Development Agreement Achieve longterm economic and social goals Ensure that the intent of the CF zone is preserved by prohibiting certain land uses that would otherwise be allowed win the CG zone ie entertainment uses and automobile repair garages ID: 276004
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Heritage Professional Center
Development Agreement:Achieve long-term economic and social goalsEnsure that the intent of the C-F zone is preserved by prohibiting certain land uses that would otherwise be allowed w/in the C-G zone (i.e. entertainment uses and automobile repair garages).Developer shall construct a minimum of 7.5 acres of the property for commercial/retail development (As Revised on the Errata Sheet).Phase 3 Retail – Shall be developed w/ at least 80% of the total building s.f. of businesses where 75% of their income is sales tax or transient occupancy tax.Tax Exemption Restrictions – Ensures that the City will receive an annual payment of the full property tax value if the tenant or developer receives a property tax exemption.
City of Chino Hills City Council presentation January 22, 2009
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. That compromises bothSlide2
Development Agreement
Achieve long-term economic and social goals
Ensure that the intent of the C-F zone is preserved by prohibiting certain land uses that would otherwise be allowed w/in the C-G zone (i.e. entertainment uses and automobile repair garages).Developer shall construct a minimum of 7.5 acres of the property for commercial/retail development (As Revised on the Errata Sheet).Phase 3 Retail – Shall be developed w/ at least 80% of the total building s.f. of businesses where 75% of their income is sales tax or transient occupancy tax.Tax Exemption Restrictions – Ensures that the City will receive an annual payment of the full property tax value if the tenant or developer receives a property tax exemption.
First, a simple redesign of the template to remove some of the wasteful white space outside of the design.Slide3
Development Agreement
Achieve long-term economic and social goals
Prohibit certain land useGuaranteed commercial/retail development80% reserved for businessesTax exemption restrictionsText distilled down. Switch to Notes page to see the original text, formatted for printout.Slide4
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Revised Economic Analysis:
KMA prepared a revised comparative economic analysis for the project which included assessments of:Annual property tax, sales tax, and transient occupancy tax (TOT) revenues allocated to the City General Fund and generated by the respective developments;New resident equivalents created as a result of the daytime workforce jobs generated by the development and added to the resident equivalent population of the City; and
Annual General Fund service costs to be generated by the new resident equivalents. Heritage Professional Center
City of Chino Hills City Council presentation January 22, 2009
Original slideSlide5
Revised Economic Analysis
KMA assessments included:
Revenue from property tax, sales tax, occupancy taxNew resident equivalents from daytime workforce jobsAnnual General Fund service costs generated by new residentsRevision, designed to be coupled with Notes pageSwitch to Notes view to see the handout.Slide6
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Planning Commission Actions
The Planning Commission had questions regarding: 1. The economic analysis and the viability of locating two hotels adjacent to one another (one hotel located at Heritage Professional Center and one hotel located on the adjacent project to the northwest, The Golden Triangle). 2. The Planning Commission also had concerns regarding parking due to the adjacent Chino Hills High School. The applicant had stated that they will provide onsite security at the AM and PM peak hours of the high school and any special events. Therefore, the Planning Commission added a Condition of Approval to the project to require that the applicant provide on-site security and signage to restrict High School parking on their property. The Planning Commission recommended approval of the project to the City Council with a unanimous vote 5-0.
City of Chino Hills City Council presentation January 22, 2008
BeforeSlide7
Planning Commission Actions
Questions remain regarding:
Viability of locating two hotels adjacent to one anotherConcerns about parking due to the adjacent Chino Hills High School. The Planning Commission recommended approval of the project to the City Council with a unanimous vote 5-0.AfterSwitch to Notes view to see handout.