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Home My WebLink About01212012 25TH STREET PPEAUnsolicited PPEAUnsolicited PPEA Public Private Education Public Private Education Facilities and Infrastructure Act Facilities and Infrastructure Act {{ City Parking Lot 25City Parking Lot 25StreetStreet thth Breeden CompanyBreeden Company BackgroundBackground PPEA Unsolicited Proposal received September 26, 2011 PPEA Unsolicited Proposal received September 26, 2011 ?? from Breeden Company for the development of the City from Breeden Company for the development of the City Parking Lot at 25Parking Lot at 25 thth StreetStreet Qualifying project component: Increased public parking at Qualifying project component: Increased public parking at ?? the Resort Areathe Resort Area Includes Includes ?? 141 Residential Apartments141 Residential Apartments ?? “I“I--Fly” Indoor sky diving facilityFly” Indoor sky diving facility ?? 600 space parking garage600 space parking garage ?? Increase of approximately 200 public parking spacesIncrease of approximately 200 public parking spaces ?? Development Value for the entire development is Development Value for the entire development is ?? approximately $31,500,000. approximately $31,500,000. Project Development is contingent on approval of Form Project Development is contingent on approval of Form ?? Based Code ZoningBased Code Zoning SiteSite ARCTIC AVE 2600 - 2605ARCTIC AVE 2600 - 2605ARCTIC AVE 2600 - 2605ARCTIC AVE 2600 - 2605ARCTIC AVE 2600 - 260526TH ST 305 - 39926TH ST 305 - 39926TH ST 305 - 39926TH ST 305 - 39926TH ST 305 - 399 ATLANTIC AVE 2500 - 2508 ATLANTIC AVE 2500 - 2508ATLANTIC AVE 2500 - 2508ATLANTIC AVE 2500 - 2508 ATLANTIC AVE 2500 - 2508 25TH HALF ST 200 - 299 25TH HALF ST 200 - 29925TH HALF ST 200 - 29925TH HALF ST 200 - 299 25TH HALF ST 200 - 299 26TH ST 400 - 499 26TH ST 400 - 49926TH ST 400 - 49926TH ST 400 - 499 26TH ST 400 - 499 PACIFIC AVE 2500 - 2505 PACIFIC AVE 2500 - 2505PACIFIC AVE 2500 - 2505PACIFIC AVE 2500 - 2505 PACIFIC AVE 2500 - 2505 •Existing City Parking Lot 25TH HALF ST 300 - 399 25TH HALF ST 300 - 39925TH HALF ST 300 - 39925TH HALF ST 300 - 399 25TH HALF ST 300 - 399 25TH ST 200 - 299 25TH ST 200 - 29925TH ST 200 - 29925TH ST 200 - 299 25TH ST 200 - 299 25TH HALF ST 400 - 499 25TH HALF ST 400 - 49925TH HALF ST 400 - 49925TH HALF ST 400 - 499 25TH HALF ST 400 - 499 •244 Public Parking Spaces ARCTIC AVE 2500 - 2505 ARCTIC AVE 2500 - 2505ARCTIC AVE 2500 - 2505ARCTIC AVE 2500 - 2505 ARCTIC AVE 2500 - 2505 PACIFIC AVE 2412 - 2499 25TH ST 300 - 399 25TH ST 300 - 39925TH ST 300 - 39925TH ST 300 - 399PACIFIC AVE 2412 - 2499PACIFIC AVE 2412 - 2499PACIFIC AVE 2412 - 2499 PACIFIC AVE 2412 - 2499 25TH ST 300 - 399 •2.18 Acres 25TH ST 400 - 405 25TH ST 400 - 40525TH ST 400 - 40525TH ST 400 - 405 25TH ST 400 - 405 25TH ST 406 - 414 25TH ST 406 - 41425TH ST 406 - 41425TH ST 406 - 414 25TH ST 406 - 414 ARCTIC AVE 2412 - 2499 ARCTIC AVE 2412 - 2499ARCTIC AVE 2412 - 2499ARCTIC AVE 2412 - 2499 ARCTIC AVE 2412 - 2499 •Zoned RT-3 and A-12 ALLEY 0 - 0 ALLEY 0 - 0ALLEY 0 - 0ALLEY 0 - 0 ALLEY 0 - 0 24TH HALF ST 300 - 399 24TH HALF ST 300 - 39924TH HALF ST 300 - 39924TH HALF ST 300 - 399 24TH HALF ST 300 - 399 ARCTIC AVE 2400 - 2411 ARCTIC AVE 2400 - 2411ARCTIC AVE 2400 - 2411ARCTIC AVE 2400 - 2411 ARCTIC AVE 2400 - 2411 24TH HALF ST 407 - 474 24TH HALF ST 407 - 47424TH HALF ST 407 - 47424TH HALF ST 407 - 474 24TH HALF ST 407 - 474 PACIFIC AVE 2300 - 2399 PACIFIC AVE 2300 - 2399PACIFIC AVE 2300 - 2399PACIFIC AVE 2300 - 2399 PACIFIC AVE 2300 - 239924TH ST 200 - 299 24TH ST 200 - 29924TH ST 200 - 29924TH ST 200 - 299 24TH ST 200 - 299 ALLEY 0 - 0 ALLEY 0 - 0ALLEY 0 - 0ALLEY 0 - 0 ALLEY 0 - 0 24TH ST 0 - 0 24TH ST 0 - 024TH ST 0 - 024TH ST 0 - 0 24TH ST 0 - 0 • Site MapSite Map HistoryHistory Prior to acceptance of the Unsolicited Prior to acceptance of the Unsolicited PPEAPPEAProposal, which was received Proposal, which was received ?? September 26, a staff team reviewed the contents of the Proposal to determine September 26, a staff team reviewed the contents of the Proposal to determine whether the plan included a qualifying purpose in accordance with the review whether the plan included a qualifying purpose in accordance with the review process as identified in “City of Virginia Beach Procedures Regarding Requests process as identified in “City of Virginia Beach Procedures Regarding Requests Made Pursuant to the PublicMade Pursuant to the Public--Private Education Facilities and Infrastructure Act of Private Education Facilities and Infrastructure Act of 2002” as Adopted by City Council of Virginia Beach June 24, 2003, Re2002” as Adopted by City Council of Virginia Beach June 24, 2003, Re--Adopted Adopted July 7, 2009. July 7, 2009. The preliminary review team included representatives from the City Attorney’s The preliminary review team included representatives from the City Attorney’s ?? Office, Economic Development, Planning Department, SGA/Resort Office, and Office, Economic Development, Planning Department, SGA/Resort Office, and Purchasing Division.Purchasing Division. City accepted the Unsolicited Proposal on October 13, 2011.City accepted the Unsolicited Proposal on October 13, 2011. ?? A public notice advertisement requesting competing proposals was advertised in A public notice advertisement requesting competing proposals was advertised in ?? the Virginia Pilot and the City’s SGA website. The advertisement provided 90 the Virginia Pilot and the City’s SGA website. The advertisement provided 90 days (close date of January 24, 2012) for a proposal at the 25days (close date of January 24, 2012) for a proposal at the 25 thth Street location Street location with public parking as the required qualifying use but also include mixed used with public parking as the required qualifying use but also include mixed used development concepts such as was provided in the Unsolicited Proposal. development concepts such as was provided in the Unsolicited Proposal. No competing conceptual proposals were received.No competing conceptual proposals were received. ?? Next Steps Next Steps ––Detailed StageDetailed Stage Staff recommends the Staff recommends the PPEAPPEAprocess move to the process move to the ?? “Detailed Stage,” to allow the Breeden Company the “Detailed Stage,” to allow the Breeden Company the opportunity to provide additional information.opportunity to provide additional information. “Detailed Stage” identifies detailed submittal requirements “Detailed Stage” identifies detailed submittal requirements ?? such as:such as: Design and engineeringDesign and engineering ?? Costs , fiscal impacts and detailed analysis of the financial Costs , fiscal impacts and detailed analysis of the financial ?? feasibility of the project. feasibility of the project. Overall business plan and business entitiesOverall business plan and business entities ?? Next Steps Next Steps ––Detailed StageDetailed Stage Evaluation at the Detailed Stage includes:Evaluation at the Detailed Stage includes: ?? Qualifications and ExperienceQualifications and Experience ?? Project CharacteristicsProject Characteristics ?? Project FinancingProject Financing ?? Project Benefit and CompatibilityProject Benefit and Compatibility ?? The Detailed Stage may result in an Interim and/or The Detailed Stage may result in an Interim and/or ?? Comprehensive Agreement as defined by the Virginia Comprehensive Agreement as defined by the Virginia Code and the City’s Code and the City’s PPEAPPEAProcedures. Procedures. Next Steps following Detailed StageNext Steps following Detailed Stage If the If the Detailed Stage provides a pathway toward a Comprehensive Detailed Stage provides a pathway toward a Comprehensive ?? Agreement, Agreement, the process is as follows:the process is as follows: Council is briefed on the Council is briefed on the Detailed Stage, which will provide the basis for Detailed Stage, which will provide the basis for ?? a resulting Comprehensive Agreementa resulting Comprehensive Agreement A public hearing will be scheduled to allow public input on the A public hearing will be scheduled to allow public input on the PPEAPPEA ?? process.process. Prior to approval, a proposed comprehensive agreement must be Prior to approval, a proposed comprehensive agreement must be ?? posted for a minimum of 30 days posted for a minimum of 30 days to allow public review of its contents.to allow public review of its contents. If a transfer of property is required for the Comprehensive Agreement, If a transfer of property is required for the Comprehensive Agreement, ?? the public hearing and transfer ordinance will be placed on Council’s the public hearing and transfer ordinance will be placed on Council’s schedule.schedule. Once Once the the above requirements are above requirements are met the met the Council will be provided a Council will be provided a ?? resolution approving the material terms of the Comprehensive resolution approving the material terms of the Comprehensive Agreement and direct the City Manager to execute the Agreement. Agreement and direct the City Manager to execute the Agreement. Preliminary Plan Preliminary Plan Oceanfront Form Based CodeOceanfront Form Based Code Deferred until March 14, 2012 Planning Deferred until March 14, 2012 Planning ?? CommissionCommission March 14, the Planning Commission indefinitely ? defer action Planning Commission Liaisons: Jay Planning Commission Liaisons: Jay BernasBernasand and ?? Ron RipleyRon Ripley Staff is continuing to revise Staff is continuing to revise Code and Code and distribute distribute ?? to Stakeholder to Stakeholder GroupsGroups Goal is to get to Planning Commission in May Goal is to get to Planning Commission in May ?? and back to Council for action by Julyand back to Council for action by July Developer’s goal is to start construction in Developer’s goal is to start construction in ?? October 2012October 2012