HomeMy WebLinkAboutPCDC Resolution 2001-03 04/16/2001 Resolution No. 2001-003
of the Petaluma Community Development Commission
APPROVAL OF AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT BY AND
BETWEEN THE PETALUMA COMMUNITY DEVELOPMENT COMMISSION AND THE LOK
PETALUMA MARINA HOTEL COMPANY, LLC.
WHEREAS, the Petaluma Community Development Commission of the City of Petaluma approved an
Owner Participation Agreement with LOK Petaluma Marina Hotel Company, LLC on December 11, 2000;
and
WHEREAS, Section 303 of the Agreement provides for a schedule of performance for the completion of
the construction of project improvements; and
WHEREAS, Attachment No. 4, Item 7, of the Agreement identifies both an action and date for the
completion of the construction of project improvements; and
WHEREAS, Section 702 of the Agreement contains provisions for the Extension of Times of
Performance; and
WHEREAS, in accordance with the provisions of Section 702 of the Agreement, the LOK Petaluma
Marina Hotel Company, LLC, has requested a six month extension of time, for the completion of the
construction of project improvements.
NOW, THEREFORE BE IT RESOLVED, that the Petaluma Community Development Commission
does hereby approve the request for extension by the LOK Petaluma Marina Hotel Company, LLC, as
provided in the revised Attachment No. 4, attached hereto as Exhibit A.
Introduced and adopted this 16t" day of April, by the following vote:
Commissioner Aye No Absent
Thompson X
Cader-Thompson X
Healy X
Maguire X
Moynihan X
O'Brien X : )
Torliatt X
E. Clark hompson, Chairman
ATTEST:
Beverly J. K;lfnef Rec ~rding Secretary