Successor Agency to the Former Redevelopment Agency
MEETING DATE: 11/16/2015
TITLE:
Title
Property Transfer Agreement and Non-Exclusive Easement Agreement with Maintenance Covenants for Parcels 1, 6, 7, 8, 9, 10, and 11 and Revised Parcels 2 and 5 of Parcel Map No. 36428
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FROM:
Leisa Lukes, Economic Development Manager
RECOMMENDATION:
Recommendation
Staff recommends that the City Council and the City Council acting as the Successor Agency to the Former Redevelopment Agency of the City of Cathedral City approve the Property Transfer Agreement and Escrow Instructions and the Non-Exclusive Easement Agreement with Maintenance Covenants and direct the City Manager and Executive Director to execute the Agreements.
Body
BACKGROUND:
The former Redevelopment Agency of the City of Cathedral City (Former RDA) entered into a Disposition and Development Agreement (DDA) with M&M Property Company, LLC, (Developer) in 2011 to develop an approximate 3-acre site on the south side of East Palm Canyon for a building shell to be used as an automobile showroom and related facilities. The Developer completed this construction and the facility is currently the location of the Palm Springs Volkswagen dealership. This parcel was part of a larger site owned by the Former RDA.
The Developer also constructed an entry drive, Margot Murphy Way named in honor of his deceased wife, to provide vehicular access to the interior of the remaining land, including land owned by Conneaut Partners, LLC (Conneaut). The DDA contemplated that Margot Murphy Way would serve future development anticipated to include additional automobile dealerships to be developed on the remaining land. In consideration for Conneaut allowing a portion of its land (Parcel 1) to be included within the boundaries of Margot Murphy Way and for its dedication of land (Parcel A) to the City for purposes of widening East Palm Canyon Drive, an approximate 0.62-acre parcel (Parcel 8) w...
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