AMENDMENT TO PUBLIC IMPROVEMENT AND REIMBURSEMENT AGREEMENT BETWEEN CITY AND SEAVIEW DEVELOPMENT

Recommendation:

That the City Council approve the amendment to the agreement and direct the City Manager to execute on behalf of the City.

Background:

The City and Seaview Development (Beach House Hotel) entered into an agreement in 1997 for the purpose of establishing a schedule for the developers obligation to construct certain public improvements and the City's obligation to reimburse the developer for a portion of the cost for these improvements. The agreement provides tht the City will reimburse (up to $275,000) once all of the public improvements are completed. The developer has completed some of the projects but the remaining public improvements cannot be started or completed until the parking structure and the second phase of the hotel is completed. The developer has requested that the City amend the agreement to allow for reimbursement of costs for the completed public improvements. The following is a listing of the public improvements and the status:

1	Storm Drain Improvements (14th St. drain)	Completed and accepted
2	13th Street Terminus (special paving, bollards, planters, tree well & landscaping)	Completed and accepted
3	14th Street Terminus (special paving, bollards, planters & landscaping)	Completed and accepted
4	Beach Drive Auto Court between 13th and 14th (service undergrounding, vehicular concrete terrazzo paving and asphalt paving)	Completed and accepted
5	14th Street paving overlay Beach Drive to Hermosa Avenue	This will be done with Phase II of the hotel
6	14th Court paving improvement from Easterly hotel property line to valley gutter	This will be done when parking structure is nearing completion

The City would retain $136,000 of the total $275,000 reimbursement even though the developer has costs that exceed that amount. This will ensure that projects 5 & 6 are completed and accepted by the City in accordance with the approved plans.

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