COMPLETED BOARD ORDER�"���29
Before the Board of Directors of the Redevelopment Agency in and for the
County of Monterey, State of California
Agreement No: A 11697
Acting as the Board of Directors of the Redevelopment Agency of the County of
Monterey:
a. Approve an Exclusive Negotiating Agreement ENA) with Monterey Downs,
L.L.C for the development of approximately 450 acres in the Parker Flats area
of the former Fort Ord; and
b. Direct the Auditor-Controller's Office and the County Administrative Office
to amend the FY 2009-10 Budget to increase revenues and appropriations in
Fund 173, Unit 8213 Fort Ord Redevelopment Project) by $40,000 4/5th vote
required).
Upon motion of Director Potter, seconded by Director Armenta, and carried by those members
present, the Board hereby:
a. Approved an Exclusive Negotiating Agreement ENA) with Monterey Downs, L.L.C for the
development of approximately 450 acres in the Parker Flats area of the former Fort Ord; and
b. Directed the Auditor-Controller's Office and the County Administrative Office to amend the
FY 2009-10 Budget to increase revenues and appropriations in Fund 173, Unit 8213 Fort
Ord Redevelopment Project) by $40,000 4/5th vote required).
PASSED AND ADOPTED this 11th day of May, 2010, by the following vote, to wit:
AYES: Directors Armenta, Calcagno, Salinas, Potter
NOES: None
ABSENT: Director Parker
I, Gail T. Borkowski, Clerk of the Board of Supervisors of the County of Monterey, State of California, hereby
certify that the foregoing is a true copy of an original order of said Board of Supervisors duly made and entered in
the minutes thereof of Minute Book 75 for the meeting on May 11, 2010.
Dated: May 13, 2010 Gail T. Borkowski, Clerk of the Board of Supervisors
County of Monterey, State of California
By /~ L /~
Deputy
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SIGNED BOARD REPORTX��"���BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE COUNTY OF MONTEREY a
MEETING: May 11, 2010 AGENDA NO.:
SUBJECT: Acting as the Board of Directors of the Redevelopment Agency of the County of
Monterey:
a. Approve an Exclusive Negotiating Agreement ENA) with Monterey
Downs, L.L.C for the development of approximately 450 acres in the
Parker Flats area of the former Fort Ord; and
b. Direct the Auditor-Controller's Office and the County Administrative
Office to amend the FY 2009-10 Budget to increase revenues and
appropriations in Fund 173, Unit 8213 Fort Ord Redevelopment Project)
by $40,000 4/5 vote required).
DEPARTMENT: RMA Redevelopment & Housing Office
RECOMMENDATION:
It is recommended that the Board of Supervisors, acting as the Board of Directors of the
Redevelopment Agency of the County of Monterey:
a. Approve an Exclusive Negotiating Agreement ENA) with Monterey Downs, L.L.C for
the development of approximately 450 acres in the Parker Flats area of the former Fort
Ord; and
b. Direct the Auditor-Controller's Office and the County Administrative Office to amend
the FY 2009-10 Budget to increase revenues and appropriations in Fund 173, Unit 8213
Fort Ord Redevelopment Project) by $40,000 4/5 vote required).
SUMMARY
The purpose of the ENA is to facilitate the negotiation of a future Disposition and Development
Agreement DDA) for development of a mixed use development including a maximum of 450
acres within the former Fort Ord.
DISCUSSION:
The Monterey County Redevelopment Agency first approved an ENA with Monterey Horse Park
group, a non-profit organization, including 375 acres in December 2005. The project proposed
development of a multi-discipline equestrian facility. Due to inability of the Horse Park group to
meet its obligations, the ENA expired in February 2009.
Following expiration of the ENA, a private development group, Monterey Downs, LLC has
advanced a modified development proposal for the area. The project proposal is to develop 450
acres with a privately-owned training facility, housing, a mixed use retail/commercial center with
a 6,500 seat covered arena, and a hotel. The original non-profit horse park concept has been
consolidated into one-quarter of the original site development program. The overall development
proposal includes property owned by Monterey Salinas Transit MST), the Army, in addition to
land located within the City of Seaside identified as the endowment parcel to be developed in
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SIGNED BOARD REPORTX��"���support of the Fort Ord Veterans Cemetery. Although the entire program will be evaluated as
part of the ENA process, future DDA Negotiations will be focused on parcels to be under the
ownership of the Redevelopment Agency.
The recommended ENA is divided into two phases. In Phase One, the developer will be
responsible for preparing a comprehensive project description and site development program,
market study, and development pro forma. The Agency will review this information to determine
whether or not the project is feasible. If the project is viable, the Agency will enter into Phase
Two of the ENA and negotiate a Disposition and Development Agreement DDA) including land
sale price, project phasing, and other issues. The ENA provides for a total negotiation period of
up to eighteen months.
OTHER AGENCY INVOLVEMENT:
The Fort Ord Subcommittee of the Board of Supervisors supports the recommendation. County
Counsel has reviewed the ENA and approved it as to form.
FINANCING:
The cost of negotiating the Exclusive Negotiating Agreement and DDA will be funded through
funds provided by the Monterey Downs Developer. The ENA provides for an initial deposit of
$300,000 to fund the Phase One negotiation process. All funds will be deposited into Fund 173,
Unit 8213. It is estimated that costs of processing the agreement will be $40,000 in the deposit,
$260,000 will be appropriated into the FY 2010-11 by separate action.
Prepared by:
Cook, 755-5390
development and Housing Director
Date: 5--7/34/-n
Attachments: Map of Land Use Plan with Trial Circulation and Connectivity; and
Exclusive Negotiation Agreement ENA)
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AGREEMENT - MONTEREY DOWNS LL��
�EXCLUSIVE NEGOTIATING RIGHTS AGREEMENT
Monterey Downs LLC)
This Exclusive Negotiating Rights Agreement Agreement") is entered into as of
this day of 2010 the Effective Date"), by and between the REDEVELOPMENT
AGENCY OF THE COUNTY OF MONTEREY, a public body, corporate and politic the
Agency"), and MONTEREY DOWNS, LLC, a California limited liability company the
Developer") on the basis of the following facts:
RECITALS
A. As endorsed by the Board of Directors of the Redevelopment Agency of the
County of Monterey, the Agency's goals and objectives include pursuing
redevelopment activities in the Fort Ord Redevelopment Project Area that
eliminate blight, are environmentally sensitive, support the Fort Ord Base Reuse
Plan infrastructure program and generate jobs, economic opportunities and land
sales revenues, in collaboration with potentially affected agencies and
organizations.
B. The Agency owns or will be conveyed that certain real property previously known
as Parker Flats and more particularly described in Exhibit A attached hereto the
Agency Parcels").
C. The Agency has received a preliminary proposal from Developer for the
development of a combination equestrian training facility, mixed use commercial,
office, retail, hotel, residential, light industrial and non-profit equestrian and
recreational facility on the Agency Parcels as well as other parcels collectively,
the Preliminary Proposal"). The general boundaries of the Preliminary Proposal
are shown on that map attached hereto as Exhibit B.
D. The Preliminary Proposal includes a component for the development of a non-
profit equestrian facility and park Horse Park") designed to promote the training
of equestrians and competition in international, national and regional equine
events. Additionally, it is the intent of the Horse Park to promote intercollegiate,
as well as public equestrian recreational activities that protect and preserve
habitat. The Preliminary Proposal contemplates that the lead in development of
the Horse Park component will be undertaken by the Monterey Horse Park, a
California nonprofit public benefit corporation.
E. After preliminary consideration of the Developer's Preliminary Proposal, the
Agency is willing to enter into this Agreement to negotiate with Developer on an
exclusive basis, to establish the terms and conditions of a Disposition and
Development Agreement DDA") to be proposed for consideration, which would
result in the Developer's acquisition and development of the Agency Parcels the
Project").
Monterey Downs LLC Page 1 of 19
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AGREEMENT - MONTEREY DOWNS LL��
�Project; ii) the physical and land title conditions of the Agency Parcels and remediation of any
adverse conditions. iii) the type of entitlements necessary for the Project, iv) possible phasing
for the disposition and development of the Project. v) the development schedule for the Project
including each phase thereof). vi) financing of the Project. and vii) lease or sale terms for the
Agency Parcels according to the California Community Redevelopment Law Health and Safety
Code Section 33000 et seq., the Redevelopment Law").
Section 1.2 Negotiating Periods. The Phase I negotiating period the Phase I
Negotiating Period") under this Agreement shall be nine 9) months, commencing on the
Effective Date. The Phase 1 Negotiating Period may be extended for up to an additional ninety
90) days by the Agency Executive Director or designee if, in the Executive Director's
judgment, sufficient progress has been made with regards to those tasks set forth in Article 2
below during the initial nine 9) month negotiating period to merit such extension. In the event
the Phase 1 Negotiating Period, as such period may be extended pursuant to the terms of this
Agreement, culminates in the Agency approving the preliminary development concept of the
Project on the Agency Parcels including a Preliminary Site Plan, Market Study demonstrating
market support for the Project, and a Financing Plan demonstrating the financial feasibility of the
Project, the terms of this Agreement shall be extended for the Phase 2 negotiating period
Phase 2 Negotiating Period") to negotiate the terms of a Disposition and Development
Agreement DDA") providing for the Developer to lease or purchase the Agency Parcels and
develop thereon the Project and securing entitlements.
The Phase 2 Negotiating Period shall be eighteen 18) months commencing from the
date of the Agency approval of the preliminary development concept and related submittals.
During the Phase 2 Negotiating Period, the parties shall complete those tasks set forth in Article
3 below.
Notwithstanding any provision herein to the contrary and provided this Agreement has
not been terminated earlier, if the parties cannot agree upon the terms of a DDA by the expiration
of the Phase 2 Negotiating Period then this Agreement shall terminate. Upon termination of this
Agreement, neither Party shall have any further rights or obligations under this Agreement.
Section 1.3 Exclusive Negotiations. During the Phase 1 Negotiating Period and the
Phase 2 Negotiating Period as such Negotiating Periods may be extended by operation of
Section 1.2), the Agency shall not negotiate with any entity, other than the Developer, regarding
development of the Agency Parcels, or solicit or entertain bids or proposals to do so.
Section 1.4 Identification of Developer' Representatives. Developer's representative
to negotiate with the Agency is Brian Boudreau.
Section 1.5 Developer Phase I Negotiating Period Payment. In consideration for the
exclusive right to negotiate during the Phase I Negotiating Period, Developer agrees to negotiate
in good faith and to pay Agency a deposit in the amount of Three Hundred Thousand Dollars
$300,000.00) the Payment") within five business days after the Effective Date. The Payment
shall be used by the Agency to cover costs incurred by the Agency related to the tasks set forth
herein, including staff costs, costs for outside consultants and legal costs and costs related to
Monterey Downs LLC Page 3 of 19
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AGREEMENT - MONTEREY DOWNS LL��
�a) Conceptual Development Program. Within one hundred twenty 120)
days of the execution of this Agreement, the Developer shall submit to the Agency, for its
review and approval: a breakdown of the proposed scope of development program for the
Agency Parcels, including a range of building square feet by land use and acreage by land use,
proposed development phasing schedule for entitlements, backbone infrastructure, and vertical
improvements, approximate number and mix of residential units, affordable housing units by
level of affordability, proposed public parks/amenities, circulation acreage, proposed commercial
tenancies and general uses for the Agency Parcels. A narrative and quantitative tabular
presentation of the proposed development program shall be provided. This conceptual
development program shall be based upon the conceptual outline as described in Exhibit C.
b) Market Study. Within one hundred twenty 120) days of the execution
of this Agreement, the Developer shall provide the Agency, for its review and approval, a
detailed market analysis for the Project demonstrating the marketability of each component of
the proposed conceptual development program. If appropriate, the findings of the market study
may be used to modify and refine the development concept.
c) Preliminary Site Plan. Within one hundred twenty 120) days of the
Effective Date of this Agreement, the Developer shall submit to the Agency, for its review and
approval, a preliminary site plan for the Project. The Preliminary Site Plan shall set out the
general location of the proposed buildings and landscaping, the massing of any proposed
buildings, roadways and points of ingress and egress and the general location of any other
proposed improvements to be constructed as part of the Development.
d) Roles and Responsibilities. Within one hundred twenty 120) days of
the Effective Date of this Agreement, the Developer shall submit to the Agency, for its review
and approval, an organizational chart of the Developer that corresponds to the proposed
Development Program. The chart shall identify which member of the Developer and/or
Development Team is responsible for: securing entitlements; completing backbone
infrastructure; completing each component of vertical improvements and operating various
components. The Developer shall also provide a narrative description of the Developer's
approach to developing the proposed project, including a discussion of the Developer's
objectives for spinning-off entitled land or improved land to other builders.
e) Preliminary Financing Plan and Development Pro Forma. Within two
hundred forty 240) days of the Effective Date of this Agreement, the Developer shall submit to
the Agency, for its review and approval, a preliminary financing plan for the proposed project.
The financing plan shall include a general estimate of the following:
A pro forma of backbone infrastructure costs;
A pro forma of entitlement costs;
A pro forma of vertical improvement costs for each land use;
A pro forma phasing schedule for entitlements, land take down, construction of
infrastructure improvements, sale of pads if applicable), construction of vertical
improvements, sale/lease of finished improvements;.
Monterey Downs LLC Page 5 of 19
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AGREEMENT - MONTEREY DOWNS LL��
�During the Agency review period the Developer shall cooperate with the Agency by
providing the Agency with requested information and revisions to the various submissions. The
Parties agree that the process of determining the appropriate parameters of the development for
the Agency Parcels requires a high degree of cooperation by the parties. The parties shall
mutually use best efforts to reach agreement on all efforts, including the Conceptual
Development Program, Preliminary Site Plan and Preliminary Financing Plan. If the Agency,
after diligent review of the Developer Submissions determines that the Project is infeasible or
fails to meet the Agency goals and objectives for development of the Agency Parcel the Agency
shall so inform the Developer and provide the Developer with the opportunity to modify the
Project such that the Project can be considered feasible with an additional time extension of 120-
days to modify the Project. If after said reconsideration the Agency determines the Project is
still infeasible, this Agreement shall terminate.
Section 2.6 Due Diligence. During the Phase I Negotiating Period if possible, but in
any event prior to the end of the Phase 2 Negotiating Period, the Developer shall conduct such
due diligence activities as Developer considers necessary, including but not limited to soils
report, hazardous materials report, and survey of the Agency Parcels to determine actual property
lines, and title adequacy.
As part of its due diligence, the Developer shall determine whether the Agency Parcels
are suitable for development of the Project, taking into account the presence or absence of toxic
or other hazardous materials, the massing of the proposed Project improvements and the parking
requirements imposed on developments of this type and the other environmental and regulatory
factors that the Developer deems relevant. If, in the Developer's judgment based on such
investigations and analyses, any portion of the Agency Parcels is not suitable for development,
the Developer shall notify the Agency in writing prior to the expiration of Phase 2 Negotiating
Period of its determination an Unsuitability Notice"). Upon delivery of an Unsuitability Notice
by the Developer, this Agreement shall be terminated without further action of any Party, and
thereafter no Party shall have any further duties, obligations, rights or liabilities under this
Agreement, except as set forth in Sections 4.3 and Section 4.6. If the Developer does not deliver
an Unsuitability Notice prior to the expiration of Phase 2 Negotiating Period, then the Agency
Parcels shall be deemed physically suitable for development of the Project and any executed
DDA shall not provide for an additional opportunity for the Developer to determine the physical
suitability of the Agency Parcels or for the Developer to terminate the DDA as a result of the
purported physical unsuitability of the Agency Parcels.
Section 2.7 Reports. Unless otherwise waived by the Agency, the Developer shall
provide the Agency with copies of all final reports, studies, analyses, official correspondence and
similar documents, but excluding confidential or proprietary information, prepared or
commissioned by the Developer with respect to this Agreement and the Project, promptly upon
their completion, and in both paper and electronic form as part of the formal submittal package
and addendums thereto.
While desiring to preserve its rights with respect to treatment of certain information on a
confidential or proprietary basis, the Developer acknowledges that the Agency will need
sufficient, detailed information about the proposed Project including, without limitation the
Monterey Downs LLC Page 7 of 19
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173,-U012
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FORT-U012
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PROJECT)-U012
BY-U012
$40,000-U012
4/5TH-U012
VOTE-U012
REQUIRED)-U012
AGREEMENT - MONTEREY DOWNS LL��
�b) Prevailing Wages. Developer shall comply with all applicable laws
including, without limitation. all applicable ordinances of the County), the applicable
redevelopment plan. and any and all applicable resolutions of the County and Agency.
Developer acknowledges that the County and Agency will require that prevailing wages shall be
paid to all contractors and workmen in connection with the construction of the Project.
c) Developer and Agency Responsibilities. Developer and Agency shall
negotiate and finalize the details of the respective rights, responsibilities and obligations of the
Developer and Agency in the disposition and development of the Agency Parcels pursuant to the
DDA, including such business terms as compensation for the conveyance of property, any public
assistance required for the Project. and such other terms as are reasonable, mutually agreeable
and based upon the Community Redevelopment Law.
Section 3.3 Sale/Lease Terms. The Parties agree that, if a DDA are executed, the
purchase price and/or lease rate for the Agency Parcels shall be based on an evaluation of the fair
reuse value of the Agency Parcels taking into account the restrictions and development
conditions imposed by the Agency in accordance with the Redevelopment Plan, all other
applicable requirements and restrictions on the use of the Agency Parcels related to the terms of
the Fort Ord Base Reuse Plan and conveyances from the Fort Ord Reuse Authority FORA"),
any restrictions imposed by any source of funding for the Development, any other limitations or
restriction on the use of the Agency Parcels.
Section 3.4 Environmental Review. The County or the Agency shall prepare or cause
to be prepared any environmental documentation required by the California Environmental
Quality Act CEQA") for consideration of approval of the DDA, the Development and actions
related thereto; provided, that nothing in this Agreement shall be construed to compel the
Agency or the County to approve or make any particular findings with respect to such CEQA
documentation. The Developer shall provide such information about the Development as may be
required to enable the Agency or the County to prepare or cause preparation and consideration of
any CEQA-required document, and shall otherwise generally cooperate with the Agency and the
County to complete this task. The County or the Agency shall enter into a contract with a
consultant to prepare the required environmental documentation no later than sixty 60) days
after the Agency approvals provided for in Section 2.5. The Developer shall be responsible for
all costs associated with the preparation of the required CEQA documentation, which costs shall
be paid from funds to be paid by the Developer as part of the Phase 2 Negotiating Period
Payment referenced in Section 1.6.The Agency and Developer shall work together to promote
the containment of costs while ensuring the timely preparation of adequate environmental
assessments. After selection of the consultant to prepare the required environmental
documentation the Agency and the Developer shall meet to determine the appropriate amount to
be required to ensure that funds are available when necessary to pay the costs associated with the
preparation of the CEQA documentation. It is acknowledged that neither the DDA nor
anticipated entitlements may be approved without certification of required environmental
documentation.
Section 3.5 Section 33433 Report. The Agency shall prepare the necessary
documentation pursuant to Section 33433(a)(2)(B) of the California Health and Safety Code to
Monterey Downs LLC Page 9 of 19
BIB]
40313-U01
AGREEMENT-U02
U02
MONTEREY-U02
DOWNS-U02
LLC-U02
LI21329-U03
FO21330-U03
FO85769-U03
FO86930-U03
MG86968-U03
AS86994-U03
AS87003-U03
AI91089-U03
DO91452-U03
C1-U03
GENERAL-U03
DOCUMENTS-U03
5/14/2010-U04
MUNOZP-U04
14952-U05
1-U06
ACTING-U07
AS-U07
BOARD-U07
OF-U07
DIRECTORS-U07
OF-U07
REDEVELOPMENT-U07
AGENCY-U07
OF-U07
COUNTY-U07
OF-U07
MONTEREY:-U07
294-HOUSING-U08
&-U08
REDEVLOPMENT-U08
TORRES-U09
KARINA-U09
TORRESK-U10
5/3/2010-U011
A. APPROVE-U012
AN-U012
EXCLUSIVE-U012
NEGOTIATING-U012
AGREEMENT-U012
ENA)-U012
MONTEREY-U012
DOWNS,-U012
L.L.C-U012
DEVELOPMENT-U012
OF-U012
APPROXIMATELY-U012
450-U012
ACRES-U012
IN-U012
PARKER-U012
FLATS-U012
AREA-U012
OF-U012
FORMER-U012
FORT-U012
ORD;-U012
B. DIRECT-U012
AUDITOR-CONTROLLER-U012
S-U012
OFFICE-U012
COUNTY-U012
ADMINISTRATIVE-U012
OFFICE-U012
TO-U012
AMEND-U012
FY-U012
2009-10-U012
BUDGET-U012
TO-U012
INCREASE-U012
REVENUES-U012
APPROPRIATIONS-U012
IN-U012
FUND-U012
173,-U012
UNIT-U012
8213-U012
FORT-U012
ORD-U012
REDEVELOPMENT-U012
PROJECT)-U012
BY-U012
$40,000-U012
4/5TH-U012
VOTE-U012
REQUIRED)-U012
AGREEMENT - MONTEREY DOWNS LL��
�With a courtesy copy to:
Horse Park: Monterey Horse Park
Attn: Anne Cribbs, Executive Director
2450 Agnes Way
Palo Alto, California 94303
Fax: 650) 852-9383
Notice shall be deemed satisfied within one 1) business day if provided by personal service.
Notice shall be deemed satisfied within three 3) business days if provided by certified mail.
Either Agency or Developer may change such address by notifying the other Party in writing as
to such new address as Developer or Agency may desire used and which address shall constitute
as the address until further written notice.
Section 4.4 Waiver of Lis Pendens. It is expressly understood and agreed by the
Parties that no lis pendens shall be filed against any portion of the Agency Parcels with respect to
this Agreement or any dispute or act arising from it.
Section 4.5 Right of Entry. The Agency shall cooperate with the Developer to provide
the Developer the right to enter upon the Agency Parcels, as necessary, for purpose of
conducting investigations to further the objectives of this Agreement pursuant to a written right
of entry, to be prepared by the Agency, and executed by the Parties.
Section 4.6 Indemnification. The Developer shall indemnify, defend, and hold the
Agency and County harmless from any and all costs, expenses, losses, claims, liabilities,
damages and causes of action arising out of Developer's entering into or performing this
Agreement and/or Developer's failure to perform any obligation of Developer under this
Agreement. The Developer's obligations under the preceding sentence shall survive the
expiration or earlier termination of this Agreement.
Section 4.7 Costs and Expenses. Except as specifically provided in this Agreement,
each Party shall be responsible for its own costs and expenses in connection with any activities
and negotiations undertaken in connection with this Agreement, and the performance of each
Party's obligations under this Agreement.
Section 4.8 No Commissions. The Agency shall not be liable for any real estate
commissions or brokerage fees that may arise from this Agreement or any DDA or Ground
Lease resulting from this Agreement. Each Party represents that it has engaged no broker, agent
or finder in connection with this transaction, and each Party shall indemnify, defend, and hold
harmless the other Party from any claim by any broker, agent or finder retained by the other
Party.
Monterey Downs LLC Page 11 of 19
BIB]
40313-U01
AGREEMENT-U02
U02
MONTEREY-U02
DOWNS-U02
LLC-U02
LI21329-U03
FO21330-U03
FO85769-U03
FO86930-U03
MG86968-U03
AS86994-U03
AS87003-U03
AI91089-U03
DO91452-U03
C1-U03
GENERAL-U03
DOCUMENTS-U03
5/14/2010-U04
MUNOZP-U04
14952-U05
1-U06
ACTING-U07
AS-U07
BOARD-U07
OF-U07
DIRECTORS-U07
OF-U07
REDEVELOPMENT-U07
AGENCY-U07
OF-U07
COUNTY-U07
OF-U07
MONTEREY:-U07
294-HOUSING-U08
&-U08
REDEVLOPMENT-U08
TORRES-U09
KARINA-U09
TORRESK-U10
5/3/2010-U011
A. APPROVE-U012
AN-U012
EXCLUSIVE-U012
NEGOTIATING-U012
AGREEMENT-U012
ENA)-U012
MONTEREY-U012
DOWNS,-U012
L.L.C-U012
DEVELOPMENT-U012
OF-U012
APPROXIMATELY-U012
450-U012
ACRES-U012
IN-U012
PARKER-U012
FLATS-U012
AREA-U012
OF-U012
FORMER-U012
FORT-U012
ORD;-U012
B. DIRECT-U012
AUDITOR-CONTROLLER-U012
S-U012
OFFICE-U012
COUNTY-U012
ADMINISTRATIVE-U012
OFFICE-U012
TO-U012
AMEND-U012
FY-U012
2009-10-U012
BUDGET-U012
TO-U012
INCREASE-U012
REVENUES-U012
APPROPRIATIONS-U012
IN-U012
FUND-U012
173,-U012
UNIT-U012
8213-U012
FORT-U012
ORD-U012
REDEVELOPMENT-U012
PROJECT)-U012
BY-U012
$40,000-U012
4/5TH-U012
VOTE-U012
REQUIRED)-U012
AGREEMENT - MONTEREY DOWNS LL��
�Section 4.15 No Third Partv Beneficiaries. This Agreement is made and entered into
solely for the benefit of the Agency and the Developer and no other person shall have any right
of action under or by reason of this Agreement.
Section 4.16 Actions By The Agency. Whenever this Agreement calls for or permits
the approval, consent. authorization or waiver of the Agency, the approval, consent,
authorization or waiver of the Director of the Redevelopment and Housing Office shall constitute
the approval, consent, authorization or waiver of the Agency without further action of the
Agency Board.
Monterey Downs LLC Page 13 of 19
BIB]
40313-U01
AGREEMENT-U02
U02
MONTEREY-U02
DOWNS-U02
LLC-U02
LI21329-U03
FO21330-U03
FO85769-U03
FO86930-U03
MG86968-U03
AS86994-U03
AS87003-U03
AI91089-U03
DO91452-U03
C1-U03
GENERAL-U03
DOCUMENTS-U03
5/14/2010-U04
MUNOZP-U04
14952-U05
1-U06
ACTING-U07
AS-U07
BOARD-U07
OF-U07
DIRECTORS-U07
OF-U07
REDEVELOPMENT-U07
AGENCY-U07
OF-U07
COUNTY-U07
OF-U07
MONTEREY:-U07
294-HOUSING-U08
&-U08
REDEVLOPMENT-U08
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KARINA-U09
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5/3/2010-U011
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AN-U012
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OF-U012
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IN-U012
PARKER-U012
FLATS-U012
AREA-U012
OF-U012
FORMER-U012
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AUDITOR-CONTROLLER-U012
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OFFICE-U012
COUNTY-U012
ADMINISTRATIVE-U012
OFFICE-U012
TO-U012
AMEND-U012
FY-U012
2009-10-U012
BUDGET-U012
TO-U012
INCREASE-U012
REVENUES-U012
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AGREEMENT - MONTEREY DOWNS LL��
�EXHIBIT A
Redevelopment Agency Property at Parker Flats
Monterey Downs LLC Page 15 of 19
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40313-U01
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5/3/2010-U011
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AGREEMENT - MONTEREY DOWNS LL��
�EXHIBIT C
Monterey Downs Conceptual Outline
I'h~,e wlrantcr~.,Do% ns and I lorsL� l'arl, en~.~>m~ t sea vtpnr;l?:inlatl', 50 acre. \ppro.:imately
St.,-acrc- of this properi. Is ire cr4'e i-lahltar that A 111 not he Ue~elcped. Of Lhe cn uintll? lOh
acre`;. approx1171auel' it4re t`, located in the It' or Weasldc. and 350 acres wttlltn the ountt
L)( Monte,,-e\ The vIontere' I)tAyn and I W, e Park coriLluns styes] CDlnhonenn creattne a
w ili:tee' as required under the M RA Master i'lan. The crirnpnnents acre:
1, VIonterew Do vns Trajninee Facility
2. Mixed II se Pedestrian Vi ll t.te k:mown as oI.Intrw L\alk
Sports Arena
4. Monterey Horse Park
Public Horse Suihlin t
6. Single Family I lousitlt within the County ofM~fonterey
7. Sind I s iiK f-1 rusrnc +:within t:h. it% c1i'S_1 do
Nelontercw Dciwwn.s Trainin<e Facility
The current design for the blontercv Downs Training Facility includes a ont-mile track
on which horses can train to run in races at other tracks, Th traininu center will be modeled
after Del Mar Thoroughbred Club in Del Mar. California with a proposed water feature in the
middle of the track tthe in-liekfj in which reclaimed water can he stored to be used to irrig=ate the
property, The track and infleid are designed to fit on approximately 52-acres of land.
Additionally. a 120.000 square foot grandstand is proposed. Also. the backstretch area of the
training facility- is designed to fit on approximately 30-acres. Within the backstretch area
approximately 1.000 stalls and 157 low-low income worker housing units are planned as wvell.
These worker housing units arc proposed as a combination of dorm-style and single apartments
designed for the workers of the track who must live on-site. Also. 26-acres are intended to be
used Or parking for visitors to the trairlinc facility. l irtaliw. it is anticipated that approxirnatel'r
25.000 square feet of industrial type buildings will be set aside to hold equipment necessary to
maintxain the grounds of the Training Facility and Horse Park.
fixed Use Pedestrian Vi!la~-,c knowvn as Cnuntr, \ Valk
Untrv Walk is expected to he app ooximateiv 150,00(I square 1`.e-et on ilpproxllnttlek25-
acre.s. It is ccrrrenrlw designed to Ile a pedestrian lnlw viiii,,_e wwitl a lwtll�;wwa down the center
and buildings on neither We. The first and second io rs Of the buildin s are pi mn d f=or
commercial space. ww'ith apprt'-wlmatek 21)0 o-beam m aparinielltS and U.0f0 square Iccl Of
otiiee space above the connneretal area. Additi':,nalt'. i"t' tee Standing apartment Kuildtne`s
with Aril Cher It)ti t'~o-ncdroorn Ipar:rncn1. each. Hr a total of 40(1 w. ll dr"}i?i11 aj il[I711int L111 f,"
rirc also planned N ithin ountrv Bulk. A O-r10111 hotel is tt'sta�'neu Al g'ilt' end of
l.ir?liiitr
IN to orovide a ceo'etuent place to lta` for visitors tO the Nlonter�"\ D o.\"ns and I louse Park as
1,yell as i theatre conlplcs. f acre. of park ne arc ititt_nAca to Ke used Or iatrl< n Or-
visitors to orintra 1S alk,
Monterey Downs LLC Page 17 of 19
BIB]
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�nd Use Plan with Tz iC Circulation a
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2009-10-U012
BUDGET-U012
TO-U012
INCREASE-U012
REVENUES-U012
APPROPRIATIONS-U012
IN-U012
FUND-U012
173,-U012
UNIT-U012
8213-U012
FORT-U012
ORD-U012
REDEVELOPMENT-U012
PROJECT)-U012
BY-U012
$40,000-U012
4/5TH-U012
VOTE-U012
REQUIRED)-U012