City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: JUNE 10, 2025 FROM: COMMUNITY & ECONOMIC DEVELOPMENT WARD: 1
DEPARTMENT
SUBJECT: SEVENTH AMENDMENT TO THE EXCLUSIVE NEGOTIATING AGREEMENT WITH GREENS DEVELOPMENT, INC. TO EXTEND THE CONTRACT TERM ONE YEAR THROUGH JUNE 22, 2026 FOR THE RIVERSIDE ALIVE PROJECT, BEARING PORTIONS OF ASSESSOR PARCEL NUMBERS 213-113-001, 213-111-011, -012, -013, -015, -016 AND -017, GENERALLY LOCATED ALONG ORANGE STREET BETWEEN 3RD AND 5TH STREETS ISSUE:
Approve the Seventh Amendment to the Exclusive Negotiating Agreement with Greens Development, Inc. for the Riverside Alive project to extend the contract term one year through June 22, 2026.
RECOMMENDATIONS:
That the City Council:
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; and 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.
BACKGROUND:
On September 18, 2018, the City issued a Request for Proposal (RFP) for a 7.6-acre site in downtown Riverside for mixed-use development, now known as Riverside Alive. The project includes the expansion of the Riverside Convention Center, hotels, retail, residential, office, public amenities, and parking.
On May 7, 2019, the City Council selected the proposal of Greens Development Inc. and on September 23, 2019, authorized entering into an Exclusive Negotiating Agreement (ENA) to negotiate the terms and conditions for the private development portion of Riverside Alive to include hotel rooms, residential units, retail space, commercial offices, a public amphitheater, and other amenities as well as parking to support these uses.
As this process has continued to be refined and defined, there have been several amendments to the agreement to allow for time for these conversations and communication to take place. The timeline for these amendments is as follows:
First Amendment - September 2021 – March 2022
Second Amendment - March 2022 – September 2022
Third Amendment - September 2022 – March 2023
Fourth Amendment – March 2023 – June 2023
Fifth Amendment – June 2023 – December 2023
Sixth Amendment – December 2023 – June 2025
In June 2023, the City Council directed staff to extend the negotiations for the Riverside Alive project to allow for final negotiations on deal points and to facilitate the environmental analysis and clearance for the project. The timing for this amendment was anticipated to be for a period of two years to allow adequate time for the environmental review to be conducted while finalizing the negotiations of deal points and terms.
The benefit of completing the environmental review at this time allows technical studies and evaluation of the broadest possible aspects of the project to be completed. The studies will identify potential environmental impacts early in the process and analyze options for the City Council to consider during this discussion phase. This proactive approach allows the City Council to have as much information ahead of a final plan for the development, entitlement and construction phases. This strategy allows the City to move forward in a streamlined fashion while obtaining important information on options for consideration early.
Staff anticipated the environmental process to take up to eighteen months to complete and built in the few months needed for the proposal, selection, and procurement of an environmental consultant. To ensure continuity and avoid any gap in the ENA, a Fifth Amendment was prepared to cover the first six months, from June 2023 to December 2023. The Sixth Amendment covered the remainder of the expected contract term to complete the overall directed timeframe of two years and is set to expire in June 2025.
DISCUSSION:
Webb & Associates was selected on January 25, 2024, as the technical consultant to support the environmental process which commenced on February 29, 2024. With a finalized project description and preparation initial study, the Notice of Preparation was released on October 15, 2024, with the scoping meeting taking place on October 23, 2024. Staff and the consultant team have been working diligently on all aspects of the Environmental Impact Report (EIR) analysis, including technical studies, tribal consultation, exhibit creation including maps and renderings, and drafting of the narrative and proposed mitigation measures. The public review of the Draft EIR is anticipated for the end of May 2025. After public review, the EIR will be presented to the Planning Commission for recommendation, and the City Council for certification.
The ENA needs to align with the environmental process. The EIR is anticipated to be completed within the next twelve months, necessitating the additional time and proposed seventh amendment request to the agreement. The proposed extension would expire June 22, 2026.
STRATEGIC PLAN ALIGNMENT:
This item contributes to the Envision Riverside 2025 City Council Strategic Priority 3 – Economic Opportunity and, more specifically, Goal 3.3: Cultivate a business climate that welcomes innovation, entrepreneurship, and investment.
This item aligns with each of the five Cross-Cutting Threads as follows:
Community Trust: The Riverside Alive Project has incorporated public involvement by way of an open session/community forum.
Equity: The Riverside Alive Project is designed to benefit the community and promote economic growth and development within the City.
Fiscal Responsibility: Riverside is a prudent steward of its property and public resources.
Innovation: Riverside is committed to collaborative partnerships, such as those with Greens Development, Inc., to ensure potential successful development of the Riverside Alive project.
Sustainability and Resiliency: The private development of the Riverside Alive Project and partnership with Greens Development Inc. demonstrates the City’s commitment to a sustainable and resilient built environment for City-owned properties that will comply with the latest green building standards and demonstrate a carbon-neutral impact on the environment.
FISCAL IMPACT:
There is no fiscal impact associated with the action to extend the agreement term for one additional year as this is an extension of the agreement with no additional compensation.
Prepared by: Brieanna Brown, Senior Administrative Analyst Approved by: Jennifer A. Lilley, Community & Economic Development Director Certified as to
availability of funds: Kristie Thomas, Finance Director/Assistant Chief Financial Officer Approved by: Mike Futrell, City Manager
Approved as to form: Rebecca McKee-Reimbold, Interim City Attorney Attachments:
Seventh Amendment to the Exclusive Negotiating Agreement with Greens Development, Inc.
Presentation
7th Amendment to ENA - Page 1