HomeMy WebLinkAboutR23390 - Partial Completion for Phase III @ Falcon CrestContract No. R23390
PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: APPROVAL OF THE PARTIAL CERTIFICATE OF
COMPLETION FOR PHASE III (30 SINGLE-FAMILY
HOMES) AND THE MODELS PHASE (4 SINGLE-FAMILY
HOMES) AT THE FALCON CREST DEVELOPMENT
SUBMITTED BY: CATHERINE WALKER, SENIOR MANAGEMENT ANALYST
DEVELOPER: COMDYN PD, LLC
2800 28T" STREET, SUITE 206
SANTA MONICA, CA 90405
DATE: FEBRUARY 28, 2008
CONTENTS: PARTIAL CERTIFICATE OF COMPLETION
Recommendation:
By Minute Motion, that the Agency Board:
1. Approve the Partial Certificate of Completion for Phase III (30
single-family homes and the Models Phase (4 single-family
homes) at the Falcon Crest Development.
Discussion:
At the last regularly scheduled meeting of February 14, 2008, the Agency Board
formally accepted Phase III of Falcon Crest, and at the October 11, 2007 meeting
of the Agency Board, the Models Phase of Falcon Crest was formally accepted.
In accordance with Section 1.4 of the Agreement, after Acceptance for a phase
has been issued, the Agency shall take forward for approval a "Partial Certificate
of Completion".
Each of the five phases of construction will require a "Partial Certificate of
Completion", after Acceptance by the Agency Board. Upon completion of the
duties outlined in the marketing and for -sale plan, Exhibit BA of the Agreement
Staff Report
Approval of Partial Certificate of Completion for Models Phase and Phase III of
Falcon Crest Developments
Page 2 of 2
February 28, 2008
and Acceptance of each phase, the issuance of the "Final Certificate of
Completion" will be brought forth for Agency Board approval.
Submitted By:
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Catherine Walker
Senior Management Analyst
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Approval:
Department Head:
Dave Yrigo;development/Housing
Director of
Paul S. Gibson, Director of Finance
J ti McCarthy Carlos L. Ora, Executive Director
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Contract No. R23390
PARTIAL CERTIFICATE OF COMPLETION
This Partial Certificate of Completion is given this _ _ day of February, 2008, with
reference to the following matters:
A. The PALM DESERT REDEVELOPMENT AGENCY, a public body
corporate and politic (the "Agency") and COMDYN PD, LLC, a California limited liability
company (the "Developer") entered into a certain Agreement Between the Palm Desert
Redevelopment Agency and Comdyn PD, LLC for Fee Developer Services for Agency Owned
Property Located in the City of Palm Desert (the "Agreement"), which Agreement provides, in
Section 1.4 thereof, that the Agency shall furnish the Developer with a Partial Certificate of
Completion upon completion of construction of the phases of the For Sale Housing and Rental
Housing (each as described in the Agreement) (the "Improvements") and located on the real
property described in Exhibit "A" attached hereto (the "Site"); and
B. This Partial Certificate of Completion shall be evidence of satisfactory completion
of the construction of the Improvements required with respect to the Site.
NOW, THEREFORE, the parties to this instrument hereby provide as follows:
1. As provided in the Agreement, this Partial Certificate of Completion does hereby
evidence that the construction of the Improvements on the Site has been completed in accordance
with the provisions of the Agreement and the Construction Documents (as defined in the
Agreement).
2. Except as described in Section 1 above, this Partial Certificate of Completion
shall not constitute evidence of compliance with or satisfaction of any obligations of the
Developer under the Agreement.
PALM DESERT REDEVELOPMENT
AGENCY, a public body, corporate and politic
By:
Name: Jean M. Benson
Title: Chairman
ATTEST:
Rachelle D. Klassen, Secretary
P6402-020 1\1006300v 1.doe
Contract No. R23390
EXHIBIT "A"
I.EGAI. DESCRIPTION OF THE PROPERTY
Phase Three Sim le-Familv Homes:
Lots 5 through 29, inclusive, and Lots 46 through 50, inclusive, of Tract No. 30795, as shown on
a Subdivision Map filed on June 7, 2006, in Book 406 at Pages 73 to 80, inclusive, of Maps, in
the Office of the Riverside County Recorder.
Models Phase Single-Familv Homes:
Lots 1 through 4, inclusive, of Tract No. 30795, as shown on a Subdivision Map filed on June 7,
2006, in Book 406 at Pages 73 to 80, inclusive, of Maps, in the Office of the Riverside County
Recorder.
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P6402-0201\1006300vLdoc