HomeMy WebLinkAboutReso 91-192 - Approve & Authorize the mayor to sign the agreement for reimbursement between COR, Signature Northwest Partnership, Country Heights LP, & Donald & Theresa Hatfield for Off-site St Improements to portions of Buenaventura & Canyon Creek Rd I
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RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING AND AUTHORIZING THE MAYOR TO SIGN THE AGREEMENT
FOR REIMBURSEMENT BETWEEN THE CITY OF REDDING, SIGNATURE
NORTHWEST PARTNERSHIP, COUNTRY HEIGHTS LIMITED PARTNERSHIP,
AND DONALD AND THERESA HATFIELD FOR OFF-SITE STREET
IMPROVEMENTS TO PORTIONS OF BUENAVENTURA AND CANYON CREEK
ROAD.
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IT IS HEREBY RESOLVED by the City Council of the City of Redding
as follows:
1 . That the City Council of the City of Redding hereby
approves the above-mentioned Agreement, a true copy of which is
attached hereto and incorporated herein by reference.
2 . That the Mayor of the City of Redding is hereby authorized
and directed to sign said Agreement on behalf of the City of Redding;
and the City Clerk is hereby authorized and directed to attest the
signature of the Mayor and to impress the official seal of the City
of Redding thereto.
I HEREBY CERTIFY that the foregoing Resolution was introduced
and read at a regular meeting of the City Council of the City of
Redding on the 7th day of May, 1991, and was duly adopted at said
meeting by the following vote:
AYES: COUNCIL MEMBERS: Arness, Dahl, Fulton, Moss & Buffum
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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-�z_: G�
NANCYI FFUM, ayor
City of Redding
ATTEST: FORM APVED:
ETHEL A. NICHOLS, City Clerk RANDALL A. HAYS, City Attorney \
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A G R E E M E N T
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THIS AGREEMENT is made and entered by and between the CITY
OF REDDING, a Municipal Corporation and General Law City,
hereinafter referred to as "CITY," and the following
persons/entities, hereinafter collectively referred to
1 "DEVELOPERS" :
SIGNATURE NORTHWEST PARTNERSHIP, a California Partnership
(consisting of SIGNATURE DEVELOPMENT CORPORATION and
NORTHWEST OMNI , INC. , California Corporations) ;
COUNTRY HEIGHTS LIMITED PARTNERSHIP, a California
Partnership (consisting of SIGNATURE DEVELOPMENT CORPORATION
and NORTHWEST OMNI, INC. , California Corporations) ; and
DONALD HATFIELD and THERESA HATFIELD, husband and wife;
as to their respective interests in and to the properties
set forth in Exhibit "A" attached hereto,
all c/o 150 East Cypress Street, Suite D, Redding,
California 96002.
W I T N E S S E T H:
WHEREAS, DEVELOPERS have completed the design and
construction of off-site street improvements to portions of
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Buenaventura and Canyon Creek Road, all to CITY' s approval,
incurring costs totalling $564, 576. 00 ; and
WHEREAS, CITY has agreed that all of DEVELOPERS' properties
that have been or are obligated to pay fees to the CITY for the
off-site street improvements to portions of Buenaventura and
Canyon Creek Road should be credited to DEVELOPERS, up to a
maximum of $564,576 . 00; however, the per-lot fees for these
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subdivisions total $533 , 576 . 00 , leaving a shortage of $31,000 .00 ;
and
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WHEREAS, CITY has agreed to reimburse DEVELOPERS from fees
collected or to be collected by CITY from Wheeler Estates, Units
1, 2 and 3 ; Ridgeview, Units 5 and 6; and Westside Estates, Units
1 and 2 ( see attached sketch) , up to a total of $31,000 .00; and
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WHEREAS, DEVELOPERS have agreed to accept the above credits,
which necessitates a cash refund by CITY to DEVELOPERS of
$179 ,784. 00 for the funds already collected to date from
DEVELOPERS by CITY, as full payment for their costs totalling
$564, 576.00 ;
NOW, THEREFORE, IT IS AGREED by and between the parties
hereto that DEVELOPERS be reimbursed for their design and
construction costs of $564, 576 .00 as follows:
1 . CITY hereby agrees to credit DEVELOPERS for all of the
fees that they have or are obligated to pay to CITY, on their
properties set forth in Exhibit "A" attached hereto and
3 incorporated herein by reference, for the off-site street
improvements to portions of Buenaventura and Canyon Creek Road,
up to a maximum of $533,576. 00.
2 . CITY hereby agrees to reimburse DEVELOPERS from fees
collected or to be collected by CITY from Wheeler Estates, Units
1 , 2 and 3 ; Ridgeview, Units 5 and 6 ; and Westside Estates, Units
1 and 2, up to a total of $31,000.00 .
3 . The term of this Agreement shall be for a period of ten
( 10) years, commencing on the date this Agreement is approved by
City Council. Any off-site street improvement charges collected
by the CITY from the owners of the real properties described in
paragraph 1 and 2 above, after the expiration of the term of this
Agreement, shall not be reimbursable as a credit to DEVELOPERS.
4 . This Agreement shall be binding upon and inure to the
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benefit of the heirs, executors, administrators, personal
representatives, successors, and assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this
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Agreement on the days and year set forth below.
CITY OF REDDING
Date: By:
NANCY BUFFUM, Mayor
SIGNATURE NORTHWEST PARTNERSHIP
1 BY.
(1) SIGNATURE DEVELOPMENT CORPORATION,
a ifornia C rporation
Date:
PAUL EDGR resident
Co-General artnership
( 2) NORTHWEST O I, INC. ,
' a aliforni Corporation
Date:
FRED BERGSTROM, Plesident
Co-General Partnership
COUNTRY HEIGHTS LIMITED PARTNERSHIP
BY:
(1) SI TURE DEVELOPMENT CORPORATION,
a a ifornia orporation
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Date: 6-)-
PAUL EDGR , President
Co-Gener Partnership
{ ( 2) NORTHWEST OMNI , INC. ,
a C lifornia orporation
Date:
FRED BERGSTROM, President
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Co-General Partnership
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SIGNATURES, CONTINUED:
AGREEMENT BETWEEN THE CITY OF REDDING, SIGNATURE NORTHWEST
PARTNERSHIP, COUNTRY HEIGHTS LIMITED PARTNERSHIP, AND DONALD AND
THERESA HATFIELD
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Date: S
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DONALD nATFnLD
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Date: S Z
HERESA H TF ELD
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ATTEST:
ETHEL A. NICHOLS, City Clerk
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FORM APPROVED:
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RANDALL A. HAYS, City Attorney
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BENEFIT DISTRICT FEES SUMMARY
$39 , 000
Country Heights Unit 1 39 lots @ $1 , 000 $55 , 590
Country Heights Unit 2 30 lots @ $1 ,853 $25, 000
Crystal Tree Park 25 lots @ $1 , 000- $23 , 884
Country Heights Unit 3 28 lots @ $853' $2 ,000
Parcel A 2 lots @ $1 , 000 $15 , 354
Country Heights Unit 4 18 lots @ $85' $47 , 768
Country Heights Unit 5 56 lots @ $853 $1 ,706
Country Heights Unit 5A 2 lots @ $853
Country Heights Unit 6 32 lots @ $920 + $575' ( $1495 ) $47 , 840
j Country Heights Unit 7 21 lots @ $920 + $575' ( $1495) $31 , 395
810
Country Heights Unit 8 38 lots @ $920 + $575' ( $1495) $22, 446
Country Heights Unit 9 43 lots @ $522 $17 , 748
Country Heights Unit 10 34 lots @ $522
Country Heights Unit 11 52 lots @ $920 + $575 ( $1495 ) $61 , 295
Country Heights Unit 12 41 lots @ $920 + $575 ( $1495 ) $$8,2000
Sunshine Ridge 80 lots @ $100
$533 , 576
TOTAL:
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EXHIBIT "A"
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