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Colony Plaza targets build out over next five years

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POSTED February 13, 2012 12:39 a.m.

RIPON – Developers for Colony Plaza are hoping to build out the commercial area in the next five years.

They were granted a five-year extension at the Ripon City Council last Tuesday, thus, staying locked in the same development fee schedule initially adopted in 2005.

The commercial area – included is two parcels – is located at Colony Road between Jack Tone Road and Goodwin Drive, and adjacent to Highway 99.

Included is Save Mart, Jack-in-the-Box / Chevron, Carl Jr., United Growth Center (Starbucks, Subway), La Quinta Inn, Hong Center (Truckers Exam, Discount Liquor), McDonald’s Restaurant, and a still-under-construction ARCO station.

The extension, according to project manager Don Armstrong of Donahue Schriber, was necessary to help bring in the right tenants while allowing for an acceptable occupancy level.

“Without the extension, the new fee schedule would put a financial hardship on both owner and potential tenants, leaving our center partially dark and extremely difficult, if not impossible, for existing tenants to make it in this market without new tenants to bring in additional foot traffic and customers,” he said in last November’s letter to the city.

The previous agreement was for 10 years and set to expire this June 7.

“Like all development agreements, conditions of development was negotiated and agreed upon for development entitlements, including development fee structures,” said Ken Zuidervaart, City of Ripon’s director of planning.

He added: “Since that time, a development fee schedule was adopted and recently amended (for) more accurate fees in relation to development impacts to the city.”

All told, this new fee schedule – for commercial properties – comes out to about 58 percent higher than the old one.

The extension provided some hope for the future.

“If the agreement had expired, we wouldn’t have the capital to cover cost,” Armstrong said.

With developers locked into the lower fees, council members had concerns about the loss of potential funds. But they greatly supported business.

“That’s the chance you take when you’re locked in a 10-year program,” said Zuidervaart, who noted that fee schedule is revisited every five years. “You win some, you lose some.”

 

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