City of Vallejo Planning Commission Agenda Packet 2026-06-15
City Concludes 2025 Mare Island Company Annual Review
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Description
Mare Island Company submitted the 2025 annual review required under the Lennar Development Agreement and Acquisition Agreement, documenting compliance with development obligations and ongoing negotiations over 5% rent revenue payments to the City. Planning staff found substantial compliance, concluding the 2025 review period.
Contract Details
Vendor
MARE ISLAND COMPANY
Agency
City of Vallejo, CA
Contract Type
CONSTRUCTION
Document Date
June 15, 2026
Contract Term
Ongoing obligations under 2001 Lennar DA and Acquisition Agreement; annual reviews required each March
Renewal Date
2026-09-11
Renewal Info
Annual review obligations recur each year under Article V of the DA; underlying DA currently expires September 11, 2026 with one remaining five-year extension option.
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