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City of Oxnard staff recommend exclusive negotiations with Dynamic Real Estate Partners for Riverpark parcel
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Summary
City housing staff presented an exclusive negotiation agreement to begin talks with Dynamic Real Estate Partners LLC over an undeveloped Riverpark-area parcel (APN 1320033010), recommended a 12-month ENA with one 12-month extension option, and said any final sale or development would require council approval and land-use review.
City of Oxnard housing staff on the dais recommended the council authorize the mayor to enter an exclusive negotiation agreement (ENA) with Dynamic Real Estate Partners LLC to negotiate the possible disposition and commercial development of a vacant Riverpark-area parcel, APN 1320033010.
David Mechis, project manager with the housing department, told the council the parcel was declared surplus on 02/01/2022 as part of a larger surplus declaration of 53 properties. Mechis said the City followed the state Surplus Land Act process and initially offered the site to preferred public and affordable housing buyers; no transaction resulted. Two commercial proposals were received during the process, and one proposer previously entered negotiations that did not produce a sale.
Mechis said the City engaged Coldwell Banker Richard Ellis to market the site and that Dynamic Real Estate Partners, the developer of adjacent property, submitted a letter of intent to acquire and develop the site for commercial use. Housing staff recommended executing an ENA with Dynamic for a term of 12 months, with a one-time option to extend for an additional 12 months, to negotiate and prepare a disposition agreement that would set price and terms for any acquisition and development.
"Housing staff recommends executing an exclusive negotiation agreement with Dynamic for a term of 12 months," Mechis said. He emphasized that the ENA would only authorize negotiations and would not constitute approval of any project. Final approval of a disposition agreement and any proposed development would require separate City Council action and the City's land-use approval process.
Mechis also said staff intends to return with an amendment to the River Park Specific Plan to replace the site's current public facilities designation with a commercial regional designation; the public facilities designation was added on 07/20/2009 via Amendment 8 to allow a public works facility that was never built. Mechis repeated that approval of the ENA would not presuppose council approval of any specific plan amendment or development proposal.
The presentation did not record a formal motion or vote on the ENA within the provided transcript. According to Mechis, if the Council approves the ENA authorization, staff will begin negotiations with Dynamic and later bring a disposition agreement and any specific plan amendment back to the council for formal consideration and possible approval.
