City of Brentwood
Home PageContact Us!Back

City Administration

2010 Council Goals and Strategic Plan | City Council Members | Calendar of Events | Elections
eNotification | Sub-Committees| Pledge of Allegiance Sign Ups | Invocation Sign Up
Live Streaming Council Meeting | Streaming PC Help |
Streaming Mac Help |

Current Council Agenda and Past Meeting Information

Past Agendas

 CITY COUNCIL AGENDA ITEM NO. 13



Meeting Date: March 11, 2003

Subject/Title: Approve a Resolution authorizing the City Manager to execute a Quit Claim Deed for the removal of the Development Fee Payment Agreement for buildings address 121 Sand Creek Road – Building #9 (Parcel D), 161 Sand Creek Road – Building #5 (Parcel B) and common area Parcel A in the Sand Creek Business Center.

Submitted by: Howard Sword, Director of Economic Development

Approved by: John Stevenson, City Manager


RECOMMENDATION
Approve a Resolution authorizing the City Manager to execute a Quit Claim Deed for the removal of the Development Fee Payment Agreement for buildings address 121 Sand Creek Road – Building #9 (Parcel D), 161 Sand Creek Road – Building #5 (Parcel B) and common area Parcel A in the Sand Creek Business Center.

PREVIOUS ACTION
On August 25, 2000 the City of Brentwood and Purcell Brackets entered into an agreement for the city to credited $90,000 of the city’s PEC funds to Purcell Enterprises, Inc. 

On December 11, 2001 the City of Brentwood and Sand Creek Business Center I, L.P. entered into a Development Fee Payment Agreement for buildings located at 121 Sand Creek Road –Building #9 and at 161 Sand Creek Road – Building #5.

On August 28, 2002 an assignment agreement for capitol improvements and development fee credits were made between Sand Creek Business Center I, L.P., Purcell Enterprises, Inc., and the City of Brentwood whereupon Purcell Enterprises, Inc., assigned to Sand Creek Business Center I, L.P. all rights and entitlement to the entire amount of the capital improvement fee credit granted to Purcell Brackets under the Capital Improvement Fee Agreement.

BACKGROUND
Sand Creek Business Center I, L.P., is in the process of selling two of its buildings to Purcell Enterprises (Building 5) and California Pacific Federal Credit Union (Building 9).

FISCAL IMPACT
The amount due to the City from Sand Creek Business Center I, L.P. as a result of this transaction is $33,842.30 which will be paid at the close of escrows.

Attachments:

• Balance Sheet
• Resolution
• Quit Claim Deed

RESOLUTION NO. 

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD TO EXECUTE A QUIT CLAIM DEED TO TERMINATE THOSE CERTAIN DEVELOPMENT FEE AGREEMENTS RECORDED FEBRUARY 21, 2002, FOR CERTAIN BUILDINGS AT SAND CREEK BUSINESS CENTER

WHEREAS, on December 11, 2001, the City of Brentwood and Sand Creek Business Center I, L.P., entered into a Development Fee Payment Agreement for buildings located at 121 Sand Creek Road – Building 9, and at 161 Sand Creek Road – Building 5, and common area Parcel A; and

WHEREAS, August 28, 2002, an assignment agreement for capital improvements and development fee credits was made between Sand Creek Business Center I, L.P., Purcell Enterprises, Inc., and the City of Brentwood whereupon Purcell Enterprises, Inc., assigned to Sand Creek Business Center I., L.P., all rights and entitlements to the entire amount of the capital improvement fee credit granted to Purcell Enterprises under the Capital Improvement Fee Agreement; and

WHEREAS, Sand Creek Business Center I, L.P., is currently in escrow to sell the building at 121 Sand Creek Road – Building 9 to California Pacific Federal Credit Union, and to sell the building at 161 Sand Creek Road – Building 5 to Purcell Enterprises, Inc.; and

WHEREAS, in order for Sand Creek Business Center I, L.P., to close escrow, the Development Fee Payment Agreement for Building 9 and Building 5 must be terminated by the City of Brentwood. 

NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Brentwood authorizes the termination of the Development Fee Payment Agreement, recorded February 21, 2002, for buildings located at 121 Sand Creek Road – Building 9, and at 161 Sand Creek Road – Building 5, and common area Parcel A as referenced by Minor Subdivision 356-00.

BE IT FURTHER RESOLVED that the City Council of the City of Brentwood authorizes the City Manager to execute all documents, including a Quit Claim Deed, to terminate the City’s interest in the Development Fee Payment Agreement with Sand Creek Business Center I., L.P.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting held on the 11th day of March 2003 by the following vote:


City Administration
City of Brentwood City Council
150 City Park Way
Brentwood, CA 94513
(925) 516-5440
Fax (925) 516-5441
E-mail allcouncil@brentwoodca.gov