The Livermore City Council will consider development agreements for downtown projects at its July 22 meeting.
The meeting will be held in the City Council Chambers starting at 7 p.m.
The council will vote on whether to authorize execution of a Development Agreement (DA) with Presidio Companies, LLC to develop a boutique hotel on the southeast corner of South Livermore Avenue and Railroad Avenue.
At its July 8 meeting, the city council had voted unanimously to adopt a resolution authorizing staff to proceed with negotiating terms for a development agreement with Presidio.
Presidio is proposing to build a project described as a three-story, approximately 65,000 square foot, 125-135 room upscale-branded hotel. The hotel will include 1,400 to 2,000 square feet of conference space and a rooftop deck.
As proposed, the DA establishes a term of 30 years, beginning on the effective date. It includes a general performance schedule that includes completion of design entitlements by March 2020, building permit issuance by May 2021, and hotel opening by November 2022.
Staff anticipates bringing the revised hotel project and purchase and sale agreement back to the planning commission and city council in late summer and early fall, respectively.
Presidio requested a DA with the goal of providing certainty regarding land use and development standards. According to the City staff report, the DA would secure Presidio’s right to develop and use the property.
A second hearing at next Monday’s council meeting involves resolutions authorizing negotiation of DAs that include terms, permitted land uses, intensity of development, building heights, provisions for public uses, amenities, and performance schedules. The DAs would include Red Bear Property Management Inc. for commercial uses; Livermore Science and Society Center for a science and society center; Eden Housing for residential workforce housing; and Shakespeare’s Associates, Inc. for a black box theater. All would be developed between Railroad Avenue and L Street and Railroad Avenue and Veterans Way.
According to the staff report, the current initiative proposal threatens the significant investments made by the parties by generating uncertainty regarding the permitted land uses. Uncertainty would likely lead to difficulty securing funding for design, construction, and operations. The parties are requesting DAs with the intention to establish certainty regarding permitted land uses, and the development standards that will apply to their respective projects.