HomeMy WebLinkAbout25279RESOLUTION NO. 25279
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING THE
ASSIGNMENT AND ASSUMPTION OF THE SUBDIVISION
IMPROVEMENT AGREEMENT (A9470) AND SECURITIES
FOR TRACT MAP 36969 BY LENNAR HOMES OF
CALIFORNIA, LLC, A CALIFORNIA LIMITED LIABILITY
COMPANY, FROM EHOF CANYON VIEW, LLC, A
DELAWARE LIMITED LIABILITY COMPANY, FOR
PROPERTY LOCATED AT THE SOUTHWEST CORNER OF
EAST PALM CANYON DRIVE AND MATTHEW DRIVE, IN
SECTION 30, TOWNSHIP 4 SOUTH, RANGE 5 EAST.
WHEREAS, the City Council of the City of Palm Springs, (hereinafter the "City"),
at its meeting of July 19, 2017, recommended approval of Tentative Tract Map
36969, subject to conditions; and
WHEREAS, the Planning Commission of the City of Palm Springs, at its meeting
of June 19, 2021, recommended conditional approval of Tentative Tract Map
36969, subject to conditions; and
WHEREAS, the City, at its meeting of July 22, 2021, recommended approval of
the Tentative Tract Map 36969, subject to conditions set forth by the Planning
Commission; and
WHEREAS, the City, at its meeting of January 11, 2024, adopted Resolution No.
25175, approving Tract Map 36969 and a related Subdivision Improvement
Agreement, (Agreement No. A9470), with EHOF CANYON VIEW, LLC, a
Delaware 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 $8,625,000 to guarantee construction of
certain public improvements required for and associated with Tract Map 36969,
(the "Works of Improvement"); and
WHEREAS, the Former Developer filed with the City Clerk a performance bond in
the amount of $5,700,000, labor and materials (payment) bond in the amount of
totaling $2,850,000, and a monumentation bond in the amount of $75,000 in
accordance with the Subdivision Improvement Agreement; and
WHEREAS, TPG AG EHC III (LEN) CA 1, L.P., a Delaware limited partnership
("Owner") acquired the associated property from the Former Developer; and
WHEREAS, The California Subdivision Map Act permits parties other than the
Owner to enter into a subdivision improvement agreement with the City, provided
Resolution No. 25279
Page 2
the other party is acting on the Owner's behalf in developing the associated
property; and 0
WHEREAS, the Owner's contractor Lennar Homes of California, LLC, a California
limited liability company ("Contractor") intends to enter into a subdivision
improvement agreement with the City on the Owner's behalf; and
WHEREAS, the required Works of Improvements have not yet been completed by
the Former Developer or Owner, the Owner and Contractor have requested that
the City enter into a new Subdivision Improvement Agreement with the Contractor
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 Contractor has submitted replacement subdivision improvement
securities in the same amount of $8,625,000 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 Contractor from the Former
Developer, and recommends that the City Council accept the release of the Former
Developer's associated Security Instruments. 0
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 36969 by
the Contractor 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 Contractor.
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. 0257527; $5,700,000.00
• Labor and Materials Bond No. 0257527; $2,850,000.00
• Monumentation Bond No. 0257528; $75,000
Resolution No. 25279
Page 3
ADOPTED THIS 13TH DAY OF FEBRUARY 2025.
ATTEST:
Brenda Pree, MMC, CERA
City Clerk
Scott Stiles, City Manager
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. 25279 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 13' 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 2:J 41_ day of February, 2025.
renda Free, City Clerk
City of Palm Springs, California
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