Carson Reclamation Authority

CITY OF CARSON Wednesday, December 16, 2020 701 East Carson Street Helen Kawagoe Council Chambers 5:00 PM Albert Robles, Authority Chairman Cedric Hicks, Authority Vice Chairman Ray Aldridge, Jr., Board Member Ramona Pimentel, Board Member Rashina Young, Board Member SPECIAL MEETING OF CARSON RECLAMATION AUTHORITY “In accordance with the Americans with Disabilities Act of 1990, if you require a disability related modification or accommodation to attend or participate in this meeting, including auxiliary aids or services, please call the City Clerk’s office at 310-952-1720 prior to the meeting.” (Government Code Section 54954.2) CALL TO ORDER: CARSON RECLAMATION AUTHORITY ROLL CALL: ORAL COMMUNICATIONS FOR MATTERS LISTED ON THE AGENDA (MEMBERS OF THE PUBLIC) DISCUSSION: (Items 1-2) CITY OF CARSON Page 1 Printed on 12/15/2020 Carson Reclamation Authority Agenda WEDNESDAY, DECEMBER 16, 2020 Item No. 1. 2020-865 CONSIDER OPTION AGREEMENT AND JOINT ESCROW INSTRUCTIONS WITH FARING CAPITAL, LLC, A DELAWARE LIMITED LIABILITY COMPANY AND FIDELITY NATIONAL TITLE INSURANCE COMPANY, A CALIFORNIA CORPORATION, ACTING AS THE ESCROW HOLDER AND TITLE COMPANY; AGREEMENT TO GRANT DEVELOPMENT IMPACT FEE CREDIT AND FOR CONSTRUCTION OF PUBLIC INFRASTRUCTURE WITH FARING CAPITAL, LLC; AGREEMENT TO GRANT DEVELOPMENT IMPACT FEE CREDIT WITH FARING CAPITAL, LLC; AND, A DEPOSIT AND REIMBURSEMENT AGREEMENT WITH FARING CAPITAL, LLC FOR CELLS 3, 4 AND 5 OF THE 157 ACRE SITE Recommendation: 1. APPROVE OPTION AGREEMENT AND JOINT ESCROW INSTRUCTIONS by and among FARING CAPITAL, LLC, a Delaware limited liability company, the CARSON RECLAMATION AUTHORITY, a California joint powers authority, and FIDELITY NATIONAL TITLE INSURANCE COMPANY, a California corporation, acting as the escrow holder and title company for the development of Cells 3, 4 and 5 of the 157 ACRE; and 2. AP P R O V E AGREEMENT TO GRANT DEVELOPMENT IMPACT FEE CREDIT AND FOR CONSTRUCTION OF PUBLIC INFRASTRUCTURE WITH FARING CAPITAL, LLC; and 3. AP P R O V E AGREEMENT TO GRANT DEVELOPMENT IMPACT FEE CREDIT WITH FARING CAPITAL, LLC 4. APPROVE DEPOSIT AND REIMBURSEMENT AGREEMENT WITH FARING CAPITAL, LLC 5. AUTHORIZE the Chairman or his/her designee to execute the Option Agreement, the Development Impact Fee documents, the Deposit and Reimbursement Agreement and all related documents in a form acceptable to the Authority Counsel, with any minor modifications approved by the Authority Counsel. 1. CITY OF CARSON Page 2 Printed on 12/15/2020 Carson Reclamation Authority Agenda WEDNESDAY, DECEMBER 16, 2020 Attachments: Signed CRA - FINAL Option Agreement (Cells 3 4 and 5) USE THIS VERSION Signed CRA - Development Impact Fee Credit Agreement (Remainder Cells) - FINAL Signed CRA - Development Impact Fee Credit Agreement (Carry Costs for Remainder Cells) FINAL Item No. 2. 2020-866 CONSIDER A SETTLEMENT AGREEMENT AND MUTUAL RELEASE BY AND BETWEEN SL CARSON BUILDERS, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("SLCB"), AND SNYDER LANGSTON, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("SL") AND RE I SOLUTIONS, LLC, A COLORADO LIMITED LIABILITY COMPANY ("RES") Recommendation: 1. APPROVE A SETTLEMENT AGREEMENT AND MUTUAL RELEASE BY AND BETWEEN SL CARSON BUILDERS, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("SLCB"), AND SNYDER LANGSTON, LLC, A DELAWARE LIMITED LIABILITY COMPANY ("SL") AND RE I SOLUTIONS, LLC, A COLORADO LIMITED LIABILITY COMPANY ("RES") 2. AUTHORIZE the Chairman or his/her designee to execute the Settlement Agreement, and all related documents in a form acceptable to the Authority Counsel, with any minor modifications approved by the Authority Counsel 1. Attachments: Settlement Agreement and Mutual Release ORAL COMMUNICATIONS (AUTHORITY MEMBERS) ADJOURNMENT CITY OF CARSON Page 3 Printed on 12/15/2020