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CC Resolution 2012-048RESOLUTION NO. 2012 - 048 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, CONDITIONALLY GRANTING AN EXTENSION OF TIME FOR THE COMPLETION OF THE OFF -SITE IMPROVEMENTS AS SPECIFIED IN THE SUBDIVISION IMPROVEMENT AGREEMENT UNTIL SEPTEMBER 9, 2013 WITH INTERMEDIATE MILESTONES FOR TRACT MAP NO. 33076 -1, THE MADISON CLUB WHEREAS, the City Council approved the Subdivision Improvement Agreement (SIA) for Tract Map No. 33076 -1, The Madison Club, on September 9, 2005; and WHEREAS, Section 6. Completion of Improvements of the approved SIA requires that the developer begin construction of the improvements within ninety days and complete the construction within twelve months after the approval of the Agreement; and WHEREAS, failure by the developer to complete construction of the improvements by September 9, 2012, shall constitute cause for the City, in its sole discretion and when it deems necessary, to declare the Subdivider in default of the approved agreement; and WHEREAS, the developer has committed to completing the parkway and median landscape improvements for Madison Street and Avenue 53 within one year and commencing the parkway and median landscape improvements for Avenue 54 and Monroe Street shortly thereafter; and WHEREAS, Section 8. Time Extension of the approved SIA allows for, at the City Council's sole and absolute discretion, an extension of time for completion of the improvements with additions or revisions to the terms and conditions of the Agreement. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of La Quinta, California, as follows: SECTION 1 . The time for the completion of the off -site improvements as required by the approved SIA is extended to September 9, 2013, provided that the developer meets all of the intermediate milestones set forth in Section 2. Resolution No. 2012 -048 Time Extension Offsite - Tract Map No. 33076 -1 Adopted: August 7, 2012 Page 2 SECTION 2 . Intermediate milestones are also imposed as follows: The time extension for completing the improvements shall expire when City offices close for regular business on October 12, 2012 if the developer fails to submit to the City revised plans for the parkway and median landscaping for Avenue 53 and Madison Street prior to that date. Additionally, the time extension for completing the improvements shall expire when City offices close for regular business on February 1, 2013 if construction has not commenced by that date for the parkway and median landscaping improvements for Avenue 53 and Madison Street. SECTION 3 . The provided security amount as required in the approved SIA is satisfactory. No additional securities are required. SECTION 4 . All other terms, responsibilities and conditions as listed in the approved SIA shall remain in full force and effect. PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City Council held on this 7t day of August 2012, by the following vote: AYES: Council Members Evans, Henderson, Osborne, Mayor Adolph NOES: None ABSENT: None ABSTAIN: Council Member Franklin C 4� /V DON AD PH, M or City of La Quinta, California ATTEST: SUSAN MAYSELS, InteriM City Clerk City of La Quinta, California (CITY SEAL)-,,- aN, Resolution No. 2012 -048 Time Extension Offsite - Tract Map No. 33076 -1 Adopted: August 7, 2012 Page 3 APPROVED AS TO FORM: WILLIAM H. IHRKE, for the City Attorney City of La Quinta, California