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CM2018-045 CROSSROADS MARKETPLACE - STATUS UPDATE4 City of Chino Hills DATE: July 11, 2018 MEMORANDUM TO: Honorable Mayor and City Couricil FROM: Konradt Bartlam, City Mana Crossroads Marketplace — Sta4- RE:us Update CM2018-045 During the past year, the City has been working with the acting receiver for the Crossroads Marketplace to correct a damaged slope and water line at the rear of the center. This work has required that truck access to the rear of the center be restricted. Staff understands that following the repair of the slope, the center will be offered for sale. During this same time, the City, with assistance of ILL, our economic development consultant, has reached out to the remaining big box tenants to secure their location in Chino Hills. This has been a challenge given the diminished condition of the center and the further inconvenience to deliveries, as trucks have been restricted during slope and water line repairs. ILL indicates that BevMo is moving to the Chino Spectrum. The lease for Bed Bath and Beyond has been renegotiated, although, like many big box stores, their sales continue to decline. PetSmart has expressed interest in relocating, but they appear to be approaching a potential move slowly. Dollar Tree has not indicated an interest in moving from the Crossroads Marketplace. Nevertheless, ILL continues to work with the acting receiver for the center to secure existing and new tenants, and staff continues to ensure the slope and water line are corrected. Should you have any questions, please contact me or Community Development Director Joann Lombardo. KB:JL:mh