Extend Point Molate development deadline to July 2010
In Plain English
The city signed a deal to sell Point Molate land to Upstream Point Molate LLC for development. The developer needs more time to complete the purchase and is paying the city $90,000 per month until closing. If approved, the new deadline becomes July 20, 2010.
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Votes
Motion · Official minutes
Amend LDA to provide extension until April 2011 (30 days after March 2011 court date), include all amendments requested by Point Molate Committee, authorize staff to include area for discussion and community outreach for alternative projects, continue $90,000 monthly payments and all other obligations
4 aye · 2 nay · 1 absent
Why This Vote Matters
The council voted 4-2 to extend a land sale deadline for Point Molate development until April 2011, with Butt and McLaughlin voting no. The developer, Upstream Point Molate LLC, will continue paying the city $90,000 per month while they work toward completing the purchase. The extension also requires staff to include community outreach for alternative project ideas and incorporate changes requested by the Point Molate Committee. This vote was notably divided compared to most contract decisions, where these council members typically vote together.
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Related agenda records
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Third amendment to Land Disposition Agreement for Point Molate
Point Molate LDA Extension
Point Molate LDA Extension with Upstream Point Molate LLC
Third Amendment to the Land Disposition Agreement (LDA) with Upstream Point Molate, LLC
Point Molate Remediation Agreement