108-RDA Annual Report.pdf
OFFICE OF ADMINISTRATIVE SERVICES
CITY HALL
10300 TORRE AVENUE •CUPERTINO, CA 95014-3202
(408) 777-3220 • FAX (408) 777-3109
MEMORANDUM
To:City Council
CC:Dave Knapp, Carol Atwood
From:David Woo, Finance Director
Subject:Cupertino Redevelopment AgencyAnnual Report
Date:December 7, 2010
Listed below is a summary of Cupertino Redevelopment Agency’s 2009-10 activities.
Properties and Loans
The Agency had no outstanding loansand owned no properties.
2009-10 Redevelopment Agency Accomplishment and Blight Progress Report
Provided Facilitation for the following Development Activities:
Rose Bowl Project (204 condominiums, 60k retail sq.ft.): Foundation and podium are
nearing completion. Super structureis on hold pending financing.
Additional Activity:
In September of 2009 the mall owners, Orbit Resources, foreclosed on the mall property,
and the primary lender, Gramercy took control.
In October 2009, a new ownership group purchased the property and changed the name
from Cupertino Square back to Vallco Mall.
Attended the California Redevelopment annual Conference and Expo in March, 2010 and
participated on a panel focused on the future of retail development.
N/A