HomeMy WebLinkAboutAgenda Report - June 3, 1981 (66)434
Continued June 3, 1981
EXTENSION OF
DEVELOPMENT
AGREEMENT FOR
LAS CASITAS
UNIT #1
APPROVED
Council received a copy of a letter from th.e
Hawaii and San Francisco Investment Company asking
for a time extension for the Development Agreement
for Las Casitas, Unit No. 1 and the reasons for
their request. No work has commenced as of May
28, 1981, and improvements are supposed to be
completed by June 1, 1981. Under the development
agreement, the City Council may unilaterally extend
the time for completion of the improvements;
however, it is felt that the City should also
receive acceptance of the Surety to insure the
continuation of improvement guarantees provided
by the developers.
COUNCIL APPROVED A TIME EXTENSION OF ONE YEAR
FOR THE DEVELOPMENT AGREEMENT FOR LAS CASiTAS,
UNIT NO. 1, AND AUTHORIZED THE CITY ATTORNEY TO
PREPARE A LETTER AGREEMENT WITH THE DEVELOPERS
TO BE EXECUTED BY THE CITY MANAGER AND CITY CLERK,
ALL SUBJECT TO ACCEPTANCE BY THE SURETY.
CITY OF LODI
PUBIIC WORKS DEPARTMENT
TO: City Council
COUNCIL COMMUNICATION
FROM: City Manager
DATE: May 28, 1981
SUBJECT: Extension of Development Agreement for Las Casitas Unit #1
RECOMMENDED ACTION: That the City Council approve a time extension of one year
or the Development Agreement for Las Casitas, Unit No. 1, and authorize the
City Attorney to prepare a Letter Agreement with the Developers to be executed
by the City Manager and City Clerk, all subject to acceptance by the Surety.
BACKGROUND INFORMATION: Attached is a copy of a letter received from Hawaii b
San Francisco Investment Co. asking for a time extension and the reasons for
their request. No work has commenced as of this date, and improvements are
supposed to be completed by June 1, 1981. Under paragraph 5 of the development
agreement, the City Council may unilaterally extend the time for completion of
the improvements, however, it is fA t that we should also receive acceptance
of the Surety to insure the continuation of improvement guarantees provided
by the developers.
There appears to be no reason that the time extension not be granted, and we
are recommending City Council approval.
Jac L. Ronsko
Publ c Works Director
cc: Glen Baumbach
John H. Johnson
Attach.
APPROVED:
HENRY A. CLAVES. City Manager
FILE 40.
HAWAsi & SAN FRANCISCO INVESTMENT COMPANY
107 J^CKSON STRECT 14151 666.4600
P. 0. ROX 3336
HAYWARD. CALIFORNIA 64540
coMTRACTORs uccxss No. 1717ss
May 13, 1981
City of Lodi
City Hall, 211 West Pine Street
Lodi, CA 95240
ATTENTION: G. E. Robison
RE: Las Casita s Unit /1
Dear Mr. Robison:
Please consider this letter our request for a 12 -month extension of
time in which to complete the subdivision improvements for the above
referenced project. Construction of the project was not possible
due to adverse economic conditions and excessively high interest
rates.
At this time it would be difficult to establish a schedule for construction
in as much as we cannot anticipate how soon favorable economic conditions
will occur. It is our intent and desire to begin the project within
the next 12 months. Once a firm starting date can be established,
we will contact you immediately.
Your granting of this request will greatly be appreciated. Please
contact me concerning the procedure and documents you will require
concerning this request for extension.
Very truly yours,
HAWAII b SAN FRANCISCO
INVESTMENT COMPANY
ohn H. Johnson
President
JHJ/cjh
cc: Glenn Baumbach
(RECEIVE
MAY 15 1981
Cff OF LOD1