HomeMy WebLinkAbout10/18/2000 - STAFF REPORTS DATE: OCTOBER 18, 2000
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: REDEVELOPMENT DIRECTOR
APPROVAL OF AN EXCLUSIVE AGREEMENT TO NEGOTIATE WITH BURNETT
DEVELOPMENT CORPORATION ON A 19.17 ACRE AGENCY-OWNED PARCEL AND
A 22.21 CITY-OWNED PARCEL NEAR THE CORNER OF SUNRISE WAY AND SAN
RAFAEL ROAD
RECOMMENDATION:
It is recommended that the Agency approve the Exclusive Agreement to Negotiate
with Burnett Development Corporation on a 19.17 + acre Agency-owned parcel and
a 22.21 acre City-owned parcel at the corner of Sunrise Way and San Rafael Road
to facilitate the development of a major single-family-home development.
BACKGROUND:
In February, 2000 the Agency received an offer from Burnett Development
Corporation (the "Developer') to purchase a 19.17 + acre Agency-owned parcel
and a 22.21 acre City-owned parcel at the corner of Sunrise Way and San Rafael
Road for fair market value. The Developer is in the process of assembling land to
build a major single-family-home development in the area. The City sold an
11,000 s.f. parcel of land to the Developer in 1998 as part of the Developer's land
assemblage.
The Agency's 19.17 acre parcel was acquired from the City as half of the Sunrise
Mobile Home Park acquisition in 1995. Because the 19.17 acres has not been
subdivided yet from the Mobile Home Park, there is not yet a legal description of
the property. Engineering has, however, completed the work necessary for a lot
line adjustment.
Still owned by the City is the 22.21 acres north of the Agency's land. This parcel
forms the northern tier of the entire 100 acre parcel once entirely owned by the
City, but which now includes Sunrise Norte (single family homes on City land
leases), the Mobile Home Park (on land owned now by the Agency), and Coyote
Run, a 140-unit 100% affordable apartment complex built and owned by the
Coachella Valley Housing Coalition.
As part of the negotiation, the Agency asked staff to commission a new appraisal
on the properties. Since Burnett is not proposing to construct low-income housing
on the land, they would need to pay"fair market" value, as the Low/Mod Housing
Fund would not be able to write down their land cost.
There remains a separate proposal from a non-profit housing group to purchase
and rehabilitate the mobile home park, though the status of that offer is currently
uncertain. That purchase is not affected by the Burnett offer, except that the lot
line that now separates the 19.17 acre parcel from the 22.21 acre parcel would
have to be moved to separate the mobile home park from the 19.17 acre parcel. A
map is enclosed that shows the various properties.
By a separate action, the City will convey the 22.21 parcel to the Agency for
inclusion in the final Disposition and Development Agreement as Agency-owned
property and to effectuate the lot line adjustment. The net sale proceeds,
however, will be shared by the City and the Agency based on the respective value
of the two (2) parcels.
The developer has proposed a major new home subdivision around the Palm
Springs Country Club and surrounding areas, including these parcels. The
Developer already owns or controls most of the land necessary for the project,
though the Exclusive Agreement also covers a single land-locked parcel on the
east side of Sunrise ("Parcel O") that the Developer is currently under negotiation
to acquire.
Staff is currently negotiating a final price for the two parcels based on the
Developer's offer and the Agency's counter-offer. After the execution of the
Agreement, staff and the Developer wil immediately proceed to negotiating the
Disposition and LOH
D elopment Agreem nt.
N . RAYMO
velopment Director
APPROVED Executive Director
Director ems'
ATTACHMENTS:
1. Resolution
2. Exclusive Agreement to Negotiate
3. Map of Properties
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EXCLUSIVE AGREEMENT TO NEGOTIATE
BURNETT DEVELOPMENT CORPORATION
THIS EXCLUSIVE AGREEMENT TO NEGOTIATE ("AGREEMENT") , is made this day of
, 2000, by and between the PALM SPRINGS COMMUNITY
REDEVELOPMENT AGENCY ("AGENCY"), and BURNETT DEVELOPMENT CORPORATION
("DEVELOPER").
RECITALS
The parties entered into this Agreement on the basis of the following facts,understandings,and
intentions:
A. The Agency is a public body,corporate and politic, exercising governmental functions
and powers and organized and existing under the Community Redevelopment Law of the State of
California (Health and Safety Code Sections 33000, et seq.).
B. The Agency desires to effectuatethe Redevelopment Plan forthe Palm Springs Merged
Redevelopment Project Area No. 2 (formerly, Project Area#9C) by providing for the development of
no fewer than 400 single family homes in the area east and west of Sunrise Way north of San Rafael
Road ("the Site").
C. The Developer desires to construct market rate,single-family housing at the Site. The
term"Developer"as used herein includes the principals, partners,andjoint venturers of Developer and
all obligations of Developer herein shall be thejoint and several obligations of such principals,partners,
and joint venturers.
D. The Agency and Developer desire,forthe period setforth herein,to negotiate diligently
and in good faith to prepare an agreement whereby the Developer would develop such single family
home development on the site.
NOW,THEREFORE,and in consideration of the mutual covenants hereinafter contained, it is
mutually agreed upon by the parties as follows:
SECTION 1. NATURE OF NEGOTIATIONS.
A. Good Faith. The Agency and the Developer agree that for the period set forth in
Section 2 herein they will negotiate diligently and in good faith to prepare and enter into an agreement
(the"DDA")consistentwith the provisions of this Agreement forthe development of single family homes
on the Site specified herein. The development will be subject to all rules, regulations, standards, and
criteria set forth in the Redevelopment Plan, the City's General Plan, applicable specific plans and
zoning regulations, and with this Agreement.
B. Site. The Project shall be located upon the following real property,as shown in the"Site
Map,"attached hereto as Exhibit"A" and incorporated herein by this reference.
C. Construction and Ownership Concept. The Developer's interest shall be fee. The
design shall be consistent with the Agency's and the City's design guidelines. Developer's architect
shall work with the City's design guidelines to create a harmonious and attractive single family home
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development with a distinct identity. The Developer is responsible for financing and constructing all
improvements upon the Site. The single family home development shall consist of at least400 homes.
The homes shall be designed to be priced between_and and shall be in lots averaging_
in area. The Site will be subject to a declaration of covenants, conditions, and restrictions to govern
the development and ownership of the development.
D. Financial Provisions. The Developer is responsible for acquisition of the site and
financing and constructing all improvements upon the Site. Developer shall pay for all necessary public
improvements and pay all City's fees for processing the Project,without assistance from the Agency.
E. Schedule. The Developer's goal is to develop the single family homes by December
31,2003. The DDA shall contain a Schedule of Performance. Due to the need to possibly acquire at
least one small parcel through condemnation, such parcel may be delivered in a later phase.
F. Use and Transfer Restrictions. The DDA will generally be subject to restrictions on use
and transfer during construction and for a specified period thereafter through recorded restrictions(1)
to assure that the use will be consistent with and promote reasonable quality single-family home
development,(ii)to prevent speculation, (iii)to assure that any transferee has the resources,capability
and experience to successfully complete construction of the development, (iv) to assure long-term
maintenance of the homes in a productive and attractive condition, and (iv) to provide an adequate
financial return to the Agency.
G. Property Acquisition. The Developer has proposed acquiring a 22.21 acre City-owned
parcel, as well as a 19.17 acre Agency-owned parcel. The Agency completed an MAI appraisal in
June, 2000, which offers a per-square-foot value on the two parcels. Negotiations between the City,
Agency,and Developerwill proceed based on those appraisals.The parcels would be conveyed to the
Developer through a Disposition and Development Agreement between the Agency and the
Developer. Most of the rest of the project site is owned in fee by the Developer; however, the
assembly of the entire site may also involve an involuntary acquisition of property. To the extent
provided by law, the DDA will contain provisions that the Agency will consider the use of its power of
eminent domain for site assemblage should voluntary negotiations be unsuccessful but Agency shall
have no liability whatsoever to Developer if Agency should decide not to undertake condemnation.
Nothing herein shall be deemed to obligate Agency to undertake such acquisition by condemnation.
If the Agency shall undertake such acquisition, Developer shall be solely liable for the cost thereof,
including the legal costs, attorney fees,the amount of just compensation, irrespective of the amount,
or the award of attorney fees to the defendant, if awarded.
Appraisal of Properties. Upon successful negotiation of Disposition and Development
Agreement between Agency and Developer,the property shall be conveyed at fair market value based
on an MAI appraisal submitted to the City Engineer and the Agency on June 15, 2000. If the DDA is
not negotiated during the term of this Agreement, the appraisal shall be updated to determine new
values forthe property;Agency shall commission the update,which shall be paid from the Good Faith
Deposit described in Section 5.
H. Exclusivity. The Agency agrees for the period set forth in Section 2 that it will not
negotiate with or enter into any agreement with any other entity for development of the Site, and the
Developer agrees not to negotiate with any other person orentity regarding the development of a single
family home development within the territorial jurisdiction of Palm Springs without approval of Agency.
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SECTION 2. PERIOD OF NEGOTIATIONS.
The period of negotiation shall be one hundred eighty(180)days from the date this Agreement
is signed by the Agency, and this Agreement shall terminate after the expiration of such period unless
extended as follows:
A. For sixty(60) days if an agreement has been prepared by the Agency and executed
by the Developer,and has been submitted to the Agency but has not yet been approved by the Agency
Board; or
B. Forthirty(30)days if the major business terms have been agreed to and the Executive
Director determines that further negotiations are likely to result in a written agreement; or
C. By mutual agreement of the parties.
Developer understands and acknowledges that if negotiations culminate in an agreement,such
agreement shall be effective only afterand if the agreement has been considered and approved by the
Agency Board after public hearing thereon as required by law.
SECTION 3. DEVELOPER'S RESPONSIBILITIES.
During the period of negotiation, Developer will prepare such studies, reports, and analysis as
shall be necessary to permit Developer to determine the feasibility of its participation in the single family
home development. The Developer shall fully cooperate in the development of the Project design and
financing plan. During the period of negotiation and as requested by the Agency,the Developer shall
submit to the Agency the following:
A. Full disclosure of Developer's principals, partners, joint venturers, negotiators,
consultants, professional employees, or other associates of the Developer who are participants or
principals of the Project, and all other relevant information concerning the above.
B. Statement of financial condition in sufficient detail to demonstrate Developer's financial
capabilities,those of its principals,partners,joint venturers, and those of its prospective Developers to
satisfy the commitments necessitated by the Project. To the extent Developer wants such financial
statements to remain confidential,they shall be supplied to the Agency only if the confidentiality of the
statements can be maintained.
C. All information necessary forthe design of the Project to meet the Agency's reasonable
requirements. In addition, Developer shall take all actions necessary to obtain construction and
permanent financing. This information shall be sufficient to allow the Agency to evaluate site
configuration, architectural design, housing quality and similar issues.
The Developershall negotiate exclusively with the Agency's negotiating team and with no other
persons unless expressly authorized to do so by the Agency's negotiating team. During the period of
negotiations, no statements will be made by the Developer to the media without the approval of the
Agency's negotiating team. No prepared statements shall be released to the media without the mutual
consent of the respective negotiating teams. c m i �r
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S' S
SECTION 4. AGENCY'S RESPONSIBILITIES.
A. Preparation of Agreement. If agreement is reached on the business terms for inclusion
in the agreement, the Agency shall prepare such agreement for consideration by the Developer.
Agency's expenses, including legal expenses for preparation of the Agreement, shall be chargeable
against the Good Faith Deposit.
B. Zoning. The Agency will undertake all acts necessary to rezone such portions of the
property as may be necessary to permit the single family homes on the Site.
SECTION 5. GOOD FAITH DEPOSIT.
Concurrently with the execution of this Agreement,Developer shall submit to the Agency a good
faith deposit in the sum of Fifteen Thousand Dollars ($15,000.00) in the form of a cash deposit,
cashiers'check, irrevocable letterof credit,orotherform of security acceptable to the Agency to insure
that the Developer will proceed diligently and in good faith to negotiate and perform all of the
Developer's obligations under this Agreement. If the deposit is in cash or a certified cashiers' check,
it shall be deposited in an interest-bearing account of the City. Interest, if any, shall be added to the
deposit and held as additional security for the Developers obligations hereunder. Upon termination
of this Agreement the balance, less charges deducted from the deposit pursuant to section 4(A), shall
be returned to the Developer provided that the Developer has negotiated diligently and in good faith
and carried out its obligations hereunder. If Developer has failed to do so, in as much as the actual
damages which would result from a breach by Developer of its obligations under this Agreement are
uncertain and would be impractical or extremely difficultto determine,Agency shall be entitled to retain
the entire amount of said deposit,as liquidated and agreed damages. It is further understood that the
DDA will require an increase in the good faith upon execution of the DDA. The aggregate good faith
deposit then required shall be at least Fifty Thousand Dollars ($50,000.00).
SECTION 6. MISCELLANEOUS.
A. No commissions. The Agency shall not be liable for any real estate commission or any
brokers fees which may arise herefrom. The Agency represents that it has engaged no broker,agent,
or finder in connection with this transaction, and the Developer agrees to hold the Agency harmless
from any claim by any broker, agent, or finder retained by the Developer.
B. Ownership of Documents. If the negotiations contemplated by this Agreement do not
result in the execution of an agreement, Developer shall transfer to Agency copies of any reports,
studies, analysis, site plan layouts, development cost estimates,engineering studies, memorandums,
or similar documents regarding the proposed development and prepared during the period of
negotiations,which copies shall become the property of Agency. Such transfer shall be made without
any representation or warranty by the Developer as to the accuracy or sufficiency of the contents of
such documents and shall be made subject to the rights of the preparers of such documents including,
without limitation, the copyright(if any) associated with such documents.
C. Purpose of Contract. It is expressly understood and agreed by the parties hereto that
this is an Agreement regarding the conduct of contract negotiations only and does not convey any
interest in the property whatsoever. it is further agreed and understood that this Agreement does not
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imply any obligation on the part of the Agency to enter into any agreement that may result in
negotiations contemplated herein.
D. Amendment. This Agreement may only be amended by a document in writing signed
by the parties hereto.
E. Time forAcceptance. This Agreement,when executed by the Developer and delivered
to the Agency,shall constitute a binding offerwhich cannot be withdrawn priorto September30,2000,
so that the Agreement may be presented to the Agency Board. Notwithstanding any other provision
herein to the contrary, Agency shall not be obligated hereunder unless and until the Agency Board
authorizes the Chairman to execute this Agreement.
F. Corporate Authority. The persons executing this Agreement on behalf of the parties
hereto warrant that(i)such party is duly organized and existing, (ii)they are duly authorized to execute
and deliver this Agreement on behalf of said party, (iii) by so executing this Agreement, such party is
formally bound to the provisions of this Agreement, and (iv)the entering into this Agreement does not
violate any provision of any other Agreement to which said party is bound.
IN WITNESS WHEREOF,the parties have executed this Agreement as of the day first above
written.
"AGENCY"
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS, a public body,
corporate and politic
Chairman
ATTEST:
Agency Secretary
APPROVED AS TO FORM:
Agency Counsel
[SIGNATURES CONTINUED ON NEXT PAGE]
C ra..Q a,
"DEVELOPER"
BURNETT DEVELOPMENT CORPORATION
(Check One: _individual, _partnership, _corporation)
[NOTARIZED]
Signature
Print Name:
Print Title:
[NOTARIZED]
Signature
Print Name:
Print Title:
Mailing Address:
(Corporations require two signatures; one from each of the following: (A) Chairman of Board,
President,any Vice President;AND(B)Secretary,Assistant Secretary,Treasurer,Assistant Treasurer,
or Chief Financial Officer.)
[END OF SIGNATURES/ NOTARY JURAT(S) FOLLOW]
C._.0
STATE OF CALIFORNIA )
) ss.
COUNTY OF )
ON before me, Notary Public,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s)
whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies),and that by his/her/their signature(s)on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
Witness my hand and official seal. [SEAL]
Signature
STATE OF CALIFORNIA )
) ss.
COUNTY OF )
ON before me, Notary Public,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence)to be the person(s)
whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies),and thatby his/her/theirsignature(s)on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
Witness my hand and official seal. [SEAL]
Signature
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EXHIBIT"A"
TO EXCLUSIVE AGREEMENT TO NEGOTIATE
LEGAL DESCRIPTION OF THE PROPERTY
PARCELO
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 36, TOWNSHIP 3 SOUTH,
RANGE 4 EAST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF RIVERSIDE,
STATE OF CALIFORNIA, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT
THEREOF, DESCRIBED AS FOLLOWS:
COMMENCING AT A POINT ON THE SOUTH LINE OF SAID SECTION 36,THAT BEARS SOUTH
89° 55' EAST, A DISTANCE OF 544 FEET FROM THE SOUTHWEST CORNER THEREOF;
THENCE NORTH 00°6' 05" EAST,AND PARALLEL TO THE WEST LINE OF SAID SECTION 36,
A DISTANCE OF 160 FEET; THENCE NORTH 89' 55' WEST AND PARALLEL TO SAID SOUTH
LINE, 120 FEET,TO THE TRUE POINT OF BEGINNING; THENCE NORTH 00°05' EAST50 FEET;
THENCEALONGA CURVE TOTHE LEFT HAVING A CENTRALANGLE OF47°33'ANDA RADIUS
OF 50 FEET AND ARC LENGTH OF 41.50 FEET; THENCE 42° 22' EAST, 24.35 FEET; THENCE
NORTH 89'55'WESTAND PARALLEL TO SAID SOUTH LINE 434 FEET MORE OR LESS TO THE
WEST LINE OF SAID SECTION;THENCE SOUTH 00`6'05"WEST,ALONG SAID WEST LINE 105
FEET; THENCE SOUTH 89" 55' EAST AND PARALLEL TO SAID LINE 434 FEET TO THE TRUE
POINT OF BEGINNING;
EXCEPTING THEREFROM THE WEST 40 FEET AS CONVEYED TO THE CITY OF PALM
SPRINGS,CALIFORNIA MUNICIPAL CORPORATION,BY DOCUMENT RECORDED OCTOBER 10,
1968 AS INSTRUMENT NO. 97820 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY,
CALIFORNIA.
PARCEL Q
LOTS SAND C,OF TRACT NO. 17642-1,AS SHOWN BY MAP ON FILE IN BOOK 122 PAGE(S)88,
89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; EXCEPTING
THEREFROM THAT PORTION THEREOF LYING WITHIN TRACT NO. 26943-1, AS SHOWN BY
MAP ON FILE IN BOOK 235 PAGE(S)84 AND 85 OF MAPS, RECORDS OF RIVERSIDE COUNTY,
CALIFORNIA;
ALSO EXCEPTING THEREFROM THE EASTERLY 920 FEET OF LOT C;
ALSO EXCEPTING FROM LOT C THAT PORTION THEREOF CONVEYED TO THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA,A PUBLIC BODY,
CORPORATEAND POLITIC,BY DEED RECORDED APRIL25, 1996AS INSTRUMENT NO. 148930
OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA.
PARCEL R
LOT 1, OF TRACT NO. 17642-1,AS SHOWN BY MAP ON FILE IN BOOK 122 PAGES)88, 89 AND
90 OF MAPS. RECORDS OF RIVERSIDE COUNTY, CALIFORNIA,
L ra - a - I O
TOGETHER WITH THAT PORTION OF LOT C OF TRACT NO. 17642-1, AS SHOWN
BY MAP ON FILE IN BOOK 122 PAGES) 88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE
COUNTY, CALIFORNIA, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF LOT C; THENCE NORTHERLY ALONG THE
WEST LINE OF SAID LOT C NORTH 00' 15' 14" EAST 1,467.00 FEET; THENCE SOUTH 89°46'
28" EAST 50 FEET TO THE NORTHWEST CORNER OF LOT 1 OF SAID TRACT NO. 17642-1;
THENCE SOUTHERLY ALONG THE LINE BETWEEN SAID LOT C AND LOT 1 OF TRACT NO.
17642-1;SOUTH 00° 15' 14"WEST 1467.00 FEET TO THE SOUTHWEST CORNER OF SAID LOT
1,SAID CORNER BEINGALSO THE SOUTHEAST CORNER OF SAID LOTC;THENCE WESTERLY
ALONG THE SOUTH LINE OF SAID LOT C NORTH 89'46'28"WEST 50 FEET TO THE POINT OF
BEGINNING.
EXHIBIT "B"
TO EXCLUSIVE AGREEMENT TO NEGOTIATE
MAPS OF THE PROPERTY
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EXHIBIT"B"
TO EXCLUSIVE AGREEMENT TO NEGOTIATE
MAPS OF THE PROPERTY
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RESOLUTION NO.
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING AN EXCLUSIVE AGREEMENT TO
NEGOTIATE WITH BURNETT DEVELOPMENT
CORPORATION OF NEWPORT BEACH,
CALIFORNIA FOR THE PURCHASE AND
DEVELOPMENT OF AN AGENCY-OWNED AND
CITY-OWNED PARCEL TO FACILITATE THE
DEVELOPMENT OF A SINGLE-FAMILY HOME
DEVELOPMENT IN MERGED PROJECT AREA #1
(FORMERLY PROJECT AREA#9-C)
WHEREAS the Community Redevelopment Agency does own a parcel of land of
approximately 40 acres in Merged Project Area#1, formerly known as the Project Area
#9-C, which is divided between a mobile home park and a 19.17+ acre vacant parcel,
which it acquired from the City of Palm Springs in 1995; and
WHEREAS the City of Palm Springs does own a 22.21 acre parcel adjacent to the
Agency-owned parcel and which was acquired for the development of affordable
housing in the City; and
WHEREAS a number of developments have been constructed on the entire 100 acre
City-owned parcel which have restrictive covenants on them to preserve affordability,
including the mobile home park, Coyote Run, and Sunrise Norte; and
WHEREAS the City of Palm Springs shall convey its 22.21 acre parcel to the Agency to
facilitate the development of the combined 39.38+ acre parcel with market rate housing
to ensure a demographic balance in the area; and
WHEREAS the Agency desires to sell the parcel to a Burnett Development Corporation
so that it can return the land to productive use and facilitate additional development in
the area around the site, including the generation of tax increment and low- and
moderate-income housing setaside; and
WHEREAS Burnett Development Corporation may ask for Agency assistance in
acquiring a single land-locked parcel in the middle of their project; and
WHEREAS Burnett Development Corporation has requested the Agency to enter into an
Exclusive Agreement to Negotiate for a period of six months on the parcels while they
determine begin the process of site planning and project approvals.
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of
the City of Palm Springs, that the Exclusive Agreement to Negotiate between the
Agency and Burnett Development Company is hereby approved.
ADOPTED this day of , 2000.
AYES:
NOES:
ABSENT:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Executive Director
REVIEWED &APPROVED AS TO FORM Ex
_ 7Se /
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