HomeMy WebLinkAbout25120RESOLUTION NO. 25120
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING THE
SETTLEMENT AND DEVELOPMENT AGREEMENT BY
AND BETWEEN THE CITY OF PALM SPRINGS AND
SELENE PALM SPRINGS LLC RELATED TO THE
DEVELOPMENT OF THE DREAM HOTEL PROJECT
WHEREAS, On March 6, 2013, the City and Selene Palm Springs LLC
("Developer") entered into a Purchase and Sale Agreement ("PSA") and a related
Services Agreement ("SA") for the purpose of developing and maintaining the Dolce Hotel
Project ("Hotel"); and
WHEREAS, the PSA identified the terms and conditions for the City's conveyance
of the Property to the Developer, including a performance schedule that identified
deadlines for: (1) entitlements; (2) close of escrow; (3) start of construction; and (4)
opening date of the Hotel; and
WHEREAS, the PSA has been amended eleven times over the past 10 years and
the amendments have modified numerous terms and conditions of the sale, the
development schedule, and other matters; and
WHEREAS, the 11th Amendment was entered into February 2020 just prior to the
start of the Covid 19 Pandemic; and
WHEREAS, the 11th Amendment extended the schedule of performance to provide
the Developer with a brief period to finalize revisions to the proposed project. Shortly after
entering into that Amendment the pandemic interrupted the ongoing course of business
and, as a force majeure event, tolled the timeframes under the existing amended PSA;
and
WHEREAS, over the ensuing two years the Developer has put forth the project
before the Council for consideration at this public meeting; and
WHEREAS, with amendments to the Project and the passage of time, many of the
provisions in the PSA were no longer applicable to the Project so to clarify the obligations
of the Parties, including but not limited to the schedule for the development, the City and
Developer negotiated the Settlement and Development Agreement to facilitate the
development of the Project.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. That the foregoing Recitals are true and correct and are incorporated
herein by this reference.
SECTION 2. The Settlement and Development Agreement is approved in
Resolution No. 25120
Page 2
substantially final form, subject to minor modifications approved by the City Manager and I
City Attorney, and the City Manager is authorized to execute said Agreement.
SECTION 3. CEQA. On July 18, 2007, the City Council adopted Mitigated
Negative Declaration (MND) No. 2006109032 for the previously approved project. In
2017, in accordance with California Environmental Quality Act (CEQA) Guidelines
Section 15162, the City prepared a Subsequent Initial Study/Mitigated Negative
Declaration (IS/MND) for the amended project and appropriate mitigation measures were
incorporated to ensure that the amended project would have a less than significant impact
on the environment. In addition to the mitigation measures included in the MIND,
conditions of approval have been included in support of the Mitigated Negative
Declaration. Given the scope of the current proposed changes to the Project, further
environmental review is not required.
ADOPTED THIS 5T" DAY OF JUNE 2023.
Scott C. Stiles, City Manager
ATTEST:
Brenda ree, City Clerk
Resolution No. 25120
Page 3
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
CITY OF PALM SPRINGS) -
CERTIFICATION
ss.
I, BRENDA PREE, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 25120 is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on June 5, 2023, by the following
vote:
AYES: Councilmembers deHarte, Holstege, Middleton; Mayor Pro Tern Bernstein; and
Mayor Garner
NOES: None
ABSENT: None
RECUSED: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of Palm Springs, California, this day of June 2023.
Brenda Pree, MMC, CERA, City Clerk
City of Palm Springs, California