Title
CONSIDERATION OF APPROVING THE DEVELOPMENT AND OPERATION OF A CHULA VISTA BMW DEALERSHIP
RESOLUTION NO. 2015-289 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING AN OWNER PARTICIPATION AGREEMENT BETWEEN THE CITY AND SUNROAD BCV HOLDING, INC. OR AN AFFILIATE; MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH; AND AUTHORIZING THE EXECUTION AND IMPLEMENTATION OF SAID OWNER PARTICIPATION AGREEMENT
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RECOMMENDED ACTION
Recommended Action
Council conduct the public hearing and adopt the resolution.
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SUMMARY
This proposed Owner Participation Agreement ("Sunroad OPA") with Sunroad BCV Holding, Inc. or an affiliate (the "Participant") represents a significant milestone in the City's long-term efforts to innovatively and effectively plan for the City's unfolding auto park. The Sunroad OPA will guide the development of a proposed 3.85-acre BMW auto dealership consisting of a 28,038-square-foot building (showrooms, administrative offices, service area, etc.), and service reception area. BMW will be the first luxury auto dealership that will be built and operated as part of the City's Auto Park East and Auto Park North Specific Plans. The Sunroad OPA provides for the sale to the City of a twenty (20) year operating covenant, and the City's payment of the operating covenant purchase price of up to $3.3 million over that 20 year period.
ENVIRONMENTAL REVIEW
Environmental Notice
The environmental impacts of the Chula Vista Auto Park East were evaluated in the previously adopted Mitigated Negative Declaration IS-02-010 for the Auto Park East project and specific plan.
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Environmental Determination
No additional CEQA findings are required at this time because the Sunroad OPA does not approve any specific development, but rather is a government funding mechanism and fiscal activity that does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environmen...
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