Resolution No.
STOCKTON CITY COUNCIL
RESOLUTION AUTHORIZING THE FIRST AMENDMENTS TO THE DEFERRED PAYMENT AGREEMENTS WITH GILL HOSPITALITY, LLC, AND SETHI HOLDINGS, LP, FOR THE BUILDING PERMITS 20-08543 AND 21-00268 In 1991, the City Council adopted the Public Facilities Fee Program to provide temporary financial relief for developers who may elect to defer payment of eligible Public Facilities Fees; and In June 2021, Gill Hospitality, LLC, and Sethi Holdings, LP, executed Deferred Payment Agreements for the Qualified Non-Residential Project for building permits 20-08543 and 21-00268, totaling $604,818.28, for the commercial property located at 3651 Arch Road, Stockton, California; and Gill Hospitality, LLC, and Sethi Holdings, LP, has experienced project delays due to the current economic situation as a result of the COVID-19 pandemic and building material supply-chain issues; and This project will develop a vacant site in southeast Stockton and generate Transient Occupancy Tax by developing a hotel and positively impacting the surrounding area; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:
The City Manager is hereby authorized to execute the First Amendments to the Deferred Payment Agreements between the City of Stockton and Gill Hospitality, LLC, and Sethi Holdings, LP, for Building Permits 20-08543, and 21-00268, copies of which are attached here to Exhibit 1 and Exhibit 2 and incorporated herein by this reference for the commercial property located at 3651 Arch Road, Stockton, California, to defer the initial payments of eligible Public Facilities Fees until the following year, to be evidenced by amendments to the agreements and promissory notes. //
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The City Manager is hereby authorized to take whatever actions are appropriate and necessary to carry out the purpose and intent of this Resolution.
PASSED, APPROVED, and ADOPTED December 6, 2022 .
KEVIN J. LINCOLN II
Mayor of the City of Stockton
ATTEST:
ELIZA R. GARZA, CMC
City Clerk of the City of Stockton