HEARING - Consider recommendations regarding the Santa Barbara Ranch Inland Development Agreement and consideration of consent to Transfer Agreement, as follows: (EST. TIME: 2 HRS.)
a) Receive and file a written request from SBRHC, Inc. for the County to consent to a proposed Transfer Agreement, between SBRHC, Inc. and Spectra America Corp. (Spectra America), of respective interests, rights and obligations under the Inland Development Agreement, Inland Project Approvals and Subsequent Inland Approvals for the Santa Barbara Ranch Project; and either:
b) Accept the waiver of the 45 day time period in which to consider the Transfer Agreement and set a hearing for August 20, 2013; or
c) Determine that the County does not consent to the proposed Transfer Agreement because the proposed Transferee, Spectra America, has not provided any evidence of its reputation and financial resources to be able to perform the obligations proposed to be assumed. However, if Spectra America provides such evidence, the County is willing to reconsider its consent.
COUNTY EXECUTIVE OFFICER'S RECOMMENDATION: POLICY