2012-045 - Villa Vasona Ltd., Dated September 28,1983; And Rescind The First Amendment To Agreement For Disposition Of Real PropertyRESOLUTION 2012 -045
RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF LOS GATOS
AUTHORIZING THE TOWN MANAGER TO RESCIND THE AGREEMENT FOR
DISPOSITION OF REAL PROPERTY BETWEEN THE TOWN OF LOS GATOS AND
VILLA VASONA LTD., DATED SEPTEMBER 28,1983; AND RESCIND THE FIRST
AMENDMENT TO AGREEMENT FOR DISPOSITION OF REAL PROPERTY
BETWEEN THE TOWN OF LOS GATOS AND VILLA VASONA LTD., DATED
SEPTEMBER 5,1989; AND NEGOTIATE AND EXECUTE A NEW AGREEMENT
BETWEEN THE TOWN OF LOS GATOS AND HIGHLAND PROPERTY
DEVELOPMENT LLC, FOR THE DISPOSITION OF REAL PROPERTY AT
612 (626) W. PARR AVENUE, LOS GATOS, CA.
WHEREAS, that in 1983 the Town of Los Gatos entered into an Agreement for
Disposition of Property with Villa Vasona Ltd. for the property at 612 aka 626 W. Parr Avenue;
and
WHEREAS, that in 1986 the Town Council adopted Ordinance 1698 to allow the
construction of 107 Section 8 senior apartments, including ten units for the physically
handicapped; and
WHEREAS, that in 1989 the Town of Los Gatos entered into a First Amendment to the
1983 Agreement for Disposition of Property because the property was transferred from Villa
Vasona Ltd. to PMG; and
WHEREAS, PMG intends to sell the property to Highland Property Development LLC;
and
WHEREAS, Highland Property Development LLC wants to rescind the 1983 Agreement
for Disposition of Property and the First Amendment to the 1989 Agreement for Disposition of
Property and negotiate a new Agreement pursuant to the terms, as illustrated in Attachment 1 of
the Town Council Report for the meeting of June 18, 2012; and
WHEREAS, Seifel Consulting, Inc. conducted a thorough analysis of the terms of a new
agreement, as illustrated in Attachment 1 of the Town Council Report for the meeting of June 18,
2012, and determined that the terms are appropriate given the Town's desire to preserve their long
term interest in the property; and
NOW, THEREFORE, BE IT RESOLVED THAT the terms, as illustrated in
Attachment 1 of the Town Council Report for the meeting of June 18, 2012, are appropriate given
the Town's desire to preserve their long term interest in the property.
BE IT FURTHER RESOLVED, by the Town Council that the Town Manager is
authorized and directed to negotiate and execute a new agreement, subject to Town review and
approval, with Highland Property Development LLC on behalf of the Town of Los Gatos and
rescind the 1983 and 1989 agreements.
BE IT FURTHER RESOLVED, by the Town Council that following conclusion of
drafting the revised agreement with Highland staff will bring back a modification of the existing
Planned Development (Ordinance 1698) to replace the existing covenants with covenants
reflecting the terms of the new agreement for Council consideration and action.
NOW, THEREFORE, BE IT FURTHER RESOLVED, AND IT IS HEREBY
RESOLVED, by the Town Council that the future modification of the existing Planned
Development (Ordinance 1698) to replace the existing covenants with covenants reflecting the
terms of the new agreement is consistent with the General Plan given the existing Official
Development Plan will not be modified.
1A
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los
Gatos, California, held on the 18th day of June, 2012, by the following vote:
COUNCIL MEMBERS:
AYES: Steven Leonardis, Diane McNutt, Joe Pirzynski, Barbara Spector, and Mayor Steve Rice
NAYS:
ABSENT:
ABSTAIN:
SIGNED:
MAYOR F THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
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CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA