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1 RiversideCA.gov1
RiversideCA.govSEVENTH AMENDMENT TO THE EXCLUSIVE NEGOTIATING AGREEMENT WITH GREENS DEVELOPMENT, INC. FOR THE RIVERSIDE ALIVE PROJECTCity Council Meeting June 10, 2025COMMUNITY & ECONOMIC DEVELOPMENT DEPARTMENT RiversideCA.gov2
BACKGROUND
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•September 18, 2018: RFP for the 7.6-acre mixed-use site, known as Riverside Alive–Including: convention center expansion, hotel, retail, office, residential, public amenities, and parking•May 7, 2019: Greens Development Inc selected and an Exclusive Negotiating Agreement (ENA) approved–Development of hotel rooms, residential units, retail, office space, a public amphitheater, amenities, and supporting parking•2021-2023: Amendments to the original 2019 (2 year) ENA to allow time and consideration of Economic conditions1 2 5/29/2025
2 RiversideCA.gov3
ENVIRONMENTAL REVIEW•June 2023 – June 2025:Extension to align the ENA and the environmental review.–Study the maximum envelope of the project concept–Conduct broad technical studies–Identify potential impacts –Inform the Council and Development team.–Streamline the project going forward.
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DISCUSSION•February 29, 2024: Webb & Associates begins work on EIR•October 15, 2024: Notice of Preparation released •October 23, 2024: Scoping meeting •May 23, 2025: Draft EIR released for the required 45-day review period. 3 4
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RECOMMENDATIONSThat the City Council:1. Approve the Seventh Amendment to the Exclusive Negotiating Agreement with Greens Development, Inc. for the Riverside Alive project to extend the contract term from June 22, 2025, through June 22, 2026; and2. Authorize the City Manager, or designee, to execute the Seventh Amendment to the Exclusive Negotiating Agreement with Greens Development, Inc., including making minor and non-substantive changes. 5