REPORT TO COUNCIL
SUBJECT
Title
Action on a Release of Interest in three Agreements and Covenants Running with the Land at 5104 Old Ironsides Drive [Council Pillar: Promote and Enhance Economic and Housing Development]
Report
BACKGROUND
On November 29, 1994, as a condition for the issuance of a building permit at 5104 Old Ironsides Drive (Property), the City Council approved two Agreements deferring the construction of public sidewalk along Tasman Drive and Patrick Henry Drive (Attachment 1, Location Map). On May 16, 1995, as a condition for the issuance of a building permit on the Property, the City Council approved an Agreement deferring the payment of public sidewalk improvements along Bunker Hill Lane and Old Ironsides Drive. On December 7, 2004, the City Council approved an Amended Agreement, which amended and superseded the May 16, 1995 Agreement. The Amended Agreement changed the location of one of the proposed sidewalk improvements along Old Ironsides Drive from the other side of the street to the Property frontage. The public sidewalk improvements relating to these agreements have been constructed, thereby satisfying the obligations of said agreements.
DISCUSSION
Due to the satisfaction of the City's requirement for construction of public sidewalk improvements, the property owner has requested that the City relinquish and release all interest conveyed by said agreements deferring the construction of public sidewalks dated November 29, 1994 and the Amended Agreement dated December 7, 2004, in order to remove these unnecessary encumbrances on the Property.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a "project" within the meaning of the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines section 15378(a) as it has no potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment.
FISCAL IMPACT
There is no additional c...
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