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14.B.
City Council Meeting
Meeting Date:
07/17/2012
From:
Chris Darnell, Assistant City Engineer

Information

TITLE:

Consideration and Approval of Settlement Agreement:   Presidio in the Pines Homeowners Association, Inc., Tru-Built Construction, Inc., Majestic Presidio, LLC, Par Partners, LLC, Doucette Flagstaff I, LLC, and Presidio Financial, LLC.

RECOMMENDED ACTION:


Approve the settlement agreement.

Policy Decision or Reason for Action:

The City and Presidio Parties have reached a Settlement Agreement which results in the dismissal with prejudice of the lawsuit and release of all claims against the City.

Decision Points:  There are no additional decision points.

Financial Impact:

A companion Development Agreement contains a provision (shown in Exhibit D of the Development Agreement) to convert several private streets into public streets through the future completion and recording of a map of dedication.  Under the Development Agreement, the City shall own, operate and maintain these streets.  The Settlement Agreement contains a $70,000 cash settlement provision, which shall be funded through the City's Self Insurance Trust Fund.

Connection to Council Goal:

Effective governance.

Has There Been Previous Council Decision on This:

No.

Options and Alternatives

(1) Approve the Settlement Agreement; (2) modify the Settlement Agreement; or (3) Reject the Settlement Agreement.

Key Considerations:

Under the terms of the Settlement Agreement, the City will negotiate with Miramonte Arizona, LLC, the new principal owner of a number of the Presidio parcels, regarding the disposition of the remaining penal sums of the bonds. These amounts shall be placed in escrow and made available to Miramonte to complete an agreed upon scope of work for the subdivision.

A Development Agreement between the City of Flagstaff and Miramonte Arizona, LLC, is also on this evening’s agenda for Council’s consideration.

Expanded Financial Considerations:

Settlement of this lawsuit results in the dismissal with prejudice of the lawsuit against the City and the release of all claims against the City. This settlement will also allow work on the subdivision to proceed toward final completion.

Community Benefits and Considerations:

N/A.

Attachments

Form Review

Inbox Reviewed By Date
City Engineer rbarrett 06/27/2012 01:25 PM
Legal Assistant Vicki Baker 06/29/2012 08:37 AM
City Clerk Margie Brown 07/12/2012 04:04 PM
Form Started By:
cdarnell
Started On:
06/26/2012 03:43 PM
Final Approval Date:
07/12/2012