Redeem $1.75 million cash settlement from Pinole Point Properties developer
In Plain English
The city holds letters of credit from Pinole Point Properties as financial guarantees for a development project. The developer now wants to convert these guarantees into a $1.75 million cash payment to the city. If approved, the city receives the money upfront instead of holding the credit promises.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 90-07
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