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March 22, 2016 Valerie Barone City Manager City of Concord 1950 Parkside Dr. Concord, CA 94519
VIA EMAIL
Re: Catellus Position Concerning Next Steps for Master Developer
Dear Ms. Barone: I received your letter dated March 18, 2016 and have discussed my comments with Guy Bjerke. Although we don’t agree with several of the points made in the letter, we don’t think it makes sense to continue to go back and forth on our different interpretations of the items you referenced. However, one thing I want to specifically respond to is that we have not threatened litigation. To be clear, at this point we have not withdrawn from the process, but have asked for reasonable clarifications to the Agreement to Negotiate and the Catellus DDA Term Sheet. We believe the economics and structure of our proposal are significantly better for the City than those of Lennar’s (as was determined by your staff). Catellus would prefer to continue moving forward in this process, yet every week, there seem to be new mistruths, fabricated by certain individuals, which make it difficult for us to have confidence that the City wants a successful, long-term partnership with Catellus. As such, we view these clarifications as reasonable given everything that has happened over the last year. In addition, it would seem that the City would be motivated to work with us, given the many documented benefits of our proposal. However, given the City's preference not to consider our request, it makes sense for both parties to explore alternatives that would be acceptable to both the City and Catellus. With that in mind, if the City offers to refund to Catellus the $250,000 Good Faith Deposit, we would
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be willing to withdraw from the process and waive and release the City from any Claims we may have against the City or the LRA (a mutual release). If this is the course of action you prefer, please prepare the release for our review. Sincerely,
Ted Antenucci Cc:
Guy Bjerke, Director of Community Reuse Planning Michael Wright
Ca te ll u s Dev el op m en t Co rp ora ti o n