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CITY COUNCIL AGENDA ITEM NO. 6

Meeting Date: June 14, 2005

Subject/Title: Implementation of Settlement Agreement between the City of Brentwood and The Center at Slatten Ranch, LLC, and Approve: (1) execution of escrow instructions; and (2) payment of settlement amount to The Center at Slatten Ranch, LLC in lieu of the City of Antioch

Prepared by: Tom Curry, Interim City Attorney

Submitted by: Tom Curry, Interim City Attorney

RECOMMENDATION
Approve: (1) execution of escrow instructions; and (2) payment of settlement amount to The Center at Slatten Ranch, LLC in lieu of the City of Antioch.

BACKGROUND
In late 2004, McDonough Holland & Allen was asked to assist the City in resolving a dispute over payments for work on Lone Tree Way at Slatten Ranch Road. The dispute arose from a Reimbursement Agreement with the City of Antioch dated October 8, 2002. Under that agreement, the City of Brentwood agreed to contribute to the cost of constructing certain public improvements in connection with a project being constructed by The Center at Slatten Ranch (aka “Regency”).

We mediated the dispute in December, and entered into a settlement agreement with Regency that provided for the City to make payment to Regency in two installments. The City agreed to place the second payment, $350,000, in an interest bearing escrow account, to be released when Antioch accepted the improvements. The Reimbursement Agreement provides for Regency to deliver certain documents to Brentwood and Antioch (a recorded notice of completion, final invoice specifying actual cost, and lien releases) as a condition of final payment. Regency must do so before Antioch accepts the work.

As part of the settlement, Regency agreed to establish the escrow account. The proposed escrow instructions are consistent with the terms of the settlement agreement.

FISCAL IMPACT
The expenditure of these funds were approved previously, however payment authorization was for the City of Antioch and per the Settlement Agreement, the payment should be made to The Center at Slatten Ranch. Therefore, this is merely an administrative matter.

Attachment:
Escrow Instructions

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