Extend Point Molate development agreement with Upstream Point Molate LLC

Point MolateContracts<UNKNOWN>

In Plain English

The city signed a development agreement with Upstream Point Molate LLC to build on the former naval shipyard site. The current agreement expires soon and needs extension through April 2010. If approved, the developer pays the city $90,000 monthly starting January 15th.

Auto-generated summary. Source: official agenda documents.

Votes

Approve the item as presented

Moved by: Councilmember ButtSeconded by: Councilmember Lopez
Passed

3 to 1

Tom ButtAye
Jim RogersAye
Jovanka BecklesAbstain
Jeff RittermanAbstain
Gayle McLaughlinNay
Tom BatesAye

Continue the LDA a minimum of six months with monthly progress reports

Moved by: Councilmember Bates
Failed