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CCDC News: CCDC News Digest 10-18-07 (Board Meeting Summary)

NEWS RELEASE

Date: October 18, 2007
Contact: Derek Danziger
619-533-7103 or
Tiffany Metti
619-533-7136
www.ccdc.com

CCDC News Digest
Regular Meeting of the
Centre City Development Corporation (CCDC)
Wednesday, October 17, 2007

Special Notes: CCDC’s regular meetings are held at City Hall in the City Council Chambers, 12th Floor, City Administration Building, 202 C St. The next meeting will be at 2 p.m. on Wednesday, November 28.

The following summarizes Wednesday’s meeting:

BOARD RECOMMENDS ADDITIONAL FUNDING FOR FIRST-TIME HOMEBUYER PROGRAM (Areawide)
The Board recommended that the Redevelopment Agency authorize an additional $1,200,000 for the downtown first-time homebuyers program to go toward the 25 units at the Smart Corner condominium project, set aside specifically for first-time homebuyers. The program provides funding to assist moderate-income, first time homebuyers to buy their first home downtown. Qualified buyers can obtain a maximum $75,000, 30-year, zero-interest loan with no payments for the first five years. Per the Development Agreement, the Agency is required to provide loans to eligible buyers of the 25 units at Smart Corner priced within the program’s restrictions. The San Diego Housing Commission administers the program and four loans have been given out since the program’s inception.  (Vote: 4–0 with Vice Chair McNeely and Director Cruz excused.) To read the full staff report for item 7, click here.

BOARD AUTHORIZES AGREEMENT FOR A DOWNTOWN TRANSIT-ORIENTED ALTERNATIVE STUDY (Areawide) The Board authorized an agreement with McCormick Rankin US Inc., to prepare a Transit-Oriented Alternative Study of downtown. The study will assess both innovative concepts and practical solutions for more efficiently managing downtown’s transportation system, and will investigate funding options for specific transit improvements with the intent to reduce significant transportation and parking impacts of the Downtown Community Plan. The study offers the opportunity for an internationally recognized transit planning firm to investigate opportunities, evaluate alternatives and make recommendations relating to mobility issues downtown and in the major transportation corridors serving the area. Funds for this study in the amount of $475,000 are available in the Fiscal Year 2008 Areawide Community Plan Budget. (Vote: 4–0 with Vice Chair McNeely and Director Cruz excused.) To read the full staff report for item 6, click here.                                                                                                                                                 
BOARD RECOMMENDS RECEIPT OF 2007 AUDITED FINANCIAL STATEMENTS (General)
The Board recommended that the Redevelopment Agency receive and file the Fiscal Year 2007 audited financial statements of the Centre City Development Corporation. An operating agreement between the Redevelopment Agency and the City require that after the close of each fiscal year the Corporation submit audited financial statements prepared by an independent certified public accountant.  (Vote: 4–0 with Vice Chair McNeely and Director Cruz excused.) To read the full staff report for item 9, click here.

BOARD RECOMMENDS PROJECT APPROVAL FOR 777 BEECH MIXED-USE PROJECT (Cortez)
The Board recommended that the City Council/Redevelopment Agency approve the 777 Beech project by developer Peter Janopaul. 777 Beech is a mixed-use project consisting of 78 residential condominium units, 15,261 square feet of retail and commercial space and 144 parking spaces in a 12- to 13-story building along the south side of Beech Street along Seventh and Eighth avenues (directly north of the historic El Cortez building). On September 27, the City of San Diego Historical Resources Board (HRB) found the project consistent with the U.S. Secretary of Interior’s Standards for Rehabilitation with respect to new construction adjacent to a historic resource. The project will require review by the Planning Commission and City Council/Redevelopment Agency. (Vote: 4–0 with Vice Chair McNeely and Director Cruz excused.) To read the full staff report for item 11, click here.

BOARD APPROVES DESIGN REVIEW FOR MONACO PROJECT (East Village)
The Board approved design review of the Ghods Builders LLC’s Monaco project, located on a 20,081-square-foot site on the north side of Broadway between Eight and Ninth avenues. The project contains 310 units in a 41-story tower (435 feet tall) and includes four levels of retail space and 500 parking stalls. The project will provide 23 affordable housing units to downtown and receive a 35 percent Affordable Density Bonus. The project site is currently occupied by three vacant low-rise commercial buildings, including the Fletcher Building at 1018-1020 Ninth Avenue, which has been designated by the Historical Resources Board for its land use (real estate developer Ed Fletcher has offices there). The building’s demolition will require approval by the Planning Commission. (Vote:
4–0 with Vice Chair McNeely and Director Cruz excused.) To read the full staff report for item 12, click here.

BOARD RECEIVES PRELIMINARY DESIGN PRESENTATION FOR THE SEVENTH & MARKET MIXED-USE PROJECT (East Village)
The Board received a preliminary design presentation and provided staff and developer direction for the Related California Urban Housing, LLC’s and CityLink Investment Corporation’s mixed-use project, Seventh & Market. The current design includes a 42-story building with a 637-space public parking garage, 330 residential units (20 percent of which will be affordable), 19,500 square feet of retail space, a 183-room hotel, and 8,600 square feet of cultural use space. (The Board received a presentation and gave preliminary design comments for this item.) To read the full staff report for item 13, click here.

To read the entire President’s Report from the October 17 Board Meeting please click here or visit www.ccdc.com in the Meetings and Events section, October 17 Board Meeting.
                                                                           

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About CCDC
Centre City Development Corporation is a public, nonprofit corporation established in 1975 by the City of San Diego to plan and facilitate the redevelopment of downtown’s 1,500 acres. To learn more, visit www.ccdc.com

About CCDC
Centre City Development Corporation (CCDC) is a public, nonprofit corporation established in 1975 by the City of San Diego to plan and facilitate the redevelopment of downtown’s 1,500 acres. To learn more, visit: www.ccdc.com

Special Notes: CCDC's News Digest can be delivered to your e-mail address. Simply fill out our email form to choose the type of messages you would like to receive. CCDC's regular meetings held at City Hall are televised live on City Access TV channel 24-Time Warner and Cox Cable.