09/04/2018 (2) - Laserfiche WebLink

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• There has been significant opposition from the public to selling this land for development. This seems to be derived from the history of the parcel as well as concerns about development vs. open space. Staff is concerned that if the County is unable to reach an agreement with a suitable successor to Verotown LLC, we may be faced with the prospect of selling Historic Dodgertown at some point in the future. In addition to the concerns about the City sale as expressed by some residents, the prospective loss of tourism and economic impact of Historic Dodgertown could have a negative effect on tourism related businesses in the County. The sale price currently offered ($2.1 million) seems relatively low based upon current market conditions and an appraised value of $3.5 million. The language in the sale contract restricting development is not well defined. County staff has concerns about potential incompatible uses adjacent to Historic Dodgertown. The specific language in the agreement is quoted below for your reference: " RESTRICTIONS ON USE OF PROPERTY. It is the Buyer's intention to restrict development and use of the Property to commercial uses such as restaurants, markets, professional offices, and hotels, with no residential development being permitted. The exact language of such restrictions shall be agreed to by the Seller and Buyer prior to closing." ALTERNATIVES: Following are some potential options for the Board's consideration: 1. Make an offer to the City to purchase the entire parcel. I have discussed our potential interest in the parcel with the City Manager, and he has stated that he would present any such offer to the City Council for consideration. 2. Make an offer to the City to purchase a portion of the parcel, while the prospective buyer purchases the rest. Based only upon a conceptual plan that was presented to the City, it appears that the buyer has plans to develop about half of the property in phase 1, with the remainder to be developed in a later phase 2. At this time, staff is not aware of how receptive the buyer would be to this concept. We. would need to explore this further. Based upon our calculations, it appears that about half of the —35 acre property would satisfy the large event parking needs. This parcel could potentially be developed for a passive recreation site or other beneficial uses that could accommodate parking for large events at Historic Dodgertown at some point in the future. We could also develop a common access arrangement to provide connectivity to Historic Dodgertown from the County's portion as well as the buyer's portion. 3. Approach the buyer about the possibility of a shared parking arrangement that could provide for the parking needs of both facilities. 4. The County has certain rights to parking on the property (see attached Parking License Agreement). Additionally, the County has various rights to ensure that any development on the site is not incompatible with Historic Dodgertown (see attached Interlocal Agreement). The County could explore these rights in further detail and take necessary actions as appropriate.