HomeMy WebLinkAbout0199C - DENNIS ILLINGWORTH - MCKINNEY RESTAURANT 685 695 SPC PA3B5 i •
Dennis Illingworth - Ltr of
Intent
nt 6t r thPC eme
r,str-retail
LETTER OF INTENT AGREEMENT #199
R588, 12-21-88
This Letter of Intent is executed on this 22nd day of December, 1988, by
and among the Community Redevelopment Agency of the City of Palm Springs,
California ("Agency") , and Dennis Illingworth ("Participant") who hereby
agree to execute the subject Letter of Intent which they intend to be legally
binding and shall be legally binding upon the parties hereto with respect
to the subject matter thereof.
Intention of Parties
1. This Letter of Intent is executed with respect to the following facts:
a. Participant owns the property located at 685-695 S. Palm Canyon
Drive in the South Palm Canyon Redevelopment Project Area.
b. Participant wishes to acquire the Timothy and Sidney McKinney property
to the west of it's property for expansion of leaseable space and develop-
ment of driveway and parking related to its development.
2. Agency and Participant hereby agree as follows:
a. Agency agrees to use every means legally available to assist
Participant in the acquisition of the adjacent parcel and dispositions
at fair market value.
b. Agency to fund demolition of structures not useable in future develop-
ment of Participant's and adjacent site including collapse and removal
of septic tanks.
C. Agency to assist developer in establishing precise allignment of
Sunny Dunes Road as it effects future development of Participant's
property.
d. Agency to offer right-of-first refusal to the Participant on other
sites on the subject block if present owners decline to participate
in project.
e. Agency to be responsible for relocation of existing tenants of Timothy
and Sidney McKinney property.
f. Agency to acquire Sunny Dunes Road severence from Participant at
fair market value.
g. Agency to provide street improvements on Sunny Dunes Road.
h. Participant to complete development of Participant's property and
adjacent parcel in accordance with the architectural theme established
within one year of possession of adjacent parcel .
i . Participant to be responsible for development of parking areas to
architectural standards of the City.
j. Participant has right to transfer this agreement to any future entity
purchasing Participant's said property.
k. Participant to be allowed to replace substandard buildings removed
on a square foot for square foot basis without additional parking require-
ments except where the existing structures are on land to be acquired
for right-of-way purposes, subject to Planning Commission approval
pursuant to section 9306.00 B of the Zoning Ordinance.
1 . Participant to install landscaping to meet City standards and will
employ landscaping maintenance service on a monthly basis.
IN WITNESS THEREOF, the parties hereto have executed the Letter of Intent
Agreement as of the day and year first above written.
PARTICIPANT:
By
DENNIS ILLI R
ATTEST: COMMUNITY REDEVELOPM AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
l i'Assistant Secretary Chairman
REVIEWED AND APPROVED:_ ', `
[ta e���<�J�FC;.'.,) �,yo rc g:] F'.�"�nn,^�i:iC r^,Pn �y F� •-�r.;�F
C-d IV u „x�, m J �6 ow, .y'.,✓Ab uU r.J„b if¢ill � I+��u.'�b .