HomeMy WebLinkAboutReso 132-02 ArchstoneTDA PM7537 RESOLUTION NO. 132 - 02
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING AN AMENDMENT TO THE
TRACT DEVELOPER AGREEMENT FOR PARCEL MAP 7537
(ARCHSTONE COMMUNITIES TRUST)
WHEREAS, the City of Dublin (hereinafter referred to as "CITY") and Archstone Communities
Trust, a Maryland Real Estate Investment Trust (hereinafter referred to as "DEVELOPER"), entered into a
Tract Developer Agreement (hereinafter referred to as "AGREEMENT") on August 7, 2001; and
WHEREAS, Section 1 of said AGREEMENT states that DEVELOPER shall complete all
improvements governed by the AGREEMENT not later than 365 days following the date of execution;
and
WHEREAS, it is in the best interest of the CITY to extend the completion date of the
AGREEMENT by six months, or until February 7, 2003; and
WHEREAS, this Amendment hereby incorporates by reference all terms and conditions set forth
in the AGREEMENT, and all terms and conditions which are not specifically modified by this
Amendment shall remain in full force and effect;
NOW, THEREFORE, BE IT RESOLVED that the Amendment (Exhibit "A" of this
Resolution) to the Tract Development Agreement for Parcel Map 7537 is hereby approved, and the City
Council hereby authorizes the Mayor to execute Exhibit "A'.
PASSED, APPROVED AND ADOPTED this 6th day of August, 2002.
AYES: Councilmembers McCormick, Oravetz, Sbranti and Zika and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None )~ ~. _~.~4~Mayor
K2/G/8-6~2/mso-75~doc (Item 4.5)
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EXHIBIT "A" OF CITY COUNCIL RESOLUTION ]~ -02
AMENDMENT TO TRACT DEVELOPER AGREEMENT
FOR PARCEL MAP 7537 (IRON HORSE TRAIL APARTMENTS)
BETWEEN CITY OF DUBLIN AND ARCHSTONE COMMUNITIES TRUST
WHEREAS, the City of Dublin (hereinafter referred to as "CITY") and Archstone
Communities Trust, a Maryland Real Estate Investment Trust (hereinafter referred tO as "DEVELOPER"),
entered into a Tract Developer Agreement (hereinafter referred to as "AGREEMENT") on August 7,
2001; and
WHEREAS, Section 1 of said AGREEMENT states that DEVELOPER shall complete all
improvements governed by the AGREEMENT not later than 365 days following the date of execution;
and
WHEREAS, ~the DEVELOPER has agreed to amend the AGREEMENT to extend the
completion date by six months, or until February 7th, 2003; and
WHEREAS, it is in the best interest of the CITY to extend the completion date of the
AGREEMENT ;'and
WHEREAS, this Amendment hereby incorporates by reference all terms and conditions
set forth in the AGREEMENT, and all terms and conditions which are not specifically modified by this
Amendment shall remain in full force and effect; and
NOW, .THEREFORE, the parties hereto agree as follows:
Completion time for improvement work governed by the AGREEMENT is hereby
extended six months or until February 7th, 2003.
CIT_Y OF DuBLIN:
ATTE~S~~~r~"/~ ~ Archstone-Smith Operating Trust
A Maryland Rea ,l~Estate Investment Trust
G:\devetop\archstone\exhibit A tract der agrnt