10/22/2024
1 RiversideCA.gov
1 RiversideCA.gov
LICENSE AGREEMENT WITH STAFFORD LLC
FOR USE OF A PORTION OF CITY-OWNED LAND KNOWN
AS THE RIVERSIDE WATER COMPANY CANAL FOR A
TWENTY-YEAR TERM WITH THREE FIVE-YEAR OPTIONS TO
EXTEND – TOTAL REVENUE OF $213,490.78
CITY COUNCIL
November 19, 2024
Community & Economic Development
Department
RiversideCA.gov
2 1. On May 23, 1961, a Final Order of Condemnation
was hereby ordered, adjudged and decreed in
favor of the City for the Riverside Water Company.
This included Assessor’s Parcel Number 225-350-070.
2. August 1, 2013, City entered into a license
agreement with Cole LA Riverside, LP, which allowed
the Licensee to cross over the canal to access their
parking.
BACKGROUND
1 2
10/22/2024
2 RiversideCA.gov
3 1. The Canal was formerly used for conducting, supplying, and distributing irrigation water to and for the use of the city.
2. The canal is currently used for the operation and
maintenance of an underground irrigation pipeline.
3. Cole LA Riverside, LP sold their property to Stafford, LLC which automatically terminated their License Agreement with the conclusion of the sale.
DISCUSSION
RiversideCA.gov
4 4. The new agreement with Stafford, LLC covers the
portion of the Canal that is shared with Tava Center
for parking.
5. The term for the Agreement is 20 years with three 5- year options to extend.
6. Based on the approved canal rate of $0.66/sf,
consideration will begin at $8,786.58 with annual
increases at 2%.
DISCUSSION
3 4
10/22/2024
3 RiversideCA.gov
5 1. Approximately 13,313
square feet (highlighted in
yellow).
2. Directly adjacent to 3437
Arlington Avenue owned
by Stafford, LLC (outlined
in red).
LICENSED AREA
RiversideCA.gov
6 STRATEGIC PLAN ALIGNMENT
5 6
10/22/2024
4 RiversideCA.gov7
That the City Council:1. Approve the License Agreement with Stafford, LLC for use of a portionof the Riverside Water Company Canal, also known as Assessor's ParcelNumber 225-350-070, for a twenty-year term with three (3) five-yearoptions to extend – estimated total revenue of $213,490.78; and2. Authorize the City Manager, or his designee, to execute the LicenseAgreement, including making minor and non-substantive changes, andto sign all documents necessary to complete the transaction.RECOMMENDATIONS7