Extend Point Molate development agreement with Upstream Point Molate LLC
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
3 to 1
Why This Vote Matters
The council approved extending a development agreement for the Point Molate site through April 2010 in a 4-1 vote, with McLaughlin opposed and two members abstaining. Under the extension, Upstream Point Molate LLC will pay the city $90,000 per month starting January 15th to continue planning development of the former naval shipyard. The split vote and abstentions suggest some uncertainty about the project's direction. This is a routine contract extension that keeps the development process moving while generating monthly revenue for the city.
Auto-generated context. Source: official meeting records.
Other motions
Continue the LDA a minimum of six months with monthly progress reports
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1 prior discussion on this topic
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