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Home My WebLink AboutNegotiate Regents-UCR Additional LandOVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: AUTHORIZE THE EXECUITVE DIRECTOR AND STAFF TO NEGOTIATE WITH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA (UCR) TO EXERCISE THEIR EXISTING OPTION AGREEMENT FOR ADDITIONAL LAND ADJACENT TO THE EXISTING UCR-PALM DESERT CAMPUS SUBMITTED BY: Martin Alvarez, Director of Economic Development DATE: June 26, 2012 CONTENTS: Site Map UCR Correspondence Dated June 5, 2012 Recommendation Authorize the Executive Director and staff to negotiate with the Regents of the University of California (UCR) to exercise their Option Agreement for the additional land adjacent to the existing UCR-Palm Desert Campus. Backqround On March 22, 2001, the former Palm Desert Redevelopment Agency entered into a Disposition and Development Agreement (DDA) with the Richard J. Heckman Foundation and the Regents of the University of California, on behalf of its Riverside campus to facilitate the creation of the University of California Riverside — Palm Desert Campus and its existing facilities. The Agreement was subsequently amended on December 12, 2002. The agreement allowed the transfer of approximately 8.5 acres to the Regents of the University of California for the establishment of the International Center of Entrepreneurial Management (ICEM) and the A. Gary Anderson Graduate School of Management. After the completion of the facility improvements, the parcel was transferred to UCR for $1.00. Upon the completion of the UCR-Palm Desert improvements (Phase 1), the DDA granted UCR a 25 year option to acquire title to Parcel B, an 11.5 acre site located adjacent to the UCR-Palm Desert Campus (see site map) The agreement stipulated a requirement by UCR to demonstrate availability of funding to expand the facilities at UCR-Palm Desert Campus prior to the transfer. On June 5, 2012, the City received official notification from the Regents for the University of California requesting the opportunity to exercise their option on the 11.5 acre Parcel B pursuant to the existing DDA (see attached correspondence). UCR's interest in the parcel is in the context of their ongoing development of program opportunities for a UCR's School of Medicine at the Palm Desert Campus. �3 Oversight Board Staff Report Authorize Negotiations with UCR to Exercise Option Agreement for Parcel B June 26, 2012 Page 2 of 2 On May 10, 2012, the Successor Agency to the Palm Desert Redevelopment Agency authorized staff to initiate negotiations with UCR to facilitate the future transfer of the property. If the Oversight Board authorizes staff to proceed with the negotiations, the schedule below would be followed: • In July 2012, the City would meet with UCR to receive an update on the proposed development plans for Parcel B, UCR's future school of inedicine program, funding, and timing of the project. • In the Fall of 2012, the City will coordinate a University Planning Committee meeting to discuss the proposed Option for Parcel B and receive a recommendation on the project and the transfer of the property. • After this meeting, the City will begin drafting an agreement to effectuate the transfer of Parcel B to UCR with agreed upon stipulations. • The final agreement will require approval of the Successor Agency and Oversight Boards to the Palm Desert Redevelopment Agency. Staff recommends that the Oversight Board authorize the Executive Director and staff to negotiate with the Regents of the University of California (UCR) to exercise their Option Agreement for the additional land adjacent to the existing UCR-Palm Desert Campus. Fiscal Analysis There is no fiscal impact associated with this action. Submitted By: �I"artin Alvarez, ' Director of Economic Development �Y�� Paul S. Gibson, Director of Finance Approva�: �t��-- t�—"�C' -z '�� Jan Moore, Director of Housing Y OVERS��HT BOq1t� ON VERIFIED By Original on file with City Clerk's Ofl�e C �-o , �-s �,5�„r-,-� John�fV,l. Wohlmuth, Executive Director 1\srv-fi12k31groupslyda\Martin Alvarez�2012\SR\OBSRIUCR Option Parcel6-26-120B.doc 1� �� f1�'� r� \�� i rDt r�� i,t E lohn M, Wohlmuth City Manager City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260-2578 RE: UCR Request to Exercise Optfon for Parr.e) "B" Fee Title Dear John, Capital Programs 1223 Universily Avenue; Suite 2A0 Riverside, CA 92521-�101 June 5, 2012 In conjunction with the Disposition and Deve(opment Agreement (DDA) (2001) and First Amendment (2002), UCR wishes to exercise the optfon to acquire fee titie for "Parcel B" as described in the DDA documents (approximately 11 acres). UCR's interest in acquiring fee title for Parcel B is in the context of ongoing development of program opportunities for UCR's School of Medicine (SOM} in the Palm Desert area. Detailed program development will commence in July 2012 under the aegis of the SOM's Dean, Richard Oids. Some of the program areas intended for f�eation and development on the Parcel B site include, but are not limited to the following; • Health, Wellness, and Patient Education facilities; • Graduate Medical Education facilities; • Continuing Medical Education facilities; • Teaching and Clinical Care facilitles; • Medical Offices and Faculty Offices; • Potential Future Graduated Senior Livin�; facilities; and, � Infrastructure and Parking associated with the above, As plans for Parcel B develop, UCR would welcome the chance for review and input from the City of Palm Desert. In this context UCR would ��Iso be open to explore any partnership opportunities with the City of Palm Desert that �Nould benefit the community. I look forward to working on the next steps of ttie Parcei B fee tltle acquisition with your office. Sincerely, ? � n 1 ;�__,(�r^;,%� /f��___- f��- G Timoth�D. Ralston, AIA Ass��ciate Vice Chancellor — Capital Programs Cc: Assistant Vice Chancellor Walton Chief Operating Officer Nedges Phone 951-827-2433 • Fax 951.827-3299 l� � '" � � , � a �y: . o z p fr � � `� �:� . :.,� � �i;,�.:iw "�''� .. P� �� e '�.,,,�. � �y�; .. �d t� : ,`�'+�� •. ,� 4\ 1 ..A n„t�i"" �,�:�.�. � ��• � 1 6� �'�� i �' ' { "r ^ A•. ```� - � . 9C 4 T_ ` {� . I �� ♦.. �F' "§:.� .�4; � '� . � �f'i�/• �' �} � r j��r~` �� J. � v A _- . "� k ; ii v/" ..�'� ' �•. �� / . � *�� xr.��{ a2 i'" . . �'+'� � �`W�� `� R iN'� 4r. .i =:;5 . • �,./1/��, ' `' ��'4 M ..r� .*, "�. a Y � r��q O� .�. U. �� -`j[�'�� t ev �i0 � ��`"i� ' `"� � ``a +�� M I O ,a i�� '* 'a. �� , ,Al1 +i'i��r \'A. + � f � , w � v R y//^� nr , ��e � � ��4E A `� w �� y. 7l./�/C�v�� , .'� �� :;: ^-..,,,`-� (� �y � � ) � 1' y : q 9. �. ;,y-,+ ,.� � � , g* i. ` z „ ,4j,(� -�; � ; �, . s � c �, ��:i�� '� ��../��'S ' ��. � � xRc ZT. �"r ,R L� r'`.`ky; T A1 y,i el fi' .. e� v. . � „�.. ^ : . 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