses District
18 Bansto Rd. 51&15 16 6.000 Zone $0 $0 N/A None Agerrine bu Transit provide public
st
op op arking None
Located less than
Northeast of S. CU-Civics 500 feet from a
Belardo Rd&W Uses District Sunline Transit Provide public
19 Benito Rd. 51315M29 41,818 Zone $0 $0 NIA None ency bus stop parking None
PEET
Page 6 of 6
1`i