Legislation Details

File #: 13-5171    Version: 1 Name:
Type: Contract Status: Passed
File created: 11/26/2013 In control: City Council Regular Meeting
On agenda: 1/13/2014 Final action: 1/13/2014
Title: FIRST AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT FOR LA JOLLA VISTA RECOMMENDATION: ADOPT RESOLUTION 13-1589 APPROVING, AUTHORIZING AND DIRECTING THE EXECUTION OF THE FIRST AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT FOR LA JOLLA VISTA; PROVIDING AUTHORIZATION AND DIRECTION TO TAKE ACTIONS AND EXECUTE DOCUMENTS NECESSARY TO CARRY OUT INTENT OF RESOLUTION AND FIRST AMENDMENT; AND PROVIDING FOR AN EFFECTIVE DATE.
Attachments: 1. Staff Report, 2. Resolution, 3. Agreement
TITLE
FIRST AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT FOR LA JOLLA VISTA
RECOMMENDATION:
ADOPT RESOLUTION 13-1589 APPROVING, AUTHORIZING AND DIRECTING THE EXECUTION OF THE FIRST AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT FOR LA JOLLA VISTA; PROVIDING AUTHORIZATION AND DIRECTION TO TAKE ACTIONS AND EXECUTE DOCUMENTS NECESSARY TO CARRY OUT INTENT OF RESOLUTION AND FIRST AMENDMENT; AND PROVIDING FOR AN EFFECTIVE DATE.    
 
PURPOSE:
The purpose of this item is to review and approve a First Amendment to the Amended & Restated Development Agreement for La Jolla Vista, which amends the terms of the Amended & Restated Development Agreement for La Jolla Vista related to the timing of cost recovery payments for the construction of regional water and sewer improvements. (Sarah Chilton, Assistant City Attorney)