From: Pauline Block
To: CityCouncilListPublic
Cc: Smith, Maraskeshia; CA Office; [email protected]; Kristina D. Lawson Subject: [EXTERNAL] December 10, 2024 Regular City Council Meeting Agenda Item 16.1 Date: Monday, December 9, 2024 1:55:05 PM
Attachments: Safe Attachments Scan In Progress.msg
Good Afternoon Honorable Mayor and Members of the City Council,
Please see the attached letter regarding the December 10, 2024 Regular City Council Meeting Agenda Item 16.1, Public Hearing to Review Evidence of Default by Cornerstone Properties II, LLC on the Property Located at 410 B Street, Santa Rosa, CA APN 010-045-025.
I have also attached the letter referenced from November 22, 2024 sent to City Manager Maraskeshia Smith.
Please reach out to me directly with any questions.
Thank you,
Pauline Block
Cornerstone
Maraskeshia Smith, City Manager
City of Santa Rosa
100 Santa Rosa Ave, Ste 10
Santa Rosa, California 95404
Delivered via email to City Manager Maraskeshia Smith at [email protected] CC: Jill Scott [email protected]; Jason Nutt [email protected] RE: June 8, 2021 Agreement of Purchase and Sale for Future Infill Development and Joint Escrow Instructions (“PSA”) between the City of Santa Rosa and Cornerstone Properties
SA, LLC
November 22, 2024
Dear Ms. Smith,
Thank you for your meeting our team last month in regards to our obligations under the post-closing covenants in Section 23(d)(i) of the PSA for 521 Fifth Street, as extended previously. Despite our diligent efforts, industry-wide material instability and ongoing financial structuring have continued to delay our progress. CP remains committed to the development of the project, and appreciates the City’s collaboration.
We have been working with architecture and planning firm, Dunnigan Sprinkle, to receive updated timelines in completing the Design Review Board Full Concept project submittal for the B Street and Mendocino Avenue parcels. The principal owners of Dunnigan Sprinkle, Brendan Dunnigan and Tom Sprinkle, will be the day-to-day architects working on the project. Brendan will fulfill the role of Project Manager and primary contact, and Tom will be the Design Director. The firms qualifications package is attached.
Given the ongoing and unanticipated delays, we request an additional 9-month extension of time from the date of this letter agreement.
We appreciate your understanding and continued support in this matter.
Sincerely,
Alon Adani, Principal
707-526-4799
1435 N. McDowell Blvd, Suite 110
Petaluma, CA 94954