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Home My WebLink About02841 - VISION PS CANYON DEVELOPMENT CANYON HOTEL ADLER CANYON PROPERTIES MURRAY SPC PROJECT STUDY Cindy Berardi From: Craig Ewing Sent: Wednesday, September 29, 2010 1:27 PM To: Cindy Berardi Subject: RE: A2841 Canyon Development Cindy, According to a 2003 City Council staff report, "The Canyon Park Resort and Spa Specific Plan (SP--1) was originally approved on July 19, 1991 ..." This agreement must have been the work agreement for that plan, which is long completed. You may close it out. Craig A. Ewing, AICP Director of Planning Services City of Palm Springs 3200 E. Tahquitz Canyon Way Palm Springs, CA 92262 760-323-8269 "Go all the way, then come back." - Harley Earl From: Cindy Berardi Sent: Wednesday, September 29, 2010 12:24 PM To: Craig Ewing Subject: A2841 Canyon Development Craig, the attached Pre-Development Cooperation Agreement was facilitated by the Planning Department and I am curious whether it can be closed or not? It's an old one! Thank you. <<File: A2841 Canyon Development LP.pdf» ❑CFIAy city cictri< Office of the city Clerk City of Palm Springs P. O. Box 2743 Palm Springs, CA 92262 (760) 322-8355 Cindy.BerardiP almspringsca.gov Please note the office hours for City Hall are Monday-Thursday 8am-6pm, and we are closed on Fridays. Canyon Development, L.P. , PRE-DEVELOPKENT Adler Canyon Properties, Inc. COOPERATION AGREEMENT General Partner - SPC Area AGREEMENT #2841 Canyon Hotel R17126, 5-16-90 540 ac Proj. The purpose of this pre-development cooperation agreement (herein referred to as the Agreement) is to set forth the basis upon which the City of Palm Springs (herein referred to as the City) , and Canyon Development L.P. (CDLP) (herein referred to as the Developer) , will mutually pursue the development of "Vision Palm Springs/Southern Sphere" (herein referred to as the Project) . A. Project The Developer proposes to perform the role of Developer for the Southern Luxury Sphere Project to be designed in phase two of the RFQ/RFP. This Agreement incorporates, by reference, the RFQ/RFP and related documents. B. Study Area The Project Study Area consists of an approximate 540 acres east and west of South Palm Canyon Drive, south of Murray Canyon Drive and north of Acanto. The Project Study Area includes an approximate 40 acre sub- division to the north and south of Bogert Trail . Said subdivision is irregular in nature and is in the center of the described boundaries. The Project Study Area is surrounded by the Santa Rosa Mountains on the east and west (together with all the foregoing, collectively referred to as the Study Area) . This agreement gives CDLP the exclusive right to proceed as the Master Developer of the Southern luxury sphere, the study area. C. Assistance to be Provided by the City 1. Land Acquisition It is the intent of the City to utilize its best efforts to assist the Developer in land assembly to acquire the appropriate acreage for the Project. This assistance would include, but is not limited to, condemnation authority of the Redevelopment Agency, if a redevel- opment area were to be formed for the subject area. 2. Financing a. The City, in conjunction with the Developer of the Southern Luxury Sphere (CDLP) , will utilize its best efforts to conceive, package, and issue appropriate, properly guaranteed taxable and tax-exempt financing for both public and private improvements associated with the Project. This assistance includes, but is not limited to, industrial development bonds, certificates of participation, assessment district bonds, special bonds, sales tax revenue bonds, and tax increment financing. It is the intent, to the extent feasible, that the Project financing will stand on its own. b. The City recognizes that the Developer may ask that the cost of a portion of the public improvements will be borne by the City or the Redevelopment Agency. The exact amount and portion of improvements will be the result of future negotiation between the City and the Developer, and the ability of the City to establish a Redevelopment Project Area. 3. Processing The City will provide staff assistance and organizational support to assure minimum processing time for review of submitted plans and to expedite processing and construction. 4. Amenities Concurrent with the Project implementation, the City will utilize its best efforts to facilitate a Master Plan for the City leading to the Development of a renewed downtown, destination resort hotels, golf courses, sports and entertainment facilities, streetscapes, cultural facilities, and other enhancements to the City to further the development of the City of Palm Springs. D. Developer Responsibilities 1. Drawings and Design Documents The development plan package will include, at a minimum, the following: a. Functional Program(s) A narrative description of the square footage allocated to each functional use within the Project. b. Site Plan(s) A fully dimensional plan illustrating proposed building locations, parking, landscape and hardscape areas, and finished floor and roof elevations. c. Rendered Site Plan(s) A rendering utilizing the above-described site plan(s) to provide a colored overall view of the Project. d. Design Theme(s) A narrative description of proposed design treatments including -2- - • o architecture, landscape, streetscapes, and design relationships between components. e. Submission requirements set forth in Planned Development District Application. 2. Development Incentives The plan should include business terms for each development incentive the Developer proposes the City of Palm Springs make available to the Project, including a complete financial proforma outlining (a) the City' s repayment capacity; (b) any offsetting financial benefits that will be derived by the City; and (c) any financial linkages or synergism between components of the development proposal . 3. Development Schedule The development schedule should contain items pertaining to pre- development, financing and construction. The relationship of develop- ments in different areas of the City should also be addressed in the schedule. 4. Outside Consultant Cost Sharing Upon notification by the City, the Developer will be required to deposit with the City its prorata share of $125,000 as Developer' s appropriate share of one-half of the costs of third-party consulting services. These funds will be requested by the City and paid monthly in advance by the Developer as required in order to defray one-half of the actually invoiced costs of related outside consultants involved by the City. The share required from CDLP will be as established by staff unless appealed to the City Council . 5. Fees Subject to possible future negotiation concerning special allowances and terms, normal development application fees and applications will be required during Project processing. E. Mutual Responsibilities 1. Timetable Both parties agree to utilize their best efforts to complete the master land use plan and financing plan within 18 months and to review progress, on a quarterly basis, with the community. 2. Development Agreement Both parties agree to work toward a Development Agreement outlining specific responsibilities, provisions, schedule of events, construction and performance of all parties connected with the development of the Project. 3. Modification This agreement may be terminated, modified or expanded by supplemental mutual agreement. 4. Termination The City reserves the right to terminate this Agreement prior to -3- the end of 18 months to the extent that following thirty days' prior written notice of its default the Developer has not complied with the stated requirements herein, particularly the development schedule. The undersigned hereby represent and agree that the foregoing represents their understanding of the agreements between the parties and agree in good faith to finalize a Development Agreement incorporating the above terms. Developer: CANYON DEVELOPMENT L.P. ADLER CANYON PROPERTIES, INC. , Its General Partner, Title: ' '7 �1 ATTEST: f� CITY OF PALM SPRINGS, CALIFORNIA City Clerk City City Manager REVIEWED AND APPROVED -4-