2020-11-17 CC Agenda Packet - ITEM #B8 - PRESENTATION - EA 1279CITY OF
ELSE GUNDO
Plaza EI Segundo &
The Point
EA 1279 and DA 20-01
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Property: 51.7 acres
Building: 501,000 square
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Subject Request
Sales tax generating uses (retail)
Vs.
Non sales tax generating uses (non -retail)
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12/3/2020 City of EI Segundo 1 350 Main St. EI Segundo, CA 90245 3
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0
Plaza EI Segundo
Use Area
Current
actual %
Allowed
% Proposed
Sales Tax Uses
329,351
85.0%
80% 60%
Non -Sales Tax
31,429
8.1%
20% 40%
Vacant
26,607
6.9%
Current Allowed
The Point Use Area actual % %
Sales Tax Uses 73,110 64.3% 65% 60%
Non -Sales Tax 35,649 31.4% 35% 40%
4.85914.3%
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Plaza El Segundo
Use Area
Current
actual %
Allowed
%
Proposed
Sales Tax Uses
329,351
85.0%
80%
60%
Non -Sales Tax
31,429
8.1%
20%
40%
Vacant
26,607
6.9%
Current Allowed
The Point Use Area actual % %
Sales Tax Uses 73,110 64.3% 65% 60%
Non -Sales Tax 35,649 31.4% 35% 40%
4,$5914.3%
12/3/2020
Financial Analysis (Kosmont Report)
Major findings
• Gradual decline of sales tax revenue
• Online sales are displacing retail sales
• Shopping centers are changing the mix of uses
Peer review
• Agreement with the general findings of the Kosmont
Report
12/3/2020
City of EI Segundo 1 350 Main St. EI Segundo, CA 90245
7
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Planning Commission review
• October 22, 2020 meeting
• Planning Commission in favor of request
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12/3/2020 City of EI Segundo 1 350 Main St. EI Segundo, CA 90245 8
Conclusion and Recommendation
• Conclusion:
• The amendment will help the shopping center succeed
• The project will benefit the City fiscally
• Recommendation:
• Adopt resolution approving amendment to project
conditions
• Introduce ordinance approving amendment to
Development Agreement
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12/3/2020 City of EI Segundo 1 350 Main St. EI Segundo, CA 90245 9
The end
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12/3/2020 City of EI Segundo 1 350 Main St. EI Segundo, CA 90245 10