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<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />~ <br />~~!~ <br />~ <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />FEBRUARY 6, 2006 <br /> <br />TITLE: <br />TRANSFER OF DEVELOPMENT RIGHTS FOR <br />THE INTEGRAL LOW RISE CONDOMINIUMS <br />AT MACARTHUR PLACE SOUTH <br /> <br />;j <br /> <br />M;!2 <br /> <br />CITY MANAGER <br /> <br />APPROVED <br /> <br />o As Recommended <br />o As Amended <br />o Ordinance on 1" Reading <br />D Ordinance on 2nd Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Direct the City Manager to authorize the transfer of development rights <br />for the Integral Partners low-rise condominium project to Western Pacific <br />Housing, Inc., a subsidiary of D.R. Horton with such non-substantive <br />changes as may be approved by the City Manager and City Attorney. <br /> <br />DISCUSSION <br /> <br />On June 20, 2005, the City Council approved numerous entitlements <br />requested by Nexus Development Corporation for MacArthur Place South, a <br />mixed-use project within Hutton Centre. These entitlements included a <br />development agreement for the entire development as well as a conditional <br />use permit, tentative tract map and a variance for a 276 unit low-rise <br />condominium development to be constructed by Integral Partners <br />Development, LLC. Since the proj ects approval, Integral Partners has <br />elected to sell its development rights for this project to Western <br />Pacific Housing, Inc., a wholly owned subsidiary of D.R. Horton. Western <br />Pacific is the D.R. Horton subsidiary responsible for all residential <br />development in Southern California. <br /> <br />Section 4.2 of Development Agreement No. 2005-02 allows for the transfer <br />of development rights to another party with City Council approval. Prior <br />to the transfer, the Development Agreement requires a review of D. R. <br />Horton's development experience and financial capability to ensure it has <br />the financial capability and development experience that is equal to or <br />greater than Integral. Further, the transfer of rights will include an <br />assignment and assumption agreement confirming that the duties, <br />obligations and liabilities from this Agreement are assumed by D.R. <br />Horton. This ensures that the plans approved by the Planning Commission <br />and City Council, together with all conditions and requirements, are <br />fully satisfied. <br /> <br />31 B-1 <br />