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2021 - 31732 Project LQ, LLC - SIA On-Site & Off-Site 2nd Assignment & Amendment23 March SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART 23 March SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART SIGNED IN COUNTERPART 1 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Attn: City Clerk Space Above This Line for Recorder’s Use (Exempt from Recording Fee per Gov’t Code §6103 and §27383) LIEN CONTRACT AND DEED OF TRUST (Lien Contract as Security; Gov. Code Section 66499(a)(4)) THIS LIEN CONTRACT AND DEED OF TRUST (“Lien Contract”) is entered into this ___ day of ________________, 2021, by and between the CITY OF LA QUINTA, CALIFORNIA, a municipal corporation of the State of California (“City”) and Project LQ, LLC, a California limited liability company (“Owner”). RECITALS A. Owner is the owner if fee of that certain unimproved real property located in the State of California, County of Riverside, City of La Quinta, more particularly described in the legal description attached hereto as EXHIBIT “A” and incorporated herein by this reference (the “Property”). B. A final subdivision map of Tract No. 31732 (“Original Tract Map” and “Tract,” respectively) for the Property was approved by the City Council of the City of La Quinta (“City Council”) on or about March 21, 2006, and subsequently filed with the Official Records of the Riverside County Recorder on April 20, 2006, in Book 401 pages 22-33 of said county; C. The Original Tract Map for the Property was amended by the Design and Development Director at its Director’s Hearing by that certain Amendment No. 2 (“Amendment”) filed with the Official Records of the Riverside County Recorder on or about August 23, 2017 in Book 456 pages 97-106 of said county (the Original Tract Map and the Amendment are collectively referred to as the “Final Map”). D. In connection with the acquisition of the Property, the Owner’s predecessor-in- interest assumed those certain Subdivision Improvement Agreements (2), both dated July 5, 2007, and both as amended August 1, 2017 (the “Existing SIAs”), to complete certain tasks and construct certain on-site and off-site improvements as required by the Final Map and other entitlements applicable to the Property (collectively, the “Development Obligation(s)”). E. City is authorized to accept the security proposed by Owner, known as a lien contract, under the provisions of Government Code Section 66499(a)(4), La Quinta Municipal 11 EXHIBIT “A” Legal Description of the Real Property LOTS 1 THROUGH 12, INCLUSIVE, 14 THROUGH 196, INCLUSIVE, AND LETTER LOTS "A" THROUGH "Z", INCLUSIVE AND "AA THROUGH "QQ", INCLUSIVE OF AMENDED NO. 2 TRACT NO. 31732, IN THE CITY OF LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 456 PAGES 97 THROUGH 106, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN: 764-810-001 THROUGH 764-810-052 AND 764-810-063 THROUGH 764-810-076 AND 764-820-001 THROUGH 764-820-077 AND 764-830-001 THROUGH 764-830-078 City of La Quinta DIRECTOR’S HEARING: MARCH 23, 2021 STAFF REPORT AGENDA TITLE: ADOPT A RESOLUTION FOR AMENDED FINAL TRACT MAP 2021-0001 (TRACT MAP 31732 AMENDMENT) TO REVISE CONDITIONS OF APPROVAL REGARDING BOND REQUIREMENTS; APPLICANT: PROJECT LQ, LLC; PROJECT NAME: BELLASARA; CEQA: A MITIGATED NEGATIVE DECLARATION WAS ADOPTED FOR THIS PROJECT UNDER ENVIRONMENTAL ASSESSMENT 2003-492; LOCATION: SOUTHEAST CORNER OF AVENUE 60 AND MONROE STREET APPLICANT/OWNER: PROJECT LQ, LLC REQUEST: AMEND FINAL TRACT MAP 31732 TO CHANGE CONDITIONS OF APPROVAL REGARDING BOND REQUIREMENTS CEQA: A MITIGATED NEGATIVE DECLARATION WAS ADOPTED FOR THIS PROJECT UNDER ENVIRONMENTAL ASSESSMENT 2003-492 LOCATION: SOUTHEAST CORNER OF AVENUE 60 AND MONROE ST LEGAL: APN: 764-810-001 THROUGH 079, 764-820-001 THROUGH 077, and 764-830-001 THROUGH 078 RECOMMENDATION Adopt a resolution to approve Amended Final Tract Map 31732 (AFTM 2021-0001) and find the project consistent with Environmental Assessment 2003-492. EXECUTIVE SUMMARY •Tract Map 31732 was approved in 2006 and subsequently amended in 2007 and 2015 for development as a single-family residential development (Attachment 1). •The owner is requesting changes to the conditions of approval for the map regarding bond requirements. No changes to the actual map configuration are proposed as part of this amendment. BACKGROUND/ANALYSIS Final Tract Map 31732 was approved in 2006 as the 40.4-acre northern half of the single-family residential project, located on the southeast corner of Avenue 60 and Monroe Street (Attachment 1). This map was amended in both 2007 and 2015 (Attachment 2). The southern half of the project was approved under Tract Map 31733. PUBLIC HEARING NO. 1 5 The Applicant/Owner made a request to modify the conditions of approval regarding the bond requirements that are a part of the conditions of approval for the final map. After discussion between the Applicant and City of La Quinta City Attorney, a condition is proposed to be added which would result in executing a lien contract as a substitute for payment and performance bonds. The lien contract would serve as the substitute security for completion of on- and off-site improvements required under the project’s subdivision improvement agreement for a maximum three (3) year period. Prior to the issuance of any permit for the improvements required under the subdivision improvement agreement, the owner shall procure and post for the benefit of the City the payment/performance bonds required. If the owner fails to replace the lien contract with the payment/performance bonds at the end of the three (3) year period, the City may record the pending Final Tract Map No. 37959-R, providing for reversion to acreage of project site (Attachment 3). Final Tract Map No. 37959-R was conditionally approved by the City Council on November 17, 2020, for reversion to acreage purposes. AGENCY AND PUBLIC REVIEW Public Agency Review This request was sent to all applicable City departments and outside agencies, including the City’s Public Works Department and City Attorney. The City Engineer and City Attorney have reviewed and approved of the proposal, subject to the Conditions of Approval. Public Notice This project was advertised in The Desert Sun newspaper on March 13, 2021, and mailed to all property owners within 500 feet of the site. To date, no comments have been received. ENVIRONMENTAL REVIEW A Mitigated Negative Declaration was adopted by the City of La Quinta City Council on January 20, 2004, under Environmental Assessment 2003-492. The Design and Development Department has determined that the proposed project is consistent with this previously approved project, as no changes to the map itself are proposed. Report prepared by: Carlos Flores, Senior Planner Report reviewed by: Cheri Flores, Planning Manager Attachments: 1. Vicinity Map 2. Tract Map 31732 3. Tract Map 37959-R 6 ATTACHMENT 1 12 ATTACHMENT 2 13 14 15 16 17 18 19 20 21 22 23 24 25 ATTACHMENT 3 26 27 28