FOURTH BALLPARK AND REDEVELOPMENT PROJECT IMPLEMENTATION AGREEMENTFourth Ballpark and Redevelopment Project Implementation Agreement • May 5th, 2020
WHEREAS, on November 3, 1998, the electorate of the City of San Diego [City] approved Ordinance No. O-18613 [Ordinance] which authorized and directed the City to enter into a Memorandum of Understanding [MOU] with the San Diego Padres [Padres], the Redevelopment Agency of the City of San Diego [Agency], and the Centre City Development Corporation [CCDC] Concerning a Ballpark District, Construction of a Baseball Park, and a Redevelopment Project within the Centre City East (East Village) Redevelopment District of the Expansion Sub Area of the Centre City Redevelopment Project; and
Note: Capitalized terms not defined in this Report or the Agreement are defined in the MOUFourth Ballpark and Redevelopment Project Implementation Agreement • March 9th, 2020
Issue: Should the City Council authorize the City Manager to execute the Fourth Ballpark and Redevelopment Project Implementation Agreement to provide for: a) the redesign and reconfiguration of the Outfield Park and the Outfield Park Retail Parcels (commonly, East Village Square) to be reflected in an Amended Parcel Map; b) a reimbursement payment in the total amount of $4 million (including an interest component of $500,000) by the Redevelopment Agency to the Padres for that portion of the Outfield Park Retail Parcels to be used for the reconfigured Outfield Park; c) certain development parameters for East Village Square, including the Candy Factory and Schieffer Building, and specification of certain financial considerations and transferee qualifications related to transfers of the Outfield Park Retail Parcels; d) guidelines with respect to the Agency's obligation to capitalize property and possessory interest taxes for the Padres; and, e) resolution of other matters relating to the
