Contracts & Agreements_106A-2025

Home Browse Search

FUNDING AGREEMENT FOR PROFESSSIONAL ENVIRONMENTAL REVIEW SERVICES FOR A PRIVATE PROJECT This funding agreement for professional environmental review services ("Agreement") is made and entered into this 5a' day of June, 2025 ("Effective Date"), by and between the City of Redlands, a municipal corporation (hereinafter "City") and Regency Centers Acquisition, LLC, a Florida limited liability company (hereinafter "Applicant"). City and Applicant are sometimes individually referred to herein as a "Party" and, together, as the "Parties." RECITALS WHEREAS, Applicant has filed an application with City for a proposed various commercial and retail buildings consisting of a major 36,000 square foot grocery anchor, four multi -tenant shop buildings and one drive through use (the "Project") located at the northeast corner ofLugonia Avenue and Tennessee Street (APN's: 0167-171-16-0-000, 0167-171-11-0-000, and 0167-171-12-0-000).which requires environmental review pursuant to the California Environmental Quality Act ("CEQA"); and WHEREAS, City, as Lead Agency, has determined that an Initial Study (the "IS") for the Project will be required pursuant to Section 15063 of the State CEQA Guidelines; and WHEREAS, the IS will be prepared by a consultant approved by and under contract to City; and WHEREAS, by executing this Agreement, Applicant expressly agrees to advance payment for all costs and expenses the City incurs in the preparation of the IS related to Applicant's Project and for any associated investigations, environmental studies, and documents permitted or required by CEQA or other federal or state law in connection with the processing of Applicant's Project (collectively, the `Environmental Documents"); NOW, THEREFORE, in consideration of the mutual promises contained herein, the City of Redlands and Regency Centers Acquisitions, LLC agree as follows: AGREEMENT Section 1. Funding Obligation. Within ten (10) days of the date of written request of City, Applicant shall deposit the sum of ninety-four thousand fifty-two dollars ($94,052) (the "Deposit") with City to engage a professional consultant who will commence work on the Environmental Documents. The present estimated cost of the Environmental Documents is estimated to be Eighty -Five Thousand Five Hundred Two Dollars ($85,502), and the contract administration fee is set at Eight Thousand Five Hundred Fifty Dollars ($8,550). Applicant acknowledges that Applicant is obligated by this Agreement to pay to City the full, actual cost for the preparation of the Environmental Documents, as deemed reasonable or necessary by City, to ensure the legal sufficiency of the Environmental Docruments. The Deposit will be applied towards the actual total cost of the Environmental Documents. Applicant shall thereafter make payments 1 r:\cmo\Agreements\Regency Centem Acquisition, LLC Funding Agreement FY25-0086,doex-ms