RECOMMENDATION(S):
APPROVE and AUTHORIZE the Conservation and Development Director to execute any and all documents required to effectuate a settlement in the amount of $28,500 for administrative fees owed to the County by Contra Costa RE Investors (RE Investors) from May 2007 through May 2015 under a regulatory agreement and declaration of restrictive covenants.
FISCAL IMPACT:
No impact to the General Fund. Annual administrator fees are collected to cover the costs associated with compliance monitoring of regulatory agreements.
BACKGROUND:
Due to an administrative error, the fees required to be paid by RE Investors for the period May 2007 through May 2015, under a regulatory agreement and declaration of restrictive covenants between the County and RE Investors for the development known as Casablanca Condominiums, were not invoiced until recently. The amount due is $62,000. RE Investors has offered to pay $28,500, which is the amount due for the last four years, as a settlement of the entire amount due. Staff recommends accepting the payment because Code of Civil Procedure Section 337 limits the collection of past due amounts to four years.
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