HomeMy WebLinkAboutAgenda Statement 1978/04/11 Item 04CITY OF CHULA VISTA
COUNCIL AGENDA STATEMENT
Item No. 4
For meeting of 4/11/78
ITEM TITLE Resolution 9067 -Approving Agreement Between the City of Chula Vista, E1 Rancho
del Rey Corporation and Windsor Park Enterprises, Inc. Authorizing the Release of
$21,758.67 from the Deposit made by E1 Rancho del Rey Corp. as Reimbursement for
Certain Costs of Improvements Installed by Windsor Park Enterprises, Inc.
SUBMITTED BY
City Attorney
ITEM EXPLANATION
(4/5TH'S VOTE REQUIRED YES N0~)
On March 14, 1978, the City Council approved an agreement between the City and the Gersten
Companies accepting a deposit in the sum of $31,000 as a condition for the approval of
the subdivision map of the Resubdivision of Lot 340 of El Rancho del Rey Unit No. 5.
Said agreement was intended to guarantee payment of the sum of money to be reimbursed
to Windsor Park Enterprises, Inc. for that share of Sesame Street and Paseo Ladera
which would benefit the subdivider.
It was contemplated that a public hearing would eventually be held pursuant to the
requirements of the City's reimbursement ordinance. However, since all parties are in
agreement as to the amount of money that should be so reimbursed, it appears to be un-
necessarily costly and time consuming to go through the process of establishing a reim-
bursement district to properly allocate the costs to the various parties for the
improvements in Sesame Street and Paseo Ladera outside of Windsor Views Subdivision.
Therefore, a new agreement has been prepared which would authorize the release of the
sum of $21,758.67 to Windsor Park Enterprises, Inc. from the deposit previously made
by the Gersten Companies and the balance thereof would be returned to the Gersten
Companies since that amount would not be necessary to cover administration and interest
costs.
In addition, the City has on deposit the sum of $1,631 deposited by Windsor Park Enter-
prices, Inc., which was being held for the deferral of certain improvements on Sesame
Street, which will now be accomplished by other means and said amount is no longer
required to be held on deposit. Said monies will be refunded to Windsor Park Enter-
prises, Inc. as well pursuant to the terms of the resolution and agreement.
r\I11 T T1 TTn
tRnltSIIJ
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
COUNCIL ACTION
Approved