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HomeMy Public PortalAbout08-18-1998LRA~, dx_ .<,T- ~~~ 4 LYNWOOD REDEVELOPMENT AGENCY 11330 BULLIS ROAD LYNWOOD, CALIFORNIA 90262-3845 (310) 603-0220 Armando Rea, CHAIRMAN ` Arturo Reyes, VICE CHAIRMAN • -Louis Byrd, MEMBER Paul Richards, MEMBER Phu _ o RlCardO SanCheZ, MEMBER (~ E C E I V E D CITY OF I.YNW000 ' .. CITY CLERKS OFrICE - AUG 13 1998 _ aw w - ~ A G ~E N D A 7ss,n,u,i2,1,2,s,4,5,s . - ,~, LYNWOOD REDEVELOPMENT AGENCY AUGUST 18, 1998 REGULAR MEETING s:00 P.M. LYNWOOD CITY HALL, 11330 BULLIS ROAD ARMANDO REA - CHAIRMAN . ARTURO REYES LOUIS BYRD VICE CHAIRMAN MEMBER PAUL RICHARDS RICARDO SANCHEZ MEMBER MEMBER INTERIM EXECUTIVE DIRECTOR AGENCY COUNSEL Ralph Davis SHAN K. THEVER OPENING CEREMONIES: • A. Call Meeting to Order. B. Roll Call (BYRD-REYES-RICHARDS-SANCHEZ-REA) • C: Certification of Agenda Posting by Secretary. PUBLIC ORAL COMMUNICATION PUBLIC ORAL COMMUNICATIONS (REGARDING AGENDA ITEMS ONLY) ITEMS FOR CONSIDERATION • 1. MINUTES OF PREVIOUS MEETING Regular Meeting of August 3, 1998 ~, ,,-r 2. ' A RESOLUTION OF THE LYNWOOD :REDEVELOPMENT AGENCY OF LYNWOOD, CALIFORNIA, ALLOWING AND APPROVING THE DEMANDS AND WARRANTS THEREFOR. . . . .REGULAR ITEMS ' 3. SELECTION OF HOUSING PROPOSALS. . Purpose: To inform and present the Agency with housing proposals that have been submitted and proposed on City owned property located at Phillips/Edgebrook Avenue and Clark Street.• Recommendation: -Staff respectfully requests, that after consideration of the facts .presented, that the Agency direct staff on the options presented. 4. DEVELOPMENT CONCEPT REVIEW OF A PROPOSAL TO DEVELOP AN INDUSTRIAL BUILDING ON A PORTION OF THE FORMER - ' WESTEC GEAR PROPERTY. - Purpose.: To have the Agency review the development concept of a .proposal . submitted by Sares Regis Group (the "Developer") for the development of a 324,394 sq. ft. industrial building. ~ . Recommendation: ~ ~ . Staff respectfully requests that after consideration, the Agency approve _ , the development concept and allow the Developer to pursue the project through the Site Plan Review process of the City and provide periodic updates to the Agency relative to the tenant(s) for the .project. PUBLIC HEARING ITEMS • NONE INFORMATION ITEM NONE - ~ CLOSED SESSION - " . ~ 5. THE REDEVELOPMENT AGENCY SHALL CONVENE TO CLOSED . ~ SESSION PURSUANT TO SECTION 54956.8 CONFERENCE WITH REAL PROPERTY NEGOTIATOR. ~r Property: . AGENCY PROPERTY LOCATED AT 10831 Long Beach Boulevard. • Negotiation: a 1. Lynwood Redevelopment Agency and M & A Gabaee. Under Negotiation: ' _ Terms of acquisition. 6. THE REDEVELOPMENT AGENCY SHALL CONVENE TO CLOSED SESSION PURSUANT TO SECTION 54956.8 CONFERENCE WITH - REAL PROPERTY NEGOTIATOR. Property: Property located at 3840 Martin Luther King Boulevard. Under Negotiation: • Potential ac uisition. q ' ADJOURNMENT Motion to adjourn to a Regular Meeting of the Lynwood Redevelopment Agency to be held September 1, 1998 at 6:00 p.m. in the Council Chambers of City Hall, 11330 Bullis Road, Lynwood California .. • LYNWOOD REDEVELOPMENT AGENCY, AUGUST 3, 1998 'The Redevelopment Agency of the City of Lynwood met in a Regular Session in the City Ha11, 11330 Bullis Road, on the above date at 6:13 p.m. Chairman Rea presiding. Member Byrd, Reyes and Rea answered the roll call. s Also present were .Executive .Director Gonzales, Agency Counsel Thever; Secretary 'Hooper and Treasurer Pygatt. .Secretary Hooper announced the Agenda had been duly posted in accordance with The Brown Act. PUBLIC ORAL COMMUNICATIONS -AGENDA ITEMS ONLY None PUBLIC ORAL COMMUNICATIONS None ITEMS. FOR CONSIDERATION ' It was moved by, Member Reyes, seconded by Member Byrd and carried to approve the following minutes a) Regular Meeting; July 21, 1998 Member Richards arrived at 6:14 p.m If was then moved by Member Reyes, seconded by Member Byrd to adopt: LRA RESOLUTION NO. 98-24 ENTITLED: "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF LYNWOOD, CALIFORNIA, ALLOWING AND APPROVING THE DEMANDS AND WARRANTS 'THEREFOR". ~~ Chairman Rea questioned warrants #5268 and 5271 Member .Sanchez arrived at 6: i 5 p.m. ROLL CALL: AYES: MEMBER BYRD, REYES, RICHARDS, SANCHEZ, REA NOES: NONE • ~ ABSENT.: NONE ~ ' PUBLIC HEARINGS Chairman Rea introduced the next item, a Joint Public Hearing for Consideration of a Proposed Disposition .and Development Agreement ("DDA") Between the Lynwood Redevelopment Agency and West coast United. . It was moved by Member Richards,. seconded by Member Reyes and carried to open the public hearing. Hearing no discussion, it was moved by Member Richards, seconded by Member Reyes and carried to recess the public hearing to reconvene a joint public hearing between the Agency-and the City Council. CLOSED SESSION Tt was moved by Member .Reyes, seconded by Member Byrd and carried to recess to Closed Session at 6:17 p.m. for the purpose of holding a conference with real property negotiator for: PROPERTY ' Agency property located.at 10831 Long Beach Boulevard AGEi+IDA I T~:1 r,~ NEGOTIATION Lynwood Redevelopment Agency and M & A Gabaee UNDER NEGOTIATION " i i i T f A erms o cqu s t on s Agency reconvened at 6:43 p.m. Agency Counsel Thever stated the Members had met in .Closed Session to discuss the terms of acquisition, and staff has been directed to bring this matter back at the next meeting. Chairman Rea informed the Executive Director to bring back at status report on the Edgebrook property at the next meeting. Having no .further discussion, Chairman Rea recessed the meeting at 6:45. p.m. ' Agency reconvened at 8:22 p.m, to conduct a Joint Public Hearing with the City Council. It was moved by Member Reyes, seconded by Member Sanchez to adopt: LRA RESOLUTION NO. 98-25 ENTITLED: "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY MAKING CERTAIN ENVIRONMENTAL FINDINGS WITH RESPECT TO THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE rE LYNWOOD REDEVELOPMENT AGENCY AND WEST COAST UNITED". GRA RESOLUTION NO. 98-26 ENTITLED: "A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPMENT AGENCY AND WEST COAST UNITED". ROLL CALL: AYES: MEMBER BYRD, REYES, RICHARDS, SANCHEZ, REA NOES: NONE ABSENT: NONE Having no further discussion, it was moved by Member Reyes, seconded by Member Richards and carried to adjourn at 8:24 p.m. CHAIRMAN ARMANDO REA SECRETARY ANDREA L. HOOPER • ,' i ~~ -~ ~ ~7 II .. ? 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O: ' I :: , ~• < ~ m Ito O ~ :a N ! 4 Zr I ¢~ m ~ I ~ ro + i ro ~ I ~ p ! j m.~ N t7 O I m d , ! ~ a; 'TA { ~ ~I ~ G ~• I o ~ .o i ~ N ~ ro ! s i ro '~ ~ ~ ` •1 i o; .: ;, I C .;p :~ E ~ .. I t et• rQ ~~ .' f N: ! ~~ ~ Q ~ ~- i n.; ! a: ~ i , . ~ . I ~ '4 .., • , '' i I I i. - ` : . _ ~ - 1 } :I i • DATE: AUGUST 18, 1998 TO; HONORABLE CHAIRMAN AND MEMBERS OF THE AGENCY .From: Ralph Davis,lnterim Executive Director By: Gary Chicots,- Director Community a opment Louis `Morales, Associate Planner Subject: SELECTION OF HOUSING DEVELOPMENT PROPOSALS Purpose: To inform and .present the Agency with housing proposals that have been- . ~ .submitted and proposed on City owned property located at Phillips/Edgebrook Avenue and Clark Street. Facts: •- ~ 1. The subject site is currently owned by the City (the "Property") and is outside the boundaries of the Redevelopment Project Area. The Property is located on the east side of Phillips and Edgebrook Avenue at Rayborn . Street, Pelleur Street, and Clark Street (See attached Redevelopment Project .Map/City Map): ® 2. The Cit has owned the Pro ert for over ten ears and was ac uired for . Y P Y Y q parkland purposes. The Property is comprised of several remnant parcels from the I-105 freeway. The Property is approximately 2.7 acres and has an appraised value of $200,000.00 (See attached Assessor's Map). 3. The Property was previously being rented to MCM Construction for ~ - .$700.00 per month: MCM was a contractor that was working on the construction. of the I-105 freeway. The City inherited MCM as a tenant from Cal Trans when. the City acquired the Property from the State and subsequently negotiated the rent amount to $700.00 per month. 4; The Property is located in a predominately Single-Family area and is capable of accommodating between eighteen to nineteen .units. 5~. .The Agency has received two unsolicited development proposals for Agency consideration. Mayans Development fias submitted a proposal for ~ ~. the development of nineteen (19) units and Abell-Helou Builders Developers has submitted a development proposal for the development of nineteen (19) units. 6. The Property is owned by the City which will require a pass through .agreement between the Agency and the City in order for a specific project : i to occur on the Property. A pass through agreement will enable the City to collect the full appraised value of $200,000:00 for the Property. - 7. - .Since the City holds title to the Property and the Agency is the authorized entity to establish terms for a project, a developer requested subsidy will - have to paid by the Agency. ~ ~ . ' ~iG~NDA ITEM . ~ • ~ ~;:. ~' Discussion The unsolicited proposals received are similar in the type of product that will be cgnstructed and offered. Both proposals are requesting. that the City allow forthe .processing of a lot line adjustment for the project compared to a tract map and both are seeking that the City waive the $2,278.50 per unit parkland impact fee. The proposals differ in the amount of subsidy being requested- Mayans Development Proposal Mayans Development is based out of Downey, California and has over seven (7) years of development experience. Mayans has done extensive work in the City of Commerce. :Mayans proposes to develop nineteen (49) units and proposes to sell the homes between $155,000.00 - $165,000.00. The homes will be approximately between 1,50Q - 1,600 sq. ft. and will be a mixture of one and two story. The homes will . contain 3 to 4 bedrooms and will have 2.5 bathrooms. Mayans proposes to include a program to train selected youth in the City and has received a commitment letter from Century Center Economic Opportunity (``CCEO") to fund the youth~training program (see attached .letter). Mayans has does a similar project in the City of Commerce (See attached "Youthbuild".flier). Mayans was initially .requesting a project subsidy of $152,000.00 or $8,000:00 per lot: That scenario had Mayans paying an average of $2,526.31 per lot. Since then Mayans has revised their proposal and is no longer requesting a project subsidy. Instead Mayans proposes to pay full value for the property. Mayans had an Exclusive Negotiating Agreement ("ENA") with. the Agency which has expired.. Terms of a DDA were not established due to the amount of subsidy that was originally being requested. Abell-Helou .Proposal i~ Abell-Helou Builders Developers is located in Covina California and has developed over 100 units since 1991. Abell-Helou proposes to develop nineteen (19) units and proposes to sell the homes with an average sales-price of $150,000.00 or equivalent to appraised market value. The homes will. be approximately 1,500 - 1,600 sq. ft. and a mixture of single and two story units will be developed in the project. There will be two different two-story plans and one one-story plan. The proposed .homes will all be four (4) bedrooms homes and will have 2.5 and 3 bathrooms {See attached plans). Abell-Helou also proposes to incorporate a youth training program. In addition Abell-Helou will provide local contractors. with an opportunity to submit bids on the. construction of the project by advertising 30-days in the local newspaper .prior to opening the bid process. Abell-Helou also proposes to offer a Home. Buying Educational Program to qualified buyers that may assist in reducing the mortgage rate for the buyer (See attached marketing plan). Abell-Helou also ,mentioned that they will look to the County of Los Angeles to provide funds that could be used for silent seconds for first time buyers as that-have used in-other projects. In addition, Abell'-Helou proposes to incorporate and offer job/training opportunities to the youth of Lynwood and proposes to utilize similar programs that they have participated on previous projects. . • Abell-Helou proposes to purchase the land from the City for the appraised value of $200,000.00 and proposes to pay in cash. Abell-Helou is not new to the City of Lynwood. Abell-Helou was. previously +~ ~ affiliated with the Rose Street Company which had an ENA with the Agency in b 1997 to develop eighteen (18) homes on the Property. Terms fora DDA were not . reached with Rose Street however, Abell-Helou feels that due to market conditions improving for housing, project terms are more readily attainable and - ` . prompted Abell-Helou to revisit the Property--under different terms which is a .. result of the proposal presented. e As the unsolicited proposals are compared, both developers have extensive knowledge and the capability of undertaking the development and both offer . - programs that wil( be beneficial to the Agency and City. The Mayans proposals as submitted contains a more well defined youth training program. Other that the specifics of youth .component the proposals are similar. To further simplify the review,. the,following is a comparative overview forthe two (2) proposals. - a an Abell-Melou Item Product 19-Homes 19-Homes Proposed Sales price/home $155,000 $150,000 Two-Story units Yes Yes Size of Units 1,500-1,600 sq. ft 1,.500-1,600 sq. ft. Four bdrm units Some All Down Pymnt assistance Yes. Yes Youth Training Program Yes Yes ` ~ Home Buying Ed. Program No Yes - I Reconfiguration of lots will ~ require a Tract Map (TM) or a Lot Line Adjustment (LLA) the - Developer ,proposes a LLA LLA Land is valued @ $200,000 Developer proposes to pay $200,000 $200,000 ~ ~ Amount. of Agency financial assistance. requested $0 $0 Cost to the Agency for Project $0 $0 If the Agency determines that it would like to receive additional and specified proposals in addition to the two unsolicited proposals received and ,presented, . i the Agency has the option of directing staff to .establish and send out a Request for Proposal/Qualification ("RFP/RFQ") for the development of the Property. Under the RFP/RFP process specific development guidelines and deal terms ~ ~ maybe established by the Agency which would be incorporated into the RFP/RFQ and would be used in the review of the proposals received in response to the RFP/RFQ. Recommendation: Staff-respectfully requests, that after consideration of the facts presented, that the Agency direct staff on the options presented. H:word/redevelp/Imorales/mynhelu.2stf 4 t'; T? _ ~ ,~ ^~e„~ _ I~ i .;I ~ li .' -F. (/' ~ ~ 1, n C` -~' ` rti~ Y // , ~~• - _ ~~ j ~- r ~- ~ ~ __ .r , f ~ I _ H __ •, - • r` y o . ~, ~~ ~ ~c ^ ~ t , • . .. . j • s - 'K~Jr 7 r ~N ~ - ~N ~ ~ N . ~ •~N ~ m . ~ I ~, N ~ ~ . ?N i ~' . r ~ .~ < a u ? ti ~ ~~ ~ . . . _ ,~ ti ~ °~-STRK ~ ~ ~': ~ ~ ~ / ~ ~ y ~ ~ ~ ~ y ~ ~~ ~ ~ ~ Of C~ pi ~ ~ = O ~ ~ ~, \ tp ~ ~ o~ m C~ ` ~ ~n ~ .~o ~ yJZ !i J I~E S` v • T ~ ars w ~/ b ~~ N o, o~ ` ~~ k~` -~ ~ ~ M ;o M d ~ ~ ti ` ' ~ 1 . ~ ~ ~ ~ J~ iy ~ ~ ~ ~ , . m ~ i ~ s ''"~'~ssr~ Z i`~~ rar ~ ` ~ ~ ~a J ~ - ~ R SBpRN r . e.4 OO Ow MO g 8 r ~ MAYANS DEVELOPMENT AND _- LYNWOOD YOUTH BUILDING HOMES AND' LIVES Presents • Edgebrook Developmerrt • City of Lynwood - ~ 1 ~ I I I I _ f w I -s v w i . i ~i - I r r ~. . _ ~ $ ~N ~ ® ~ ~ '~' m . ~ - ~ ,~, ~• ~ ts' , ~ N A N I ~ i~' // ~ p r p ,m ~ ,K. ~ o ~ ~ a~ ~ _ ~ 141' ~~---~D ' CLARK I ~ Ix' STREET n ~ om -- ~°' ~~ ~, i . ~ ~.., ~ O. -+~ }Q' y T 125. ~ n S D m ~~ ~. ~ ~ ~ ~ ~~g~ 9 m ~ m~ ~ - - m ~ ~,Z ~ ~ T 121' ' ~ &n~H v,~ +1 ~ m ~ ' ~ ~. N, , a ar 0 i ~ C ~~ O M O N j± ~ ' 2 ~ I t2 ~ ~ • ~ 1~ ~ ~ .~ ' _ O ~ . e ~ ~ - ~ fTl `"~ PELLEUR STREET ~ ~ , - ~ ® . 1ao N ~. _ n M~----1- -o~~ m ~ ~ ~ ( ~ ~' `OO ~ Z m~ a. o Z m Z ' c r ~j ,•1 ~ , oa~~ ~ ~ m ~, ~ '~M~ S u Z _gso . C I o n =o2~2y ~ 1 ~ ~m ~ ~ A~ _ ~ n ~ ~-~ i ~ ® a y0 ~ ~ ~~ L ~ k n ~ . m N _ - ~' ~, T ~ I - ~ 11' RAYBORN STREET N _ o ~, _ m m _ _ . rn ~ m ~' -1 0 s �r • 0 0 0 0 SITE PLAN - •- 's'''~ •'• ~' ~4tt~ a . + - -- -•-- .,J -- , w. ----- ~q - ~ ~ II ~A ~L.Y~M1~ ~ -'rT i~ - -- ., 1 tw w ~ 1~1 -. 41/00+V fif ~ ~~ ~ ~ ~ f. 1 i A - . --t.. -. . t _.._ 1~- . ~ . .. . I s ~- - 11 ~ , ~ ~ ~ ~~ 1~ ~~ titer ,~ ~~ ~~ ~ ~ .. ~ ~- ~ ~~ ~ ~ 1 © "' ~ . v ~, 1 r ~ ~~ - ~ f, Y I . L ~ ~.... -.: ' . ~ . ~.~_~....1 l hs .............. ,~ I . e \~ 1 ~ !{ ~ i ~ i f t ~~ .~ 1 I. c i 1 I a ' .t Jt~ Iw..+ ..s ~' ~ .~ 1 T` w .. ~ i •~L ~'~" ~7~ .w .r w... 1 W '1 O ..~..~.. ... ....~ .... _... / 1 Trr `7 ~ I m ~ '~ I. i' I ~ ~' ~~~ f-a...l. Ors+~t i --- ~-y - I ~ i ~ ~~ 1 ~~ T i-• 1 1 ~ i R ~ I 1` ~ ~ ~' ~ ~ ~~ i ~ ~ ~ ~ ~ ~ i * _~~. q+~ Fir-r/ •~« rR. ~ - ' 1 ~ .. .. FLOOR PLAN . ~ ~: . •. ~ , - ~ , ~~ • •~; 4 `• • ~ ~ .~.. ~ . •' '~ ~' Y ' 1~ y ~i "~•` ~3 f~ ' - _ ~,' ,~~ ? 'r ~ ~~ ~~; t: , ~ , .. ~ ~~. .- i .~ `..I ' ~~ ~~~ ....~ ~~ a ~~ j I ~ ~. l ~ ~ 3 `~~ r t ~~, T' V1t • ~ -~ ~ ~ ` • ~.yf ~R „~ #i ~ ~ ~ i ~ i f ' ~_ .. ~~ {- .•~ - ~ ~ ~ ~ ` \ ~ .. _ F • ~ ~ s s ~~ i 7216 So. Figueroa Suter, Gardena, CA 90248 • Phone (310) 225.3070 • Fax (310) 225-3073 ..~ '~ v _ - EmplormentTrainin~ • Corrununit~- Enoerprise • Small Business Necwor~ Services s°>7~ °r , Dircttors: April 22, 1998 . HdM° st~,`'.~ ~~~ Mr. Ismael Mayans ~~~a o=~..~t~,«, Mayans Development ~~~~ 8041 E. Florence Ave., Suite 207 • ,o~,w,~ ~.,o„ Downey, CA 90240 SeQetory ~~~~= o~w, Dear Ismael: ;,~~„~, su3~7 at° This fetter serves as a follow-up to the conversation we had regarding the ~r~~~7 ~urrr involvement of CCEO's Yout#tbuild program with your housing ,~,e, ~„o development in the City of Lynwood. The following is a brief description of _ `~"' K'~E ~~~ how CCEO would implement a 12 month Youthbuild program to serve 15 young people who reside in the City of Lynwood: ,~3,~ ~,,a,~.Z '~Crne~~ o~,~, 1. Program participants would be between the ages Of 18 and 24 years of J7rv(. S.+e.n•r ~ age and comply with the .Program's 'at-risk" conditions; income level is " low to very low' income fam1ies, high school drop out, other circumstances that. place individual "at-risk'--substance abuse, gang affiiiation, single parent, etc. 2. The Youthbuild program would consist of 2 months of recruitment and outreach, 7 months of training and 3 months of follow-up and job. placement 3. Training stipends of approximately 5500.00 per month will be provided to Youthbuild participants. 4. Of the. f5 young. people recruited, 40 will graduate; i.e. successfully complete the program by securing. full-time employment or returning to school as a ful!-time student. 5. Program components of leadership development, academic instruction, case management, vocational education, on-site construction training and community service would follow Youthbuild curriculum and design. 6. The academic instruction component would enable the Youthbuild participants to secure a high school diploma. (CCEO is a satellite of the CATO School of Reason, a California Charter School.) Alt . educationeF materials and some of the computers would be provided by CATO. 7. The Youthbuild participants would be divided into two t eams; .each team alternating between the training facility one week and the construction site. _ ~~ , • y, • _ , 8. The construction sibs will have two construction trainers a ' volunteer to s nd one upervise the trainees. Please call' me so that we can discuss this matter further. Since ~ ~ Andrew G. Delgado/ l _ f:uaerstiapolrrwwlrnayans2 f :~ f $- ATTENT-•1~ON.. CO1~~IMERCE RESIDENTS 18 - 24 ~ycars-of age The City of Commerce Employment Referral Office Community Development Department logetlfer.nttl the MAYANS DEVELOPMENT P~ !! H~ .The "YrnrthBrrild"program was deve/oprd to reach young odults between the ages of 18-h! 10 provide air oppornurin~ Jor training in the co~tstruction fteld for atp to one year. The only recliriremenu are a ivilli»gness to learn and a commitment to rebuild their livtes and strrroturding commrnttty. There is also the opportunity to Coke a high school egrrivalence examination. . - ./a~dines de Bristow De ve/opment . is the corrstrrrctiorr of 12 new homes Gird housing rrhabiliurtion in the- rteighbarirrg community. Paruciparrrs rill recrivr; classroom instruction artd field .training during the constnrctiu» of these nary • homes while receiving o monthly traii»nR stipend Assistance with joh placemeru wit! be provided. oncr the program is completed. ' Interested applicants must contact the EMPLOY1VIEr1T REFERRAL OFFICE at • (2I3) 887-4460 • '1 outhHuild is tvndcd b~• the L~.S, Depannxrn of Ila-sin~ anJ L~rHan Acvclupment. Corporation fnr Alatiotnl Si:rria (~areri~~orpu) and the lames urine Forrrrdatior • • 0 ABELL=HELOU Builders- Developers 140 West Orange Street Covina, Ca. 91723 0 0 . ~ • .. J;; .a 1 ~ - ~- +{ ..~ `~ h . S" ~. ~~' ~ -- S? ~, ~ ' . \. ~., ~ \ . '~~ ~ t,. , ~, .- .'~~ --~ ,L~ . ` ~ ~` \~ ~ ,^_7`~ ~ ((( inn ~, _ ~_ -~, ~ G ~ ~ ~ ~ ~ ~~ ~ `~ ~. '~ C''1` ,' -, t. ~ , , `~ ~ ~ ~, .. ~ . ~Q ~, a, 6 . ~, ~ ~ mod. ~ ° ~, . E~~ _- ~. . ~~. ~ ~~.. 6 ~ . ~:~; ~ ~ .~.- ~ r . ~`~~ Q~ ._i t~ _. :; ~ 1J ~ ,,,•; ~ n. .. ~~ ?. !r ~~' • iC =!Jtid LF4t'-Sic,FiT8 Y,d~ NOldQ3Q-"1~3Hd ABELL-DEDMON FAX 818-915-489? PAGE-02 s 14~EL.~-~E.~OU Builders • Devdopero 1. LYNWOOD YOUTH PROGRAM We will offer job/training upportunitics to the youth of Lynwood through our { cooperation/participation in existing employment training programs in the City of Lynwood. The same type of progtanls ui which we have participated in the East San Gabriel Valley. ' . 2: ~ NUMBER OF HOMES 19 ,~ 3.. COST OF HOMES Construction + Offsites + Fees + Permits + Land + Financing = $82.00 Sq. Ft. 4. SALE-PRICE _ $155,000 to $160,000 Four Bedroom 2 ~/~ or 3 bath home _ 1 S00 Sq. Ft. to 16UU Sq. Ft. 5. LOCAL LABOR/CONTRACTOR USE PROGRAM Proactive program outlined iri our Yroforma. Similar to Section 3 Compliance `. plan we have used with the Community Development Commission of Los Angeles County 5. COIvwIUIJIT'Y INVOLVLMLN"1' .For Example Neighborhood, T.ocal Churc;he5, Local Newspapers, Post Bulletins (School, Chamber of Commerce, City Hall, Ltc.) Job Links Program & others 6. MARKETING AND AFFO.ttt)AATLITY • -Home buyer educational' program • Home ownership program, LA C~wity • Affordable Housing Program ~~ ~ `• City of Industry Funds.Assistance, L.A C'ounty ' . Mortgage Credit Certificate or Bond Financing FHA, VA, FNMA, FKMA~, • 2-10 Home Protection proval and DRL A -HUD A roval . . pp p 140 W. Orange Sheet, Covina, California 9..1723 (818) 915-7671 oPBce (618) 9I5-4897 fax ~ .. . QUALITY ~ ' ExTERIORS . ' - • ` :I11I~oxs • Endsaiag extaaor designs you vn71 be proud of ~ ' fnr years m ca®e •• Five Boar pis, designed far garacioas, • witac~ed Z-car garage with duct aoeess m imerior oam6artable Iivatg - ~ of home with raised paad steel set~aaal ~ aooa Re~ige~ted a;:-aao~amiag B~nas~l ~ ~ enay . - complaely covered f~ ~'",~' Ding ama , • concete driveway dad entry want . eleeat:oom iior ia5oo~at • Distincz;vt front door with latch sa dad dead bolt Lmaaioas is great tmm, dmiag area, for extra sccta~iry , ballarays, »rwsyt, aII bedroaa~t and • Rear anc side yard feadag for individual privacy ~ wae+dtnbes • .Solid cat, self-closing door between garage and Beautiful vinyl $ooriag is lauod:y area . - bane and all bathrooms • - Front yard sprinklers add lawn Decorator yght feoDtaes throughout . - • . Iadoar }avodty area far extra ooavenimoe. • Outside vent for gas drys . Mp-srnt S trrlE FEATURES Smoke detecdm system . •. , Perwi:ed for able TV dad telephone • Convenient dressing area 2S ~ • Spacious walk-in wardrobes • . Oalc pullmsos with ettlttt:ed marble ootattc tops • Dual. basins in master bedroom bath • . Glamaratts plate glsss mirrors over pttilmant - Pnvacv lock on door ' • Pt+~wired far alarm system . QUALITY. CONSTRUCTION nrm KITCHENS ENERGY EFFICIENT FEATURES • Spacious. open and light-filled • Energy-saving IIISUlaL10II I] CC1IingS and • Step-savingkitchen designed for easy cooking exterior walls to make your home - 8 cleaning • Gas range and oven with sealed. burners cooler in the SIIIIliIICr, warmer In the • Cooktop and built-in self-cleaning oven ~~ oak cabineu Deal pane windows throughtout • Encrgy-saving dishwasher All exterior doors are weather-stripped • !n-sink-orator disposal • ' ~~y.~~cient gas forced-air furnace • Water line. for refrigerator ice•maker with pilotless ignition - Single-lever faucet • Energy-saving heating control - Gas connection to dryer Energy-efficient 40-gallon gas water - - heater • Energy-saving dishwasher ABELL-HELOU BUILDERS DEVELOPERS s .`~ ALAN 1 Mi~Q aa~r I ~~"'"` Bod:oom Bodroom 2 D.iniag , ., Q ~"-~~' ~~ Bath I Bedroom 3 .~ ~ 2 ~ Kitc~m ~ t~a I L_~L_1 Rro ,, ~,~-~ ooas O O I~._J 1 Bcdroom 4 ~~ ~ 2 Car Gangc • 0 PLAN 2 ' � �t. tom,' ^� , 1 -. •-*. �_ � ,: - 1 � 'S► �j I :nlllillilli� ' �,Y tag Hui I• Fi i� �T- - i I -' ter` '. - _ `' •J Z f9 - - I' 'hlt ; �� ;' + ,�� � .. `,•,� emu- _ , . i ~. ., ., ..r l =~ ®, ~ Z w D m r- m r O C c rr: -~ z r 1 4 t - • a .~% . ~. :~. ,_ ~ .i r _ •1 ~• -1. t' '+ t~.. ~~ - c • ,T' a+~ '~~ f•~ ~La,,. . ~~, :. .~t -i i -;,~ ~~ ~3_ _ - `Y F 1 ~~ ~~ Iii/ i~ly = •--_ ~ ~) ~ I ~ i ~~ ~'Yf`~iis_a ,I~ I~c, l` ~ ~~ ~- ~ ~~1~ ..,. _s - ~. f~_t ~ ~•~~a'~_ ~ _~ ,\~ ~,.~~-~ .' •~ ; b ``~~i~~r t ,.~ ~. ~ •~ d Y. ~ , t~ .~ Iy ~~= •• J . i 1 x .- ` 1 ~~ . ' ..1 ~' - . : J . . .. ~ ~ :L :.+_ f, .}~*~ ; ~ ^~.' ,: 1 _I.. s `* . 'w~W ..~':. Y ,~ ~:.' •ry, ~ .~.~ +R ... r j ~ r ~ ~ r. f .. - i W - ~~ . . Our Marketing DeParnaeat offers a full specn~ of services; iacludiag Lead Acquisido~, . Fratitlemeats, Fiaaaciag, Home-buyer's Educatiam Prograa:;, Sales. sad Gamma Service. Ota personnel have years of wads-on expertise, battle-tested through a variety of 1 vmttats. his along with our uadesstanding of thr market place, advertising and marketing campaigns, have enabled us to evaluate each property as to its highest productive use.. Our well-rounded approach to marketing allows us to build.the right project is strategic locations at . . market- sensitive prices. In the last few years, we have paid special attention to thz needs of low and moderate income home- buyers. For many' individuals,: owning their own home is ~e Aerericros alnaat. It can become a reality, but not. without realistic goals, sound advise. careful plaaamg, sad a clear uaderstaading of the costs involved. The more. the person knows about home ownership, the better able he err she will be able to reach their goal. W~e offer aHome-buyer Educational Program through Famue Mae, H.U.D. guideline: 1. Preparing For Home ownership . . _ ~. Shopping For a Homer - 3. Obtaining a Mortgage 4. Closing 5. Life As a Homeowner 6. Your New Home & How to take care of it. To Further assist the potential home-buyers with their pre-application, application, closing, and move-in process, many of our highly trained staff are fluent in Spanish and other languages. Our years in the Real Estate Industry have enabled us to develop str+nng relationships with lenders, banks, title companies, escrow companies, newspaper publications,. suppliers, media, and others who are . :racial to a smooth-running'opcration. EQUAL HOUSING OPPOR'NNIIY For all prospective individuals regardless of racx, color, religion, sex, disability, familial status, or national origin. ABELL-HELOU sut~ERS ot:vEt.oP~s - Ij ~j. f i ~f :; .~ ," - ~ . 't " '. s ~. a QUALIFYING PROSPECTIVE BUYERS .Low-to-moderate income buyers We-will offer a Four Step Guide to Home Owaaship program: . Srep 1: -show how fast-time home buyers and low-to-moderate income hot~selsolds c~aa stretch their . borrowing power with a variety of 5manciag options and flexible leading programs tailored . specifically for law-to-moderate income buyers; • • . ' Srep ?: Explain how to go about obtaining a mortgage. We'begia by loo~dag at the•loan application process itseli~ including what to expecrfrom a loan interview and the.procedtaes leaders follow in determining whether or not to approval a loan; .. Srep 3: Look at what needs to happen is the final weeks before closing- szach as the title search, a survey of the property, sad the buyer's final walk-thr+ottgh iaspecdoa We they explain what fife . borrower can expect on the closing. day, including the signing of documents and the payment of closing cosu. We also explain each of the costs that normally are paid by the buyer at dosing;- and fuially, Srep ~ turn to the subject of home maintenance and explain what musC be done to keep the home in good " condition from season to season, what energy conservation measures can be takes to reduce the " cosu of maintaining a home, and how to laadle home repairs-from do-it yourself jobs to major . rehabilitation. This step closes with some guidelines on the importance of household budgeting and a discussion of the financial responsibilities and benefiu that come with home ownership. lipoti completion of the fora step guide to borne ownership program each participant will receive a Lender .Certification Letter sad a Certificate of Achievement These documeau evidence completion of . an educational program. In addition. they evidence completion of a necessary program which enables the attendee to participate in nay of the Community Home-buyer programs. offered through FaanieMae., F.H.p-. and V.A. ]n the event, after attending the workshop and completing the v~rorkshe~, as individual or family realizes " that they will not qualify or that they are not ready for home ownership their time will not have been r wasted. Each person, regardless of whether they uttimately ptazhase one of the homes, will gain greater insight into their home ptuchasing abilities and will receive valuable guidance toward the end of e~~cntually purchasing their own home. To further assist the potential home-buyers with theirpre-application, application, closing. and move-in process, many ofour-highly trained staff are fluent is Spanish sad. other languages. Ora escrow officer . ~ sad title officer will always be readily available to help explain the complex closing docttmeat. Ia . addition we have in-house legal counsel to address the out-of-the-ondiaary questions sad concerns. . Ftirthcr, wa will provide a toll free customer service number to answer nay questions aHome-buyer may have after the closing. - Our teats of professionals are second to none sad will provide for as extremely smooth traasitioa process . ~ for those. persons going from being home shoppers to home owners. In addition, tha Commission wfll enjoy. the benefits of wgrking with a team who has the demonstrated abilityto provide stars-key project . which will clearly satisfy all expectations. Ai your request we can provide a copy ofour four step guide to :home ownership program for your review and we thank you for your attention. ABELL-HELOU sc,rB.nFxs n~vno>~xs ~: s ~}; - - .~ ~, _ .~ ~~, ., ~~. . :~- ',,, ~: '•-.. o .PROJECT APPROVAL Department of Reif Estate (D.R..E.). U.S. Dept of Housing and Urban Devdop~mt (H.U.D.). ~ F.N.MA/FRMAC Approval ABELL-HELOU will process and apply for project approval from; . • D.R..E. (pink & white report) To enable us to sell the ),owes. ~ - ~ . • H.U.D. to cnable _~ to provide H.U.D. Financing (F-H-A• & VA.) . F.Ir.MA. to enable us to provide conventional $nancing • We process the application to approve flee derti restriction on the Secondary Financing by , Ha.D. & F.N.M.AIFRMAC • rcdcral Home Loan.. Banl: for the Affordable Housing Pro .For additional subsi . .-10 Home Protection policy (10 year structtua) waitanry) - ~ 11 .. . . .- .. ~, ~• • ~ .- , g ~diAR~~TIIVG STRATEGY - . PROD Location] profile within 3 miles of the Subject/property. . Comparable Sales, Map, Nearby Neighbors List, Plat Map, Local Area Services, Demographics C01v~ARABLE sALES MAP 1~ARBY AI~IGI~IDORS LLST OEMOGitAPiflCS tocAi. AREA stxvica P1.Ar MAP . Property charactehstia, • sale puce, loan amount, • square footage, toi size • .number of bedrooms. -number of bathrooms, ~~ and year built, Comps, school, hospital, church, shopping, fire. library, Police. parks . - - community center. and freeways To be .contacted and. ,: , , explained . subjectlproject Census tract, total population. population . profile; solid-economic .profile, and housing . - P~~ • T7iis approach. to marketing eaables us to build the right project in strategic locations to fit aspecific dcmograpluc .(Design, Size, Feaaa~es, Financing, .Price, Marketing). r = • i~ ~ • ~ - . ADVERTTSD~IG / MERCHATIDLSDVG METHODS • a Production schedtile based the consavcdaa schedule dt Models lesion. ~ ~ GRAND OPENING • We provide food, ~ balloons, and entartamment for everyone to enjoy - we will also cotuact the local high school band to see if they would be interested in playing at our event. The, heaviest. emphasis of print advertising be geared around this ~ RADIO REMOTE - If the budget will allow, the day of the Grand Opening, the station will appeal . . to our targeted buyer demographic profile. May have on-air-persaaaliry at our site giyiag awry prizes, etc. PRE - .SELLING -Out of a sales trailer . ~ . ' Communication ~ . • Temporary brochure - • Permanent brochure .' - • Rcndcrings (floor plans, elevations, sits plan) • Area Map • Features List , Directional Attention • Sales information sign _- Signage (attractive & effective side complementing thr project, both onsite & of1^site) ' • Flags Bootlegs / Directional Signs (to create more tra$tc will be to rasp out a .bootleg program . for the community) ' Multiple ~ -' ~ Service (MLS) /Local Board of Realtors • Human'billboard /Directional AD PRODUCTION - Oa the average,. we produce a new ad every 2 months to keep up iaterest in - the project and to adapt to its timing sad other needs. Ads being placed in: LA. Opinion, China Post, Asian Journal, LA. Times, Peaay Save, Real Estate Source, Tribune, Whittier Daily . - News, Thomson News Group, Pico Rivera News, and So. East Cities Tribune. PRESS RELEASE'S -topic include: Ground Breaking, Framing, Preview Opening, Grand . Opening, Etc: . LOCAL AREA SERVICES /SOCIAL ORGANIZATIONS -Non-profit organizations, churches • , ~ schools, hospitals,. business, sad social organizations have monthly newsletters that we can . advertise in. We also recommend setting•up a referral program for every member that buys a house, we would donate 5500.00 to the Organization. . DIRECT MAIL /COLD CALL - Saturating a particular area to low to moderate .income individuals through rentals (aparomeau, homes, mobile home-parks, churches, social orgaiazation, etc.) . ABELL-HELOU svangts nEVZZ.o~xs .:.. _ ~. . ; ,. .. ~ - ... ., • • DATE: AUGUST 18, 1998 TO: HONORABLE CHAIRMAN AND MEMBERS OF THE AGENCY FROM: Ralph Davis, Interim Executive Director BY: Gary Chicots, Director Community elo e Louis Morales, Associate Planner; L~ ~G :Subject: DEVELOPMENT. CONCEPT- ~IEW=OF A'PROPOSAL TO _ DEVELOP AN INDUSTRIAL BUILDING ON A PORTION OF THE FORMER WESTEC GEAR PROPERTY. Purpose: - To have the Agency review the development concept of a .proposal submitted by Sares Regis Group (the "Developer") for the development of a 324,394 sq. ft. industrial building.. AG~1`1DA I TEI~ Facts: 1. On June 4, 1.998, the .Developer submitted a site plan to staff to be , reviewed and processed through Site Plan Review process. The subject 'site has a zoning classification of Manufacturing and General Plan designation of Industrial. Minimum code requirement for all new development proposed in the Manufacturing Zone is to obtain approval through Site Plan. Review. 2. ,The Subject Site is located within the Alameda Redevelopment Project Area (See attached Redevelopment Map). The Alameda Project Area was adopted. in conformity with the Lynwood General Plan and was adopted with the intent to .pursue and encourage industrial development throughout the project area. 3. Any buildings proposed within. either Redevelopment Project Area of the Agency shall be subject to the review and approval of the Agency. The development concept or design review shall consist of the review of the building size. and type, landscaping, site and sign plans. Given that the goals for Alameda Project Area are for the development of industrial uses, the proposed development concept for development of an industrial building shall be reviewed within the framework. of the Industrial Development Standards of the City of Lynwood. 4. The proposed development calls for the construction of a 324.394 sq. ft. .industrial/warehouse type building. The type of building and potential uses ypcally associated with. this type of building are permitted under the Lynwood General Plan, the zoning designation, and will fall within the goals of the Alameda Project Plan. 5. At the July 7, 1998, Agency meeting, the Agency continued this item as questions regarding, a specific tenant for the proposal was raised. 6. An Owner Participation Agreement ("OPA") between the Agency and the .Developer would provide the Agency with the opportunity to work with the Developer on the tenant selection for the project. . The Developer proposes to construct a 324,394 sq. ft. industrial/warehouse type building which will include a 4,000 sq. ft. office. The building as .proposed will be of tilt-up concrete construction and will have approximately eighty-one (81) truck • bays. The Developer is providing sufficient parking for the proposed use per node standards and will have adequate landscaping incorporated throughout the site, The Developer recently closed escrow and has taken title to the property. , The Developer is not seeking any financial assistant from the Agency and is pursuing the project as a privatedevelopment to be~built on speculation. Thus, the proposed project is not an unsolicited proposal and wilt be built without any cost to the Agency. In the event that an OPA is pursued by the Agency, the Agency-may be asked by the Developer to financially participate in the project in exchange for the Agency's participation. . The. Developer has developed or purchased over $452 million of real estate since 1994. The Developer feels that given the location of the site that a ;distribution tenant or a manufacturer tenant (s) would be secured prior to the completion of construction (See attached .letter, Company profile, ,and list of projects). During the construction of the proposed project, the Developer will be marketing the site and the proposed improvements to the industrial community in a manner that is typical #or these type of developments (See attached marketing brochure samples). The proposed use is compatible use within the predominately industrial area of the City and is consistent with the Alameda ..Project Area Plan. The proposed site was previously used as a storage yard by Westec and was not generating much tax increment. The Developer acquired the site and subdivided the property to accommodate the proposed development. The Agency .now has the opportunity to review and approve the development concept that will result in the illumination of blight and the generation of tax increment which in turn may foster the development of other industrial buildings and/or industrial parks in the immediate area: Recommendation: Staff respectfully requests that after consideration, the Agency approve the development concept and allow the Developer to pursue the project through the • Site Plan Review process of the City and .provide periodic updates to the Agency relative to the tenant(s) for the project . H:word/redevel p/I morales/srgcn cp:stf :~'~ ~ Q C7 ~ ~ ~ ~ -~ ~ ~ ~ ~ -< ~ O ~ ~ Z ~/,,,-~'-' ~ O ~~ ~~ ~'~o . mil/ ~ '~'~ l .,~~ .___~~' > .. ~~; ~~ /~~ ~ P~ ~ / /~^~ l~ ~~ ~~ ~ ~ tom- = ; , :., ;'~' ' ~ ~" ~ ~' ( -n ,; =,I; ,. ~~ ~- -'I ~~~~ -~i .; ,: ,, -~~ i b. ,, ~~ m 'r R1 ~. r m ~ a~ r m, ~ m m Z -i ,., m ~ ~. ~z ~. m n ^ •S ; .. ,. m ~ n 1 -~ ~~ ~ ~~IS Group® July 10; 1998 s Mr. Louis Morales City of Lynwood 1133Q Bullis Road L}mwood, California 90262 Dear Mr. Morales: It was a pleasure speaking to you today. At your request, I have included some information on $ARES•REGIS Group. Please note on the SRG Track Record that we have either developed or _ ' purchased over $452 million of real estate since 1994. Our company typically joins forces with a large financial institution. or pension fund advisor in the acquisition of development ofthe properties. I have also included a few brochures of some ofthe recent development projects we have completed. With regard to our proposed development in Lynwood, we have designed a 323,000 square foot ~~•archouse and manufacturing facility_ We currently do not have a tenant for the property,'but are confident that due to the strategic freeway location and lack of available competitive projects we kill be successful in attracting a tenant to this location. We believe that a lease will be signed with a new tenant prior to the completion. of construction. The building is designed to accommodate both a distribution tenant or a manufacturer. We have completed a few projects similar to this, in that we proceeded with construction without a tenant committed to the building. In Ontario, California, SRG developed two buildings of 410,000 square :feet each. One is now leased to DAL Tile, the largest manufacturer ofthe in the U.S. The other facility is leased to California Hardware, one of the largest distributors of hardware products on the west coast. Another property to note is in Huntington Beach, Califonia (see brochure - Wcst County Commerce Center). This project is comprised of three buildings. We purchased the property with one existing building (Bldg. A) and developed the other two (Bldgs. B & C). The existing building A was vacant upon purchase and has been leased within 8 months of our . acquisition date. I .hope this information is helpful. We thank you for your support and look forward to your - approval. Please call me if I can provide you with any information. - Sincerely, {. ~~~ '> ~~ . Bruce C. Bearer S,cnior Vice President -Development BCB:cII _ ti 1' R r1 T L' Gd C ALLIANCES 1 N REAL ESTATE S E R V tC ES I ~tiS02 BAKDEEN AVE., IRVINE, CA 92612-1521 (949) 756-5959 FAX (949) 756-5955 j - ~ ti~ '~~. - • .j. . ~ - .>i. - 'ai ;{ - ~(; t1: 1~ • - ) :, `f o ,, ~ ~ - ~ ~ ~ K - %~/ • SRG TRACK RECORD Commercial Acquisitions%Development 1994 - 1998 • ® Square Gross s Year Property Name Location Aca./Dcv. Footaee Value ' 1994 Rcywest Portfolio ,Phoenix, AZ A 528,000 $16,500,000 Polk Sh~cct Phoenix, AL A 91,000 2,093,000 IICEA Distribution Center Ontario, CA A 400,000 11;200,000 ' Homcbase Distribution Center Cuaunonga, CA A 410,000 10,250,000 Champagne Warehouse Ontario, CA A 158,000 4,424,000 McInnes Phase III Oxnard, CA D 104,000 4,160,000. Cranford Portfolio Arleta, CA A 90,000 2.340,000 " Totul l')94 Tr:ursactiunsi 1,781,111111 $811,967,0(10 199 Watkins I'hocnix, /~L A 90,000 $2,340,000 Point West. Saaamcnto> CA A 169,000 17,745,000 - White Birch Cucamonga, CA A 180,000 4,860,000. Sportmart I'ontan<r, CA A 203,000 5,075,000 Pomona Pomona, CA A 357.000 9,996,000 Total 1>9~ Transactions: 999,000 $40;016,000 1996 Southbay Portfolio Compton, CA A 1,800,000 $72,000,000 Ontario Phase I Ontario, CA D 410,000 12,300,000 Rcywest Bldg. 38 Phoenix, AZ A 208 000 5,408,000 Tota11996 Transactions: 2,418,000 $89,708,000 19')7 "f RS"I' Poiltolio Or:urgc County, CA A 913,000 $35,500,000 Wesi County Commerce Ch. Phase I F funtington Beach, CA D 426,000 17,040,000 Ontario Phase lI {)ntario. CA D 410,000 11,890,000` McInnes Phase IV Ovratd, CA D ?81,000 11,200,000 TfiriRy Building Ontario, CA A 446,000 12,000,000 " Ontario Center Ontario, CA D 252 Acres 10,000,000 Homestead 1-Iouse An;nc~im, CA A 406.000 15,800,000 . Total 1997 Transactions: 2.882,000 $113,430.000 ' 1998 GM Delco Santa 13ai barn, CA A 306,000 $26,000,000 Orange County Business Center Sruna Ana, CA A 430,000 46,000,000 West County Commerce Ctr. Phase II I-luntington Bc:1ch, CA D ~ 230,000 13,800,000 Tfie Mart Anahcirn, CA A 180,000 13,250,000 Lynwood Distribution Lynwood, CA D 325,000 12,000,000 Azusa Distribution* Azusa, CA D 325,000 12,000,000 Derlan Industries* Santa Ana, CA A 280,000 15,000,000 FiTSt Ametican* Oxnard, CA D 40,000 5,000,000 Redhill TechnologyCenter* Santo nna, CA D 100,000 15,000,000 . YTD 1998 Tr:ursactions: 2,2:16,000 $158.050,000 Tohil Transactions 1994 - 1998: 10,296,000 $452,171,000 *Propertics in escrovvand scheduled to close d uring the 3rd Quarter of 1998. s ;f ;,. ,~? , ~~ .~' . ;- } ~> t? ~• . •. • - • SRG TRACK RECORD Comme>t•cial Acquisitions/Development 1994 -1998 . Square Gross Year Property Name Location Acp./Dev. Footaee Value s •1994 ReywestPortfolio Phoenix; AZ A 528,000. $16,500,000 ' Polk Street Phoenix, AZ A 91,000 2,093,000 , IICEA Distribution Center Ontario, CA A 400,000 11,200,000 Homebase Distribution Center Cucamonga, CA A 410,000 10,250,000 Champagne Warehouse Ontario, CA A 158,000- 4,424,000 McInnes Phase III Oxnard, CA D 104,000 .4,160,000 Crardord Portfolio Arleta, CA A 90.000 2.340.000 - - Total 1994 Transactiats: 1,781,000 $50,967;000 1995 Watkins 1'hocnix, AZ A 90,000 $2,340,000 Point West Saer:unento, CA A 169,000 17,745;000 White Birch Cucamonga, CA A 180,000 4,860,000 Sportmar•t Fontana, CA A 203,000 5,075,000 Pomona Pomonii, CA A 357.000 9.996.000 Total 1995 Tr.ins:,ctions: 999,000 • $40,016,000 1996 Southbay 1'ortColio Compton, CA A 1,800,000 $72,000,000 Ontario Phase I Ontario, CA D 410,000 12,300,000 Rcywest Bldg. 28 1'hocnix, AZ A X08.000 5.408.000 Tota11996 Transactions: 2,418,000 $89,708,000 1997 TRST Portfolio ~ Orange County, CA A 913,000 $35;500;000 West County Conunerce Ctr. Phase I I-Iuntington Beach, CA D 426,000. 17,040,000 Ontario Phase II ~ ~ Ont:uio, CA D 410,000 11,890,000 . McInncs Phase IV Oxnard, CA D 281,000 11,200,000 Thrifty Building Ontario, CA A 446,000 12,000,000 ' Ontario Ccntcr Ontario, CA D 252 Acres 10,000,000 . Homestead House Anaheim, CA A 406 000 15.800,000 ' Totaf 1997 Transactions: 2,882,000 $113,430,000 1998 GM Delco Santa.Barbura, CA A 306,000 $26;000,000 ` Orange County Business Center Santa Ana, CA A 430,000 46,000,000 . West County Commerce Ctr. Phase II 1-luntington Deaeh, CA D 230,000 13,800,000 The Mart An;ihcim; CA A 180,000 13,250,000 Lymvood Distribution Lynwood, CA D 325,000 12,000,000 Azusa Distribution* Azusa; C/A D 325,000. 12,000,000 Dcrlan Industries* Santa Ana, CA A 280,000 15,000,000 FirstAmerican• Oznard,CA D 40,000 5,000,000 RedhilF Technology Ccntcr* Same An::, CA D 100,000 15,000,000 ' YTD 1998 Transactions: 2,216,000 $158.050,000 Tuh.,l Tr:u,sactiuus U'la - 19')ti: 10,296,0110 $452,171,000 *Properties in escrow and scheduled to close'd uring the 3rd Quarter of 1998. . - <i: ii ~' •{, .. , ,~ ;~. ,. . `~ i ,~ s Si~nificarrtlt~ '.irr,~rr¢rrvl profitability with - _ ~ 'rlC'r'essrne(irnpcrty nrrrrrasemertt - a oja 520 unk. - Gr.rrn7~ npartnrertt prnperry owned. by .r rnrl r.ct,rtr rurat~t~nrnr rrrrsr. !(hued oicup,rrrry Burl retrenrre. of a G~0,000 sy. f. rrrarl rrntrr on ~ir:r~alfojun innitu- tional inaertor. San Jou, CA l d 1 000 ~ ~ ~ ( ~ u'~ np ete 8, ~ ( . e~ ' ~ ; ~. con-e~ective ' .. - rnurru rnrprovemenn ~~~~~~ ~~ ro exacting, high- ~ '+ rrhde reyuiiemrntr ~..> : nJ',rn ore building " y trnarrt and owns. ' .._... Newport Beach, CA . PROPERTY MANAGfM'E~N'T -. SARES•REGIS has broad experience in management of both residential. and commercial property. SARES•REGIS is one of the industry's premier property management and property services organizations. We manage and lease all types of real estate, including warehouses, office buildings, shopping. ` centersantl multi-family properties, from individual buildings to large portfolios, and from single-story to mufti-story, mixed-use developments. We operate more than $1.5 billion in assets for our ownaccountand on behalf of some of the largest and most ' respected institutional investors; corpora- Lions, and private trusts. In the difficult market conditions of the early 1990's, our project occupancy rate in all product types consistently outperformed market averages. Broad. internal capabilities. The. SARES•REGIS internal construction division has a reputation for planning, budgeting and executing-high quality tenant and capital improvements at the lowest possible cost. The SARES•REGIS scope of services also includes special assignments such as property re-positioning, project renovation, receiverships, and value- enhancement management programs. Our owner's perspective often prompts new ideas and resources that benefit our clients and partners. The SARES•REGIS Tenant Environmental Audit program provides investors with an extra measure of environ- mental monitoring over tenant activities, without. imposing additional. liability risk. Proven expertise.and pertormance. Our property management. success is based on .proven expertise in maximizing investment.performance, even in unstable market conditions. Clients have come to rely onus for both the day-to-day adjust- ments that make an aggregate: improvement in profitability, as.welt as the long-term recommendations that can yield significantly higher value. Top.professional staff. The• SARES•REGIS staff is comprised of top profesSionals•in their respective fields, including certified specialists in landscap- ing, horticulture, roofing, architecture, engineering and related disciplines. We maintain the highest credentials, including individuals who are Certified Property Managers (CPM) and Certified Commercial investmenT Managers (CCIM), and have created an extensive, internal training. program to further enhance our employees' skills and motivation.. Our property manage- ment group is a designated Accredited Management Organization (AMO) by the Institute of Real Estate Management: Implemenud condominium conversion and sales program of325-unit apastmentPrbP~' on behalf of a partnership. Dana Point, CA iNewport Beach, CA is s' Builr and manage a 770-unit apartment community on hehalf of a publicly ryhdicdtrd real estate fund. Developed 87single ~Jamily homes- 19 utrits per ' acre, which sold rluirkly~-on behalf o%;rparurrrship. Comtructed an award-winning 384-unit apartmrnr property rwo months ahead of rchrdu/r and 11 percent under budget far a Completed develop- mntt mattagemrnt including market rereareh, eonrtruc- lion, TI's and mar- keting ofa 300,000 sq. fr. mixed use property on behalf of an institutional investor. Bedminatet, NJ Senn Clan; CA Irvine, CA SARES•REGIS is distin deue[opment experience. guished by its many years of hands-on , Corporations, institutional investors and ~ Highest quality results. The Innovative marketing; Our innovative property owners have found that our SARES•REGIS value-engineering approach lifestyle marketing.and aggressive apartment internal ability to build or augmeht real estate .improvements; from concept through captures maximum value for each property's market niche We utilize a Critical P th .rental programs have won numerous awards . completion, is crucial to implementing many i . a Method of computerized project tracking to while keeping our properties a step ahead of the competition. Our sales and marketing nvestment strategies. help ensure successful deadline planning results consistently outperform the Experience in all property types.. and timely completion anlj occupancy. Our reporting system offers clients a process for competition, even. in difficult markets. SARES•REG1S has develo ed more than P $2 billion in real estate Our team has earn d quick review of cost-effectiveness in We understand the apartment renter, the . e a reputation as a respected full-service procuring labor, materials and equipment, and provides precise monthly job home buyer and the corporate tenant, and - draw on our ongoing market research to general contractor;.developerend construction manager for a wide accounting reports and daily cost accounting updates Because of oursuccess in build structures that remain attractive to range of commercial, industrial and . delivering the highest quality vrhile customers and profitable to owners for years to come residential properties, both single-family maintaining tight budget controis, we are . - and multi-family. frequently able to complete a construction projecCahead of schedule and under budget. . - SARES•REGIS is a~major investment advisor in the .Western. United States. s _ _ ..__ _ ........_............_ .. -_ ............... - Regional focus rlnr fnroic nn thn m~inr .. - Since 1975, SARES•REGIS has invested Western mai more than $2.3 billion. on-behalf of our market intell clients and partners. We advise both taxable .diligence am and tax-exempt institutional investors in the active oh a c identification, acquisition, management and represented . disposition.of commercial and residential .leasing and i ;properties: - analyzing ins responding t The SARES~REGIS investment philosophy or implemen ;is to provide aggressive, innovative, and management ' ongoing value enhancement fora variety of . commercial properties, apartments and raw Property sF land in a select set of major markets jn .the SARES•REGt Western United. States. multi-family with. special r Value enhancement. We have a and iand dev demonstrated ability in identifying value- disposition. l ~rihancement opportunities and in maximiz_ Properties an ing that value and appreciation for investors. warehouses, Our internal management, leasing and centers,. aparl construction capabilities are market leaders thousands of aril oro~.~rue r.he quality and cost efficiency to maximiz-=;.rnvestment returns. By operating properti?s vlm our own staff, we develop strong relationships with tenants and consistentty outperform the market in tenant retention rates. Acquirrd a 5-bui/d- in~ 620,000 sq. fr. industrial portfolio on behalfofa rorpo- rate investor. Investrd $/65 million in a gro- graphically diverse portfolio of industri- al proptrtier on behalfofa commin- Bled prnsion fund. Improved revrnue via intetuive rztmtal marketing and internalphysi- cal rehabilitation. programs fur a 301- unit apartmrnt property owned in partnership with an institutional lnvestar. Boulder, CO ~~ SARES•REGIS is one of the largest real estate firms in the Western United States. a We provide owners and investors with a comprehensive menu of property management, real estate development, and investment management services for commercial and residential assets. Since 1975, SARES•REGIS has acquired, developed, leased and managed properties that have .provided exceptional long-term economicreturns for their owners. Dur homes, apartments and commercial buildings are remarkable in architectural design and cost-efficient in operation and management. ' _ SARES•REGIS is owned by partners who actively manage the day-to-day operations of the company. Our business philosophy is driven by our owner's perspective and. is based upon along term view. We develop close relationships built on property .performance and personal integrity and trust. SARES•REGIS maintains' a high level of communication with its partners, clients and capital sources. The foundation of our organization is our highly-skilled and well-trained staff. We believe in honoring and rewarding our people for their dedication, cooperation and willingness to act creatively and prudently. Property management. Development. Investment management. From an owner's perspective. SARES•REGIS. ~. Re positioned and dispored ofa 15- building commercial real rstate portfolio on behalf of a private invertor. Iaguna Hills, CA Developed manage} -and own in partner- rhip a fully-leased 200,000 rq. ft.:o~sce building. sac[wrento, G Built a 128=unit luxury apartment community 10 perant.under budget and two montlsi ahead Hof rchedule on behalf of a parenerrhip. ' Thousand Oaks, CA :# Partial client list: . ' Aetna Realty Investors Irvine Apartment Communities AF Evans ITT Federal Bank Alfred P. Sloan foundation JP Morgan Investment Management Inc. The Boxer Trust Kodak 'Bank of America Marantha Title and Holding Company Bridge. Housing Corporation The MIT Retirement Plan - California Federal Montgomery County, MD Campbell Soup Moran & Company . Carnegie Corporation of NY N.E. Medical Center Hospitals Carpenters Trusts of W. Washington Nehemiah West Housing Corporation Castle & Cooke Homes Orange Housing Development Charles F: Kettering Foundation Corporation Citicorp Pacific First Bank CNA Insurance Companies PaineWebber Properties The. Commonwealth. Fund Prentiss Properties Realty Advisors Community National Corporation Principal Financial Group Compass Management & Leasing The Pritzker Family Interests Confederation Life Insurance Property Capital Associates Copley Real Estate Advisors The Skillman Foundation Duke University Stanford University . - First Nationwide Bank WeIIs Fargo Bank • The Ford Foundation Wesleyan University Glendale Federal Weyerhauser Guardian.:Life Insurance The World Bank Howard Hughes Medical Institution Yale University SA-RE S • REGIS .Group Headquarters: 18802 Bardeen Avenue, Irvine, CA 92715-1521 (714) 756-5959 Fax (714) 756-5955 Regional Offices:. San Francisco • San. Mateo • Uentura/Los Angeles San Diego • Sacramento • Seattle • Phoenix • Denver ~; #, 'i . !~ ,- s: is ~i~ i- it ~) F' ~.t. ' ~'~~~~~ ~Z,O ~ ~~ET :.. S QI IARE- ~ .• , } ' s • .- - : '; - !`~, BUILDING, FEATiJRES:" .. -• ,~,, • 30 : minimum clearance .. , • • ESFR sprinkler system ~ _ ~~ ` `~• • 21'2' concrete loading/staging apron ~ ~ ' • _ .~`. • Trailer parking for 52 trailers L.ee ~: ,~ .` • 1.8 (81 /2' x YO') dock hi,,}, doors, A550CI1 ~ L, ~ ~ "' ~ te5 r ::COMMERCIAL REAL ESTATE SERVICES • One f:1) 12' x 14'~.ground level- door _ :.. ~ '* -- ,. ~.. • 800 amp; 277/480 volt. service ' Por'addiuonal ulformauori,,please co~tact~' , . " j '' • 2-1/2% skylighting throughout _ JOE MCKAY - JEFF 51v~[Tx~,~: • 4 ply built up roof. _ •. ..: (909) .989.:7771:. (562) 699; J500 • Offices to suit' - >3s35 Inland Ezripire Blvd. ; ,- -' • ; . Ontario, CA 91:7.64 . • California Commerce Center location (Foreign Trade Zone 50-1) ~ . , -. Adjacent to Ontario International Airport - Within 1.5 miles of the 10," 15, and 60 Freeways = '.' • • ~ _ -) -l~ ~ ~ is ~ i i r~ . ,a;W ~~ i. ,¢ W i ;~ ~W i Q i j. J' _ _ _ --- --------=---------- -----~V~-AVENGE--- ---------- --- « N -J - -- -- ~ ~ ~ ~ ~ >> - CORPORATE NEIGHBORS: • Kraft IKEA • Michelin Tires Nestle • BMW of North America Nordstrom • .United Parcel Service ~ Baxter • Johnson- & Johnson Toyo Tires ONTARIO ' ~a INTERNATIONAf AIR PoR7 a m m d (~ y LaSalle St. E E ~ E ~ Juru _ Misslon0i a SITE o ~ 3 PoMONA F-- l60/ Fty Y hia St. N Lee & Associates f COMMERGAL REAL ESTATE SERVICES Developed and Managed by: For additional information, please contact: SARES •REGIS Group JOE MCKAY JEFF SMITH BRUCE BEARER (909) 989-7771 (562) 69:9-7500 Senior Marketing Director 3535 Inland Empire Blvd. (714) 756-5959 Ontario, CA 91764 18802 Bardeen Avenue, Irvine, CA 92612 Information contained herein .has been obtainedfrom the owner of the property or from other. sources that we deem reliable. We have no reason to doubt its accuracy, but we.do not guarantee it. - ~~ - - _ ~~, .. ~ - t~ - - ~: . ?~ -•c ~I , i} , r: " s ~~ i> ,t , .. _ ~t .. _,I i{3~ jEr' Inland Em ire Blvd. BEflNAflDINO ~ (10) EWY. Alr ort Dr. v ~' ;~ (714) 939-2100 ~ r CB COMMERCIAL REAL ESTATE GROUP, INC. tos ancE Es ~ Z4OO EAST KATELLA AVENUE, 7TH FLOOR I"T~ r ~r ANAHEIM, CALIFORNIA 92806 . AIRPORT ' r r ~ 1 1 . LONG eEACN A DEVELOPMENT OF: iuRPORT SARES •REGIS ~~~-~~~~~~ ~,,a,q^a ,, BRUCE BEARER , '~ SENIOR MARKETING DIRECTOR PACIFlCOCEAN (714) 756-5959 N . - .~~/ ,. ~~ WAYNE ' _ ~~ - (ORANGE COUNTY) _ AIRPORT - Map not to scale ~ ~ , - Thrin(ormalion above has been obtained from sources believedreliable. While wedo not doubL.its accuracy. we have not verified'Il and make noguaranlee, warranty or repiesenlation about IL Il Is your responsiblllty to Independently confirm its accu- racy and' cnmpleicnas. Any projections. opinion{. assumptions or estimates used are (or example only and do not reprarnl the current or future performance of the property. The value o(lhis lransadlon loyou depends onlae, and other factors which sh~nJJ 6c, c~aluated'bv your t:u. financialand Icgal advisors. You and your adviw~s should conduct a capful. independent Invistigalion of lhe~propeny lodelermine to your sallsfadlon the sullablHty of lhepfoperty (nryoui' needs. if %? ' - ;I ... - 2i' _. ~ ~ - ;~~ ,~. 1'i i:' - - ~ ~ ~t, ?f . >" . - `} a :~ COMMERCE CENTER 3 Building Complex Totaling 660,000 .Square Feet _ HUNTINGTON BEACH, CALIFORNIA ~; ;;~ -~C ri~`t- ~, ,,-'x 'r~i~ ?~; t r. c'~ y ` ~~~ - ;~w • r: - 10 Dock High Positions 14 Dock Hlgh Positions ;~ `_y . G?• ~Z. _~~ ~ ~ ~I N BUILDING B ~ ~ BUILDING C 81,120 SF U 152,360 SF :; ~ _F7: Future e Future ~~ 312' Office Office 586' ~ ~~ - ~~ ~ ~~~ _~' ' E `~ tv~s 62AHAM STREET . :~ T~ _Yi~4 u'r,+ `~x ~ y ?s- ;}