Title
Authorization to Re-Convey Real Property at the Southeast Corner of Central Avenue and Thomas Road (Ordinance S-46958)
Description
Request authorization for the City Manager, or his designee, to re-convey real property at the southeast corner of Central Avenue and Thomas Road to 31 E. Thomas Road, LLC, its successors and/or assigns pursuant to City Contract 131700.
Report
Summary
The City and Toll Brothers entered into a development agreement, City Contract 131700, on July 1, 2011 to facilitate the development of the Toll Brothers property and to provide for the use and development of public infrastructure on a portion of the property acquired through condemnation. The agreement requires that the City re-convey the portion of property acquired through condemnation to Toll Brothers, its successors and/or assigns, upon pulling grading and drainage permits for development of the site and notification to the City. The property was conveyed from Toll Brothers to 31 E. Thomas Road, LLC in 2017. The City received notice, dated July 27, 2020, that grading and drainage permits were pulled and the developer is requesting re-conveyance of the property pursuant to the terms of the agreement. The developer will dedicate an easement via plat for continued use of the bus bay and related improvements.
Financial Impact
There is no financial impact for the re-conveyance.
Concurrence/Previous Council Action
City Contract 131700 was authorized by Ordinance S-37940, adopted on June 1, 2011.
Location
Southeast corner of Central Avenue and Thomas Road
Council District: 4
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Planning and Development and Finance departments.