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94 9
.
861
.
4700
February 27
, 202
4 Sent Via Email
Mr. Michael Allen
Senior Planner, Planning Division
City of Napa
Re:
Trinitas Mixed Use Project
Extension Request
Dear Mr.
Allen
,
Please accept this correspondence as both an update
to and a request for an additional two
-
year extension
for the
Trinitas Mixed Use Project (the “Project”)
, which t
he City of Napa
initially approved
via
Resolution R2018
-
101
,
with
said approvals extended for two years by City
Staff
, and further
extended
via
Planning Commission recommendation and City Council
Resolution R2021
-
121.
Since the Project entitlements were last extended
,
a portion of the legacy Meritage investors
moved to sell
the partnership’s holdings in Napa. The Busch Family and Pacific Hospitality Group were ultimately
able to recapitalize the partnership
and infuse
$25 million of
fresh capital into the resort property
,
while
reinforcing our presence in Napa for generations to come.
More importantly,
despite the prior uncertainty of the Project’s viability between Covid and skyrocketing construction costs,
we were able to come
together
and celebrate the opening of 2
1 homes at the Caritas
Village.
We
never
wavered
in
our commitment to delivering
much needed housing to our community
and
will always strive to improve Napa for all.
We firmly believe our best days are in front of us and with the pandemic thankfully in the past and our financial future
secured, we simply s
eek a further extension of time
with
no other changes to the Project.
Thank you for your consideration
and
please do not hesitate to contact me should you have any questions.
Very truly yours,
PACIFIC HOSPITALITY GROUP VENTURES, INC.
ANTHONY K. ZAND
General Counsel
(949)
774
-
1888
894011
ATTACHMENT 2