REPORT TO COUNCIL AND SUCCESSOR AGENCY
SUBJECT
Title
Adopt Resolutions of the City Council and the Successor Agency Approving a Compensation Agreement to Allow the Transfer of Certain Properties Used for Public Parking from the Successor Agency to the City, and Authorizing the City Manager to Take All Actions Necessary to Implement the Compensation Agreement
Report
BACKGROUND
The Successor Agency to the Sunnyvale Redevelopment Agency owns three public parking garages within the former redevelopment project area known as the Sunnyvale Town Center (within Block 18 of the Downtown Specific Plan). The activities of the Successor Agency are overseen by the Santa Clara County Oversight Board, which was put in place after the state abolished Redevelopment Agencies in 2012. The garages are the Successor Agency's only remaining property and must be transferred to the City so the Successor Agency can be dissolved. To transfer the property, the City must enter into a "compensation agreement" with Santa Clara County and all of the affected Taxing Entities (other government agencies). After extended discussions, County staff agreed to recommend approval of the draft compensation agreement in Attachment 3. Although titled a "compensation" agreement (the term used in the redevelopment dissolution law), this agreement does not require the City to provide monetary compensation.
EXISTING POLICY
Community Vision Goal IX: Dynamic Downtown: To create and support a strong and attractive traditional downtown which serves as the community's central marketplace, common gathering place and symbolic center.
Land Use and Transportation Policy LT-12.6: Create a strong, identifiable downtown that offers regional and citywide shopping opportunities and entertainment.
Downtown Specific Plan Policy C-1.4 Provide adequate access to parking in the Downtown while promoting trip reduction through parking management practices.
ENVIRONMENTAL REVIEW
The proposed actions are not a "project" that...
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