HomeMy WebLinkAbout20984 - RESOLUTIONS - 6/16/2004 RESOLUTION NO. 20984
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, FACILITATING REPLACEMENT
OF DEVELOPERS OF FINAL MAP NO. 28966
WHEREAS, the City Council at its meeting of January 7, 2004, approved Final Map
28966, and entered into a Subdivision Improvement Agreement (Agreement No. 4814)
with Preserve Golf Company, LLC, a California limited liability company; and
WHEREAS, pursuant to Agreement No. 4814, securities are held by the City of Palm
Springs to guarantee construction of certain improvements associated with Final Map
No. 28966; and
WHEREAS, Preserve Golf Company, LLC, a California limited liability company, has
entered into a purchase and sale agreement of Final Map 28966 with Calise/
Development, LLC, a California limited liability company; and
WHEREAS, it is necessary to transfer the terms and obligations of Agreement No. 4814
from Preserve Golf Company, LLC, to Calise`Development, LLC, accept replacement
securities, and release original securities.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs,
California as follows:
' 1. That the Assignment and Assumption of Subdivision Improvement Agreement dated
May 27, 2004, between Preserve Golf Company, LLC, a California limited liability
company, and Calise Development, LLC, a California limited liability company, is
recognized and accepted as transferring the terms and obligations of "Subdivider"
stated inA greement No. 4814 dated January 7, 2004, with the City of Palm Springs,
to Calise Development, LLC, a California limited liability company; and
2. That replacement securities from Calise Development, LLC, a California limited
liability company, are accepted to secure obligations required of Agreement No.
4814; and
3) That the release of all original securities of Agreement No. 4814, provided by
Presence Golf Company, LLC, a California limited liability company, replaced by
securities from Calise Development LLC, a California limited liability company is
authorized.
ADOPTED this 16t' day of June, 2004.
AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ATTE-, . CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Mana2ger
REVIEWED &APPROVED AS TO FORM:
City Attorney
Resolution 20984
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