REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Sean Joyce, Interim City Manager
VIA: Sean Crumby, Director of Public Works
PREPARED BY: Steve Bogart, Senior Civil Engineer
Subject:
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Approve and authorize execution and recordation of the First Amendment to Amended and Restated License and Maintenance Agreement with DCO Pacific City LLC, PC Group Retail LLC and Pacific City Hotel LLC for the Pacific City Project (Tract 16338)
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Statement of Issue:
The First Amendment to Amended and Restated License and Maintenance Agreement for the Pacific City project (Tract 16338) is presented for City Council consideration. The amendment will update the agreement with the current property ownership.
Financial Impact:
Not Applicable.
Recommended Action:
recommendation
Approve and authorize the Mayor and City Clerk to execute and record the "First Amendment to Amended and Restated License and Maintenance Agreement" with DCO Pacific City LLC, PC Group Retail LLC and Pacific City Hotel LLC for the Pacific City project (Tract 16338) (Attachment 1).
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Alternative Action(s):
Do not authorize execution of the First Amendment to Amended and Restated License and Maintenance Agreement for the Pacific City project with findings for denial, and direct staff accordingly. Absent this amended agreement, the desired distribution of ownership responsibilities (to the Hotel parcel owner) would not be achievable and the previously recorded Amended and Restated License and Maintenance Agreement would remain in place.
Analysis:
In August 2007, City Council approved Final Tract Map No. 16338 for the Pacific City Development and a number of agreements between the City and the original developer, Makallon Atlanta Huntington Beach, LLC, including a License and Maintenance Agreement (LMA).
In 2012, the project's residential parcel was sold to Crescent Heights (21002 HB) and the commercial parcel was sold to DJM (PC...
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