Legado settlement agreement
Here is a basic rundown of the settlement agreement:
• Timeline to build the Hotel
• A minor subdivision for the Hotel, which will result in a new parcel for the Hotel
• Hotel renovation plans to be submitted to the City within nine months after approval of agreement
• City shall take action within 45 days for the Hotel
• Hotel construction to "commence" within 24 months after approval
• If Legado fails to comply with the timeline, Legado shall pay a $1,000,000 fine to the City
• Reduction of commercial to 21,359 sq ft.
• NO PCH traffic mitigation, no tree removal
• Land dedication on PCH for future roadway purposes (7 ft. surface easement)
• Apartment units remain the same, at 115
• Legado performs sewer upgrade
• City Council to retain full discretion regarding the modified project.
• CEQA compliance within 30 days for the Hotel project
• If City Council agrees to the agreement, the lawsuit is dismissed.
• Entire agreement to be brought to a public hearing for full review.