From the Email Inbox: OUT OF ORDER

Jacobsen is OUT OF ORDER

During the 15 months Jacobsen has had this property in escrow, he was supposed to assemble ALL the land parcels and SIGN tenants and provide approved building plans.

He was supposed to apply for permits & pay all fees (page 12) and meet all environmental requirements BEFORE getting title and closing escrow on the city land parcels.

Permits, fees and environmental are for approved projects. This project has not even been before the planning commission! until last Thursday's PR meeting.

This is the purpose of the 15 month exclusive due dilligence period from the Dec 2004 Development Agreement which expired on 4-15-2006!

IF the city allows 4 land sales now, without all the parcels there is no guarantee WHAT kind project will be approved there is no guarantee that a LIBRARY will be included.

With NO traffic studies done or environmental issues addressed, what will need mitigation, and how will it get done later?

Do the traffic study and the environmental report first. What are you waiting for? Quick cheap land sales?

If the city sells land at half price, the developer could sell to another and make double his money at a market rate sale of land.

Approvals first, environmental reports first, LAND sales after.