HomeMy WebLinkAboutR23390 - La Rocca Villas & Falcon Crest - Final Cert of CmpltnFM
PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: APPROVAL OF THE FINAL CERTIFICATE OF
COMPLETION FOR BOTH THE LA ROCCA VILLAS AND
FALCON CREST DEVELOPMENTS
SUBMITTED BY: CATHERINE WALKER, SENIOR MANAGEMENT ANALYST
DEVELOPER: COMDYN PD, LLC
2800 28T" STREET, SUITE 206
SANTA MONICA, CA 90405
DATE: SEPTEMBER 25, 2008
CONTENTS: FINAL CERTIFICATE OF COMPLETION
Recommendation:
By Minute Motion, that the Agency Board:
1.. Approve the Final Certificate of Completion for both the La
Rocca Villas and Falcon Crest developments.
Discussion:
As per Contract No. R-23390 between ComDyn PD LLC and the Palm Desert
Redevelopment Agency, each of the five phases of construction requires a
"Partial Certificate of Completion" after Acceptance by the Agency Board. Upon
completion of the marketing and sale of the For -Sale Housing, as outlined in the
Sales and Marketing Plan, Exhibit B.4, the Agency is to deliver to ComDyn a
Final Certificate of Completion.
ComDyn has completed all five phases of the Falcon Crest and La Rocca Villas
developments. The Agency Board has accepted all five phases and granted
Partial Certificates of completion for each, as required by Section 1.4 of the
Agreement.
Staff Report
Approval of the Final Certificate of Completion for the La Rocca Villas and Falcon
Crest Developments
Page 2 of 2
September 25, 2008
Staff recommends approval for the issuance of the "Final Certificate of
Completion", as both developments are complete.
Submitted By:
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Catherine Walker
Senior Management Analyst
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Approval:
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Carlos L. Orteg xecutive Director
Department Head:
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Director Redevelopment/Housing
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Paul S. Gibson, Director of Finance
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Original on file with City Clerk's Office
G: rda Cathy Waller Word Data STAFF REPORTS Staff ComDyn Final Certificate of Completion doc
FINAL CERTIFICATE OF COMPLETION
This Final Certificate of Completion is given this 25th day of September 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 following completion of construction of
the phases of the For Sale Housing and Rental Housing (each as described in the
Agreement) and located on the real property described in Exhibit "A" attached hereto
(the "Site"), the Agency shall furnish the Developer with a Final Certificate of Completion
upon completion of the marketing and sale of the For Sale Housing, as described in the
Sales and Marketing Plan attached as Exhibit BA of the Agreement; and
B. This Final Certificate of Completion shall be evidence of satisfactory
completion of the marketing and sale of the For Sale Housing, as described in the Sales
and Marketing Plan attached as Exhibit BA of the Agreement.
NOW, THEREFORE, the parties to this instrument hereby provide as follows:
1. This Final Certificate of Completion does hereby evidence that the
marketing and sale of the For Sale Housing, as described in the Sales and Marketing
Plan attached as Exhibit B.4 of the Agreement, has been completed in accordance with
the provisions of the Agreement.
2. Except as described in Section 1 above, this Final 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
P6402-0201\1006300v2.doc
EXHIBIT "A"
LEGAL DESCRIPTION OF THE PROPERTY
TRACT MAP NO. 30795
BEING A SUBDIVISION OF PARCELS 2 AND 3, AS SHOWN ON PARCEL MAP NO.
30193, ON FILE IN BOOK 202, PAGES 86 THROUGH 88, INCLUSIVE, OF PARCEL
MAPS, TOGETHER WITH LOT "O", AS SHOWN ON AMENDED TRACT NO. 11215-1,
ON FILE IN BOOK 103, PAGES 31 THROUGH 37, INCLUSIVE, OF MAPS, A
PORTION OF PARCEL "C" OF PARCEL MAP WAIVER NO. 03-01, RECORDED
APRIL 7, 2003, AS INSTRUMENT NO. 2003-242503, AND A PORTION OF LOTS "A",
"AA", AND "FF", AS SHOWN ON TRACT NO. 4399, ON FILE IN BOOK 77, PAGES 31
THROUGH 36, INCLUSIVE, OF MAPS, ALL OF OFFICIAL RECORDS OF RIVERSIDE
COUNTY, ALSO BEING IN THE NORTH ONE-HALF OF SECTION 16, TOWNSHIP 5
SOUTH, RANGE 6 EAST, S.B.M.
2
P6402-0201\1006300v2.doc