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HomeMy WebLinkAbout07 CITY COUNCIL CONSIDERATION AND APPROVAL TO RELEASE A COMPETITIVE OFFERING FOR APPROXIMATELY 52 ACDocusign Envelope ID: 3EFE5DEg-C71E-480B-80B0-BFC4B657B312 MEETING DATE TO FROM Agenda Item 7 Initial Reviewed: a`L� City Manager Finance Director N/A MAY 20, 2025 ALDO E. SCHINDLER, CITY MANAGER BRIAN MONCRIEF, DEPUTY CITY MANAGER — REAL PROPERTY SUBJECT: CITY COUNCIL CONSIDERATION AND APPROVAL TO RELEASE A COMPETITIVE OFFERING FOR APPROXIMATELY 52 ACRES OF CITY -OWNED REAL PROPERTY WITHIN NEIGHBORHOOD E (PLANNING AREAS 9-12) OF THE TUSTIN LEGACY SPECIFIC PLAN SUMMARY: Staff is requesting City Council consideration and approval to release a competitive offering for approximately 52 acres of City -owned real property within Neighborhood E (Planning Areas 9-12) of the Tustin Legacy Specific Plan pursuant to the procedures recently approved by the City Council in Resolution 25-10. RECOMMENDATION: It is recommended that the City Council take the following actions: 1. Authorize staff to release a competitive offering for approximately 52 acres of City - owned real property within Neighborhood E (Planning Areas 9-12) of the Tustin Legacy Specific Plan pursuant to the procedures recently approved by the City Council in Resolution 25-10; and 2. Authorize the City Manager to continue and/or enter into temporary leases and licenses prior to final disposition. FISCAL IMPACT: There is no fiscal impact associated with this item. CORRELATION TO THE STRATEGIC PLAN: The consideration and approval to release a competitive offering for approximately 52 acres of City -owned real property within Neighborhood E (Planning Areas 9-12) of the Tustin Legacy Specific Plan contributes to the fulfillment of the City's Strategic Plan Goal A: Docusign Envelope ID: 3EFE5DEg-C71E-480B-80B0-BFC4B657B312 City Council Agenda Report Tustin Legacy NE PAs 9-12 Offering Approval May 20, 2025 Page 2 Economic and Neighborhood Development. Specifically, this item implements Strategy 1, which is to develop critical phases of Tustin Legacy. BACKGROUND AND DISCUSSION: Approximately 52 acres within the Tustin Legacy Specific Plan (TLSP) Neighborhood E (Planning Areas 9-12) (Site), have been identified for a competitive offering process. However, the acreage may be subject to modification based on discussions with proposers through the offering process to optimize the Site for future development, infrastructure and/or other right-of-way considerations. The Site is generally bounded by Tustin Legacy Park to the south; Warner Avenue to the north; Red Hill Avenue to the west; and Armstrong Avenue to the east. Neighborhood E is categorized as Commercial/Business within the TLSP. Other allowable uses within Neighborhood E PA 9-12 include retail commercial, service commercial (including hotel), research and development (R&D), office, public/institutional and recreational. The land use plan for the TLSP is included as Attachment 2. If a proposal for the Site includes land uses not currently allowed under the TLSP, it would be subject to future City Council consideration and approval of a TLSP amendment. The Site has cleared the Surplus Land Act (SLA) Notice of Availability (NOA) process and the City can proceed to negotiate and dispose of the property as it sees fit, so long as a covenant is recorded against the property requiring that if 10 or more units of residential use is ever constructed on it, then fifteen percent (15%) of the total amount of residential units must be reserved for lower -income households. On February 4, 2025, the City Council adopted Resolution 25-10 which established a policy requiring City Council consideration and approval prior to the release of any future competitive offerings for the disposition of City -owned real property. Pursuant to Resolution 25-10, staff is requesting City Council consideration and approval to prepare and release a competitive offering for the Site that will solicit offers and/or proposals for land uses that are permitted under the current zoning as well as other alternative land uses that support the City's broader economic development, community benefit, and/or strategic planning goals. Staff anticipates the release of an offering in June/July 2025. Staff would also propose authorizing the City Manager to continue and/or enter into temporary leases and licenses on the Site before final disposition to generate interim rental revenue as may be appropriate. Signed by: Brian oncrlef Deputy City Manager — Real Property Signed by: aAA, SWtbtn U Ryan wlonte c Deputy Director of Real Property Docusign Envelope ID: 3EFE5DE9-C71 E-480B-80B0-BFC4B657B312 City Council Agenda Report Tustin Legacy NE PAs 9-12 Offering Approval May 20, 2025 Pa igned by: rK pl,�- Kennet Iguee Real Property Manager Attachments: 1. Parcel Map 430-27 2. Tustin Legacy Specific Plan land use plan Site Section 2 Figure 2-1 Land Use Plan TUSTI N 7LEGACY SPECIFIC PLAN LEGEND 7-7 Tustin City Limit 1 Specific Plan Boundary 0 Mixed -Use Transit 0 Mixed -Use Urban © Commercial P© Commercial / Business Residential Park Tustin Legacy Park Overlay Transitional/Emergency Housing Education Village Existing R.O.W. Proposed R.O.W. PA# Planning Area 0' 800' 1,600' 2-4 City of Tustin