TO: Honorable Mayor and Members of the City Council
FROM: Tom Kisela, City Manager
1. SUBJECT
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Agreement with Kosmont & Associates, Inc. for economic development advisory services.
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2. SUMMARY
Agreement with Kosmont & Associates, Inc. to analyze the feasibility of proposed development in the West Katella Avenue area and on an as-needed basis.
3. RECOMMENDED ACTION
recommendation
1. Approve the agreement with Kosmont & Associates, Inc. in the amount of $50,000 for economic development advisory services; and authorize the Mayor and City Clerk to execute on behalf of the City.
2. Authorize the following budget transfer:
From: 952.9810.56020.20247 NW & SW Merged 2003 Taxable Bonds SAORA Capital $50,000
To: 952.9810.51670.20541 NW & SW Merged 2003 Taxable Bonds West Katella District $50,000
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4. FISCAL IMPACT
The estimated expenditure for this agreement is $50,000 and will be funded through:
952.9810.51670.20541 NW & SW Merged 2003 Taxable Bonds West Katella District $50,000
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
b: Analyze future fiscal needs and potential revenue opportunities.
6. DISCUSSION AND BACKGROUND
The West Katella Avenue area is bounded by the Santa Ana River on the west, the water channel on the south, Batavia Street on the east, and the properties on the northside of Katella Avenue on the north. Although the area is surrounded by industrial development on three sides, its close proximity to the Honda Center, Anaheim Regional Transportation Intermodal Center (ARTIC), and Santa Ana River create the potential to develop a visitor serving entertainment and hospitality district. Recognizing this development potential, several years ago the City Council re-zoned many of the properties in the area with an urban mixed-use zoning that provides flexibility for property owners to develop a mix of commercial, hospitality, and residential uses in response to market conditions.
Just across the Santa Ana River in A...
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