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
PassedSimilar Discussions
5 related items found by meaning
Transfer development obligations for Pinole Point Business Park to new company
Extend Point Molate development deadline to July 2010
Extend Point Richmond Gateway LLC development deadline by 1 year
Approve letter of intent to sell 82-acre Point Molate development property to tribal group
Hire 3 firms to set up special financing districts for Point Molate development
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