pages: CityCouncil/2009-03-03.pdf, 21
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CityCouncil | 2009-03-03 | 21 | requested continual updates on milestones. Mr. Marshall stated a Purchase and Sale Agreement could happen late spring and would start the Target processi a binding deal would not happen until the end of the year; pursuing a Target requires a significant amount of money. Chair Johnson stated looking at phasing adjustments makes sense; that she is not hearing that Catellus is giving up on the rest of the project Target is an important tenant. Mr. Marshall stated Catellus has an alternative first phase and views the project as mixed use. Mayor Johnson inquired what would be the projected Target revenues, to which the Base Reuse and Community Development Manager responded approximately $225,000. Commissioner deHaan inquired whether Target would be approximately 80,000 square feet, to which Mr. Marshall responded a little larger. Commissioner deHaan inquired whether Clif Bar is still a possibility. Mr. Marshall responded that Clif Bar is pursuing another opportunity on the Island and got caught up in the peanut recall. Commissioner Tam inquired whether Catellus has no funding for the Webster Street/Wilver "Willie" Stargell Project unless the Target project moves forward, at which point Catellus would be able to leverage and capitalize the infrastructure for the street or demolition and horizontal infrastructure to provide service for Target. Mr. Marhsall responded Catellus' obligation to complete improvements to support retail commences when demolition starts; the Webster Street/Wilver "Willie" Stargell Project is required to for retail; Catellus' commitment is commensurate to the amount of initial retail. Commissioner deHaan stated times are tough; open communication is very important; Catellus is important to the City. Mr. Marshall stated that Sean Whiskeman, Catellus Vice President, is a good resource for specific questions regarding retail. Special Meeting Community Improvement Commission 3 March 3, 2009 | CityCouncil/2009-03-03.pdf |