HomeMy WebLinkAbout024-95 RESOLUTION NO. 24-95
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A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF DANVILLE
CONSENTING TO ASSIGNMENT OF PACIFIC UNION VENTURES, INC.'S
INTEREST IN PRELIMINARY OWNER PARTICIPATION AGREEMENT
AND REAL PROPERTY SALES AGREEMENT TO CHARLOTTE WOOD
DEVELOPERS, L.P.
WHEREAS, the Town of Danville, the Danville Community Development Agency
("Agency") and Pacific Union Ventures, Inc. ("Pacific Union"), entered into a Preliminary
Owner Participation Agreement and Real Property Sales Agreement (hereinafter "Agreement")
on February 12, 1993; and
WHEREAS, Pacific Union would like to assign its interest in the Agreement to Charlotte
Wood Developers, L.P in which the principals of Pacific Union have a 51% equity interest in
the corporate general partner; and
WHEREAS, the Agreement has been amended to allow for an assignment of Pacific Union's
interest to an entity in which the principals of Pacific Union own a 51% equity interest in the
corporate general partner; and
WHEREAS, it is in the best interest of the Agency to consent to the assignment of Pacific
Union's interest to Charlotte Wood Developers, L.P.; now, therefore, be it
RESOLVED, by the Town Council of the Town of Danville, that it hereby consents to the
assignment of Pacific Union Ventures, Inc.'s interest in the Agreement to Charlotte Wood
Developers, L.P. and the Town Manager is hereby authorized to execute any and all
documents necessary to effectuate the assignment.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
February 7, 1995, by the following vote:
AYES: Greenberg, Doyle, Ritchey,
NOES: None
ABSTAINED: None
ABSENT: None
Shimansky, Waldo
. MAYOR
APPROVED AS TO FORM:
ATTEST:
~ C~IT A~TORNE~
CITY CLERK