The agreement with MAZZA is excerpted as follows:
25. MAZZA agrees to work with the City and adjacent property owners to develop and finance Hollywood Road extended on the west side of Route 1 to connect to newly relocated and constructed Autoville Drive on the Property. As evidence of its good faith, and not with the intent or effect of limiting the total amount of monies that it will eventually pay toward the construction of Hollywood Road extended, MAZZA agrees, prior to approval of the commercial detailed site plan (DSP-04049/0 1) for the Property but in no event later than August 1, 2010, to place the sum of$500,000.00 with an escrow agent acceptable to the City for a period of at least ten years.
The sum held in escrow shall be payable to the City for any aspect of the construction of Hollywood Road extended, including but not limited to any property acquisition, design, planning or construction costs, as directed by the City, which shall have direction and control of how payments are made. The ten year term for escrow of the funds set out herein may be extended by agreement of the parties in the event that substantial progress has been made toward the design and/or construction of Hollywood Road extended. Any interest earned on the escrow fund shall be paid to MAZZA by the escrow agent annually.
A commercial DSP has not been approved for the property and according to Diane Yep, representative for the owner; $500,000 has been placed in escrow for Hollywood Road extended. Ms. Yep approached staff to indicate that if the city was no longer interested in pursuing the design and construction of the road, her organization would like to be released from this requirement. Current access to the apartments is through a private road limited to right-in and right-out turns only from Route 1.
This access road was considered “temporary” until access to the project could be provided through a new Hollywood Road extended at a traffic signal. Assuming the city is still interested in this road, Ms. Yep would retain an engineering firm to begin work on a road alignment study and preliminary design. The road would be two lanes according to city/county standards and would connect only with Autoville Drive in front of their property (not with Autoville Drive north of the property or to other properties beyond the site). After the study results are presented, the city would have the opportunity to decide whether or not to pursue further design and engineering, land acquisition and construction.
Ms. Yep will be present at this Tuesday’s Council Worksession to discuss this matter. Staff recommends authorizing the alignment study and concept design and finalizing the scope of work.
Interesting. I seem to recall that there has historically been a lot of resistance to increasing access to Autoville Dr.?
What ever happened with this? Did the developer get the money back or are they moving forward with the study? My understanding was that they were unable to purchase the needed property for this.
Also, has Mazza made any progress on moving forward the commercial project that they committed to building on Route 1?
David, Dist 4 Council members wanted a few more weeks to consult with their constituents on this issue