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Subject
title
Term Sheet Agreement with the City of Newport Beach for the Potential Relocation of the Newport Transportation Center
overview
Overview
The Orange County Transportation Authority and the City of Newport Beach are conducting a joint feasibility study evaluating potential relocation of the Newport Transportation Center. The study was initiated in early February and is anticipated to be completed in November. To support continued coordination, the Orange County Transportation Authority and the City of Newport Beach are developing a proposed non-binding term sheet establishing a framework for future project development if a feasible relocation alternative is mutually identified.
recommendation
Recommendation(s)
Direct staff to continue negotiations and reach agreement on a non-binding term sheet between the Orange County Transportation Authority and the City of Newport Beach establishing a framework for continued coordination on the potential relocation of the Newport Transportation Center.