CITY OF FULLERTON
May 17, 2022
NFRED LLC
610 Newport Center Drive, Suite 1520
Newport Beach, CA 92660
Attention: Dan Almquist, Managing Partner
Dear Mr. Almquist:
The City Council approved an Exclusive Negotiation Agreement with Frontier Real Estate Investments (NFRED) (“Developer”) for an initial 12-month period of exclusive negotiations for the development of the Fox Block. The ENA Agreement was executed on May 21, 2020.
The Negotiation Period (as described in the ENA) was automatically extended for two additional 6-month extensions, for a total 12-month extension, pursuant to the terms of the ENA through and including May 21, 2022, as memorialized by letters from the City dated May 20, 2021 and November 16, 2021, respectively. The developer has been working with City staff over the entire 2-year Negotiation Period, which includes the submittal of an application for a Master Site Plan and the negotiating of terms and conditions for a Disposition and Development Agreement and/or similar agreement(s) (DDA), for the development of specified properties (APNs) subject to the ENA. Additionally, the developer has engaged in environmental review for the proposed project, including the review of parking sufficient for the Master Site Plan as proposed.
Section II Negotiation Period in the ENA provides in pertinent part:
In no event shall the period comprised of the Initial Negotiation Period and any six (6) month extension authorized herein (the "Total Negotiation Period") exceed two (2) year without the approval of the Fullerton City Council.
Given the clear progress of the developer and the City staff towards a project, and the soon-anticipated submittal of a DDA and/or similar agreements to the City Council for consideration, the City Council approved by Minute Action one final extension of the Negotiation Period in the ENA for the following properties: APNs 029-033-03, 04, 05, 06 (referred to as the Pomona Parking Lot or Pomona Lot); APNs 029-033-09, 27, 28 (referred to as the Ellis Parking Lot, which is subject to an enforceable obligation with the former Fullerton Redevelopment Agency), and APN 029-032-21 (referred to as the Triangle Lot). The City Council approved the Negotiation Period such that it may exceed the two (2) year period set to expire on May 21, 2022 and approved the Negotiation Period to be extended through and including December 31, 2022.
Pursuant to the authority granted by the City Council to the City Manager, this letter memorializes the above-referenced extension of the ENA through and including December 31, 2022 and is hereby integrated into the ENA.
Sincerely,
Eric J. Levitt, City Manager
City of Fullerton
THE EDUCATION COMMUNITY
303 West Commonwealth Avenue, Fullerton, California 92832-1775 (714) 738-6598 Fax (714) 738-3110 Website: www.cityoffullerton.com