HomeMy WebLinkAbout20211029_Development Agreement Amendment
October 29, 2021
Mrs. Grace Leung
City Manager
City of Newport Beach
100 Civic Center Drive
Newport Beach CA 92660
SUBJECT: Hoag Memorial Hospital Presbyterian- Development Agreement Amendment
No DA2018-004
Dear Mrs. Grace Leung,
Pursuant to the terms of the Third Amendment of the Development Agreement between
the City and Hoag Memorial Hospital Presbyterian, Hoag will make a payment of $600,000
for both the third- and fourth-year’s obligations of the agreement, which will cover
Development Agreement payments through December 18, 2023. As stipulated in the
Agreement, the funds are to support the City’s efforts to address homelessness.
We appreciate the City of Newport Beach’s continued support of Hoag, including the
pending adoption of the Fifth Agreement, in our efforts to provide the highest level of care
for this community and to continue supporting those at the highest risk. Please feel free to
reach out should there be any questions. (949) 764-1900.
Sincerely,
Sanford Smith
Senior VP Real Estate and Facilities