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Councilmember Bustamante concerned with possibility of Developer's <br />quick transfer/sale of pojects and requested assurance from developer. <br />Councilmember Sarmiento suggested that original motion be amended to <br />include condition of approval include a prohibition on assignment/transfer <br />of property for at least 2 years. <br />Developer noted that language in the development agreement already <br />includes alienation and conditional approval on lien; do not want to delay <br />entitlements. <br />Mayor Pulido requested a recess to consult with the City Attorney. <br />COUNCIL RECESSED AT 7:25 p.m. and RECONVENED with same members present <br />at 8:03 p.m <br />Mayor Pulido considered Agenda Items 55A and 75A before resuming consideration of <br />Agenda Item 11A. <br />Mayor requested that makers of previous motions be removed from the <br />table; makers agreed. <br />Mayor Pro Tern Alvarez requested an amendment to the motion related to <br />trust and expectation of the project; requested the following amendment to <br />the motion that is good faith effort by both the City and the Developer: <br />Direct the City Attorney and staff to draft language prohibiting sale <br />or transfer of the property within two years of the effective date of <br />the approvals (effective today) and include in that language, issues <br />such as financing and creation of related entities for purposes of <br />prohibiting transfers. Spoke with the applicant pertaining to the <br />language of creating related entities and understand that it would be <br />inclusive of all entities under their control. <br />Mayor Pulido seconded the motion. Mayor Pulido invited Developer to <br />comment on proposed amended motion, personal values, reputation, and <br />commitment to come back to the City Council with the entitlement for a <br />high-rise building within 180 days. <br />Developer agreed and noted that he was working with Ryan Ogulnick and <br />his wife Rachel on designing a high-rise building, completing the <br />application and submitting for staff review within the next 180 days. <br />Councilmember Sarmiento asked the City Attorney if condition to the <br />development agreement becomes legally binding. <br />City Attorney Carvalho stated that it was (binding); amended language in <br />the development agreement will include prohibition against a transfer by <br />developer. Developer has represented that they agree and if not then <br />CITY COUNCIL MINUTES 7 APRIL 16, 2012 <br />1 0A-7