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HomeMy WebLinkAboutDevelopment Agreement 96-1 Amendment 2-HTE 15-200 - WVC Rancho Mirage, Inc.CITY OF PALM DESERT ordinance No. 1289 DEPARTMENT OF COMMUNITY DEVELOPMENT STAFF REPORT REQUEST: CONSIDERATION OF AN AMENDMENT TO A DEVELOPMENT AGREEMENT FOR STARWOOD VACATION OWNERSHIP LOCATED AT 39-500 PORTOLA AVENUE. SUBMITTED BY: Tony Bagato, Principal Planner APPLICANT: WVC Rancho Mirage, Inc. c/o: Starwood Vacation Ownership 9002 San Marco Court Orlando, FL 32819 CASE NOS.: DA 96-1 Amendment 2/HTE 15-200 DATE: August 27, 2015 CONTENTS: Ordinance No. 1289 , Exhibit "A" DA 96-1 Amendment #2 Starwood Fiscal Analysis Legal Notice Recommendation That the City Council waive further reading, and pass Ordinance No. to second reading approving Development Agreement 96-1 Amendment 2, which provides a 10 year time extension and modifies payment schedule of the Project Amenity Fee. Planning Commission On August 18, 2018, the Planning Commission reviewed and unanimously recommended approval of Development Agreement 96-1 Amendment #2. Executive Summary Approval of staff's recommendation will recommend to the City Council approval of an amendment to Development Agreement ("DA") 96-1. The amendment focuses on two (2) items: a time extension, and a waiver of the Minimum Project Amenity Fee (PAF). The first substantive change will extend the term of the DA by 10 years. The project entitlement is currently set to expire in 2016. The 10-year amendment will extend the term of the DA to February 27, 2026. The second substantive change to the DA is related to the waiver of a PAF that is required by the DA with the payment schedule identified in the Disposition and Development Agreement (DDA) that was executed by the City's former Redevelopment Agency. Staff Report DA 96-1 Amendment 2 — HTE 15-200 Page 2 August 27, 2015 Background: A. Desert Willow: Desert Willow Golf Resort was originally planned and constructed as a long-term economic tool for the City. The Master Plan, approved in 1994, provided for the development of a championship golf course, a resort course, a clubhouse, 600 timeshare units, a conference center, and four (4) hotels (two (2) around the clubhouse and two (2) at the southwest corner of Cook Street and Frank Sinatra Drive), totaling 1,050 rooms. The two (2) hotel sites on the southwest corner of Cook Street and Frank Sinatra Drive have been developed with a Residence Inn and Courtyard by Marriot for a total of 281 hotel units. In February of 1997, the City Council approved Development Agreement ("DA") 96-1, a precise plan of design and conditional use permit associated with a tentative tract map to allow 61 buildings totaling 311 timeshare units for Intrawest Resort Ownership Corporation within Desert Willow. Intrawest built 55 units and is planning on building 41 additional units in the future. In 2006, Intrawest sold the development rights for 215 units to Starwood Vacation Ownership. In 2007, the City Council approved Ordinance No. 1135, amending DA 96-1 by providing a total of 300 timeshare units for Starwood Vacation Ownership. B. Adjacent Zoning and Land Use: North: P.R.5 / Golf Course (18th green and vacant property) South: P.R.5 / Golf Course (12th green) East: P.R.5 / Golf Course (14th & 151h green and vacant) West: P.R.5 / Golf Course (131h, 16th, and 171h green) Proiect Descriotion The applicant is requesting approval of a second amendment to DA 96-1 as it relates to the entitlement term and the PAF that is required in the current DA. The first substantive change will extend the term of the DA by 10 years. The project entitlement is currently set to expire in 2016. The 10-year amendment will extend the term of the DA to February 27, 2026. The second substantive change to the DA will modify the minimum PAF payable under the DDA. PDMC Section 25.34.060 requires that all timeshare be developed in conjunction with a resort hotel having 500 or more rooms and an 18-hole golf course of not less than 6,400 yards. When a timeshare project cannot be built in conjunction with these requirements, the City has negotiated a fee that is paid to the City for providing the amenities for timeshare users. The original DA did not provide any adjustments of this fee if the actual projected number of units were not built in the time expected according to a projected build -out schedule in the Staff Report DA 96-1 Amendment 2 — HTE 15-200 Page 3 August 27, 2015 original DDA. With the downturn in the economy, the applicant has not built the units as rapidly as was projected. The City Council has granted several amendments to the DDA and a recent waiver of the PAF payments to reflect the actual number of units that have been built by the applicant, rather than the higher number that were projected during more robust economic times. As part of this amendment, the applicant is requesting that the PAF permanently be based on actual units built instead of a projected number, for which they continue to seek amendments and waivers. Starwood will continue to construct additional units, but at a slower pace than what was originally anticipated. With fewer units built, there is less of an impact on the golf course, which the fee is intended to support. Staff believes that requiring the fee based on units actually built is a fair request by the applicant. Environmental Review: According to the California Environmental Quality Act (CEQA), staff must determine whether a proposed activity is a project subject to CEQA. If the project is subject to CEQA, staff must conduct a preliminary assessment of the project to determine whether the project is exempt from CEQA review. If a project is not exempt, further environmental review is necessary. Further review from a non-exempt project would result in a Negative Declaration, a Mitigated Negative Declaration, or an Environmental Impact Report (EIR). Generally, an EIR must be prepared if a project may have a significant impact on the environment. In this case, the City of Palm Desert, in its capacity as the Lead Agency for this project under the CEQA, has determined that the proposed project will have no forseeable impact on the environment and is therefore exempt from CEQA. The proposed project will merely change policy decisions made during the previous review. The project will not impact the environment. All development impacts were previously addressed in 2006 and the EIR previously approved for Desert Willow. Fiscal Analysis One (1) of the substantive amendments to the DA provides a waiver of the current PAF payment that is due under the DDA. The original DDA has a schedule for the payment of the PAF, which was calculated based on a number of anticipated units being built by the end of certain years. The amendment in the DA will change the timing of the PAF fees paid by Starwood to the City resulting directly from the change in the construction schedule, however, Starwood will continue to pay the PAF on all completed units, as opposed to the burden of paying PAF or units not currently built. The amended DA will allow Starwood to obtain corporate funding to continue to construct one building at a time. Staff prepared an economic analysis of the projected change in revenue based on two (2) assumptions; first that Starwood will build one (1) building per year with an average of 18 units per building, and the second assumption is that the Consumer Price Index (CPI) will average at 3 percent each year based on the per unit PAF payment of $6,005 last year. Based on these two (2) assumptions, staff has projected delay of expected Staff Report DA 96-1 Amendment 2 — HTE 15-200 Page 4 August 27, 2015 revenues of $3,543,020.56 based on the changed schedule. (See attached spreadsheet). The PAF payment is deposited into Fund 441 for capital improvements to Desert Willow. Staff does not anticipate any shortfall between needs and resources at Desert Willow that could be impacted by the change in revenues and the timing of these payments. Fund 441 has adequate reserves to fund the current 5-year capital plan for Desert Willow Golf Resort. Additionally, the current PAF revenue stream for the next 5- years, based on current conditions (Intrawest & Starwood), is projected to be $7.57 million. Although modifying the PAF payment schedule will reflect a change in the projected units built versus actual units, directly changing the expected revenues versus actual revenues, Starwood has paid 100% of the PAF for all units built. Unfortunately, Starwood has not built as many units as anticipated in 2006 because of the slow pace of sales associated with the downturn in the economy, and the fact that Starwood had to build a majority of the major amenities in the first phase of the project before there were a large number of units to offset the cost of the amenities. The original construction schedule was aggressive, and created to prevent the developer from delaying or ceasing construction. However, because of the economic downturn and the slow recovery of the economy, the Starwood property is competing with other Westin projects for investment dollars; and only those projects perceived as viably profitable projects are allocated funds. The burden of paying the PAF on units not completed hinders the project from obtaining corporate dollars to continue to construct one building per year. As a result, Starwood could be at risk of ceasing construction until the project is perceived by the corporate decision -makers as a viable project. Another revenue stream that will be impacted if Starwood decides not to continue to build out the remaining 144 units after this year is the Transient Occupancy Tax (TOT), which is recognized by the City General Fund when the Starwood properties are rented out to the general public as opposed to the timeshare property owners. If the remaining units are not built, the City General Fund could potentially lose $3,162,000 dollars in Transient Oriented Taxes (TOT) (based on current average TOT per Starwood unit) during the nine- year period of 2015-2023) In addition to lost TOT, an incomplete project sitting vacant would have a negative impact on Desert Willow and the built portion of the Starwood timeshare project. Staff recommends that the City Council approve the amendment to the Development Agreement, changing the projected construction schedule and PAF payments based on completed units as opposed to an anticipated completed unit schedule. There are currently 134 units completed and one (1) more building being constructed. The amended DA will provide PAF fees to the City per completed units and allow Starwood to continue to receive funding to ultimately complete construction of all 300 anticipated Staff Report DA 96-1 Amendment 2 — HTE 15-200 Page 5 August 27, 2015 units. The impact of the timing difference of PAF fees based on the amended DA is overshadowed by the goal to have the construction of all the building completed; and in the current economic climate of limited construction funds, certain changes should be considered by all parties to the DA to provide the foundation for a continuation of the Starwood Project at Desert Willow. Submitted By: 11 Tony Bagato, Principal Planner Reviewed: y Ac6sta, Assistant City Manger Paul Gibson, Director of Finance M. Wohlmuth, City Manager Department Head: / Lauri Aylaian, Director of Community Development ORDINANCE NO. 1289 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, APPROVING A SECOND AMENDMENT TO A DEVELOPMENT AGREEMENT FOR STARWOOD VACATION OWNERSHIP LOCATED AT 39-500 PORTOLA AVENUE. CASE NOS: DA 96-1 AMENDMENT 2/HTE 15-200 WHEREAS, the Planning Commission of the City of Palm Desert, California, did on the 18th day of August, 2015, hold a duly noticed public hearing to consider the request and adopted Planning Commission Resolution 2654 recommending approval to the City Council; and WHEREAS, the City Council of the City of Palm Desert, California, did on the 27tn day of August 2015, hold a duly noticed public hearing to consider the request by WVC Rancho Mirage, Inc. for approval of the above noted; and WHEREAS, according to the California Environmental Quality Act (CEQA), the City must determine whether a proposed activity is a project subject to CEQA. If the project is subject to CEQA, staff must conduct a preliminary assessment of the project to determine whether the project is exempt from CEQA review. If a project is not exempt, further environmental review is necessary. The application has complied with the requirements of the "City of Palm Desert Procedure for Implementation of the California Environmental Quality Act," Resolution No. 2014-41, in the Director of Community Development has determined that the proposed project is related to City policy decisions only and will not result in any significant impacts to the environment; and WHEREAS, at said public hearing, upon hearing and considering all testimony and arguments, if any, of all interested persons desiring to be heard, said City Council did find the following facts and reasons, which are outlined in the staff report reasons to recommend approval of the said request: NOW, THEREFORE the City Council of the City of Palm Desert, California, DOES HEREBY ORDAIN, AS FOLLOWS: SECTION 1: That the Development Agreement 09-507, Exhibit "A" attached hereto, by Ordinance No. 1289 is hereby approved. SECTION 2: That the City Clerk of the City of Palm Desert, California, is hereby directed to publish this ordinance in the Desert Sun, a newspaper of general circulation, published and circulated in the City of Palm Desert, California, and shall be in full force and effect thirty (30) days after its adoption. Ordinance No. 1289 PASSED, APPROVED, AND ADOPTED by the City Council of the City of Palm Desert, California, at its regular meeting held on the 27th day of August 2015, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Susan Marie Weber, Mayor ATTEST: RACHELLE D. KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA Ordinance No. 1289 SECOND AMENDMENT TO DEVELOPMENT AGREEMENT THIS SECOND AMENDMENT TO DEVELOPMENT AGREEMENT (the "Second Amendment"), dated as of , 2015 ("Effective Date") is entered into by and between the CITY OF PALM DESERT, a municipal corporation (the "City") and WVC RANCHO MIRAGE, INC., a Delaware corporation ("Starwood"). RECITALS This Second Amendment is entered into with reference to the following facts: A. City and Intrawest Resort Ownership Corporation, a corporation organized and existing under the laws of the Province of British Columbia, Canada ("IROC"), entered into a Development Agreement dated February 27, 1997 (the "DA"), which DA was recorded on August 29, 1997 as instrument number 315819 in the official records of the County Recorder for the County of Riverside, California. All capitalized terms used herein without definition when first used shall have the meanings set forth in the DA. B. The DA provided IROC with a vested right to develop certain real property in the City of Palm Desert ("IROC Property') as a resort club and time shares (the "Intrawest Project"). C. The Palm Desert Redevelopment Agency ("RDA") and IROC entered into that certain Disposition and Development Agreement dated February 13, 1997 which set forth the conditions for the sale of the IROC Property from the RDA to IROC, including but not limited to the payment of a Project Amenity Fee ("PAF") to the owner of the Resort Golf Course for each Unit to be built on the IROC Property, with payment based on a set schedule reflecting the anticipated rate of development of Units on the IROC Property. The Disposition and Development agreement was subsequently amended by a First Amendment (August 1, 1997), Second Amendment (January, 2003), Third Amendment (March 22, 2007) and Forth Amendment (2010) (collectively "DDA"). Pursuant to section 10.11 of the DDA, the City is a third party beneficiary to the DDA, with the right to enforce obligations on the City's behalf. D. On or about February, 1997, the City acquired the Resort Golf Course from the RDA and became the Resort Golf Course Owner as defined in the DDA. E. On or about October 12, 1998, IROC assigned and conveyed to Resort Ventures, L.P., a California limited partnership ("RV') all of IROC's rights, title, interest and obligations under and to the DA and all related project documents. F. On or about June 26, 2006, RV sold to Starwood all of its rights, title and interest in and to that portion of IROC Property described on Exhibit "A" attached hereto and incorporated herein by this reference (the "Starwood Property"). The City gave its consent to the transfer from RV to Starwood of any and all rights and obligations under the terms of the DA to the extent that such rights and/or obligations arise from 3 Ordinance No. 1289 ownership of the Starwood Property, and the RDA gave its consent to the transfer from RV to Starwood of any and all rights and obligations under the DDA to the extent that such rights and/or obligations arise from ownership of the Starwood Property. G. On or about June 26, 2006, Starwood applied for and the City approved a conceptual master plan (hereinafter the "Stanwood Master Plan") which provides for the development of 300 two -bedroom lockoff time share units in 18 two-, three- and four- story buildings and a one-story sales/clubhouse facility of approximately 40,000 square feet, along with recreational amenities (hereinafter collectively referred to as the "Starwood Project"). H. City and Starwood entered into that certain Amendment to Development Agreement (Development Agreement 06-03) dated as of May 10, 2007 (the "First Amendment") to revise the terms of the DA as it applies to the Starwood Property only, in order to facilitate the development of the Starwood Project. The RDA and Starwood concurrently entered into that certain Third Amendment to the Disposition and Development Agreement ("Third DDA Amendment,") which set forth a schedule for payment of the PAF on Starwood Units based on the then anticipated rate of development of the Starwood Property. I. In 2013, by State action, the RDA was dissolved, and the City became the successor agency to the RDA. J. City and Starwood now desire to amend the DA to extend the term of the DA, and to waive the payment of PAF on un-built Units. K. City has given notice of its intention to adopt this proposed Second Amendment, has conducted public hearings thereon pursuant to Government Code Section 65867 and Palm Desert Municipal Code Ordinances Nos. 341 and 589, has taken action in accordance with the California Environmental Quality Act, and has found that the provisions of this Second Amendment and its purposes are consistent with the objectives, policies, general land uses and programs specified in the City's General Plan and any applicable specific plan. L. The City, by electing to enter into this Second Amendment, acknowledges that the obligations of the City hereunder shall survive beyond the terms of the present City Council members of the City, and that such action will serve to bind City and future Councils to the obligations thereby undertaken. M. This Second Amendment and the consent of Starwood to each of its terms and conditions will eliminate uncertainty in planning and provide for the orderly development of the Starwood Property, eliminate uncertainty about the validity of exactions imposed by the City, and generally serve the public interest. 4 Ordinance No. 1289 AGREEMENT NOW, THEREFORE, in consideration of the above recitals and of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. The original DA specified a term of fifteen (15) years. That original term was extended for an additional four (4) years by the First Amendment. The parties now acknowledge that, through no fault of either party, the economic conditions in recent years have resulted in a much slower rate of development than was originally anticipated. Therefore, to assure full development of the Starwood Property as anticipated by both parties, the parties agree that the term of the DA shall hereby be extended for an additional ten (10) years beyond the term specified in the First Amendment, making the new expiration date for the DA February 27, 2026. 2. The DDA provides that the PAF is to be paid to the owner of the Resort Golf Course. As the owner of the Resort Golf Course, the City hereby waives the right to collect the PAF on un-built Units. The PAF shall be paid to the City for all Units that are built by Starwood Property. When a new Unit is constructed, the first annual payment of PAF for such Unit(s) shall be prorated based on the actual date of the Certificate of Occupancy for the building in which that Unit is located, and shall be due on the last day of the Payment Period during which that Unit's Certificate of Occupancy is issued. The PAF for previously built Units shall continue be due annually as set forth in the DDA. 3. Except as specifically amended by the First Amendment and this Second Amendment, the DA shall remain in full force and effect in accordance with its original terms and conditions, which are hereby restated and incorporated herein by reference. 4. Miscellaneous. 4.1 Binding Effect. This Second Amendment shall bind and benefit the heirs, successors, and assigns of Starwood and the City, respectively. 4.2 No Waiver. None of the terms or provisions of this Second Amendment may be waived, altered, modified, limited, or amended except by an agreement expressly referring hereto and to which the parties to be bound consent in writing. 4.3 Governing Law. This Second Amendment shall be governed by the laws of the State of California. 4.4 Reliance on Counsel/Entire Agreement. In executing this Second Amendment, no Party has relied on any inducements, promises, or representations by any other Party or its attorney, other than those set out in this Second Amendment. This instrument constitutes the entire, integrated understanding of the Parties with respect to the subject matter contained herein, and there are no other prior or 5 Ordinance No. 1289 contemporaneous oral or written agreements or understandings except as expressly set forth herein. 4.5 Severability. Each and every provision of this Second Amendment is and shall be construed as a separate and independent covenant and agreement. If any term or provision of this Second Amendment or the application thereof shall to any extent be held to be invalid or unenforceable, the remainder of this Second Amendment, or the application of such term or provision to circumstances other than those to which it is invalid or unenforceable, shall not be affected hereby, and each term and provision of this Second Amendment shall be valid and shall be enforced to the extent permitted by law. 4.6 Execution in Counterparts. This Second Amendment may be executed in two or more counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the parties hereto have entered into this Second Amendment as of the day and year first written above. "STARWOOD" WVC RANCHO MIRAGE, INC., a Delaware corporation By: Its: By: Its: "CITY" CITY OF PALM DESERT, a municipal corporation By: Mayor ATTEST: City Clerk 2 Ordinance No. 1289 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 rc-.rc�n<cc,��cxc:rrr�:c,�,crcf�r�r�cc,�r�,c:rrc�.tir�s�r.�-r.�rm�.rct.cx�.cw,x:crrs..^,c.-rs:r �,�rs:rc:.cmc�^�ccxres A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of On before me, Date Here Insert Name and Title of the Officer personally appeared Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) 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 person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature Signature of Notary Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: _ .... .. Signer(s) Other Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual 71 Attorney in Fact Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Document Date: Than Named Above: Signer's Name:..---.-- ::] Corporate Officer — Title(s):._- Partner — ❑ Limited C General ❑ Individual C Attorney in Fact Trustee ❑ Guardian or Conservator El Other: Signer Is Representing: .'(:r'.It�G�"�ti.`G/v"L��r�,`L•;fv"CJ`L5(,'L%ZCY%G'Z-`CGS£rC`t=%l.^C�C`''Gl':�%�`F=,1G�L :`�%LCQ7i.'L�,':c-L2'�)L�GC�C`Z.:(,"i�GY�.`Z:.(:L�-Z`L.`i�Z%CG4.`:G'L%C"K%4Y�,`Z=.C.^G,;'L:_5(K:(,��:'i:C�^C'%\' f/ Ordinance No. 1289 EXHIBIT A LEGAL DESCRIPTION OF STARWOOD PROPERTY Ordinance No. 1289 N N V 01 V1 A W N F+ O �D 00 01 lA A W _V a a w w u o+ a w w u u u a 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 a a a a a a a a a a a aaa a N N N N N N N N N N N N N N N O O O O O O O O O CDO O O O O N N N F+ F+ F+ F+ F+ F+ F+ O w N t+ O lD w v Q, O lD n � 7 n 00 A A A A A A W n j C 01 O O N f1 r' 7 C C 3 CL C C :i al N W W W W W W W W N N F+ 0 0 0 0 0 0 0 0 lD O O O O O O O O in O in O to to to H r) ` 7 D 3 A o C n er » d N N N N N N N N m N N m 00 A go 0 C 3 n D c m L c m a O O w 00 O, A N CD OD Q, P w a0 m A A 00 Vf N N N N N N N N D O v v v v m m m m m A 7 H w o 00 m va+ o0 O1 v 01 N lD�. M C Q1 N W lD N W V1 O N O D Q n Dd 1° o o 10 w c V+ 00 F+ w - m N ? 0 O N lft 00 V QD N A 00 W 00 W Q1 QD V A w 10 m ry 01 oAo m I m o c D 0 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 W F+ V W d f1 m m w 0 OD � Q� lA Qi I a r A M. D 3 D C G c C 00 O1 W Q1 Q� l/� O V W C 7 0 0 0 CDm O O Vl N O O P A w m 0 0 N V A N N N N N N N N A P1 7 00 A to 00 W 10 V O1 V D A 7 QI 00 00 N N W w A W N go A Of N A m�+Nag$m Ordinance No. 1289 73-310 PKFD WARING DI M1. PAW DFSERI, CAIJFORNIA 9226o-2y76 'rEL:760 346—o6ii MX: 760 3,11 - 7o98 info 'palm nc'—.')% CITY OF PALM DESERT LEGAL NOTICE CASE NOS DA 96-1 AMENDMENT #2 — HTE 15-200 NOTICE OF A PUBLIC HEARING BEFORE THE PALM DESERT CITY COUNCIL FOR CONSIDERATION OF A RECOMMENDATION FOR APPROVAL OF AN AMENDMENT TO A DEVELOPMENT AGREEMENT FOR STARWOOD VACATION OWNERSHIP. The City of Palm Desert (City), in its capacity as the Lead Agency for this project under the California Environmental Quality Act (CEQA), has determined that this project will have absolutely no environmental impacts from amending the Development Agreement as it related to policy decisions made by the City. No development will be associated with this project, and all development impacts were previously addressed in 2006 and the EIR previously approved for Desert Willow. Project Location/ Description: Proiect Location: 39-500 Portola Avenue Proiect Description: The applicant is requesting approval of a second amendment to DA 96-1 as it relates to the entitlement length and the Project Amenity Fee (PAF) that is due under the Disposition and Development Agreement (DDA). The first substantive change will extend the term of the Development Agreement (DA) by 10 years. The project entitlement is currently set to expire in 2016. The 10 year amendment will extend the term of the DA to February 27, 2026. The second substantive change to the DA will modify the PAF payable to the City under the DDA. Palm Desert Municipal Code (PDMC) Section 25.34.060 requires that all timeshare be developed in conjunction with a resort hotel having 500 or more rooms and an 18-hole golf course not less than 6,400 yards. When a timeshare project cannot be built in conjunction with these requirements, the City has negotiated a fee that is paid to the City for providing the amenities for timeshare users. In this case, the DDA required the applicant to pay a fee with payment schedule based on the number of anticipated units built each year. Recommendation: Staff is recommending approval of the amendments. Public Hearing: The public hearing will be held before the City Council on August 27, 2015, at 4.00 pm. Comment Period: Based on the time limits defined by CEQA, your response should be sent at the earliest possible date. The public comment period on this project is from August 17, 2015 to August 27, 2015 Public Review: The amended Development Agreement and related documents are available for public review daily at City Hall. Please submit written comments to the Planning Department. If any group challenges the action in court, issues raised may be limited to only those issues raised at the public hearing described in this notice or in written correspondence at, or prior to the Planning Commission hearing. All comments and any questions should be directed to: Tony Bagato, Principal Planner City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 (760) 346-0611 tbagato@cityofpalmdesert.org PUBLISH: DESERT SUN RACHELLE KLASSEN, City Clerk August 17, 2015 Palm Desert, California