SUBJECT: Approval of the Release of Agreements Affecting the Property Approved for the Future Construction of the Devonwood Village Apartments as Requested by the Property Owner, Devonwood 64, LP., Generally Located on the South Side of Devonwood Drive, Between Loughborough Drive and Austin Avenue REPORT IN BRIEF The property owner, Devonwood 64, LP is seeking the release of five agreements to allow the site to be sold to a developer of the approved apartment complex. The five agreements include four Developer Agreements and one Subdivision Agreement. The City Council’s action would also include authorizing the City Manager or Deputy City Manager to execute the necessary documents to release the agreements. RECOMMENDATION City Council - Adopt a motion: A. Approving the release of three agreements between the City of Merced and the Bianchi Land Company dated September 25, 1992, August 8, 1994, and July 21, 1999, and the release of a Developer Agreement between the City of Merced and PPC Highland Park, LLC dated November 6, 2006, and a Subdivision Agreement between the City of Merced and PPC Highland Park, LLC dated February 20, 2007; and, B. Authorizing the City Manager or Deputy City Manager to execute the necessary documents.

Consent Item Passed Introduced December 29, 2022

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: December 29, 2022
On agenda: April 17, 2023
Passed: April 17, 2023