Extend Point Molate development agreement through May 2010
In Plain English
The city has a development agreement with Upstream Point Molate LLC that includes monthly payments of $90,000. This extension continues the agreement for a third period until May 20, 2010. Point Molate is a waterfront area where the city is working with a developer on future projects.
Auto-generated summary. Source: official agenda documents.
Votes
Extend the Point Molate LDA with Upstream
3 to 1
Why This Vote Matters
The council voted 4-1 to extend a development agreement with Upstream Point Molate LLC for the Point Molate waterfront area until May 20, 2010, with two members abstaining. Under this agreement, the developer pays the city $90,000 monthly while they work together on future development projects for the site. Councilmember McLaughlin cast the lone opposing vote, while Councilmembers Ritterman and Viramontes abstained from voting. This marks the third extension of the original development agreement.
Auto-generated context. Source: official meeting records.
Similar Discussions
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Extend Point Molate development agreement with Upstream Point Molate LLC
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The Story So Far
1 prior discussion on this topic
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