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<br />environmental impacts, vehicular access, etc. Ultimately, staff assumes review of this facility <br />will run concurrent with the Staples development and be integrated when appropriate and intends <br />to pursue discussions with the SPA, traffic consultants and EIR consultants regarding this matter. <br /> <br />SUMMARY <br /> <br />Because this project is not currently included in the City Council's annual work plan, staff is <br />requesting Council direction at this time. While the Sharks development concept requires <br />extensive review and planning, it does potentially offer a range of community benefits that may <br />warrant further consideration. As a result, staff is recommending it be authorized to conduct a <br />review process. Staff anticipates its first order of business will be to review access issues and <br />develop a financial framework including a general land lease terms and any park improvements <br />required for the development. Staff anticipates providing Council with critical deal points and <br />issues as the project progresses. <br /> <br />To facilitate the review, staff proposes to involve the Parks and Recreation Commission for <br />facilitating the public process. Further, because the proposed facility could impact park use, it is <br />important for the Commission to begin the park planning process in the context of all potential <br />park uses. Finally, staff intends to involve all affected parties including the Sharks, the SPA, <br />which has interest in the 17-acre site for future commercial development and Continuing Life <br />Communities, which has expressed an interest in programming a portion of the park in a way the <br />is conducive to its proposed continuing care community. <br /> <br />FISCAL IMPACT <br /> <br />There is no financial impact as a result of this recommendation. However, depending on the <br />financial terms of the deal, there may be a fmancial impact. However, staff does not anticipate <br />an expenditure of City funds or an involvement with project financing. As a result, financing <br />will most likely be limited to a long term below market land lease. <br /> <br />:?~;;l- <br /> <br />Steven Bocian <br />Assistant City Manager <br /> <br />()0J0~~l}-- <br /> <br />David P. Culver Nelson Pialho <br />Finance Director City Manager <br /> <br /> <br />Respectfully Submitted, <br /> <br />Attachment A - Concept site renderings <br /> <br />SR 06:231 <br />Page 4 <br />