AGENDA PROPERTY MANAGEMENT COMMITTEE MEETING ...

AGENDA ITEM SUBMITTALMeeting Date: March 22, 2013To: Property Management Cte./Board of DirectorsFrom: Mike MarkusStaff Contact: R. Herndon/B. Dosier/D. JacksonBudgeted: N/ABudgeted Amount: N/ACost Estimate: N/AFunding Source: N/AProgram/ Line Item No. N/AGeneral Counsel Approval: YesEngineers/Feasibility Report: N/ACEQA Compliance: N/ASubject:NOTICE OF RELEASE OF COVENANT FOR ACCESS AND SAMPLINGRIGHTS RELATED TO GROUNDWATER REMEDIATION FOR GREATPARK NEIGHBORHOOD DISTRICT 8SUMMARYFivepoint Communities (“Fivepoint”) acquired four parcels of the former Marine CorpsAir Station (MCAS) El Toro in 2005 as Heritage Fields LLC. As part of the propertyacquisition, including Parcel 1, a covenant was placed in the acquisition deed grantingOCWD and the Irvine Ranch Water District (“IRWD”) the right to enter the property totake soil samples for purposes relating to former operations at MCAS El Toro. Fivepointis currently developing its first phase of residential development on a portion of theParcel 1 area known as “District 8” and has requested that OCWD and IRWD releasethis area from the above described covenant. District staff has reviewed the requestand determined that there are no current or anticipated future OCWD soil investigationson the property and, therefore, recommends Board approval of the Notice of Release.Attachment(s):• Exhibit A -Resolution• Exhibit B - Notice of Release• Exhibit C - Notice of Release AreaRECOMMENDATIONAgendize for April 3 Board meeting: Approve and authorize execution of the Notice ofRelease of Sec. III, Paragraph G of Quitclaim Deed per Inst. No. 2005000536288, O.R.Great Park Neighborhood – District 8BACKGROUND/ANALYSISWhen Fivepoint acquired portions of the former MCAS El Toro in 2005 as HeritageFields LLC, OCWD and IRWD were working with the Navy on groundwater remediationwithin the base as part of the Irvine Desalter Project (”IDP”). The base property wasacquired by Fivepoint as four parcels by four separate quitclaim deeds entitled“Quitclaim Deed and Environmental Restriction Pursuant to Civil Code Section 1471”.As part of the acquisition of Parcel 1 of the base property per deed recorded July 12,