HomeMy WebLinkAbout3/6/2013 - AGREEMENTS (2)
City of Palm Springs
Office of the Assistant City Manager
3200 East Tahquitz Canyon Way • Palm Springs, California 92262
Tel: (760) 322-8380 • Fax: (760) 323-8207 • Web: www.palmspringsca.gov
May 2, 2019 Via Email: lkibby@seleneinternational.com
Lauri Kibby
Selene Palm Springs
1717 E. Vista Chino
A7-613
Palm Springs, CA 92262
RE: Dream Hotel, Services Agreement (A6329); Parking Fee Payment
Dear Ms. Kibby,
In accordance with the Services Agreement (A6329) dated March 6, 2013, as recently amended by City
Council on December 5, 2018, Selene Palm Springs, LLC, has agreed to pay the City the amount of
$2,675,000 for the unamortized parking improvements necessary to replace existing public parking
spaces on the property purchased from the City. This payment has been considered the “Parking Fee”
for the purposes of the Services Agreement.
Section 3(c) of the amended Services Agreement allowed for deferral of your payment of the Parking
Fee following issuance of the first building permit, with the condition that…City shall have full
discretion to call for payment of a portion of, or the full amount of, the Parking Fee, when it so requires.
By our letters of March 9 and May 18, 2018, we previously requested and received payment from you
in the amount of $575,000 leaving a balance due of $2,100,000. Recital P of Amendment No. 3 to the
Services Agreement approved on December 5, 2018, makes reference to the following:
P. This Amendment will extend the date by which the Parking Fee is due and payable in response to
the Developer’s request, with Developer’s full knowledge and understanding that the City intends to
submit its request for full payment of the remaining balance of the Parking Fee owed to the City on or
before April 1, 2019
Our letter of January 18, 2019, requested that you pay in full the $2,100,000 balance due of the
Parking Fee by April 1, 2019.
On March 15, 2019, you submitted a request to extend the deadline to submit the required payment
to July 15, 2019.
Lauri Kibby
May 2, 2019
Page 2
We have considered your request, and will grant you an extension of time to submit the full payment
of $2,100,000 to July 1, 2019. It is necessary that we receive this payment in full within the 2018/2019
fiscal year, by July 1, 2019. There will be no further approval of an extension of time for this payment.
Thank you for your understanding, and we look forward to seeing additional progress with the Dream
Hotel!
If you have any questions, please feel free to contact me at (760) 322 -8380, or by e-mail at
Marcus.Fuller@palmspringsca.gov.
Sincerely,
Marcus L. Fuller, MPA, PE, PLS
Assistant City Manager
xc: David Ready, City Manager
Jeff Ballinger, City Attorney
Anthony Mejia, City Clerk – (Agreement File A6329)