Title
Subject: Forest City Residential West, Inc.
From: Community and Economic Development Agency
Recommendation: Adopt an Agency Resolution authorizing the Agency Administrator to negotiate and execute a second amendment to the Exclusive Negotiating Agreement between the Redevelopment Agency and Forest City Residential West, Inc. regarding development of the Uptown Project in downtown Oakland extending the Exclusive Negotiating Agreement for an additional term of one-hundred and eighty (180) days
Body
RE: RESOLUTION AUTHORIZING THE AGENCY ADMINSTRATOR
TO NEGOTIATE AND EXECUTE A SECOND AMENDMENT TO
THE EXCLUSIVE NEGOTIATING AGREEMENT BETWEEN
THE REDEVELOPMENT AGENCY AND FOREST CITY
RESIDENTIAL WEST, INC. REGARDING DEVELOPMENT OF
THE UPTOWN PROJECT IN DOWNTOWN OAKLAND
EXTENDING THE EXCLUSIVE NEGOTIATING AGREEMENT
FOR AN ADDITIONAL TERM OF ONE HUNDRED AND EIGHTY
(180) DAYS
SUMMARY
This report recommends authorization of a second amendment to an Exclusive
Negotiating Agreement (ENA) between the Oakland Redevelopment Agency (Agency)
and Forest City Residential West, Inc. (Forest City). The proposed amendment will
extend the ENA for an additional term of one hundred and eighty (180) days to allow
completion and certification of documentation required pursuant to the California
Environmental Quality Act (CEQA), and to provide sufficient time to schedule a public
hearing by the Agency Board to consider whether to approve a disposition and
development agreement (DDA) between the Agency and Uptown Partners, LLC,
(Uptown Partners) for the development of a mixed-use project (the "Uptown Projecf') in
the Uptown Area.
In addition, this report provides an updated overview of the proposed business terms
between the Agency and Uptown Partners, which will be incorporated into the DDA for
the Uptown Project and brought to the Agency Board following action on the Final
Environmental Impact Report (EIR). This report also provides an update o...
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