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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: 6?rA4#V Catherine Walker Senior Management Analyst mh Approval: \ail 4vsi McCarthy ACM edevelopmen <1 i Carlos L. Orteg xecutive Director Department Head: L-bave Yr.go Director Redevelopment/Housing �)45�4 Paul S. Gibson, Director of Finance V 2d BY RDA ON -2-0 VERIFIED BY A 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