HomeMy WebLinkAbout25278RESOLUTION NO. 25278
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING THE
ASSIGNMENT AND ASSUMPTION OF THE SUBDIVISION
IMPROVEMENT AGREEMENT (24N193) AND SECURITIES
FOR TRACT MAP 38049 BY SISTER CITY INVESTMENTS,
INC., A CALIFORNIA CORPORATION, FROM AG LAND
INVESTMENTS LLC, A CALIFORNIA LIMITED LIABILITY
COMPANY, FOR PROPERTY LOCATED AT 2700 E ALEJO
ROAD, IN SECTION 12, TOWNSHIP 4 SOUTH, RANGE 4
EAST.
WHEREAS, the Planning Commission of the City of Palm Springs, at its meeting
of February 23, 2022, recommended conditional approval of Tentative Tract Map
38049, subject to conditions; and
WHEREAS, the City Council of the City of Palm Springs, (hereinafter the "City"),
at its meeting of March 24, 2022, approved Tentative Tract Map 38049 subject to
the conditions set forth by the Planning Commission; and
WHEREAS, the Planning Commission of the City of Palm Springs, at its meeting
of March 27, 2024, recommended approval of the extension of time application
received; and
WHEREAS, the City, at its meeting of April 25, 2024, approved the extension of
time application; and
WHEREAS, the City, at its meeting of July 25, 2024, adopted Resolution No.
25237, approving Tract Map 38049 and a related Subdivision Improvement
Agreement, (Agreement No. 24N193), with AG Land Investments LLC, a California
limited liability company, (hereinafter the "Former Developer"), in accordance with
Section 66462 of the California Government Code; and
WHEREAS, in accordance with Section 4.1 of the Subdivision Improvement
Agreement, the Former Developer was required to submit subdivision
improvement securities in the amount of $477,500 to guarantee construction of
certain public improvements required for and associated with Tract Map 38049,
(the "Works of Improvement"); and
WHEREAS, the Former Developer filed with the City Clerk a performance bond in
the amount of $315,000, labor and materials (payment) bond in the amount of
totaling $158,000, and a monumentation bond in the amount of $4,500 in
accordance with the Subdivision Improvement Agreement; and
WHEREAS, Sister City Investments, Inc., a California corporation ("Owner")
acquired the associated property from the Former Developer; and
Resolution No. 25278
Page 2
WHEREAS, the required Works of Improvements have not yet been completed by
the Former Developer or Owner, the Owner has requested that the City enter into
a new Subdivision Improvement Agreement with the Owner to secure the cost of
public improvements in accordance with Section 66462 of the California
Government Code; and
WHEREAS, in accordance with Section 4.1 of the new Subdivision Improvement
Agreement, the Owner has submitted replacement subdivision improvement
securities in the same amount of $477,500 to guarantee construction of the Works
of Improvement; and
WHEREAS, the City Engineer recommends that the City Council accept the
assignment and assumption of the Subdivision Improvement Agreement and the
related subdivision improvement securities by the Owner from the Former
Developer, and recommends that the City Council accept the release of the Former
Developer's associated Security Instruments.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. The City Council hereby approves the assignment and assumption
of the Subdivision Improvement Agreement for Tract Map 38049 by
the Owner from the Former Developer and accepts the replacement
subdivision improvement securities in conformance with the
requirements therein for public improvements.
SECTION 2. The City Manager is hereby authorized to execute the new
Subdivision Improvement Agreement with the Owner.
SECTION 3. The City Clerk shall cause to have recorded the new Subdivision
Improvement Agreement with the Riverside County Recorder.
SECTION 4. The City Clerk is hereby authorized to release the following Security
Instruments previously filed by the Former Developer with the City
Clerk to guarantee construction of the Works of Improvement:
• Faithful Performance Bond No. 100416989; $315,000.00
• Labor and Materials Bond No. 100416989; $158,000.00
• Monumentation Bond No. 100416990; $49500.00
LIB
Resolution No. 25278
Page 3
ADOPTED THIS 13TH DAY OF FEBRUARY 2025.
Scott Stiles, City Manager
ATTEST:
z�zl I&I z- -
Brenda Prde, MMC, CERA
City Clerk
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE) ss.
CITY OF PALM SPRINGS)
I, BRENDA PREE, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 25278 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 this 131h day of February, by
the following vote:
AYES: Councilmembers Ready, Garner, Bernstein, Mayor Pro Tern Soto, and Mayor
deHarte
NOES: None
ABSENT: None
ABSTAIN: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of Palm Springs, California, this 26+ day of February, 2025.
$rends free, City Clerk
City of Palm Springs, California
I
I