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pL£AS&NTONo CityCouncil <br /> Staff Report <br /> <br /> July 19, 2005 <br /> Planning and Law Departments <br /> <br />SUBJECT ESTOPPEL CERTIFICATE - BERNAL PLAZA (VALLEY AND <br /> BERNAL AVENUES) <br /> <br />STAFF RECOMMENDATION: <br /> <br /> Approve the attached Estoppel Certificate and authorize the City Manager to <br /> sign the Certificate. <br /> <br />SUMMARY In 1986, the City entered into a Development Agreement for the business <br /> park now known as the Bemal Corporate Park, located at the northwest <br /> comer of Valley and Bemal Avenues. The retail portion of the property, <br /> Bernal Plaza, was sold to the current owner, WB Bemal, LLC, in 2000. At <br /> that time, the City Council approved the requested estoppel certificate, <br /> indicating that the property owner was not in default under the Development <br /> Agreement and related land use approvals applicable to the property. In <br /> connection with a proposed sale of the property, the owner has requested an <br /> updated estoppel certificate. The property owner is not in default under the <br /> Development Agreement or other land use approvals. <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br /> BACKGROUND <br /> <br /> State Legislation permits cities and private developers to enter into long-term development <br /> agreements. Such agreements often provide that a property owner may request from the city an <br /> estoppel certificate, which is essentially a presentation from the city that at the time the certificate <br /> is approved, the various land Use agreements, such as the development agreement itself, is in full <br /> force and that the developer is not in default. <br /> <br /> SR:05:210 <br /> Page 1 <br /> <br /> <br />