HomeMy WebLinkAbout20529 - RESOLUTIONS - 1/15/2003 RESOLUTION NO. 20529
OF THE CITY COUNCIL OFTHE CITY OF PALM SPRINGS,
CALIFORNIA, FACILITATING REPLACEMENT OF
DEVELOPERS OF FINAL MAP NO. 28610 A4622
WHEREAS the City Council at its meeting of January 19, 2000, approved Final Map No.
28610, and entered into a Subdivision ImprovementAgreement(Agreement No.4196)with
Strebe Consolidated Trust; and
WHEREAS pursuant to Agreement No. 4196, a Deed of Trust was recorded to secure the
cost to construct certain improvements associated with Final Map No. 28610; and
WHEREAS Strebe Consolidated Trust has entered into escrow for purchase of Final Map
No. 28610 with a new developer, Coachella Valley Developers, LLC; and
WHEREAS it is necessary to transfer subdivision obligations from the original developer to
the new developer, and accept replacement securities.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs as
follows:
1. That the City Manager is hereby authorized to enter into a Subdivision Improvement
Agreement with Coachella Valley Developers, LLC; and
2. That the City Clerk is hereby authorized to accept replacement securities, as '
required by the Subdivision Improvement Agreement; and
3. That,subject to Items 1 and 2 above,Agreement No.4196 is hereby cancelled; and
4. That, subject to Item 3 above, the City Manageris hereby authorized to execute a
Request for Full Reconveyance of the Deed of Trust between the City and Strebe
Consolidated Trust, to be recorded upon close of escrow of the purchase of Final
Map No. 28610 by Coachella Valley Developers, LI_C.
ADOPTED this 151th day of January 2003
AYES: Members Hodges, Mills, Oden, Reller—Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIF0RNIA
City Clerk City Manager
REVIEWED &APPROVED AS TO FORM: