HomeMy WebLinkAboutAgenda Statement 1978/03/14 Item 22~~ CITY OF CHULA VISTA
COUNCIL AGENDA STATEMENT
Item No. 2z
For meeting of 3/14/78
ITEM TITLE Resolution ~d3r' - Approving Agreement with The Gersten Companies
Accepting the Deposit of $31,000 as a Guarantee for the Reim-
bursement for certain Costs of Improvements Installed by Windsor
Park Enterprises, Inc.
SUBMITTED BY
City Attorney
ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES NO X )
One of the conditions for the approval of the final map of the Resubdi-
vision of Lot 340, El Rancho del Rey, Unit No. 5 is the establishment of
a reimbursement agreement for the payment to Windsor Park Enterprises,
Inc. for the proportionate share of improvements installed by Windsor
Park Enterprises, Inc., which will benefit the proposed subdivision.
Since the required procedures of Chapter 15.50 of the Chula Vista
Municipal Code have not been fulfilled, it is necessary that the sub-
divider, the Gersten Companies, deposit a guarantee to cover the
ultimate reimbursement requirement that may be imposed by the City
Council after a public hearing has been conducted in order to allow
the recordation of the subdivision map at this time. An Agreement has
been prepared and deposit has been made in the amount of $31,000, which
includes interest and attorney's fees. Said amount will be held in
trust until a final reimbursement agreement has been established by
the City Council.
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Agreement x Resolution X Ordinance Plat Notification List
Other ENVIRONMENTAL DOCUMENT: Attached Submitted on
FINANCIAL IMPACT N /A
STAFF RECOMMENDATION Approval of Resolution
BOARD/COMMISSION RECOMMENDATION
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COUNCIL ACTION