A
key deadline in Yorba Linda's long-awaited Town Center project –
the “outside” date to close escrow on the sale of city-owned
properties to developer Zelman Retail Partners – has been pushed
back another six months, to March 31, 2016.
The new
date includes “a permissible 90-day extension request, if deemed
necessary, upon payment of a $50,000 extension deposit,” states a
report by Pam Stoker, the city's economic development manager.
Previous
delays were due to “changes to the scope and boundaries” of the
project, while the latest involves “required conditions to close
and protect the interests of both Zelman and the city,” Stoker
notes.
They
include securing tenant leases, obtaining financing, working with
architects to prepare detailed construction plans and acquiring
permits for site work, construction and utilities.
The
amended agreement also states the council sent owners of the
long-popular Pancake House notice to vacate the premises by March 15,
2016. Another report, presented to the Planning Commission last
month, notes the building “is proposed to remain” in the project.
That
report from principal planner Dave Brantley says “renovation plans
have not been formulated at this stage” for the building, but the
space “likely will be occupied by a sit-down type of restaurant.”
Brantley
notes, “the future design of building renovations will need to be
tailored to the specific restaurant operator's needs.” Once a new
tenant is identified, changes will require approval “to ensure that
the future re-design...is architecturally integrated into the
center.”
The
nearby two-story ERA real estate building, owned by Walt and Jean
Tamulinas, is not part of the project area and is permitted “to
continue to operate as it currently exists.”
But, if
the owners want to expand or modify the building in the future, the
plan “would be subject to design review approval and would be
required to be integrated into the overall architectural theme of the
center,” Brantley reports.
Interestingly,
an “economic expansion or growth” portion of an environmental
impact report states: “Given the project's relatively small size
in relation to the city population and work force, the economic
contribution of this project alone would not be considered
significant.”
While
the project will provide short-term construction jobs, it's
anticipated these employees would commute from elsewhere and not
relocate to the city for a temporary assignment.
However,
long-term full and part-time employment would be generated, and given
the city's 2.9 percent unemployment rate – about 1,000 individuals
– “some of the employment opportunities associated with the
project would be filled by current residents of the city.”
And “any
small increase in persons commuting from outside the area or
potentially relocating to the area may result in a corresponding
slight increase in demand for city goods and services.”