HomeMy WebLinkAboutCC Resolution 14898 (Amendment of Agreement to Negotiate Exclusively with Goldstone Management, Inc.)1
RESOLUTION NO. 14898
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL APPROVING AND
AUTHORIZING THE CITY MANAGER TO SIGN AN AMENDMENT NO. 2 TO EXTEND THE
AGREEMENT TO NEGOTIATE EXCLUSIVELY WITH GOLDSTONE MANAGEMENT, INC.
REGARDING REDEVELOPMENT OF 1009 AND 1001 FOURTH STREET, 924-926 THIRD
STREET, AND THE THIRD STREET AND LOOTENS PLAZA PARKING GARAGE
WHEREAS, the City of San Rafael owns the real property and parking garage located at
Third Street and Lootens Plaza ("City Parcel"); and
WHEREAS, the City adopted a goal to “provide a vibrant Downtown” in “our Vision of
Downtown” in 1993, which was later incorporated into the goals of the General Plan as Goal 6.
General Plan Goal 6 includes the following implementation policies:
• NH 16 to substantially expand Downtown’s economic success and increase
opportunities for retail, office and residential development;
• NH 22 to create a popular and attractive residential environment that contributes to
the activity and sense of community in Downtown; and
• NH 34 to encourage activities that will promote the Fourth Street Retail Core as
being “Alive after Five”; and
WHEREAS, one of the City Council goals is to provide neighborhood and economic
vitality by supporting the development of key Downtown sites, and the City Council’s Economic
Development Committee has adopted "support development of key sites such as 1001-1009
Fourth Street" as one of its eight priorities; and
WHEREAS, Goldstone Management, Inc. ("Developer") has proposed redeveloping the
City Parcel and adjoining properties that Developer owns at 1009 and 1001 Fourth Street and
924-926 Third Street, into a proposed mixed-use residential/retail development, including a
market hall-style food emporium and a fully automated parking garage ("Project"); and
WHEREAS, Developer and City are parties to an Agreement to Negotiate Exclusively
with an effective date of December 7, 2019, as amended by an Amendment No. 1 to Agreement
to Negotiate Exclusively dated June 9, 2020 (as so amended, the “ENA”); and
WHEREAS, the ENA provides for a Preliminary Stage of the Negotiation Period (as such
terms are defined in the ENA) which, after extensions, was to expire on March 6, 2021; and
WHEREAS, Developer has requested that the City further extend the Preliminary Stage
of the Negotiation Period by an additional 3 months with the potential for additional
administrative extensions not to exceed 90 days in total; and
WHEREAS, the staff report accompanying this Resolution provides additional
information about the request and rationale for the extension request due to the COVID-19
outbreak, and Developer’s request for a City-prepared appraisal to assist with project pro-forma
analysis and parking garage feasibility determination; and
WHEREAS, while City and Developer have made progress towards completing the
milestones to be achieved during the Preliminary Stage, additional time is needed for the parties
to make their respective feasibility determinations regarding the proposed Project, including the
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proposed Automated Multi-Use Garage, and, therefore, staff recommends that the City Council
approve the attached Amendment No. 2 to the ENA; and
WHEREAS, Developer has agreed to augment its Preliminary Stage Deposit by
depositing with City an additional $15,000 to pay the additional costs anticipated to be incurred
by City during the extended Preliminary Stage negotiations; and
WHEREAS, amending the ENA is not committing the City to grant any land use
approvals for the proposed Project or to approve any further agreement with the Developer;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of San Rafael as
follows:
1. The City Council hereby finds and determines that the above recitals are true,
correct and incorporated herein.
2. The City Council hereby approves and authorizes the City Manager to sign on
behalf of the City Amendment No. 2 to the ENA in substantially the form submitted to the City
Council in connection with the consideration of this Resolution, subject to such minor changes
as the City Manager and City Attorney may approve, provided, however, that nothing in this
Resolution or the conduct of the negotiations pursuant to the ENA, as amended, shall be
deemed to commit the City to approve any land use approvals for the proposed Project or to
approve any further agreement with the Developer.
3. The City Council authorizes and directs the City Manager and his designees to
take such steps as are reasonable and necessary to ensure performance of the City's
obligations under the ENA, as further amended by Amendment No. 2, and to carry out the terms
and conditions of the ENA, as so amended.
4. This Resolution shall take immediate retroactive effect upon adoption.
I, LINDSAY LARA, Clerk of the City of San Rafael, hereby certify that the foregoing
resolution was duly and regularly introduced and adopted at a regular meeting of the City
Council of the City of San Rafael held on the 15th day of March 2021, retroactive to March 6,
2021, by the following vote:
AYES: COUNCILMEMBERS: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
LINDSAY LARA, City Clerk