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HEALD
Sources: City of Lake Elsinore, County of Riverside
City of Lake Elsinore
Aerial View
RDA Owned Properties´0 0.0090.0045 Miles IDs 3 - 7, 37
Map ID #3, #4, #5, #6 & #7: Governmental Purpose – Cultural Center/Downtown Parking
APN: #3: 373-023-011
#4: 373-023-012
#5: 373-023-015
#6: 373-023-024
#7: 373-023-025
Address: #5 – 132 E. Heald, Lake Elsinore
#6 – 154 N. Main, Lake Elsinore
#7 – 150 N. Main, Lake Elsinore
Lot Size: #3 - .13 acre
#4 - .16 acre
#5 - .19 acre
#6 – 1.06 acre
#7 - .12 acre
Land Use/Zoning: Downtown Master Plan
#3; #4; #5 High Density Residential;
#6; #7 Commercial Mixed Use
Acquisition Date (AD): 3/20/09
Acquisition Purpose: Public Parking Cultural Center/Historic Downtown
Business Incubator / Lake Elsinore Technology Center Site
Purchase Price/Value @ AD: $1,238,000
Est. Current Value: Unknown
Est. revenues & contract
obligations re revenues:
None
Environmental
Contamination History:
Phase I environmental assessment conducted in 2009 – no history of
environmental contamination.
Potential transit oriented
development (TOD) and
advancement of Successor
Agency planning objectives:
The property is located at the boundary of the Cultural and Historic
Districts of the Downtown Master Plan across from the Cultural Center
as part of the “Key to Downtown” Implementation Plan. These planning
tools were funded in part by the former Redevelopment Agency and
federal and state grants. Development and rehabilitation pursuant to
the Downtown Master Plan and implementing documents are important
goals and objectives of the former Redevelopment Agency under the
Redevelopment Plan for the Rancho Laguna Redevelopment Project
Area No. I and the Agency’s 2009-2014 Redevelopment & Housing
Implementation Plan.
History Previous
Development
Proposals/Activity:
Prior to acquisition by the Agency in 2009, the property was leased by
the Agency for public parking for the Cultural Center and other
downtown uses. The property has for more than 20 years and continues
to be the designated parking area for all public meetings conducted at
the Cultural Center. The property was acquired for the Business
Incubator/Lake Elsinore Technology Project which was subsequently
tabled in the wake of the Dissolution Act and loss of tax increment
funds. Prior to the dissolution of the Redevelopment Agency, plans
were prepared and approved for parking lot improvements to the
property as an interim improvement pending construction funding for
the Business Incubator/Lake Elsinore Technology Center Project.
Proposed Use/Disposition: The Site is strategically located across from the Cultural Center and
offers public parking critical to the success of the downtown and the
viability of the Cultural Center as the City’s meeting facility. Public
parking in the Historic Downtown District is essential to achieving the
overall redevelopment goals of revitalizing the downtown area
consistent with the Redevelopment Plan for the Rancho Laguna
Redevelopment Project No. I and the Downtown Master Plan. The
implementation of the Downtown Master Plan and the acquisition,
rehabilitation and expansion of downtown parking are projects listed in
the Redevelopment Plan for the Rancho Laguna Redevelopment
Project Area No. I and the Agency’s 2009-2014 Redevelopment &
Housing Implementation Plan. The Business Incubator/Lake Elsinore
Technology Center Project is also identified in the Agency’s 2009-2014
Redevelopment & Housing Implementation Plan as an Agency project
in the Rancho Laguna Redevelopment Project Area No.1. Although the
dissolution of the Redevelopment Agency and consequential loss of tax
increment funding led to the suspension of this project, the parcels
should be retained for governmental purpose and conveyed to the City
to complete the interim parking improvements to ensure continuity of
downtown/Cultural Center parking.
Notes: Consideration should also be given to whether the parcels should be
designated as “Public/Institutional.”
W hile the City lacks sufficient financial resources to pursue the
Business Incubator Project at this time, the Successor Agency will enter
into a compensation agreement with the affected taxing entities prior to
any future construction of such City-sponsored economic development
project. .