Carousel Mall negotiations nearing an end
City, development company close to agreement on terms of sale, development
San Bernardino and the development team selected to overhaul the Carousel Mall are close to executing an agreement allowing the two parties to negotiate and establish deal points, terms and conditions for the sale and development of the 43-acre shopping center.
The Exclusive Negotiating Agreement, or ENA, is tentatively scheduled
to go before the City Council on June 16.
Such pacts typically span six months, but can be extended if need be based on good faith and progress.
Once all parties agree on the specifics, city staffers will draw up a Disposition and Development Agreement, or DDA, to solidify the sale and development of the Carousel Mall property.
On March 3, the City Council chose the team of Renaissance Downtowns USA and ICO Real Estate Group (RDICO) to redevelop the former gemstone of the city's central corridor.
Councilman Juan Figueroa was the only elected official to oppose the move.
Since then, San Bernardino officials and RDICO representatives have had biweekly meetings to discuss myriad topics related to the much-anticipated project.
According to meeting notes provided to city leaders ahead of the June 2 council meeting, RDICO representatives have discussed the future of the site with the San Bernardino Area Chamber of Commerce, the San Manuel Band of Mission Indians, the Inland Empire Regional Chamber of Commerce and most San Bernardino council members.
RDICO officials also have met with county Supervisor Joe Baca Jr., Assembly Majority Leader Eloise Gómez Reyes, D-Grand Terrace, and Assemblyman James Ramos, D-Highland, as well as a local neighborhood association, the Environmental Justice Coalition and downtown property and business owners.
On April 14, city officials led RDICO representatives on a tour of the Carousel Mall, the Woolworth Building and several other downtown properties to assess any potential for redevelopment or repurposing portions of the existing properties, according to the meeting notes.
Renaissance Downtowns USA and ICO have proposed converting the Carousel Mall site into a lively, walkable downtown hub with distinct districts.
The firms also want to redevelop other areas downtown to create a comprehensive corridor.
“Given its unique characteristics,” RDICO project manager Ernesto Hidalgo said in a May news release, “San Bernardino has the potential to transform development patterns for the entire region by demonstrating how a disinvested community can be reinvented in a manner that includes all the City's residents and businesses alike.”