Resolution Number 15-06-02-03 RESOLUTION 15-06-02-03
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO APPROVING ASSIGNMENT OF DEVELOPMENT
AGREEMENT FOR THE DEVELOPMENT AGREEMENT BY AND
BETWEEN THE CITY OF SAN JUAN CAPISTRANO AND SOUTH COAST
INVESTORS 11, LLC
WHEREAS, Daniel Friess, on behalf of South Coast Investors 11, LLC a subsidiary of
Rivendell Land Company, Inc., has requested approval of Assignment of the "Plaza
Banderas and Mixed Use Project Development Agreement" for the "Development
Agreement By and Between the City of San Juan Capistrano and Stroscher G3, LLC,
dated July 5, 2011 (the "Development Agreement"); and,
WHEREAS, if approved,the proposed"Assignment of the Development Agreement"
("proposed DA Assignment") would assign the Development Agreement to South Coast
Investors 11, LLC; and,
WHEREAS, Section 2.5 of the Development Agreement provides that Stroscher G3,
LLC may assign any of its rights under the Development Agreement, subject to written
consent of the City, which consent shall not be unreasonably withheld; and,
WHEREAS, the California Secretary of State's website identifies that South Coast
Investors II, LLC is a California limited liability company in good standing with the State and
an entity legally formed and qualified to do business in California; and,
WHEREAS, documentation has been provided to the City demonstrating that South
Coast Investors 11, LLC has the ability to comply with the Development Agreement. The
applicant has provided documentation outlining development projects successfully
executed; and,
WHEREAS, the applicant has provided a copy of the executed Assignment and
Assumption Agreement transferring the rights,title and interest to South Coast Investors II,
LLC , as well as obligating South Coast Investors 11, LLC to keep, perform and be bound by
all of the terms, covenants and conditions under the Agreement (Attachment 3); and
WHEREAS, the cost for processing the entitlement will be charged to and paid by
the applicant; and,
WHEREAS, the project has been reviewed in accordance with the California
Environmental Quality Act (CEQA) by the City's Environmental Administrator who has
determined that the project is exempt from further review pursuant to Section 15061(b)(3)
of the CEQA Guidelines because it can be seen with certainty that there is no possibility
that this assignment may have a significant effect on the environment; and,
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WHEREAS, the City Council conducted a duly-noticed public meeting on June 2,
2015 to consider the proposed "Assignment of the Development Agreement."
NOW THEREFORE, the City Council does hereby approve the"Assignment of the
Development Agreement."
PASSED, APPROVED AND ADOPTED this 2nd day of June 2015.
DEREK REEVE, MAYOR
ATT _
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M R IS, CI RK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) as.
CITY OF SAN JUAN CAPISTRANO )
I, MARIA MORRIS, appointed City Clerk of the City of San Juan Capistrano, do hereby
certify that the foregoing Resolution No. 15-06-02-03 was duly adopted by the City Council
of the City of San Juan Capistrano at a Regular meeting thereof, held the 2ntl day of June
2015, y the following vote:
AYES I COUNCIL MEMBERS: Allevato, Perry, Ferguson, Patterson and Mayor Reeve
N COUNCIL MEMBER: None
AB COUNCIL MEMBER: None
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MA I IS, Ci Clerk
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