Title
a. Approve and authorize the Chair to sign Amendment No 2 to the Subdivision Improvement Agreement for the York Highlands Re-subdivision for an extension of 24 months; and
b. Authorize the Director of Resource Management Agency to act as the agent for the County in processing all documentation to extend Subdivision Improvement Agreements for subdivisions for a period not to exceed 24 months.(Revised via Additions & Corrections)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the Chair to sign Amendment No 2 to the Subdivision Improvement Agreement for the York Highlands Re-subdivision for an extension of 24 months; and
b. Authorize the Director of Resource Management Agency to act as the agent for the County in processing all documentation to extend Subdivision Improvement Agreements for subdivisions for a period not to exceed 24 months. (Revised via Additions & Corrections)
SUMMARY/DISCUSSION:
On May 13, 2014, the Board of Supervisors approved Amendment No. 1 to the County of Monterey Subdivision Improvement Agreement (Attachment G) for York Highland Re-subdivision between the County of Monterey and Monterey County Bank and United Security Bank to extend the time for completion of the subdivision improvements to May 22, 2016. (See attached Board Order 14-046 (Attachment D) approving an amendment to Section 4(d) of the Agreement to extend the time for completion of the subdivision improvements to May 22, 2016)
At this time, a further two-year extension is needed because further regulatory and agency delays have delayed the transfer of the York Highlands Re-subdivision property. The regulatory delays have involved the FDIC's ongoing regulatory oversight relating the York Highlands property.
A portion of the York Highlands property is currently in escrow, and is expected to close in a few weeks. Due to these delays an additional extension of time of (2) years is requested. Ba...
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