Heritage Professional Center

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Heritage Professional CenterDevelopment Agreement:• Achieve long-term economic and social goals• Ensure that the intent of the C-F zone is preserved by prohibiting

certain land uses that would otherwise be allowed w/in the C-G zone (i.e. entertainment uses and automobile repair garages).

• Developer shall construct a minimum of 7.5 acres of the property for commercial/retail development (As Revised on the Errata Sheet).

• Phase 3 Retail – Shall be developed w/ at least 80% of the total building s.f. of businesses where 75% of their income is sales tax or transient occupancy tax.

• Tax Exemption Restrictions – Ensures that the City will receive an annual payment of the full property tax value if the tenant or developer receives a property tax exemption.

City of Chino Hills City Council presentation January 22, 2009


Heritage Professional Center

Development Agreement• Achieve long-term economic and social goals• Ensure that the intent of the C-F zone is preserved by prohibiting

certain land uses that would otherwise be allowed w/in the C-G zone (i.e. entertainment uses and automobile repair garages).

• Developer shall construct a minimum of 7.5 acres of the property for commercial/retail development (As Revised on the Errata Sheet).

• Phase 3 Retail – Shall be developed w/ at least 80% of the total building s.f. of businesses where 75% of their income is sales tax or transient occupancy tax.

• Tax Exemption Restrictions – Ensures that the City will receive an annual payment of the full property tax value if the tenant or developer receives a property tax exemption.



Development Agreement Achieve long-term economic

and social goals Prohibit certain land use Guaranteed commercial/retail

development 80% reserved for businesses Tax exemption restrictions

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Revised Economic Analysis:KMA prepared a revised comparative economic analysis for the project which included assessments of:

1. Annual property tax, sales tax, and transient occupancy tax (TOT) revenues allocated to the City General Fund and generated by the respective developments;

2. New resident equivalents created as a result of the daytime workforce jobs generated by the development and added to the resident equivalent population of the City; and

3. Annual General Fund service costs to be generated by the new resident equivalents.





Revised Economic AnalysisKMA assessments included:

Revenue from property tax, sales tax, occupancy tax

New resident equivalents from daytime workforce jobs

Annual General Fund service costs generated by new residents

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Planning Commission Actions

The Planning Commission had questions regarding:

1. The economic analysis and the viability of locating two hotels adjacent to one another (one hotel located at Heritage Professional Center and one hotel located on the adjacent project to the northwest, The Golden Triangle).

2. The Planning Commission also had concerns regarding parking due to the adjacent Chino Hills High School. The applicant had stated that they will provide onsite security at the AM and PM peak hours of the high school and any special events. Therefore, the Planning Commission added a Condition of Approval to the project to require that the applicant provide on-site security and signage to restrict High School parking on their property.

The Planning Commission recommended approval of the project to the City Council with a unanimous vote 5-0.




Planning Commission ActionsQuestions remain regarding:

Viability of locating two hotels adjacent to one another

Concerns about parking due to the adjacent Chino Hills High School.The Planning Commission recommended approval of the project to the City Council with a unanimous vote 5-0.

Documents

Heritage Professional Center