Extend Point Molate development deadline to July 2010

Point MolateContracts<UNKNOWN>

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.

Auto-generated summary. Source: official agenda documents.

Votes

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

Moved by: Councilmember ViramontesSeconded by: Councilmember Bates
Passed

4 to 2

McLaughlinNay
ButtNay
BatesAye
RogersAye
RittermanAbsent
LopezAye
ViramontesAye