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REPORT ON A MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY MANAGER OF THE CITY OF CHULA VISTA AND THE CHIEF EXECUTIVE OFFICER OF THE HOMEFED CORPORATION REGARDING THE UNIVERSITY PARK AND INNOVATION DISTRICT
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RECOMMENDED ACTION
Recommended Action
No action required.
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SUMMARY
The report and attached memorandum of understanding between the City Manager and the Chief Executive Officer of the HomeFed Corporation is provided as an informational item to the City Council. The MOU outlines the progress of the negotiations and proposed business terms between the parties toward development of a Master Development Agreement for the University Campus and Innovation District.
ENVIRONMENTAL REVIEW
The Development Services Director has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that there is no possibility that the activity may have a significant effect on the environment because it involves only an information item with no action to be taken at this time; therefore, pursuant to Section 15061(b)(3) of the State CEQA Guidelines the activity is not subject to CEQA. The City Manager's execution of the MOU is also not an action subject to CEQA because the MOU reflects the status of negotiations on a project and is non-binding. Thus, no environmental review is necessary.
BOARD/COMMISSION RECOMMENDATION
Not applicable
DISCUSSION
In 2012, the City entered into an exclusive negotiating agreement (ENA) with the HomeFed Corporation to pursue negotiations for HomeFed to become the master developer of the University Campus and Innovation District properties. When considering development partners who are highly qualified to serve in the master developer capacity, City staff concluded that HomeFed is uniquely qualified to fill this role due to the following facts:
* HomeFed has been a significant landowner in Chula Vista for many years. The company owns approximately 2,800 ac...
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