JOINT CITY COUNCIL AND SUCCESSOR AGENCY BOARD AGENDA ITEM: Conditional Approval of a Settlement Agreement with Rush Pacifica LLC Relating to Termination of Disposition and Development Agreement Related to Parcel B. Item Number: JC 2 City of Culver City California Agenda Item Report Meeting Date: 02/25/2013 JOINT CITY COUNCIL AND SUCCESSOR AGENCY BOARD AGENDA ITEM: Conditional Approval of a Settlement Agreement with Rush Pacifica LLC Relating to Termination of Disposition and Development Agreement Related to Parcel B. Contact Person / Department: Joe Susca/CDD Todd Tipton/ CDD Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification (E Mail) (E Mail) Meetings and Agendas City Council (02/19/13); (E Mail); Rush Pacifica LLC (02/20/13) Department Approval: Sol Blumenfeld (02/19/13) Phone Number: (310) 253 5763 (310) 253 5783 General Fund: Yes No X Attachments: Action Item: City Special Counsel Approval: Murray Kane (02/19/13) City Attorney Approval: Carol Schwab (by H. Baker) (02/19/13) City Manager/Executive Director Approval: John M. Nachbar (02/19/13) Chief Financial Officer Approval: Jeff Muir (02/19/13) RECOMMENDATION: Staff recommends the City Council and Successor Agency (SA) to the Culver City Redevelopment Agency Board (Successor Agency Board) conditionally approve a settlement agreement for a lawsuit brought against the former Culver City Redevelopment Agency (former CCRA) by Rush Pacifica LLC (Developer) claiming breach of contract for the former CCRA s termination of their Disposition and Development Agreement (DDA) related to Parcel B in 2009. BACKGROUND: On July 10 2006 the former CCRA approved a DDA with Developer to sell them Parcel B. Simultaneously the former CCRA also approved an Infrastructure Improvement Agreement (IIA) with the Developer whereby the Developer agreed to design and then construct the realignment of Washington Boulevard in Downtown at former CCRA expense (now completed) an...
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