HomeMy WebLinkAbout3/2/2005 - STAFF REPORTS (4) DATE: MARCH 2, 2005
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: DIRECTOR OF COMMUNITY& ECONOMIC DEVELOPMENT
PUBLIC HEARING ON FIRST AMENDMENT TO EXISTING DISPOSITION AND
DEVELOPMENT AGREEMENT K. HOVNANIAN COMPANIES OF CALIFORNIA, INC., A
SUCCESSOR IN INTEREST TO BURNETT DEVELOPMENT CORPORATION,TO ALLOW
THE SALE OF A 1.06 ACRE PARCEL OF AGENCY-OWNED LAND
RECOMMENDATION:
It is recommended that the Community Redevelopment Agency of the City of Palm
Springs, California ("Agency'), after considering testimony received at the Public
Hearing, approve the First Amendment to the Disposition and Development
Agreement(the"Agreement")between the Agency and K. Hovnanian Companies of
California, Inc., successor to the interests of Burnett Development Corporation under
the Agreement, thereby allowing the sale of an approximate 1.06 acre parcel of
Agency-owned land located at the northerly end of Sunrise Way to K. Hovnanian to
further facilitate the development of a major single-family-home development
adjacent to Merged Project No. 1.
SUMMARY:
The approval of the proposed resolution would authorize the amendment of the
existing Agreement with Burnett Development Corporation whose interests have
been assumed by K. Hovnanian Companies (the "Developer'), through which
Developer previously acquired from the Agency two parcels of land located in the
vicinity of Sunrise Way and San Rafael Road for the purposes of developing market-
rate single family housing for seniors. The First Amendment would add to the two
previously conveyed properties a third parcel of land which measures approximately
50 feet by 920 feet, or 1.06+ acres, located along the northern edge of one of the
previously transferred properties. This additional irregularly shaped parcel is also
encumbered by a public utility easement, which limits the market value of the
property due to the parcel's limited future development potential. Based upon a
January 5, 2005 appraisal by MacKenzie Wagner&Associates, the Agency would
receive the appraised market value of$5,300 for the property plus the $2,900 cost
incurred by the Agency to conduct the appraisal, or a total of$8,200.
BACKGROUND:
Through a Disposition and Development Agreement approved by the Agency in
December 2002, the Burnett Development Corporation ("Burnett") acquired
approximately 41.38 acres of land from the Agency for a new senior housing
development at the northerly end of Sunrise Way. Excluded from this transaction
was a 50-foot by 920-foot strip of public right-of-way, which provided Desert Water
Agency("DWA")with access to its existing well sites in the vicinity of the project. K.
Hovnanian Companies("K. Hovnanian")subsequently acquired the property and the
rights under the DDA from Burnett and proceeded with final engineering and design,
as well as final mapping. In consultation with DWA, K. Hovnanian approached the
City regarding a previous condition of approval requiring the vacation of DWA's
existing well site access road.After meeting with DWA staff, it was disclosed that an
expensive re-design of the active DWA well site would be required in order for the
access to be taken from within the development. Additionally,this specific well site is �QQl
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a primary well for DWA, being located at the northerly end of its water distribution
area and in close proximity to the Whitewater River. DWA staff strongly objected to
possibility of having to shutdown their well site for a total reconfiguration in order to
take access from within the development and wants to own the strip.
After several meetings, staff conceded to DWA staff's objections, and supported K.
Hovnanian's removal of housing units within the 50 feet wide roadway and
maintaining the roadway as a private access road for DWA's well site. Following the
formal vacation of the public street right-of-way,the access road is to be improved to
DWA Standards by K. Hovnanian including a block wall along either side and gated
access at Sunrise Way. The Planning Commission recommended approval of these
revisions on March 24,2004,which the City Council subsequently approved on May
19, 2004.
On February 16, 2005, after the required public hearing, the City Council approved
the requested right-of-way vacation but reserving a public utility easement, thereby
restricting the future use of the parcel to access to the DWA well site. With the
vacation now completed, the proposed First Amendment to the Agreement would
allow for the sale of this remaining piece of Agency-owned property to K. Hovnanian
to allow for the full implementation of the approved project and recording on
TTM30058. DWA will then require K. Hovnanian to deed the land to them,with the
reserved public utility easement.
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(JOHt S. RA QOND
\\ ire or of C munity& Economic Development
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APPROVED: ��r =
Executive Director
ATTACHMENTS:
1. Agency Resolution
2. Notice of Public Hearing
3. First Amendment to Disposition and Development Agreement
T (I0002
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS
NOTICE OF PUBLIC HEARING
Proposed Amendment to Disposition and Development Agreement involving Sale of
Agency-Owned Land Adjacent to Merged Redevelopment Project Number 1
NOTICE IS HEREBY GIVEN THAT the Community Redevelopment Agency of the City of
Palm Springs ("Agency')will hold a public hearing at its meeting on Wednesday, March 2,
2005 to consider the proposed Amendment to an existing Disposition and Development
Agreement. The meeting begins at 7 p.m. or as soon as possible thereafter, in the City
Council Chamber of City Hall located at 3200 E. Tahquitz Canyon Way, Palm Springs,
California.
The purpose of the Public Hearing is to consider the proposed Amendment to a Disposition
and Development Agreement ("DDA") with K. Hovnanian Companies as successor in
interest to The Burnett Companies to allow for the sale of a 1.06+ acre parcel of Agency-
owned land located at the northerly end of Sunrise Way adjacent to Constituent Project Area
No. 9 of Merged Redevelopment Project No. 1 serving as access to a Desert Water Agency
well site, said parcel being more particularly described and shown on Exhibit"A" attached
hereto and made a part hereof, located in Section 35, Township 3 South, Range 4 East.
Copies of the DDA and Amendment are available for inspection at the City of Palm Springs
Community& Economic Development Department and the Office of the City Clerk at 3200
E. Tahquitz Canyon Way, Palm Springs, CA 92262.
At the public hearing,the Agency will consider all evidence and testimonyfor and againstthe
Amendment. All persons having any objections to the proposed Amendment may appear
before the Agency and show cause why the proposed Amendment should not be adopted.
At any time not later than the hour set for the hearing, any person(s) may file a written
statement with the City Clerk, of their objections to the proposed Amendment. Public
comment will end when the public hearing is closed. Any person wishing to challenge any
action taken by the Agency on the above matter following the public hearing may be limited
to raising in court only those issues raised at the public hearing or in written correspondence
submitted to the City Clerk at or prior to the public hearing.
Questions regarding this Notice or the proposed Amendment maybe directed to Curt Watts,-
Redevelopment Administrator at the City of Palm Springs Community & Economic
Development Department at 3200 E.Tahquitz Canyon Way, Palm Springs, CA 92262, (7 60)
323-8260.
MES THOMPSON
City Clerk
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CITY OF PALM SPRINGS VACATION OF
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DEPARTMENT
H&A LEGAL N0. 6252
LEGAL DESCRIPTION:
DESIGN BY: SCALE: FILE NO.:
EXHIBIT "A" B• ETEMADI 1" = 200' R-04-047
CHECKED BY: W.O. SHEET NO.:
R. WILLIAMS 1583-13X 2 OF 2
FIRST AMENDMENT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
This First Amendment to Disposition and Development Agreement (the "First
Amendment") is entered into this day of , 2005 (the "Effective
Date")by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
PALM SPRINGS, CALIFORNIA, a public body, corporate and politic, ("the Agency')and K
HOVNANIAN COMPANIES or its related entities,as successor to the interests of BURNETT
DEVELOPMENT CORPORATION (collectively, "Developer") under the Disposition and
Development Agreement dated December 18, 2002 (the "Agreement"), and is intended to
provide for an additional transfer of property for the completion of the Developer's
construction of the project.
RECITALS
A. 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 Section 33000 et. seq.) to carry out the purpose of
redevelopment in the City of Palm Springs ("the City').
B. Agencyand Developer entered into the Agreement through which Developerwas to
assemble the Site as described in the Agreement and prepare for the construction of a
major single-family home development (the "Project"), which Project would require
disposition to Developer of parcels located at the corner of Sunrise Way and San Rafael
Road, including two parcels equaling approximately 41.38 acres combined, owned by the
Agency.
C. Developer requires,for the purposes of completing the Project and including Desert
Water Agency("DWA")access to a well site located within the Site, an additional parcel of
Agency-owned land measuring approximately 50 feet by 920 feet, or 1.06+ acres (the
"Parcel"), which is encumbered by a public utility easement and which is located along the
northern edge of property previously conveyed by the Agency to Developer.
D. Agency desires to sell the Parcel to Developer to return the land to productive use
and facilitate additional market-rate development in the area around the Site, including the
generation, of property taxes and provide for public improvements that benefit the Agency's
Merged Project No. 1.
E. Section 33430 of the Community Redevelopment Law allows that an agency may,
"for purpose of redevelopment, sell, lease for a period not to exceed 99 years, exchange,
subdivide, transfer, assign, pledge, encumber by mortgage, deed of trust, or otherwise
dispose of any real or personal property or any interest in property'.
F. The purchase of the Parcel by Developer is at fair market value and the First
Amendment therefore does not contain any Agency financial assistance to the project.
G. A Notice of Public Hearing concerning the First Amendment was published in
accordance with applicable law.
H. Agency has considered the staff report, and all the information, testimony and
evidence provided during the public hearing on March 2, 2005.
NOW, THEREFORE, based upon the foregoing recitals and the terms, conditions,
covenants, and agreement contained herein, the parties hereto agree to amend the
Agreement as follows:
I C 6005
Section 1. Developer and Agency agree that Section 1. Definitions shall be
amended to add Section 1.19 to read as follows:
Section 1.19 Lot C Remainder shall be added to read as follows:The term
"Lot C Remainder"shall mean that certain real property as specifically described and
shown on Exhibit"G" attached hereto and incorporated herein by this reference.
Section 2. Developer and Agency agree that Section 3.1(a)Identification shall be
amended to read as follows:
Section 3.1(a) Identification. Developer is K. Hovnanian Companies of
California, Inc. or its related entities, as successor to the interests of Burnett
Development Corporation under this Agreement. The principal office of Developer
for the purposes of this Agreement is located at 2495 Campus Drive, Irvine, CA
92612. Developer warrants and represents to Agency that Developer is qualified to
do business in good standing under the laws of the State of California and has all
requisite power and authority to carry out Developer's business as now and
whenever conducted and to enter into and perform Developer's obligations under
this Agreement.
Section 3. Developer and Agency agree that Section 5. Acquisition and
Disposition of the Site shall be amended to add Section 5.15 to read as follows:
Section 5.15 Sale of Lot C Remainder. Subject to all of the terms and
conditions of this Agreement,Agency shall convey Lot C Remainder to Developerfor
the total purchase price of Eight Thousand Two Hundred and 00/100 Dollars
($8,200.00) to be paid in cash at closing. The Grant Deed transferring Agency's
ownership of Lot C Remainder to Developer shall be substantially in the form
attached hereto as Exhibit"H",shall reserve a public utility easement as determined
by the City's Engineering Department and shall, upon Developer's satisfactory
completion of Developer's obligations under the provisions of the Amendment, be
recorded in the appropriate records of Riverside County, California.
Section 4. Developer and Agency agree that except as provided herein, the
Agreement continues unmodified and in full force and effect.
IN WITNESS WHEREOF Agency and Developer have executed this Amendment as
of the date first written above.
"AGENCY'
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, a public
body, corporate and politic
By: By:
As 'scant Secretary Executive Director
APPR AS TO FOO:
Ogency Counsel C 0000
(Corporations require two notarized signatures:One from
each of the following:A.Chairman of Board,President or
any Vice President;AND B.Secretary,Assistant
Secretary,Treasurer,Assistant Treasurer, or Chief
Financial Officer)
"DEVELOPER"
K. HOVNANIAN COMPANIES
OF CALIFORNIA, INC.,
a corporation
By:
Signature(Notarized)
Print Name and Title
By:
Signature(Notarized)
Print Name and Title
te0 0`
EXHIBIT"G"
Legal Description for Lot C Remainder
EXHIBIT"A"
LEGAL DESCRIPTION
Lot C of Tract No. 17642-1, as shown by a map on file in Book 122, Pages 88 through 90, inclusive,
of Maps, Records of Riverside County.
Except that portion of said Lot C lying within Parcel 1 and Parcel 2 of Lot Line Adjustment No.
LLA 99-12, recorded April 29, 2003, as Instrument No. 2003-300163 of Official Records of said
County.
VAND
Rory�liams, L.S.No. 6654 J Rory S. Williams
License Eff nes- December 31, 2005 Exp.12131105
Date: US
No. 6654
(PI
9TFOF CAUFO��\P
Revised: January 28,2005
November 17,2004
WO No. 1583-13X
Page 1 of 1
H&A Legal No. 6252
By R. Williams ( ()UO3
Checked By J.Stablein
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CITY OF PALM SPRINGS VACATION OF
PUBLIC WORKS & ENGINEERING RIGHT-OF-WAY
DEPARTMENT
H&A LEGAL N0. 6252
LEGAL DESCRIPTION:
DESIGN BY: SCALE: FILE NO.:
SEE EXHIBIT "A" B. ETEMADI 1" = 200' R-04-047
CHECKED BY: W.O. SHEET NO.:
R. WILLIAMS 1583-13X 2 OF 2
EXHIBIT"H"
Grant Deed for Lot C Remainder
Recording
Requested by and
After Recording
Return to:
City Clerk
City of Palm Springs
Box 2743
Palm Springs CA 92263 (FOR RECORDERS USE ONLY)
Pursuant to Government Code Section 6103,this document is being recorded as a benefit to the City of Palm Springs and recording fees shall not apply.
Pile No.R-04-047 NO DOCUMENTARY STAMPS NEEDED
GRANT DEED
For a valuable consideration, receipt of which is hereby acknowledged, the Cormnunity Redevelopment Agency
of the City of Palm Springs, a public body, corporate and politic, GRANTOR, hereby grants to K. Hovnanian's
Four Seasons at Palm Springs, LLC, a California Limited Liability Company, GRANTEE, the following
described property in the City of Patin Springs, County of Riverside, State of California, described as follows:
Being the parcel of land described in Exhibit "A" and shown on Exhibit "B" attached hereto and made a part
hereof.
Date: Community Redevelopment Agency of the City of
Palm Springs, a public body, corporate and politic
Attest By
James Thompson Assistant Secretary Ron Oden Chairman
Printed Name and Title pinned Name and Title
( r- G012
ALL-PURPOSE ACKNOWLEDGMENT
State of
CAPACITY CLAIMED BY SIGNER
County of ❑ INDIVIDUAL(S)
On before me, ❑ CORPORATE
OFFICER(S)
Date Name, Title of Officer TITLE(S)
personally appeared ElPARTNER(S)
NAMF(S) OF SIGNER(S) ❑ ATTORNEY-IN-FACT
❑personally known to me-OR- ❑ TRUSTEE(S)
❑ SUBSCRIBING WITNESS
❑ proved to me on the basis of satisfactory evidence to be the persons(s) whose name(s) ❑ OTHIAN/CONSERVATOR
ER
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 persons(s)acted,executed
the instrument.
SIGNER IS REPRESENTING:
Witness my hand and official seal.
Signature of Notary
ATTENTION NOTARY: Although the information requested below is OPTIONAL, it could prevent fraudulent attachment of this
certificate to unauthorized document.
THIS CERTIFICATE Title or Type of Document
MUST BE ATTACHED
TO THE DOCUMENT Number of Pages DATE of DOCUMENT
DESCRIBED AT RIGHT:
Si ner(s) Other Than Natned Above
C 061+7
F r
EXHIBIT ,A,,
LEGAL DESCRIPTION
Lot C of Tract No. 17642-1, as shown by a map on file in Book 122, Pages 88 through 90, inclusive,
of Maps, Records of Riverside County.
Except that portion of said Lot C lying within Parcel 1 and Parcel 2 of Lot Line Adjustment No.
LLA 99-12, recorded April 29, 2003, as Instrument No. 2003-300163 of Official Records of said
County.
RoryY Williams, L.S. No. 6654
License E fpires December 31, 2005 Rory S. Williams 0
Date: \ o U5� Exp.12/31/05
No. 6654
9TFOF cp'0 O�
Revised:January 28,2005
November 17,2004
WO No. 1583-13X
Page 1 of 1
H&A Legal No. 6252
By R. Williams
Checked By J. Stablein ( r0,014
RESOLUTION NO. 1276
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF PALM SPRINGS, CALIFORNIA APPROVING THE FIRST
AMENDMENT TO A DISPOSITION AND DEVELOPMENT
AGREEMENT WITH K. HOVNANIAN COMPANIES OF CALIFORNIA,
INC., SUCCESSOR TO THE INTERESTS OF BURNETT
DEVELOPMENT CORPORATION UNDER THE DISPOSITION AND
DEVELOPMENT AGREEMENT, FOR THE PURCHASE AND
DEVELOPMENT OF A 1.06+ ACRE OF AGENCY—OWNED LAND
KNOWN AS LOT"C" REMAINDER
WHEREAS,the Community Redevelopment Agency of the City of Palm Springs, California
("Agency')is constituted under the Community Redevelopment Law(California Health and
Safety Code Section 33000 et. seq.)to carryout the purpose of redevelopment in the City of
Palm Springs ("the City'); and
WHEREAS, the Agency and Developer entered into that certain Disposition and
Development Agreement (the "Agreement'), which was approved pursuant to Agency
Resolution No. 1204 adopted on December 18, 2002, to effectuate the development of
single family homes located in and near Constituent Project Area No. 9-C of Merged Project
No. 1; and
WHEREAS, in the process of implementing the terms of the Agreement, the Developer
requires additional property to complete the single family home development and to
accommodate Desert Water Agency access to a well site located within the development;
and
WHEREAS,the Agency owns a parcel of land measuring approximately 50 feet by 920 feet,
or 1.06+ acres (the "Parcel'), located along the northern edge of property previously
conveyed to the Developer for the purposes of developing the single family homes; and
WHEREAS,the Agency desires to sell the parcel to K. Hovnanian Companies,as successor
to the interests of Burnett Development Corporation (the "Developer") under the existing
Agreement, to return the land to productive use and facilitate additional market-rate
development in the area around the site, including the generation of property taxes and
provide for public improvements that benefit the Project Area; and
WHEREAS, Section 33430 of the Community Redevelopment Law allows that an agency
may, "for purpose of redevelopment, sell, lease for a period not to exceed 99 years,
exchange, subdivide, transfer, assign, pledge, encumber by mortgage , deed of trust , or
otherwise dispose of any real or personal property or any interest in property" and
WHEREAS,the purchase of the Parcel bythe Developer is at fair market value and the First
Amendment to the Agreement therefore does not contain any Agency financial assistance to
the project; and
WHEREAS, a Notice of Public Hearing concerning the First Amendment to the Disposition
and Development Agreement was published in accordance with applicable law; and
WHEREAS, the Agency has considered the staff report, and all the information, testimony
and evidence provided during the public hearing on March 2, 2005.
NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs, California as follows:
Resolution 1276
Page 2
SECTION 1. The above recitals are true and correct and incorporated herein.
SECTION 2. Pursuant to the California Environmental Quality Act (CEQA), the
Community Redevelopment Agency finds as follows:
a) In connection with the previous approval of the Disposition and
Development Agreement, the eastern portion of the project
received approval of a Mitigated Negative Declaration in May
2002 based on the preparation of an Initial Study and the
recommendation of the Planning Commission. Mitigation
measures are included in the project design and adopted as part
of the Conditions of Approval for the Project. The remaining
portion of the project site, Palm Springs West, received approval
of a Mitigated Negative Declaration in December 2002 based on
the preparation of an Initial Study and the recommendation of the
Planning Commission. Mitigation measures are included in the
project design and adopted as part of the Conditions of Approval
for the project.
b) The Agency previously found that the Planning Commission
adequately discussed the potential significant environment
effects of the proposed project (land use, traffic/circulation,
parking,air quality, noise, aesthetics,geology/soils,waterquality,
drainage, public utilities, public safety, archaeological/historic
resources and light and glare). The Community Redevelopment
Agency further found that the Mitigated Negative Declaration
reflected its independent judgment.
SECTION 3. The Developer is required to make certain street improvements in
keeping with City codes. Such offsite improvements are imperative
to this project, such as reconstructing curb, gutter and sidewalks
along Sunrise Way and maintaining existing access from Sunrise
Way to a Desert Water Agency well site located within the project.
This project improves a blighted parcel near Project Area No. 9
Constituent Area of Merged Redevelopment Project No. 1 and will
increase tax increment to the Agency and property tax and sales tax
collections to the City through the development of new market-rate
homes in an underdeveloped portion of the city.
SECTION 4. The Agency does hereby find and determine as follows:
(a) The Agency wishes to convey a 50-foot by 920-foot strip of
Agency-owned land providing the Desert Water Agency access
to its existing well sites in the vicinity of the project to Developer,
the public right-of-way on said land having been vacated by the
City of Palm Springs per action taken on February 16, 2005 and
said land to continue to be encumbered by an existing public
utility easement.
(b) The First Amendment to the Disposition and Development
Agreement effectuates the purpose of the Community
Redevelopment Law as it is intended to eliminate blight and
promote the health, safety and general welfare of the people of
Palm Springs.
Resolution 1276
Page 3
SECTION 5. The Community Redevelopment Agency shall receive$8,200,for the
transfer in ownership of the property per the terms of the First
Amendment to the Agreement.
SECTION 6. The proposed project is consistent with the Implementation Plan for
Merged Project No. 1 which includes the adjacent Constituent Project
Area#9-C, and this project will increase tax increment and spur new
residential activities in the project area. It will increase the city's
commercial sector by developing a new population center in the City,
creating new shoppers for the retailers in the north end of Palm
Springs.
SECTION 7. Based on foregoing reasons, the First Amendment to the Disposition
and Development is hereby approved and incorporated herein by this
reference.
SECTION 8. The Executive Director, or his designee, is hereby authorized to
execute on behalf of the Agency the First Amendment to the
Disposition and Development Agreement and other documents
necessary to the Agreement, and make minor changes as may be
deemed necessary, in a form approved by Agency Counsel.
ADOPTED this 2nd day of March 2005.
AYES: Members Foat, McCulloch, Mills, Pougnet and Chairman Oden
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
CALIFORNIA
By
.Assistant Secretary Ph fman
REVIEWED&APPROVED AS TO FORM r
Resolution 1276
Page 4 EXHIBIT "B"
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CITY OF PALM SPRINGS VACATION OF
PUBLIC WORKS & ENGINEERING RIGHT-OF-WAY
DEPARTMENT
H&A LEGAL N0. 6252
LEGAL DESCRIPTION: DESIGN BY: SCALE: FILE NO.:
SEE EXHIBIT ::A:: B. ETEMADI 1" = 200' R-04-047
CHECKED BY: W.O. SHEET NO.:
R. WILLIAMS 1583-13X 2 OF 2
RESOLUTION NO. 21218
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA CONCURRING WITH THE COMMUNITY
REDEVELOPMENT AGENCY REGARDING THE APPROVAL OF
THE FIRST AMENDMENT TO DISPOSITION AND DEVELOPMENT
AGREEMENT WITH K. HOVNANIAN COMPANIES OF CALIFORNIA,
INC., SUCCESSOR TO THE INTERESTS OF BURNETT
DEVELOPMENT CORPORATION UNDER THE DISPOSITION AND
DEVELOPMENT AGREEMENT, FOR THE PURCHASE AND
DEVELOPMENT OF A 1.06+ ACRE OF AGENCY—OWNED LAND
KNOWN AS LOT"C" REMAINDER
NOW,THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Springs that
it concurs with the action of the Community Redevelopment Agency regarding the approval
of the First Amendment to a Disposition and Development Agreement with K. Hovnanian
Companies of California, Inc., successor to the interests of Burnett Development
Corporation under the Disposition and Development Agreement, for the purchase and
development of a 1.06+ acre of Agency-owned land known as Lot"C" Remainder.
ADOPTED this 2nddayof March 2005.
AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED&APPROVED AS TO FORM
Resolution 21218
Page 2 EXHIBIT lisle
Noon \ \
POP-
PALM
a°` sAi CITY OF PALM SPRINGS VACATION OF
y PUBLIC WORKS & ENGINEERING RIGHT-OF-WAYDEPARTMENT
H&A LEGAL N0, 6252
LEGAL DESCRIPTION; DESIGN BY: SCALE: FILE NO.:
SEE EXHIBIT "A" B. ETEMADI 1" = 200' R-04-047
CHECKED BY: W.O. A SHEET NO.:
R. WILLIAMS 1583-13X 2 OF 2
RESOLUTION NO, 21219
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, AMENDING THE BUDGET FOR THE 2004-
05 FISCAL YEAR.
WHEREAS Resolution 20973 approving the budget for the fiscal year 2004-05 was adopted
on June 9, 2004; and
WHEREAS the City Manager has recommended, and the City Council desires to approve,
certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized to record
inter-fund cash transfers as required in accordance with this Resolution, and that Resolution
20973, adopting the budget for the 2004-05 fiscal year is hereby amended as follows:
SECTION 1. ADDITIONS
Fund Activity Account Amount
No. 001 12416 $370,000
General Fund Redevelopment
Agency Loans
Receivable
Purpose: New loan(at 6%effective 312/05)to Merged Area#1 Capital Projects to cover VIP
Motors land swap. Loan will be repaid when land swap is completed.
SECTION 2. SOURCE
Fund Activity Account Amount
No. 811 Merged 29301 $370,000
Area#1 Capital & Fund Balance
Admin.
Adopted this end day of March , 2005.
AYES: Members McCulloch, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ABSTAIN : Members Foat and Mills
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk City Manager
REVIEWED AND APPROVED
AS TO FORM