Second District Update_Jan 2020

REAL ESTATE

RDA Long Range Property Management Plan (Plan)

 Plan completed and submitted to Department of Finance and now approved by DOF.  Marketing Plan approved by Successor Agency and proceeding with all Marketing efforts.  Marketing Plan has been delayed due to new approval of ROPS.  Approval of ROPS 19/20 in progress.  The following is our LRPMP disposition update: o 21 projects sold/transferred. o 4 in negotiations. o 0 in escrow. o 11 projects in various marketing stages.  Ground Lease and Facilities Lease Agreements approved by Board of Supervisors.  Project in Construction stage. Shell/Core, TI, Connection Point, and Equipment Coordination planning meetings in progress.  Final Agreements approved by Board on November 14, 2017.  Restaurant RFP results in Award to Panera Bread. Selection with Lease negotiations being finalized; Lease to be sent to County Counsel for final approval. Lease approved by Board on June 4, 2019, tenant improvements underway.  Panera tenant improvements underway, Panera Grand Opening scheduled for November 19, 2019.  Completion of M.O.B. expected December 2019. Ahead of schedule and under budget.  Panera Opening Ceremony planned for Thursday, December 12, 2019 at 2pm.  Rent Commenced on December 13, 2019  8 Properties in Project.  All offers presented.  All lawsuits filed. Court granted County’s Motion for Prejudgment Possession.  Hamner Park Associates – Mediation scheduled for December 18, 2019 was postponed until further notice.  Request for Production of Documents completed.  Deposition in process with PMK (Persons Most Knowledgeable)  Construction completed.

Riverside University Medical Center - M.O.B.

Transportation Related Project: Limonite/I-15 Interchange Project

Transportation Related Project: Jurupa Grade Separation Project 210 properties in Project

 9 Offers presented, in negotiations.  Granted prejudgment possession. 09/17/2019 for 76 Gas Station  1 Offer accepted (Lacko), agreement and Form 11 in process.  1 Tenant (Dog Groomer’s) relocated.  2 Tenants in process of being relocated (El Colima restaurant and Laundromat).  4 Appraisals in process.  3 Properties waiting for legal descriptions and plat maps to be appraised.  3 Property potentially to be re-appraised.