HomeMy WebLinkAbout4/18/2007 - STAFF REPORTS - RA.1. iy
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Community Redevelopment Agency/City Council
Staff Report
DATE: APRIL 18, 2007 JOINT PUBLIC HEARING
SUBJECT: APPROVAL OF AMENDMENT NO, 2 TO A RESTATED AND AMENDED
DISPOSITION AND DEVELOPMENT AGREEMENT, PROMISSORY
NOTE, AND DEED OF TRUST WITH ASSIGNMENT OF RENTS WITH
HACIENDA SUNSET AFFORDABLE HOUSING ASSOCIATES, A
CALIFORNIA LIMITED PARTNERSHIP TO APPROVE ADDITIONAL
FUNDING IN THE AMOUNT OF $236,281
FROM: David H. Ready, Executive Director
BY: Community & Economic Development Department
SUMMARY:
It is recommended that the Agency approve the Second Amendment to a Restated and
Amended Disposition and Development Agreement with Hacienda Sunset Affordable
Housing Associates, a California Limited Partnership, and Coachella Valley Housing
Coalition (CVHC), amending the terms of the Agency assistance to provide an
additional $236,281 in Agency assistance to close out the construction of the project.
The Agency had previously agreed to provide $1,100,000 in Agency financial
assistance for the construction of a 66-unit low-income apartment complex, south of the
Coyote Run Apartments on Sunrise Way and San Rafael Road.
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING AMENDMENT NO. 2 TO A RESTATED AND
AMENDED DISPOSITION AND DEVELOPMENT AGREEMENT, PROMISSORY
NOTE, AND DEED OF TRUST WITH ASSIGNMENT OF RENTS WITH
HACIENDA SUNSET AFFORDABLE HOUSING ASSOCIATES, A CALIFORNIA
LIMITED PARTNERSHIP TO APPROVE ADDITIONAL FUNDING IN THE
AMOUNT OF $236,281
ITEM NO. 1�
2. Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALM SPRINGS, CALIFORNIA, CONCURRING WITH THE
AGENCY'S APPROVAL OF AMENDMENT NO. 2 TO A RESTATED AND
AMENDED DISPOSITION AND DEVELOPMENT AGREEMENT, PROMISSORY
NOTE, AND DEED OF TRUST WITH ASSIGNMENT OF RENTS WITH
HACIENDA SUNSET AFFORDABLE HOUSING ASSOCIATES, A CALIFORNIA
LIMITED PARTNERSHIP TO APPROVE ADDITIONAL FUNDING IN THE
AMOUNT OF $236,281
STAFF ANALYSIS:
This resolution amends a previously amended Restated and Amended Disposition and
Development Agreement with the developers of the Coyote Run Apartments to provide
an additional $236,281 in Agency assistance to close a financing gap to assist the
project to close on its construction- and permanent financing. The Agency previously
contributed a 6.25 acre parcel of Agency-owned land (valued at $250,000) and made an
Original cash contribution of $750,000 which was increased in December, 2004 by
$350,000 due to rising materials costs.
Coyote Run II Apartments, which now houses 66 low-income families, was approved by
the Council on July 3, 2002. The Agency, through a Regulatory Agreement approved
as an attachment to the original Disposition and Development Agreement, restricted the
rents on 49% of the proposed units (32) to levels affordable to families with incomes no
more than 60% of Area Median Income (AM[). The entire project, however, is restricted
due to the restrictions from other funding sources such as HOME and MHP funds.
On December 3, 2003, the Agency approved an Amended and Restated DDA to
restructure the promissory note for the $750,000 in Agency Low Income Housing
Setaside funds, and the land contribution, to conform to the requirements of the
project's primary financing program, the State of California's Multifamily Housing
Program (MHP). The Developer had also received HOME funds for the project nearly
adequate to begin construction, but was faced with a shortfall of $350,000 in the project
budget. They had expected to be able to cover the $350,000 shortfall with a grant from
the Affordable Housing Program (AHP) of the Federal Home Loan Bank Board, but after
bidding the construction project they discovered that the steep escalation in lumber
prices drove the cost of the project up by $500,000, necessitating that they receive the
AHP grant and additional Agency assistance. The Developer made up the difference.
Prior to completion of the project (August, 2006), the Developer had requested
additional funding to be able to close out the books on the project to cover items such
as: (1) additional wrought iron fencing along Garnet Road; (2) wrought iron fencing
along the perimeter of the proposed public park on the site; (3) an additional drywell on
the project, requested by the City to reduce the risk of mosquito-borne illnesses; (4)
improvements on the Sunrise Way median that were due to the lag in approvals
between this project and the adjacent Four Seasons project; (5) additional City-
requested service valves; and (6) the significant increase in the price of asphalt and
concrete.
Staff worked through a satisfactory design fix to the issue on Garnet Road, where the
code required 42 inch wall created consternation in the adjacent Sunrise Norte
neighborhood. In the end, the main objection was that the wall was too easy to climb
and made Sunrise Norte uncomfortable. Working with Planning and Parks &
Recreation staff, staff recommended the additional 14" wrought iron along that wall.
Likewise, the issue of the median island created additional cost to the project, as the
difference in timing between the installation of the median by K. Hovnanian and the
Coyote Run development plan, which came one year later, required that Coyote Run
relocate the driveways along Sunrise Way at their cost.
Finally, the issue of the 1/4 acre park at the entrance is still being negotiated between
staff and the developer. Recent staff changes in the City have delayed the resolution
and ultimate design of the park.
The total Agency contribution, then, would be $1,586,281, comprised of $1,336,281 in
cash, as well as the land value of $250,000. These additional funds are available in the
Low/Mod Housing Fund.
FISCAL IMPACT:
This action increases the Agency's cash contribution to the project from $1,100,000 to
$1,336,281. The land contribution remains the same at $250,000. The per unit Agency
subsidy (including the value of cash and land) per restricted unit would rise to $49,571
per restricted unit, or $24,034 per unit calculated against all the 66 units (since all the
units are restricted, just not by the Agency).
AOA/
J hn . Ray o Director of Tom Wilson
04munity & cnomic Development Assistant City Lager
DAVID H. READY
Executive Director
Attachments:
1. CRA Resolution
2. City Council Resolution
3. Amendment No. 2 to the Restated and Amended Disposition and
Development Agreement
4. Public Hearing Notice
5. Request Letter from Coachella Valley Housing Coalition
RESOLUTION NO.
"A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING
AMENDMENT NO. 1 TO A RESTATED AND
AMENDED DISPOSITION AND DEVELOPMENT
AGREEMENT, PROMISSORY NOTE, AND DEED
OF TRUST WITH ASSIGNMENT OF RENTS WITH
HACIENDA SUNSET AFFORDABLE HOUSING
ASSOCIATES, A CALIFORNIA LIMITED
PARTNERSHIP TO APPROVE ADDITIONAL
FUNDING IN THE AMOUNT OF $236,281
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs (the
"Agency") has established an affordable housing setaside fund in accordance with
Section 33000 et. seq. of the California Health and Safety Code; and
WHEREAS, the Agency and the Developer have entered into that certain Restated and
Amended Disposition and Development Agreement ("RADDA") dated February 15,
2005 which provides for the construction of 85 affordable housing units pursuant to the
terms of the RADDA; and
WHEREAS, the project has commenced with construction based on the financing
committed by the State of California, the County of Riverside, the Agency, and the Tax
Credit investor, among others; and
WHEREAS, the project has experienced has experienced additional cost increases
from utility connection charges, additional landscaping, more substantial ADA
improvements required by the state, and other costs and has requested additional
funding from the Agency, the County, and the Tax Credit investor.
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of
the City of Palm Springs, as follows:
SECTION 1. The above recitals are true and correct and incorporated herein.
SECTION 2. This Amendment No. 1 to the Restated and Amended Disposition
and Development Agreement ("RADDA") with Sunset Hacienda
Affordable Housing Associates, a California Limited Partnership, is
hereby approved and incorporated herein by this reference.
SECTION 3. The Executive Director, or his designee, is hereby authorized to
execute on behalf of the Agency the Amendment No. 2 to the
Community Redevelopment Agency
April 18, 2007
Page 5
RADDA and other documents necessary to the Agreement, in a
form approved by Agency Counsel.
ADOPTED this day of 2007.
AYES:
NOES:
ABSENT:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
CALIFORNIA
Chairman
ATTEST:
James Thompson, City Clerk
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 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
by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Community Redevelopment Agency
April 18,2007
Page 6
RESOLUTION NO.
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, CONCURRING WITH
THE AGENCY'S APPROVAL OF AMENDMENT
NO. 2 TO A RESTATED AND AMENDED
DISPOSITION AND DEVELOPMENT
AGREEMENT, PROMISSORY NOTE, AND DEED
OF TRUST WITH ASSIGNMENT OF RENTS WITH
HACIENDA SUNSET AFFORDABLE HOUSING
ASSOCIATES, A CALIFORNIA LIMITED
PARTNERSHIP TO APPROVE ADDITIONAL
FUNDING IN THE AMOUNT OF $236,281
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs
that it concurs with the Community Redevelopment Agency's approval of Amendment
No. 2 to a Restated and Amended Disposition and Development Agreement between
the Community Redevelopment Agency of the City of Palm Springs and Sunset
Hacienda Affordable Housing Associates, a California Limited Partnership, to approve
additional funding in the amount of$236,281.
ADOPTED this day of 2007.
AYES:
NOES:
ABSENT:
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
ATTEST:
James Thompson, City Clerk
Community Redevelopment Agency
May 18,2005
Page 7
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 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
by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Coyote Run H Apartments,Palm Springs
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
Community Redevelopment Agency of the
City of Palm Springs
P.O. Box 2743
Palm Springs, CA 92263
Attn: Assistant Secretary
SPACE ABOVE THIS LINE FOR RECORDERS USE
SECOND AMENDMENT TO THE RESTATED AND AMENDED DISPOSITION AND
DEVELOPMENT AGREEMENT, PROMISSORY NOTE, AND DEED OF TRUST
WITH ASSIGNMENT OF RENTS BETWEEN
THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS AND HACIENDA SUNSET AFFORDABLE HOUSING ASSOCIATES, a
California Limited Partnership
This Second Amendment to the Restated and Amended Disposition and
Development Agreement, Promissory Note and Deed of Trust with Assignment of
Rents (the "First Amendment") is entered into effective this day of
, 2007, by and between the Community Redevelopment Agency of
the City of Palm Springs (hereafter referred to as the "AGENCY") and Hacienda
Sunset Affordable Housing Associates, a California limited partnership (hereafter
referred to as the "OWNER").
RECITALS
WHEREAS, the AGENCY and the OWNER entered into a Restated and
Amended Disposition and Development Agreement ("RADDA") dated May 17, 2004,
and
WHEREAS, the AGENCY and the OWNER entered into a First
Amendment to the Restated and Amended Disposition and Development Agreement
1 oF6
Coyote Run II Aparmients,Palm Springs
("RADDA"), approved by the Agency on June 2, 2004, increasing the Agency cash
contribution by $350,000, and
WHEREAS, pursuant to the Amended RADDA, OWNER constructed 66
affordable rental housing units (the "Project') on certain identified sites of
approximately 6.25 acres located on 3601 North Sunrise Way, in the City of Palm
Springs with Assessors Parcel Numbers of Parcels 669-500-013, 669-500-015, and
669-500-017 as more particularly described in the attached Exhibit A;
WHEREAS, under the terms and conditions of the RADDA, the AGENCY has
provided to OWNER land with a value of $250,000 (the "Land Note") and funds in
the original principal amount of $1,100,000 (the "Cash Note") in construction and
permanent financing. The Cash Note is evidenced by a promissory note and
secured by a Short Form Deed of Trust and Assignment of Rents dated
2004 and recorded , 2004, as Instrument No.
in the Official Records of Riverside County (the "Cash Deed of
Trust'). The RADDA, the Cash Note, the Land Note, the Cash Deed of Trust, the
Land Deed of Trust and any other documents evidencing or securing the Cash loan
or Land contribution shall collectively be referred to herein as the "AGENCY
Documents"
WHEREAS, the OWNER experienced cost increases in the development of
the Project due to a variety of factors including an increase in building materials,
utility connections, relocation of median improvements; drywells; and additional
fencing and landscaping costs that were not anticipated at the start of the
construction, totaling an amount of approximately $236,261; and
WHEREAS, the OWNER desires to borrow an additional $236,261 from the
AGENCY and the AGENCY is willing to grant such request.
NOW, THEREFORE, in consideration of the foregoing, and the promises and
mutual covenants and conditions hereinafter set forth, the AGENCY and the
OWNER do hereby agree as follows:
2of6
Coyote Run II Apartments,Palm Spnngs
1. The principal amount of the Cash Note shall be increased by
$236,261;
2. The RADDA, the Cash Note and the Cash Deed of Trust are hereby
modified to reflect the increased Cash Loan amount; and
3. This Second Amendment to the RADDA shall be recorded as a lien on
the Property. All references, in the Loan Agreement, Deed of Trust with
Assignment of Rents and Promissory Note, to the principal sum
amount of$1,100,000 are hereby amended to read $1,336,281 .
4. All other terms and conditions of the RADDA, the Cash Note and Cash
Deed of Trust remain unmodified and in full force and effect.
This Agreement may be signed by the different parties hereto in counterparts,
each of which shall be an original but all of which together shall constitute one and
the same agreement.
u
3 of 6
Coyote Run II Apartments,Palm Springs
//IN WITNESS WHEREOF, the AGENCY and the OWNER have executed this First
Amendment as of the date first above written.
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
CALIFORNIA
By: By:
Assistant Secretary Chairman
APPROVED A5 TO FORM
By:
Agency Counsel
"DEVELOPER"
HACIENDA SUNSET AFFORDABLE
HOUSING ASSOCIATES
a California limited partnership
Date:
By:
-f
Its: General Partner
4 of 6
Coyote Run Il Apartments,Palm Springs
(All signatures on this page need to be notarized)
STATE OF CALIFORNIA
COUNTY OF
On before me, (here insert name
and title of the officer), 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.
Signature
(Seal)
STATE OF CALIFORNIA
COUNTY OF
On before me, (here insert name
and title of the officer), 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.
5 of 6
PROOF OF PUBLICATION This is space for County Clerk's Filing Stamp
(2015.5.C.C.P)
STATE OF CALIFORNIA
County of Riverside
No. 1069
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN That the Community
Redevelopment Agency al the CI of Palln
I am A citizen or the United States and a resident of prings and The cit Councll of the ly of Palm
Springs will hold a Jalnt Public Hearing n the Clry
the County aforesaid;I and over the age of eighteen Ceunell Chamber,located at 32oo.Tahwqwit Can-
years,and not II art to or interested in von Way, Palm Springs beginning at 6:00 p,rn.,
Y' party Wednaeday April 15, 2007 to croslder The fd-
above-entitled matter.I am the principal clerk of a lowing:
printer of the,DESERT SUN PUf3LTSFIING Thu Third Amendment to a Disposition and Devol
opmont Agregiment ( DDA"1 betiumn Hacienda
COMPANY a newspaper Of general circulation, Sunset Affordable Housing Assoclates, a Callfor-
printed and published in the City of Palm Springs, nla Limlted Parinershlp, Coacncua valley Hou:Inq
Coalition snit the Community Ri,developmentt
County of Riverside,and which newspaper has been Agency of the wCityest
side
Palm Springs fora protect
locarnd on the went side r Sunrise for near 'an
adjudged a newspaper of general circulation by the Rafncl Road.
Superior Court of the County of Riverside,State of The nSTure of the amendment is to piovlde addi-
CalifOrnia under the date Of March 24,1988-Case tlonal financial assistance To The project In the
amount of E236p261 in Agency Low Income
Number 191236;that the notice,of which the Housng Setaslde Funds, bringingg the total Agon-
cyy cash contribution to St 336201, The Agency
annexed is a printed copy(set in type not smaller 31s�o contributed The 0.25 acre A?r�en7-awned
parcel to the project, valued at 550, 00. The
than non pariel,has been published in each regular partnership has received federal HOME funds and
and entire issue of said newspaper and not ill all state MHP fun&.The Developer has requu"ted
Y additional funding to be able to close out the
books on the project to cover Items -uch as: 1
supplement thereof on the following dates,to wit: 'Additional wreuglit iron fencing along Game
Road;2)Wrought iron fencing along the perimeter
n n of the proposed public park on the aiW, 3)Addi-
April 4 ', 11 ',2007 trpml drywall on The project, requested by the
-..-----.--.,----------------------........W.....—... City la reduce the flak i mosquitoeborne i ecla-
t.. 4)were
duo 10 the L the Sunrise Way between
this project and the adjacent Fourr Seasonswpro-
joet-5)Additional CIty-regde:'red service valves:
and 5)Significant increase In the price of asphalt
All in the year 2007 and concrete. -The general p¢rtn,r In the project Is Coachella
valley HOLISing Cc¢lition, the general panner and
I certify(or declare)under penalty of perjury that the property mamggr of the adweent Coyate Run
foregoing is true and correct. apartments, She two Coyote Run projects share
g g amenlIts,.Including tha existing day care center
and new-tat-ots. The prolIbcf campletmd con-
'sartnelors al re fInalllzinq thair ermanentt financing
Dated at Palm Springs,California this---11 ,--day end tax credit allocation.
0 April % ---------- 2007 -- The staff report and other supporttpg documents
+ regardtn❑❑ this' matter are available for public re-
'r vivw at the City I-InII between the hours of Sao
a.m Gnd 5.00 p.m. Monday through Friday
C760)s323 contact
the if you would like to schedule an
appgintmenT To review these documents.
-- .............
" ------- ----
al the, Public
to tills g an can.be made verbally e
the Public Hearing and/or in wooing before the
_ Sig urL' heating Written comments can be made i The
_ 'hearing
Pedeveloppmo�t Agency of the City OP
M 'Palm Springs and Clry Council by later(for mail
-- �; �-- or humtl de very) to;
"- - Jame::Thompson City Clerk
- -- -- 320C E.Tahqultz Canyyon Way
`J Palm Springs,CA 92262
Any challenge of the proposed project In court
Q may be limited to raising only those issue^raised
QUO at the public hearing described In this notice or
C= }_- ` in written correspondence delivered to me City
l
mlenit Code Secliono65009j6)j2j),heering. (Govern-
- o 'An oppertunity will be given at said hearing for sill
Interested persons to be hoard questions rogard-
�, ng This case may be dlrectod to John S. R:ty-
" I mond, Director of Community S Economic Devel-
opment, at(760)323-8228
Si ncceslta ayuda can esta cart¢,porfavor Ilame-a
a Ciudad de Palm Springs y puede hablar con
Nadine Pager toleeno (780) 323.8241,
James Thompson, City Clerk
Published:414,4/11/2007
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN, that the Community Redevelopment Agency of the City of Palm Springs and
the City Council of the City of Palm Springs will hold a Joint Public Hearing in the City Council Chamber,
located at 3200 Tahquitz Canyon Way, Palm Springs, beginning at 6.00 p.m., Wednesday, April 18, 2007,
to consider the following:
The Third Amendment to a Disposition and Development Agreement ("DDA") between
Hacienda Sunset Affordable Housing Associates, a California Limited Partnership,
Coachella Valley Housing Coalition and the Community Redevelopment Agency of the City
of Palm Springs for a project located on the west side of Sunrise Way near San Rafael
Road.
The nature of the amendment is to provide additional financial assistance to the project in the amount of
$236,261 in Agency Low Income Housing Setaside Funds, bringing the total Agency cash contribution to
$1,336,261. The Agency also contributed the 6.25 acre Agency-owned parcel to the project, valued at
$250,000. The partnership has received federal HOME funds and state MHP funds. The Developer has
requested additional funding to be able to close out the books on the project to cover items such as: 1)
Additional wrought iron fencing along Garnet Road; 2) Wrought iron fencing along the perimeter of the
proposed public park on the site; 3) Additional drywell on the project, requested by the City to reduce the
risk of mosquito-borne illnesses; 4) Improvements on the Sunrise Way median that were due to the lag in
approvals between this project and the adjacent Four Seasons project; 5) Additional City-requested service
valves; and 6) Significant increase in the price of asphalt and concrete.
The general partner in the project is Coachella Valley Housing Coalition, the general partner and property
manager of the adjacent Coyote Run apartments. The two Coyote Run projects share amenities, including
the existing day care center and new tot lots The project completed construction in September, 2006, and
the project partners are finalizing their permanent financing and tax credit allocation.
The staff report and other supporting documents regarding this matter are available for public review at the
City Hall between the hours of 8:00 a.m. and 5:00 p.m, Monday through Friday. Please contact the City
Clerk's Department at (760) 323-8204 if you would like to schedule an appointment to review these
documents.
Response to this notice can be made verbally at the Public Hearing and/or in writing before the hearing.
Written comments can be made to the Community Redevelopment Agency of the City of Palm Springs and
City Council by letter(for mail or hand delivery) to:
James Thompson, City Clerk
3200 E. Tahquitz Canyon Way
Palm Springs, CA 92262
Any challenge of the proposed project in court may be limited to raising only those issues raised at the
public hearing described in this notice, or in written correspondence delivered to the City Clerk at, or prior,
to the public hearing. (Government Code Section 65009(b)(2)).
An opportunity will be given at said hearing for all interested persons to be heard. Questions regarding this
case may be directed to John S. Raymond, Director of Community & Economic Development, at (760) 323-
8228.
Si necesita ayuda con esta Carta, porfavor Ilame a la Ciudad de Palm Springs y puede-hablar con N_ads ne
Fieger telefono (760) 323-8241.
mes Thompson, City Clerk =
Coachella Valley Housing Coalition �.
45-701 Monroe Sircet,Suite G,PLu-,a 1,Indio, CA 92201
TFL- (760) 347-3157 FAX (760) 342-6466
August 21, 2006
John S_ RayAnond
Director of Community&Economic Development
City of Palm Springs
3200 Tahgtutz Canyon Way
Palm Springs, CA
92262
RE: Coyote Run 11: Request for Funds
Dear John:
This letter will follow-up our discussion regarding our request for supplemental funds for Coyote
Run II. The project is complete and nearly all units are occupied. The Apartments look great
and the families seem really pleased to be in their new units. This could not have been
accomplished without the ongoing support and commitment of City Staff and Council. This
development stands as another outstanding example of the Partnership between the City and
CVHC in meeting the affordable housing needs of the City of Palm Springs.
As requested here is a breakdown of our request for finds:
1) Additional screening on Garnet:
Add 14" of wrought iron along Gamet Road, 514 linear feet. $10,280.00
2) Wrought Iron Fencing for Park area, including one (1) gate
320 linear feet 26,421,00
3) City requested additional drywell; northeast side of prop. 7,880.00
4) City requested median improvement/relocation 41,800.00
5) City requested service valves 6,696.00
6) Materials Price increase for asphalt/concrete 141184.00
Total $236,261.00
Please do not hesitate to contact me or Jolm Aguilar if you need any further information
processing this request.
Sincerely
John Meale
xecutive Director
/I
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