MEETING DATE: 11/20/2018
DEPARTMENT: COUNTY ADMINISTRATION OFFICE
DEPT HEAD/DIRECTOR: Ray Espinosa
AGENDA ITEM PREPARER: Dulce Alonso
SBC DEPT FILE NUMBER: 119
SUBJECT:
COUNTY ADMINISTRATION OFFICE - R. ESPINOSA
Approve Agreement with San Juan Oaks, LLC.
SBC FILE NUMBER: 119
AGENDA SECTION:
CONSENT AGENDA
BACKGROUND/SUMMARY:
Development agreements are entered into by the County and a developer to define a development project’s rules, regulations, commitments, and policies for a specific period of time; to strengthen the public planning process by encouraging private participation in the achievement of comprehensive planning goals and reducing the economic costs of development. A development agreement reduces the risks associated with development, and allows the County the ability to obtain public benefits beyond those achievable through existing ordinances and regulations. The County of San Benito and San Juan Oaks, LLC entered into a Development Agreement effective November 3, 2015. The development agreement included several areas of public benefit for the County.
San Juan Oaks has requested the attached agreement. In the agreement, Owners will agree to pay the County an additional $500,000 in exchange for an extended fee vesting time period, if it decides to exercise that option for an extension.
In addition, San Juan Oaks has agreed to pay the entire amount of the Community Benefit Fee, in the amount of $6,059,000 if the option is exercised, upon obtaining the first residential building permit or by March 31, 2021 whichever occurs first.
Additionally, the Owner's offer of dedication of the Public Safety Facility Site shall remain open and not terminate fifteen years following the offer.
BUDGETED:
No