MEMORANDUM Item 22
OFFICE OF THE CITY ATTORNEY
TO: Mayor and City Councilmembers
FROM: Dennis Beougher, City Attorney
DATE: April 27, 2004
SUBJECT: JP Morgan Chase Bank v. City of Brentwood, et al.; Case No.
C03-02948, Contra Costa County Superior Court
The above-referenced case has been settled pursuant to the terms approved by
the City Council and the form of the Settlement Agreement has been approved
by the City Attorney. The voting tally was 5-0. The substance of the
agreement was that the City pay JP Morgan Chase Bank $285,000. The City
received in exchange an assignment of JP Morgan’s rights to the
reimbursement when the remaining property is developed, which is expected to
be at least $600,000.