HomeMy WebLinkAbout1993-041 Camino Real Fashion Outlets Participation Agmt. lei ' CITY OF ATASCADERO
1918 A °1 1978
OFFICE of the CITY CLERK
July 17, 1995
Charles B. Voorhis, 11, President
Golden West Development Corporation
7627 Morro Road
Atascadero, CA 93422
Dear Chuck,
Enclosed please find a copy of the recorded Participation Agreement and the First
Amendment to the Agreement regarding the Atascadero Factory Outlets. With two
exceptions, the agreement is essentially what you already have on file.
The exceptions are:
1 ) The addition of notarial acknowledgments, which as you know were
prepared over the past several months in order to record the document.
2) Exhibit A (parcel description) has been revised. When I attempted to
record the agreement, it became necessary to contact Volbrecht Surveys
to request that they fill in information left blank regarding book and page
numbers. In reviewing the document, Volbrecht noted that the parcel
description was inaccurate in minor detail and produced a revised
description to replace the one originally submitted.
Thank you for your assistance in getting the document ready to record. If you have
any questions or concerns, please don't hesitate to give me a call.
Sincerely,
i
LEE PRICE, CMC
City Clerk
Enc.
c: Kenneth Slaught, Investec
Steve DeCamp, City Planner
6500 PALMA AVENUE • ATASCADERO, CA 93422 (805) 461-5074
tiriri}
iroFa— 1e1 CITY OF ATASCADERO
1018 9 1 9
OFFICE of the CITY CLERK
July 17, 1995
Kenneth Slaught, Vice-President
Investec
200 E. Carrillo, Suite 200
Santa Barbara, CA 93101
Dear Chuck,
Enclosed please find a copy of the recorded Participation Agreement and the First
Amendment to the Agreement regarding the Atascadero Factory Outlets. With two
exceptions, the agreement is essentially what you already have on file.
The exceptions are:
1 ) The addition of notarial acknowledgments, which as you know were
prepared over the past several months in order to record the document.
2) Exhibit A (parcel description) has been revised. When I attempted to
record the agreement, it became necessary to contact Volbrecht Surveys
to request that they fill in information left blank regarding book and page
numbers. In reviewing the document, Volbrecht noted that the parcel
description was inaccurate in minor detail and produced a revised
description to replace the one originally submitted.
Thank you for your assistance in getting the document ready to record. If you have
any questions or concerns, please don't hesitate to give me a call.
Sinc ely
LEE RICE, CMC
City Clerk
Enc.
c: Chuck Voorhis, Golden West
Steve DeCamp, City Planner
6500 PALMA AVENUE • ATASCADERO, CA 93422 (805) 461-5074
"•
Recording Requested By
and When Recorded Return to:'--'
930,11
CITY OF ATASCADERO
6500 PALMA AVENUE
ATASCADERO, CALIFORNIA 93422
ATTN: LEE PRICE CITY CLERK
----------------------------------------------------------------
AGREEMENT
by and between
THE CITY OF ATASCADERO and
CAMINO REAL FASHION OUTLETS CENTER, LTD.
Note: Includes First Amendment
By and Between the City
and Camino Real Fashion Outlet
Center, Ltd. dated 7/1/94
Doc No: 1995-023102 Rec No: 00033420
Official Records ; NF 0 . 00
San Luis Obispo Co.
Julie L . Rodewald
Recorder
Jul 11 , 1995
Time : 10 : 12
251 , TOTAL 0 . 00
ii EXEMPT FROM RECORDER'S FEES
Pursuant to Government
Code §§ 6103 , 27383
8!6193
60659.5 SIGNATURE COPY
w,
c -
TABLE OF CONTENTS FOR
THE CITY OF ATASCADERO and
CAMINO REAL FASHION OUTLETS CENTER LTD.
PAGE
1. Recitals . . . . . . . . . . . . . . . . . . . . . . . 1
2 . Interest of Developer . . . . . . . . . . . . . . . . . 4
3 . Binding Effect . . . . . . . . . . . . . . . . . . . . 4
4 . Negation of Agency . . . . . . . . . . . . . . . . . . 4
5. Development of the Property . . . . . . . . . . . . . . 4
6. Acknowledgments, Agreements and Assurances . . . . . . 5
7 . Project Generated City Sales Tax Revenues . . . . . . . 5
A. City's Contingent Obligation to Pay Portions
ofAssessments . . . . . . . . . . . . . . . . . . 5
B. December Installments . . . . . . . . . . . . . . 6
C. April Annual Installments . . . . . . . . . . . . 7
D. Failure to Deposit by Developer.
Termination . . . . . . . . . . . . . . . . . . . 8
E. Costs of Escrow . . . . . . . . . . . . . . . . . 8
F. Reconciliation . . . . . . . . . . . . . . . . . . 8
8. Developer's Obligation to Construct . . . . . . . . . . 8
9 . Modification, Amendment, or Cancellation . . . . . . . 8
10. Term of Agreement . . . . . . . . . . . . . . . . . . . 9
11. Administration of Agreement and Resolution of
Disputes . . . . . . . . . . . . . . . . . . . . . . . 9
12 . Excused Delays in Performance . . . . . . . . . . . . . 9
13 . Prohibition Against Change In Ownership,
Management and Control of Developers . . . . . . . . . 9
A. Qualifications of Developer . . . . . . . . . . . 9
8/6/93
60659.5 -1- SIGNATURE COPY
;� i
y
B. Assignment, Prohibited without Approval . . . . 10
C. Effect of Approved Assignment . . . . . . . . . 10
D. Definition of "Developer" . . . . . . . . . . . 10
E. Permitted Assignment, without Approval . . . . . 10
F. Exceptions . . . . . . . . . . . . . . . . . . . 10
G. Assignment. Termination. . . . . . . . . . . . . 10
14 . Notices . . . . . . . . . . . . . . . . . . . . . . . 10
15. Binding Effect . . . . . . . . . . . . . . . . . . . 11
16. Section Headings . . . . . . . . . . . . . . . . . . 11
17 . No Presumption Re: Drafter . . . . . . . . . . . . . 11
18. Assistance of Counsel . . . . . . . . . . . . . . . . 11
19 . Arbitration . . . . . . . . . . . . . . . . . . . . . 11
20. Validation. Operative Date . . . . . . . . . . . . . 13
21. Effective Date . . . . . . . . . . . . . . . . . . . 13
Exhibit A... .. ...................... .... . ...... . . ... . ... .. .. ... . 15
Exhibit B........... .. ....... .. .. ............ . .................. 16
ExhibitC... .......................... .......... ..... .. ... ...... 17
22. First Amendment. . . . . . . . . . . . . . . . . . . . . . . . . 18
8/6/93
60659.5 -11- SIGNATURE COPY
This Agreement (hereafter "Agreement") , is made and
entered into by and between the City of Atascadero, a general law
city ("City") and Camino Real Fashion Outlets Center, Ltd. , a
California limited partnership ("Developer") .
In consideration of the mutual conditions and covenants
contained herein, the Parties hereto agree as follows:
W I T N E S S E T H•
1. Recitals. This Agreement is made and entered into
with regard to the following facts each of which are acknowledged
as true and correct by the Parties to this Agreement, and for the
following purposes:
A. Developer is the owner of the real property
commonly known as the "Camino Real Fashion Outlet Site" , which is
located in the City of Atascadero, County of San Luis Obispo,
State of California, and is more particularly described in
Exhibit A attached hereto and incorporated herein by this
reference (the "Property") ; and
B. Developer desires and is willing to construct
certain buildings and structures on the Property therein known as
a "Factory Outlet Center" (the "Project") , as hereafter
described; and
C. The Planning Commission and City Council of
City have approved the Project, as to General Plan and zoning
approvals ("Approval") which Approval included compliance with
the California Environmental Quality Act (Section 21000 et sea. ,
of the Public Resources Code) and the State and Local guidelines
relating thereto (collectively "CEQA") ; and
D. The City desires to obtain the binding
agreement of the Developer for the development of the Project in
accordance with the provisions of this Agreement. Developer
desires to obtain the binding agreement of the City to permit the
Developer to develop the Project in accordance with this
Agreement; and
E. The parties intend that the execution of this
Agreement shall constitute an exercise of rights with respect to
the Approval; and
F. City has heretofore initiated and approved a
special assessment district pursuant to the Municipal Improvement
Act of 1913 , Section 10, 000 et sec. . , of the California Streets
and Highways Code, known as "Assessment District No. 6" for the
purpose of providing certain of the necessary off site public
improvements required to serve the Project; and
8/6/93
60659.5 -1- SIGNATURE COPY
y
4'
r
G. In order for the Project to be economically
feasible, it is necessary to reduce all costs of development so
as to render the Project economically competitive with similar
existing and/or proposed uses in other areas within the County of
San Luis Obispo; and
H. The City Council of City has determined the
public interest requires the assistance of the City to establish
the Project on the Property, for, among others, the following
reasons:
(1) It is clear that without the City providing
financial assistance, given the stagnant condition
of the local economy, the Property will continue to
be unimproved and a detriment to the City and its
residents; and
(2) It has been determined that without such
financial assistance, neither the Property, nor
other adjacent properties, will be developed as is
contemplated by the City's General Plan; and
(3) That the financial assistance by the City
authorized pursuant to this Agreement will result in
the Developer completing the Project, within the
time permitted by this Agreement, which will serve
legitimate public purposes of the City, by
energizing the City's economic base; by promoting
the municipal affairs of the City; by implementing
the City's General Plan; by expanding the City's tax
base, and by making available to residents of the
City, goods and services which are now available
only at distant locations; and
(4) That the implementation of this Agreement will
promote the economic development of the City by the
creation of new jobs for residents, by causing the
development of the Project on the Property, which
will enhance existing uses of adjacent properties,
and by encouraging the development and/or
redevelopment of adjacent undeveloped properties.
Such development will effectuate the full and
efficient utilization and modernization of existing
commercial and business facilities located in the
City; and
(5) The implementation of this Agreement will cause
the growth of the City's overall commercial tax base
through increased property values and consumer
purchases; and
8/6/93
60659.5 -2- SIGNATURE COPY
�� � r
(6) The development of the Project will assist in
the reduction of the cost of welfare and other
remedial governmental programs, including a
reduction in, and/or prevention of, urban blights,
such as crime, which is attributable, in part, to
the existence of inadequate economic opportunities;
and
(7) The completion of the Project will contribute
to the diversification and the stability of the
City's overall economy; and
(8) The implementation of this Agreement by the
City paying, semi-annually, from its General Fund, a
portion of the sales taxes generated by taxable
transactions occurring on the real properties
included in the Project, and actually received by
the City, will, as hereafter described, assist in
providing for the financing of the construction of
public improvements which will serve the Property,
and the residents of the City; and
(9) This Agreement will provide tax revenues to
replace tax revenues lost to the City this year, and
in recent years, by the passage of State Budget
Legislation, which lost tax revenues must be
expeditiously replaced; and
(10) The determination by the City Council of public
benefits to be received by the execution and
implementation of this Agreement, is based, in part,
on the materials developed for, and included in, the
Environmental Impact Report for the Project,
prepared by SEDES, dated January 1992 , and testimony
and applicable staff studies and reports received
and considered by the City Council of City in the
hearings conducted by it on June 22 , 1993 , and the
personal knowledge and observations of members of
the City Council (collectively "Studies") ; and
(11) The City Council has determined that the City
is in need of additional businesses which will
produce additional tax revenues; that the retail
businesses which would be successful on the Property
and would generate an above average amount of sales
tax revenues, are the type of uses which will be
included in the Project; and
(12) The Studies also demonstrate that the Project
would not have an adverse effect upon existing
retail outlets in the City; and
8/6/93
60659.5 -3- SIGNATURE COPY
(13) It is anticipated that sales tax receipts from
the Project will annually generate between ONE
HUNDRED THIRTY-TWO THOUSAND DOLLARS ($132 , 000. 00)
and TWO HUNDRED THOUSAND DOLLARS ($200, 000. 00) in
future years, as well as other tax revenues which be
generated by the Project; and
I. Developer has applied to the City for approval
of this mutually binding Agreement. The City Council of the City
has determined that the provisions of this Agreement are consis-
tent with the City's adopted zoning regulations, plans and
policies, and the City's General Plan; and
J. This Agreement is consistent with the public
health, safety, and welfare needs of the residents of the City
and the surrounding region. The City Council has specifically
considered and approved the impact and benefits of this Project
upon the welfare of the City and the region; and
K. This Agreement eliminates uncertainty in
planning and provides for the orderly development of the Property
and generally serves the public interest within the City and the
surrounding region; and
L. The City Council has determined that the public
interest, convenience and necessity require the execution and
implementation of this Agreement.
2 . Interest of Developer. The Developer represents to
the City that as of the date of this Agreement, it owns the
Property in fee, subject to encumbrances, easements, covenants,
conditions, restrictions, and other matters of record.
3 . Binding Effect. This Agreement, and all of the
terms and conditions of this Agreement, shall run with the lands
comprising the Property and shall be binding upon and inure to
the benefit of the City and its successors in interest.
4 . Negation of Agency. The Parties acknowledge that,
in entering into and performing under this Agreement, each is
acting as an independent entity and not as an agent of the other
in any respect. Nothing contained herein or in any document
executed in connection herewith shall be construed as making the
City and Developer joint venturers, partners or employ-
er/employee, or any other relationship, except as is expressly
provided in this Agreement.
5. Development of the Property. The Property shall be
developed as is described on Exhibit B, attached hereto and
incorporated herein by this reference, at Developer's sole
expense.
8/6/93
60659.5 -4- SIGNATURE COPY
low *AW
r
6. Acknowledgments, Agreements and Assurances. The
Parties acknowledge and agree that:
A. Developer's faithful performance in developing
the Project on the Property, will fulfill substantial public
needs; and
B. That there is good and valuable consideration
to the City resulting from Developer's obligations hereunder and
the faithful performance thereof; and that such consideration
received by City is in balance with the benefits conferred on the
Developer by this Agreement; and
C. That the exchanged consideration hereunder is
fair, just and reasonable; and
D. That the parties by execution of this Agreement
shall be deemed to have each accepted all of the conditions of
the Approval imposed upon the Project by City, which conditions
are reasonably required for the development of the Project.
7 . Project Generated City Sales Tax Revenues.
A. City's Contingent Obligation to Pay Portions of
Assessments. Pursuant to the provisions of this Agreement, City
shall during each fiscal year occurring during the term of this
Agreement commencing on and after July 1, 1994 , be obligated, in
the time and manner set forth in this Agreement, to pay, semi-
annually, portions of the assessments imposed upon the Property
pursuant to Assessment District No. 6 ("Assessments") . City's
maximum obligation in any fiscal year during the term of this
Agreement, determined on an annual basis, as hereinafter
described, shall be the lesser of the following, as determined by
the Director of Finance of City ("Director") :
(1) an amount equal to fifty percent (50%) of the
sales tax dollars actually received by City,
generated by taxable transactions which take place
on the Property ("Sales Taxes") ; or
(2) an amount equal to one-half (1/2) of the total
annual amount of the Assessments imposed on the
Property; or
(3) the sum of NINETY-TWO THOUSAND DOLLARS
($92 , 000. 00) .
City shall not be obligated to pay any portion of the
Assessments in any such fiscal year, unless Developer, or a
lawfully approved successor in interest, prior to December 8th of
each calendar year occurring during the term of this Agreement,
files with the Director a written certification unqualifiably
8/6/93
60659.5 -5- SIGNATURE COPY
representing and warranting that Developer currently is, and has
been during the immediate preceding twelve (12) months, the owner
in fee of all Lots included in the Property. In the event
Developer, or a lawfully approved successor in interest, is not,
in fact, the owner of each of the Lots included in the Property,
during each such preceding twelve (12) month period, the City
shall have no obligation to pay any portion of said Assessments
for that fiscal year. If, voluntarily or involuntarily,
Developer, or a lawfully approved successor in interest, is no
longer the owner of all Lots included in the Property, this
Agreement shall, as of the effective date of the transfer of
title to all or anyone of the Lots included in the Property, be
terminated, and of no further effect; provided that City shall be
entitled to recover any sums paid hereunder together with
interest thereon, at the then interest rate applicable to moneys
due pursuant to Judgments. Additionally, City shall be entitled
to all costs incurred in such recovery, including, but not
limited to, attorneys' fees. City's right to recover such sums
shall survive the termination of this Agreement.
B. December Installments. On or before December
1st of each calendar year occurring during the term of this
Agreement, commencing on , 19 , the Director
shall determine the gross amount of Sales Taxes actually received
by the City during the twelve (12) month period ending on June
30, immediately preceding each such December 1st ("Period") . The
Director shall give notice to the Developer of the amount of
Sales Taxes actually received by City during the Period.
Annually, prior to December 1 of each calendar year
occurring during the term hereof, the Developer shall file with
the Director a complete true copy of all County Tax Bills
relating to each Lot included in the Property for the current
fiscal year which shows the total sums due on each Lot included
in the Property, as and for special and general ad valorem taxes
and special assessments ("Tax Bills") . Upon receipt of such Tax
Bills, the Director shall ascertain from said Tax Bills, and/or
any other sources available to the Director, the amount of the
Assessments imposed upon all of the Lots included in the
Property, owned by Developer during the fiscal year to which the
Current Tax Bill relates.
On or before December 8th of each calendar year occurring
during the term of this Agreement, the Director shall pay from
City's General Fund, to a bank, selected by the Director for that
purpose ("Bank") , in an escrow account, an amount equal to the
one-half (1/2) of the amount determined by the Director to be the
City's obligation pursuant to the provisions of this Section, 7,
which shall in no event exceed the sum of FORTY-SIX THOUSAND
DOLLARS ($46, 000. 00) .
8/6/93
60659.5 -6- SIGNATURE COPY
s .
1
The Director shall give notice to Developer,
telephonically, with subsequent written confirmation, of the
amount so deposited. Upon receipt of such telephonic notice
given by the Director, of the amount paid to Bank by City, Deve-
loper shall forthwith deposit with the Bank, in said escrow, a
sum equal to the amount shown on the current Tax Bills required
to be paid for the total of the first installment due for all
general and special property taxes, penalties, interest, and any
other assessments or tax liens imposed of record (collectively
"Property Taxes") upon each Lot included in the Property, then
owned by the Developer, for the current fiscal year, less the
amount of the City's deposit with the Bank.
Pursuant to the terms of this Agreement, Bank shall take
one of the following actions on or before December 9th of each
such calendar year occurring during the term of this Agreement:
(1) If the total sums deposited by City and
Developer equal the full amount due for the
installment of taxes and assessments due and payable
on or before December 10th of each such fiscal year,
on each Lot included in the Property, Bank shall,
not later than 5: 00 p.m. on the December 10th of
such year, make payment of the same to the Tax
Collector of the County of San Luis Obispo; or
(2) If, for any reason, City fails to timely
deposit all of the funds the Director has determined
City is required to pay hereunder, Bank shall,
forthwith, refund to the party making such deposits,
all sums deposited in the escrow account and
thereafter the Bank shall have no further obligation
to make any payment for and on behalf of City and/or
Developer; or
(3) If Developer, for any reason fails to timely
deposit with Bank a sum equal to all of the funds it
is required to pay as and for the first installment
of Property Taxes and Assessments due for the then
current fiscal year, on all Lots included in the
Property, less the amount paid to Bank by City, Bank
shall forthwith refund to City and/or Developer all
sums deposited by City or Developer and the Bank
shall have no further obligation to make any payment
for or on behalf of City or Developer.
C. April Annual Installments. If the full payment
of the first or December installment of Property Taxes and
Assessments in any fiscal year, as contemplated by subparagraph B
of this Section, 7 , is timely made and evidence of such payment
is transmitted to the Director, then on or before April 8th of
8/6/93
60659.5 -7- SIGNATURE COPY
r
i
the next following calendar year, the Director shall deposit, on
behalf of City, from City's General Fund, the same amount
deposited with the Bank in the preceding December. The
provisions of subparagraph B of this Section, 7, set forth above,
shall be followed by the Parties and the Bank for the purpose
causing the second annual installment of Property Taxes and
Assessments to be paid on each Lot included in the Property.
D. Failure to Deposit by Developer. Termination.
In the event that the Developer fails to make the cash deposit
with Bank as required pursuant to this Section, 7 , so as to meet
Developer's obligations for the payment of the first and/or
second installments of general or special Property Taxes and
Assessments due on the Property, in any fiscal year occurring
during the term of this Agreement, the Director shall report such
circumstance to the City Council. In such case, the City
Council, in its sole discretion, may, forthwith, terminate this
Agreement.
E. Costs of Escrow. All costs of escrow and
related services authorized to be performed by Bank as escrow
holder pursuant to this Agreement, shall be borne equally by the
Parties hereto.
F. Reconciliation. Upon the request of either
party hereto, at any time during the term of this Agreement or as
of the date of an earlier termination of this Agreement, prior to
the expiration of the term hereof, and/or at the expiration of
the term hereof, the Director and representatives of Developer
shall meet and confer for the purpose of reconciling actual sums
City is obligated to pay pursuant to the provisions hereof.
8. Developer's Obligation to Construct. The Developer
shall be obligated, pursuant to the terms of this Agreement, to
construct the buildings and structures necessary to permit the
Project to be operative, in the manner, and within the time
therefor, as set forth in the Scope of Development/Schedule of
Performance as attached hereto and incorporated herein by this
reference marked Exhibit C. All costs of development in
accordance with the Exhibit C, shall be exclusively borne by
Developer.
Failure by Developer to construct the buildings and
structures in accordance with said Exhibit C, or to fail to build
the same within the time permitted pursuant to said Exhibit C,
shall be deemed a material breach of this Agreement, for which
City may, forthwith, terminate this Agreement.
9 . Modification Amendment or Cancellation. This
Agreement may be modified, amended or terminated by mutual
consent of the Parties or their successors in interest.
816193
60659.5 -8- SIGNATURE COPY
j `
10. Term of Agreement. Unless sooner terminated
pursuant to the provisions of this Agreement, this Agreement
shall continue in full force and effect until December 31, 2013 .
11. Administration of Agreement and Resolution of
Disputes. All decisions by the City staff concerning the
interpretation and administration of this Agreement and the
Project which is the subject hereof are appealable by the
Developer to the City Council. The decision of the City Council
on such matters appealed to it, shall be final and conclusive.
12 . Excused Delays in Performance. Developer shall not
be deemed to be in default of its obligations except for its
obligations pursuant to Paragraph 7 , to this Agreement where a
delay(s) in the timeliness of performance by Developer, occurs,
if Developer has acted diligently and the delay(s) in performance
are due, exclusively, to events beyond the reasonable control of
Developer ("Excused Delays") . Events which constitute Excused
Delays, include, but are not limited to, war; insurrection;
strikes; lockouts; riots; floods; earthquakes; fires; casualties;
acts of God; acts of a public enemy; epidemics; quarantine
restrictions; freight embargoes; or failure by the City or other
governmental agencies, not, in whole or in part, caused by
Developer, to timely approve plans, or issue permits; or
unusually severe weather which prohibits Development. "Excused
Delays" shall not include delays occasioned by economic factors.
Notwithstanding anything to the contrary in this
Agreement, an extension of time for Excused Delays shall be for
the period of each Excused Delay and shall run from the time of
commencement of the Excused Delay to the time when the Excused
Delay no longer exists. If any such Excused Delay continues for
a period of One Hundred and Eighty (180) or more consecutive
calendar days, City shall have the right to terminate this
Agreement. Notice of an Excused Delay including the cause or
causes therefor, shall be promptly given by Developer to City.
13 . Prohibition Against Change In Ownership, Management
and Control of Developers.
A. Qualifications of Developer. The
qualifications and identities of principal officers of Developer
are of particular concern to the City as the same relate to the
Project. It is because of their respective qualifications and
identities, that the City has entered into this Agreement with
Developer. Therefore, no voluntary or involuntary successor in
interest of Developer shall acquire any rights or benefits under
this Agreement except as expressly set forth herein.
8/6/93
60659.5 -9- SIGNATURE COPY
I�w
Y
Cir
B. Assignment, Prohibited without Approval.
Developer shall not assign or transfer all or any portion of
their rights, duties or obligations under this Agreement to a
third party, without the prior written approval of the City;
provided however that the City shall not unreasonably withhold
such approval, if such proposed successors have financial
abilities and business experience sufficient, as determined in
the sole discretion of the City Council, to carry out the
provisions of this Agreement.
C. Effect of Approved Assignment. All of the
terms, covenants and conditions of this Agreement shall be
binding upon the City, the Developer and any lawfully approved
successor in interest of Developer.
D. Definition of "Developer" . Whenever the term
"Developer" is used herein, such term shall include any other
lawfully approved successor in interest of Developer.
E. Permitted Assignment, without
Approval. Notwithstanding the provisions of this Section, 15,
Developer shall be free to assign or transfer all or any of the
Lots included in the Project Site, without the consent of
approval of the City, to any legal entity in which the current
general partners of Developer, have substantial financial
interests and such general partners continue to be obligated as
primary obligors as to Developer's obligations pursuant to this
Agreement.
F. Exceptions. The prohibitions against
assignment or transfer shall not apply to any lease, dedication,
grant of easement or license, financing, deeds of trust, or
security interest encumbrance as to any Lot included in the
Property.
G. Assignment. Termination. The City Council
may, in the event of an assignment made contrary to the
provisions hereof, terminate this Agreement, forthwith.
14 . Notices. Whenever notices are required to be given
pursuant to the provisions of this Agreement, the same shall be
in written form and shall be served upon the party to whom
addressed by personal service as required in judicial proceed-
ings, or by deposit of the same in the custody of the United
States Postal Service or its lawful successor in interest,
postage prepaid, addressed to the Parties as follows:
CITY: City of Atascadero
6500 Palma Avenue
Atascadero, California 93422
Attn: City Manager
LED
60659.5 _10- SIGNATURE COPY
DEVELOPER: Camino Real Fashion Outlets Center, Ltd.
7627 Morro Road
Atascadero, California 93422
Attn: Richard Shannon
Notices shall be deemed, for all purposes, to have been given on
the date of personal service or three (3) consecutive calendar
days following the deposit of the same in the United States mail.
15. Binding Effect. The provisions of this Agreement
shall be binding upon the Parties hereto and their respective
successors in interest.
16. Section Headings. The section headings contained in
this Agreement are for convenience and identification only and
shall not be deemed to limit or define the contents of the
sections to which they relate.
17 . No Presumption Re: Drafter. The Parties
acknowledge and agree that the terms and provisions of this
Agreement have been negotiated and discussed between the Parties
and their attorneys, and this Agreement reflects their mutual
agreement regarding the same. Due to the nature of such
negotiations and discussions, it would be inappropriate to deem
any party to be the drafter of this Agreement, and therefore no
presumption for or against validity or as to any interpretation
hereof, based upon the identity of the drafter shall be applica-
ble in interpreting or enforcing this Agreement.
18 . Assistance of Counsel. Each party to this Agreement
warrants to each other party, as follows:
A. That each party hereto had the assistance of
counsel in the negotiation for, and execution of, this Agreement,
and all related documents; and
B. That each party hereto has lawfully authorized
the execution of this Agreement.
19 . Arbitration. Except as otherwise expressly provided
herein, the Parties hereto agree that any claim or dispute
between them, arising out of or relating to the terms of this
Agreement, shall be resolved by compulsory binding arbitration
conducted by a retired Superior Court Judge of the State of
California or other qualified person the Parties mutually agree
upon. The claim or dispute being arbitrated shall be resolved in
accordance with California law.
The arbitration proceedings shall be governed by the laws
and procedures governing civil judicial proceedings in this
8/6/93
60659.5 -11- SIGNATURE COPY
State. Each party shall comply with all applicable laws relating
to binding and compulsory arbitration, the directions given by
the Arbitrator and the provisions of this Agreement. The
determinations made by the Arbitrator, if within the scope of the
Arbitration and the Arbitrator's function, shall be binding and
conclusive on the Parties and shall be enforceable in the manner
provided by law.
The Arbitrator shall be selected in the following manner:
(a) The party initiating the arbitration
("Initiating Party") shall prepare and submit to the
other party a list ("List") containing the names of
not to exceed three (3) retired Superior Court
Judges each of whom the Initiating Party believes
are qualified to serve as Arbitrator. The names of
the judges on the List shall be numbered
consecutively by the Initiating Party.
(b) The party upon whom the List is served, within
ten (10) calendar days after service of the List,
shall either:
(1) select one of the named retired judges to
act as Arbitrator, in which case that retired
judge shall serve as the Arbitrator; or
(2) strike one (1) name from the List.
(c) Upon expiration of said ten (10) day period, if
no selection is made, the Arbitrator shall be the
retired judge on the List with the lowest number
next to his name, unless that judge's name was
stricken during the ten (10) day period by the non-
initiating party.
(d) If, for any reason, the retired judge
designated as the Arbitrator is unwilling or unable
to serve as the Arbitrator, the judge on the List
with the next lower number whose name was not
stricken shall be the Arbitrator. In the event that
none of the three retired judges named on a List,
are willing or able to serve as the Arbitrator, the
Initiating Party shall prepare and submit a new
List, containing the names of not to exceed three
(3) different retired judges, and the above
described procedure shall be followed until an
Arbitrator is selected.
Each party hereto hereby agrees to pay one-half of the
compensation to be paid to the Arbitrator, and except as
8/6/93
60659.5 -12- SIGNATURE COPY
otherwise expressly provided herein, each party shall bear its
own costs and expenses of arbitration, including, but not limited
to, attorneys' fees and related costs.
By way of illustration, if the List served by the
Initiating Party, upon the other party, has the name of three (3)
retired judges, A, B, and C, numbered 1, 2 and 3 , respectively;
and number 1 is stricken, then B, Number 2 , shall be deemed, for
all purposes, to be the selected Arbitrator.
20. Validation. Operative Date. This Agreement shall
be validated pursuant to Section 860 et sere ,. , Code of Civil
Procedure in the State of California and other applicable law, by
a judgment of a court of competent jurisdiction.
21. Effective Date. The effective date of this
Agreement shall be the date that a judgment of a court of
competent jurisdiction validating this Agreement becomes final.
The Parties hereto have caused this Agreement to be
executed as follows:
CITY OF ATASCADERO
By:
C
'APPROVED AS TO FORM:
1
Ar her Mont ndon, City Attorney
CITY OF ATASCADERO
1 h,
Attorneys for Developer
8/6/93
60659.5 -13- SIGNATURE COPY
State of California
County o
f San Luis Obispo
On / before me, Lee Price, City Clerk, personally appeared
personally known to me 4e - pvovLhd
t ) to be the person ,wj whose
name(W is/a-2 - subscribed to the within instrument and acknowledged to me
that he/sh-e�y executed the same in his/ __ - authorized
capacity(.I� s) , and that by his/weir signature aso on the instrument the
personff,,�, or the entity upon behalf of which the person�@) acted, executed
the instrument.
fl:
WITN y d nd of icial seal.
&; - LEE PRICE
Nalary Pdit�Cd wia
LEE E, CITY ERR MN UAS OMM COUNTY
MvCWnm.EM"APRt 1999
State of California
County of San. Luis Obispo
0On bef me, ee Price, City Clerk, personally appeared
personally known to me
baff4ff ems to be the person) whose
name( is/are subscribed to the within instrument and acknow edged to me
that he/s ey executed the same in his/hex,I- h r authorized
capacity( , and that by his/fir signature(X) on the instrument the
person(-,>L, or the entity upon behalf of which the person acted, executed
the instrument. Ooffi
WITNEy a dial� seal. re+�
LEE PRICE
COWA.11064431
i%IN t�J11 OINIO COIINIY
LEE PRICE, CITY CLERK �AyCOf1Mn.�w��1�
State of California
County of San Luis Obispo
//
On Cc' S j before me, '`
personally appearedpersonally
known to me sarisfa-Gt -y—ervi-deuce) to be
the person() whose name(p) is/are subscribed to the within instrument and
acknowledged to me that ire/she/they executed the same in Ihl-s/her/tz-(--;r
authorized capacity(i-es) , and that by hi-&/her/their signature(() on the
instrument the person(,t) , or the entity upon behalf of which the person('0)
acted, executed the instrument.
WITNESS my hand and official seal. SHELLY NAN80N
7 y NOTARY PUNIC
SAN LUIS OBISPO COUNTY
'.--- CALIFORNIA
My Comma Won Expires an June 30,1905
j�
ti .�iP��rlhak
-.i )
State of California
County of San Luis Obispo
On tf /�V67S- b f re
personally appeared - c personally
known to me few p e) to be
the person W whose name W isfare subscribed to the within instrument and
acknowledged to me that he/sh ey executed the same in his/haxltheir
authorized capacity(i,�W, and that by his/her,lthei signatures on the
instrument the
acted, executed t strument. Yerson„ .+ w f which t o son
(.:) , or the entit on behalf o
LEE PRICE
WIT y a an fficl'al seal. COMM.#1054431
Notary PubNc—Calton—do
SAN LUIS 0BWF 0 COtM
�„ My Comm.A cp* APR 2.1999
r
yy,,..� .,.,,;�,�..�,,,,.
CAMINO REAL FASHION OUTLETS CENTER, LTD.
By: Golden West Development Corp. ,
a corporation, General Partner
By: ,� r' J
Preside"t
J
By:
Secrety
State of California
County of San Luis Obispo
Ona ore e,
personally appeared personally
known to me _to be
the person( whose name Os3 is/arc subscribed to the within instrument and
acknowledged to me that he/she-7 h executed the same in his1hQx1_the.Lr
authorized capacity( , and that by his/her e—signature(+3�, on the
instrument the person,('i},l , or the entity upon behalf of which the person>),
acted, executed th nstrument.
WITN S my a and ffiLal seal. LEE PRICE I
COMM.#I06AA31 Z
Notary PUAC—Cokfomia i
SAN LULS OBISPO COUNTY
My Comm.Expkes APR 2.1999
State of California
Count(y� of San Luis Obispo
On
personally appeared " personally
known to me to be
the person((0) whose name W is/a-re subscribed to the within instrument and
acknowledged to me that helsh—grey executed the same in his/h-
authorized capacity(i , and that by his/har-l+ rsignature N1 ) on the
instrument the person,(. , or the entity upon behalf of which the person(,
acted, executed the i ument.
WITNE y h rit3 n offi ial ,seal.
LEE PRICE
COMM.#106M1 Z
Notary Public—Ccifomta a
SAN LUIS OBISPO COUNTY
4PIMY Comm.ExpWo APR 2.1999
8/6/93
60659.5 -14- SIGNATURE COPY
���a� � ...a_. �,y�
�:::,�.,
;�,.
°,:,
��.
EXHIBIT A
PARCEL B
That portion of Lots 9, 10, 11, 12, and 13 in Block 23 of Atascadero Colony in the City of
Atascadero, County of San Luis Obipso, State of California, as shown on map recorded
October 21, 1914 in Book 3AC, Page 26 of Maps as shown on Map recorded April 14, 1994
in Book 70 of Licensed Surveys at Page 81, filed in the office of the County Recorder of the
County of San Luis Obispo, State of California, being more particularly described as
follows:
Commencing at a V iron pipe with plastic cap stamped "CALIF. DOT" at the northwesterly
most corner of said Lot 13 as shown on said Licensed Survey;
Thence along the southerly right-of-way line of Del Rio Road North 63°27107"East 71.49 feet
to a 3/4" iron pipe with tag stamped "LS 5201" as shown on said Licensed Survey;
Thence along said right-of-way line as described in Offer of Dedication recorded April 14,
1994 under Recorder's Series Number 1994-023840 of Official Records,North 70°00126"East
33.38' to a 3/4" iron pipe with tag stamped "LS 5201" as shown on said Licensed Survey;
Thence leaving said right-of-way line South 25°04131" East 140.76 feet to a 3/4" iron pipe
with tag stamped "LS 5201" as shown on said Licensed Survey;
Thence North 64°55129" East 112.04 feet to a 3/4" iron pipe with tag stamped "LS 5201" on
the southwesterly right-of-way line of El Camino Real as shown on said Licensed Survey;
Thence along said right-of-way line South 25°04131" East 891.47 feet to a rebar and cap
stamped "LS 5571" as shown on said Licensed Survey;
Thence leaving said right-of-way line South 64°55'06" West 316.95 feet to a rebar and cap
stamped "LS 5571"on the northeasterly right-of-way line of U. S. Highway 101 as shown on
said Licensed Survey;
Thence along said right-of-way line North 28°02149" West 221.64 feet to a 3/4" iron pipe
with cap stamped "LS 5201" as shown on said Licensed Survey;
Thence North 22°49'31"West 271.12 feet to a 2" iron pipe with brass cap stamped"CAL DIV
HWYS STA 133+00 120 RT" as shown on said Licensed Survey;
Thence North 28°10101"West 199.95 feet to a 1"iron pipe with plastic cap stamped "CALIF.
DOT" as shown on said Licensed Survey;
Thence North 11°46'52"West 177.13 feet to a 1" iron pipe with plastic cap stamped "CALIF.
DOT" as shown on said Licensed Survey;
Thence North 2°16'12" West 183.43 feet to the POINT OF BEGINNING.
Contains 6.97 acres.
-7- L'T
Alan L. V Ibrecht L.S. 5201 (exp. 6-30-99)
•
saw .�
.' ALAN
d®LB€�E�@iT
•,a •
a
OF
CAL
EXHIBIT "B"
CAMINO REAL FASHION OUTLET MAP
IS ON FILE WITH THE CITY CLERK, CITY OF ATASCADERO
-16-
�111�'
Exhibit C
Scope of Development
The proposed improvements to be constructed consist of an
approximate 89, 000 square foot Factory Outlet Shopping Center,
together with all on and off-site improvements required for the
operation of the center, and the efficient flow of traffic to and
from the center. The center will be leased to approximately 27-
30 tenants with construction to be of wood frame, stucco and
masonry in the mission style of Architecture , all to be
constructed in accordance with the plans approved by the City
pursuant to conditional use permit 04-91 and the conditions of
approval pertaining there to.
Schedule Of Performance
1 . Construction of Public Improvements to commence on or before
November 15, 1993.
2 . Construction of on-site improvements to begin on or before
December 31, 1993 .
3. Completion of construction to be on or before June 30, 1994 .
The above schedule may be extended in the event of
circumstances arising that are beyond the control of the
developer.
-17-
FIRST AMENDMENT TO AN AGREEMENT
BY AND BETWEEN THE CITY OF ATASCADERO
AND
CAMINO REAL FASHION OUTLETS CENTER, LTD.
The Agreement entered into on August 10, 1993, titled "Agreement by and
between the City of Atascadero and Camino Real Fashion Outlets Center, Ltd.", is
amended as follows:
1 . Exhibit C, sentence #3 is amended to read as follows:
3. Completion of construction to be on or before September 30;
1994.
2. The rights and responsibilities under this Agreement are hereby
transferred from Camino Real Fashion Outlets Center, Ltd., to
Atascadero Factory Outlets, Inc. , under the terms of Paragraph 13 of
the Agreement. The assignee shall assume all the duties under the terms
of this Agreement as the "Developer".
Dated: 7,�� /9"/
CITY OF ATASCADERO CAMINO REAL FASHION OUTLETS, LTD.
AGEOGE P. H LAND, �Mayo�rProTern By: Charles B. voorhis, II
Title:Pr.esident, Golden West Development Corp. ,
ATTEST: General Partner
ASSIGNEE: Atascadero Factory Outlets, Inc.
LEE ORICE, City Clerk By: Kennlaught
Ti e: Vic President
-18-
State of California
County of San Luis Obispo nc,/�
on (S/������ b re me.
personally appeared r� persona y
known to me (oc�vP.d t_� ^^ }'�= s-e€- e) to be
the person whose name()' is/ams subscribed to the within instrument and
acknowledg d to me that he/slew} executed the same in his/h - r
authorized capacity(i-es}, and that by his/h__!—w signature6a) on the
instrument the person(s) , or the enti t beha �h"c h erson
acted, executed the instrument.
LEE PRICE
WITN S h d nd of icial seal. comm.#1064431 Z
Notary Public-Cal{fa la a
SAN LUIS OBISPO COUNTY
My Comm.B pka APR 4.1999
State of California ����, l
County of
on z,Z.lei S before me,�
personally appeared eVNn GAG personally
known to me (or proved to me on the basis satisfactory evidence) to be
the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies) , and that by his/her/their signature(s) on the
instrument the person(s) , or the entity upon behalf of which the person(s)
acted, executed the instrument.
WITNESS my hand and official seal. MAWL1NNAKTl��
�RMOCdftft
\` `( \��ll,M��- . ��lJ-1o �/IIIIIb�� MR111.11�
State of California
Countyy of San Luis Obispo
on / bef re me, Le rice, City Clerk, personally appeared
personally known to me for pied
tnr5Z Pyieienae) to be the person) whose
name(.W is/ere subscribed to the within instrument and acknowledged to me
that he/s c/they executed the same in his/h-,�-'f -t-N9--r authorized
capacity(i1*Z;1, and that by his/heir signatureQ*) on the instrument the
person(,V , or the entity upon behalf of which the person( acted, executed
the instrument.
WI TN my a d d of ficial seal. LEE PRICE
COMM.#�� �.w.. 064431
NotwV PubNc-Calfa is
SAN LUIS 081SP0 COUNTY
My Comm. APR 4.1999
who IMINA
AOAA
"Ill.i S Vb%~J1 imi V
Y
State of California
County of San Luis Obispo
E
on �t —I�"� before m,�, �
personally appeared ti ., fic personally
known to me �) to be
the person() whose name($) is/are subscribed to the within instrument and
acknowledged to me that-4ie/she/they executed the same in h-i-s/her/thud
authorized capacity(ies) , and that by ht-s—/her/their signature(�O on the
instrument the person($) , or the entity upon behalf of which the person Op)
acted, executed the instrument.
WITNESS my hand and official seal. SHELLY HANSON
Fe NOTARY PUKX
SAN LUIS OBISPO COUNTY
CALIFORNIA
My Commission Expires on June 30,IM
END OF DOCUMENT
i �] `
1 ARTHER R. MONTANDON, CITY ATTORNEY (SBN 089793)
CITY OF ATASCADERO; and
2 BURKE, WILLIAMS & SORENSEN
J. ROBERT FLANDRICK (SBN 26883)
3 KENNETH D. ROZELL (SBN 155599) I
611 West Sixth Street
4 Suite 2500
Los Angeles, California 90017
5 (213) 236-0600
6 Attorneys for Petitioner,
CITY OF ATASCADERO, a general law city
7
8
9
10 `
11 SUPERIOR COURT OF THE STATE OF CALIFORNIA
12 COUNTY OF SAN LUIS OBISPO
13
i
14 CITY OF ATASCADERO, a general CASE NO. CV 074303
law city,
i
15 JUDGMENT OF VALIDATION
Petitioner, PURSUANT TO CODE OF CIVIL
16 PROCEDURE SECTION 860 , et
VS. sea.
i
17
ALL PERSONS INTERESTED IN THE
18 MATTER OF THAT CERTAIN WRITTEN
AGREEMENT DATED AUGUST 10, M
19 1993 , WHICH IS DESCRIBED AS
FOLLOWS: "AGREEMENT BY AND
20 BETWEEN THE CITY OF ATASCADERO
AND CAMINO REAL FASHION OUTLETS
21 CENTER, LTD. "; AND DOES 1
THROUGH 100, INCLUSIVE,
22
Respondent(s) .
23
24
25 The Court having considered the application of the City
26 of Atascadero, a general law city ("City") , for a Judgment of
27 Validation pursuant to Code of Civil Procedure §860, et sea. and
28 §53510, et sea. of the Government Code, and other applicable law,
04:JT2352.010
1 and good cause appearing therefor,
2 IT IS ORDERED, ADJUDGED AND DECREED:
3 1 . That all actions leading to the approval of that
4 certain agreement entitled "AGREEMENT BY AND BETWEEN THE CITY OF
5 ATASCADERO AND CAMINO REAL FASHION OUTLETS CENTER, LTD. " by and
6 between the City and Camino Real Fashion Outlets Center, Ltd. ,
7 dated August 10, 1993 (hereinafter, the "Agreement" ) , were
8 validly and lawfully taken; and
9 2. That the Agreement was validly granted by the City
10 Council of City, on or about the August 10 , 1993 , and is in full
11 force and effect, and is binding for all parties signatory
12 thereto; and
13 3 . That all persons are hereby permanently enjoined from
14 instituting any action or proceeding raising any issue to which
15 this Judgment is binding and conclusive pursuant to §860 , et
16 sea of the Code of Civil Procedure; and
17 4 . The Clerk is ordered to enter this Judgment.
18
19
MONEY
20 Dated: s
Judge of the Superior Court
21
22
23
24
25
26
27
28
-2-
04:JT2352.010
I
l4w
DEL RIO ROAD
trill
Cl)
G)l
>
TTI
Ul
OD
r7�
Ll
CA)
T( h
_K5
N)
N)
rQ
m
CG')
' 1 1
Res Camino Real Fashion Outlets
Honorable Mayor and Council Members:
We are now in the final stages of our project prior to
+ actual construction. Permits are ready to be issued, and lease
negotiations with tenants sufficient to fill the center are in
the final stages. As you are aware, we have been searching for a
loan commitment for the center for approximately 15 months now.
Unfortunately, because of the ongoing depressed commercial real
` estate loan market, we have only been able to secure one bonafide
proposal for financing, and then with stipulated contingencies.
According to our lender (Empire Financial ) , the project
financing can only be finalized with the City' s participation in
the following manner:
1. That the City agrees to assist in funding the off-site
public improvements on a shared (50/50) basis over the life
>R of the assessment bonds . Based on an estimated total cost
. _: for all public improvements of $1 . 75 million, this would
Y
require a bond payment by both the City and ourselves of
$92 , 000 annually. The most current estimate for income to
the city from sales tax, based on comparable stores , is
approximately $230 , 000 annually, which means that there
4
should still be an income stream from sales tax revenues
i
alone of over $130 , 000 annually into the City ' s General
Fund.
It is our understanding that an arrangement of this
N
kind is structured so the city has no liability in the event
IT there was ever a default on the bonds. Certainly, we would
understand the City wanting such assurance, and Bond Counsel
4 tells us it can be done.
2 . That the City waive the portion of the one-time permit
fees tied to the public improvements for the project. Based
on projections by the Community Development Department this
would amount to a waiver of $125,673.52 in fees.
We ask that this request be carefully considered. It is made
only after considerable soul-searching on our part, and only then
because we sincerely believe there are no viable alternatives to
A funding the project . As indicated, we have spent 15 months
searching for a lender, hoping that conditions and/or circum-
stances would improve within the banking industry. We have been
unsuccessful so far, causing us to reassess our chances of ob-
taining a conventional loan, and worse, to revise the possible
timeframe within which the financial institutions in the State of
0001'71
1 .
e
err
,'. 1. 1I ixo . 9;..11
California will be able to relax their current policies on com-
mercial loans . We must be candid and say that such opportunities
i
do not appear to be likely in the near-term.
Please be aware that the proceeds from the bond issue will
provide for payment of the first installment of the bond plus
'= there will be a two year payment reserve account.
At this point, then, our question to the City is , do you
want to forego the opportunity to secure a regional commercial
center at a time when both the national and state economies are
floundering-- a regional center that we truly believe can become
a catalyst for other economic changes in and to a town that
historically has had little or no opportunity to compete for
these kinds of retail market dollars? And need we remind anyone
that regional shopping draws can and do provide spin-off benefits
to other segments of the area, including restaurants and motels.
Lastly, we just want to say that this request is not part of
some speculative wish on our part. The land is ready to build
on; tenants sufficient to fill the center are signed up; plans
a
are approved. With your willingness to participate in this
venture, we can break ground within two months .
000172
We would ask that this request be considered at the time
Council will be holding the protest hearing on the assessment
district, at your meeting of June 22, 1993 .
! 'x Camino Real Fashion Outlets Center, Ltd.
Golden West Development Corp. General Partner
By: By: ,moi
James it , Charles B. voor is II
C.E.O. President
By:
C.F.O.
�
"ichard K. Shannon
C.F.O•
rv}
000173
G <r
P
CAMINO REAL FASHION OUTLETS
TENANT ROSTER
4/15/93
GUESS?
POLO/RALPH LAUREN
CLOTHESTIME
BOOK WAREHOUSE
KITCHEN WAREHOUSE
CORNING
NO NONSENSE
J CREW
BASS SHOES
BRUCE ALLEN BAGS
VAN HEUSEN
CAPE ISLE KNITTERS
PERFUMANIA
NAUTICA
FRAGRANCE COVE
AMERICAN TOURISTER
CARTER'S
BARBIZON
IZOD
WESTPORT LTD.
err ROCKY MT.CHOC.
U.S. SHOE OUTLET
TOY LIQUIDATORS
B.U.M.EQUIPMENT
WELCOME HOME
LEATHER LOFT
ARMANI
BANNISTER
Honorable Mayor and Council Members:This is a current list of Tenants committed to our
Center. It took us over a year to get Polio/Ralph Lauren to commit to the site.They are one of
the biggest draws in the outlet business. We actually now have more tenants than space
available. We are in the process of selecting and signing the remaining tenants we feel will be
the best draws to guarantee success for the center.
The tenants ask that this information not be distributed to the media,as they have
sensitivity issues to deal with their existing merchandise sellers.We ask that you respect
their wishes.,
Sincerely;
///11
Golden West Development Corp.
0001'74
�P
outlet sales performer�e
declined slightly in 1992
11 Outlet sales averaged �T.L T lJ�-•'T�`�V�+•
52.10,30 per square foot in
1992,a 1.1-percent declina RESEARCH—
6-0m a rear ago,according to
new data. in
V2,10.30, do-"' from S242-95r`cnt.
Tay 7,'Obt itl RNVAN 1991, representing a 1.1-pe
T;ditor-in-Chier t decrease.
Sales performance at Outlet
133 chains report
chtuns decreased slightly in 199'2, Ofthenation's 500outletchains
the first year-to-year decline since open at the end of 1992, 138 pro-
Value Retail Net" bcg� collect- P
vided sales data, rePn'5Qnting n
ing indust.rvwide sales data in response rate of 27.6 percent.
1984. It�et+s the largest respon r since
s uare foot ather-
Average sale; per q way Vclue Retail NN-6 began 6
for outlet stores 199 ing retail sales data-1wn l}'nine
years ago. was col-
___ The 199' sales data
92 lected late in the year for inclusion
g. in the just•published 1993 edition
e age a es SF'or ut et etadin 98
Outlet Rait Dire tor,•($tc
e.
r�Iuta f stc,ry, (;,te 56 The duec
Wry Ira published twice tl year by
�D I Value Retail
z-�$23;; 242.–$2
$211 The resulting survey data has
_S196 not b,-en weighvd based on the
------ r r,,Ich rh:un open
,0 00 $177 nurnl.A,r, of story`
rtes,nor or,the square Id C2t e of,
– $l49 _ — — chain's operation.
e (4.ticG extrelncd '
'[\..'O apptuelch:xins.or 1 5 F4,r,
00 -- -- — cent of the �apond;:nt , repat•ted
N,A anuu:a stiles of n•?[' syu.__
tc,ot, thy• hivh(st in thu
each of tate twc,chvdns has:m;1!1111 a
AS 4Ub.• U'I 9f10y R Rao .ry RRz t h:^nd+�I uf:,t._.res. _.
ni_te
Vii:"_:�. .1Not.j td
sr,ftio!)0lier ..}u1r, (rY..t,�ti'hile
five ch<uns(2-6 percent)s,u,i thou•
NOTE: California Factory Stores existing sales were.averagic,g beth' n 5400
outlet centers average about$260 per sq. ft.. vu-Id S450•
This would translate into about Twenty chains(14.5 percent)re-
$230,000 per year income to the City pmt-per quart etween $300 and
on sales tax dollars alone.
Another 71 chains (51.4 per-
cent) put their sales at S200 t1)
52�?`- per square foot.
At the lower end, 37 respon-
dents(26.8 percent)said sales were
ranging from 5100 to S199 per
square foot.
Median:$225
The retail sales survey's me-
than(midpoint)response was S225
per square foot.
The mode — the most fre.
qucntty giver,response—was S2
00
per square foot,as reported by 20
chains.
The lowest sales performance
was$100 per square foot,reported
by two chains.
One is a two-unit housewares
chain with a dozen units,the ter
an apparel chain that op,
ates a
half-dozen stores.
0001'75
TOTHI
�`
�,
l
o
4 r
K
Iwo
co
coco
J
6
O
F N
N M
O Y
U
O N
U1
v 6�
— N
V C3 OD
Ln
N
• N N .
O "
L M rn
iUN C\j
y,
L
� � e
0
N �
Q �
N
1
N J
C
O
♦'� N to
N coV
0
O
N
• tCf
LL
O
U
a�
,� o
U �
0001'76
. ,
,.
�w
! CITY Y OF ATASCADERO
1918 � � '• �� 1799
COMMUNITY DEVELOPMENT DEPARTMENT
February 3, 1992
Mssrs. Richard Shannon and Charles Voorhis
Golden West Development Corporation
P.O. Box 961
Atascadero, CA 93423
SUBJECT: CAMINO REAL FASHION OUTLET IMPACT FEES
Gentlemen:
In response to your letter of January 23rd, we have enclosed
calculations of what the current development fee and permit costs
would be for the Fashion Outlet project.
Given Council approval, we would see a need to. bring back a
negotiated adjustment in development fees to the Council for
approval. Clearly, many. of the improvements that you would
undertake would be eligible for a fee credit. However, other
impacts - such as parks and miscellaneous - are not really
mitigated by the project. However, the ordinance creating
development fees allows for flexibility relative to the "amount of
the payment. . . .and the timing thereof" . However, I must make it
clear that the Council has ultimate authority over any fee
adjustments.
Sincerely,
Henry Engen, Dire\c`tor
Community Development
HE4ps
Enclosure: Camino Real Fashion Outlet Fee Breakdown
cc: City Council
Ray Windsor, City Manager
Greg Luke, City Engineer
Mark Joseph, Administrative Services Director
6500 PALMA AVENUE • ATASCADERO, CA 93422
Building Permits:(80S)461.5040 Planning:(805)461.5035 Enfortemcnl:(805)461.5034 Director.(605)461-5097 City Fax:(605)461-0606
0001i7
'�Ir✓ . ..
�Y
M E - M O RAND UM
DATE: January 28 , 1992
TO: HENRY ENGEN
FROM: DEBBIE CINI
SUBJECT: CAMINO REAL FASHION OUTLET / FEE BREAKDOWN
BUILDING 1 : To construct a 78 , 473 sq. ft. retail building
Construction S 34 ,,371 . 17
Plan Check 8 , 145 . 97
Seismic 601 . 50
Ord 191 ( **SEE BREAKDOWN BELOW ) 158 , 044 . 62
Grading 11000 . 00
Tree Ord. 50 .00
TOTAL PERMIT FEE: $ 202 , 213 . 26
(** ) INSIDE URBAN SERVICE LINE: ORD 191 - DEVELOPEMENT FEE
Drainage ( 0 . 245 ) S 19 , 225 . 88 ***
St. . Roads ,Bridges ( 1 . 166 ) 91 , 499 . 51 ***
Public Safety ( 0 . 452 ) 35 , 469 . 79
Parks ( 0 . 128 ) 10 , 044 . 54
`fisc . ( 0 . 023 ) 1 , 804 . 87
BUILDING 2 : To construct a 10 , 594 sq. ft . commercial bldg
consisting of 6 , 834 sq. ft . retail and 3 , 760 sq. ft . :office space
Construction S 5 , 402 . 70
Plan Check 1 , 280 . 44
Seismic 94 . 55
Ord 191 ( **SEE BREAKDOWN BELOW) 21 , 336 . 32
TOTAL PERMIT FEE: $ 28 , 114. 01
(**) INSIDE URBAN SERVICE LINE: ORD 191 - DEVELOPMENT FEE
Drainage ( 0 . 245 ) $ 2 , 595 . 53***
St. ,Roads,Bridges ( 1 . 166 ) 12 , 352 . 60***
Public Safety (0 .452 ) 4 , 788 . 48
Parks ( 0. 128 ) 1 , 356 .03
Misc. ( 0.023 ) 243 . 66
Mitigation fees to be waived are highlighted by a- 125 ,673 .40
triple asteric *** and total --------------------
-o Gdcled b too"ej,
fi— 0 t.L�. cif' ( C".
��� .. 000178
ill+' ' y ',
tgg
#`t