HomeMy WebLinkAboutReso 2001-083 RESOLUTION NO. 2001-083
(AGENCY RESOLUTION NO. I718)
RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA APPROVING THE SECOND AMENDMENT TO THE
ASSESSMENT DISTRICT NO. 90-2 REIMBURSEMENT
AGREEMENT PROVIDING FOR REPAYMENT TO THE
AGENCY OF AN OUTSTANDING $440,087 LOAN
WHEREAS, the City of Chula Vista and the Redevelopment Agency (City/Agency)
entered into an Agreement with the Darling Delaware Company that deferred payment of the
Assessment Fees for their property located on Otay Valley Road; and
WHEREAS, the deferral was granted due to ongoing efforts to clean-up the property and
the resulting limitations on developability/sale of the property; and
WHEREAS, the Agency paid the Assessment and "loaned" to Darling Delaware the
$440,087 Assessment fee which was to be repaid to the Agency upon readiness of the property
for development; and
WHEREAS, on January 18, 2000, the Agency and Property Owner entered into an
agreement recorded on May 11, 2000, Doc. No. 2000-0244073, which provided for a further
deferral of the loan payment; and
WHEREAS, the Darling Company sold the property to LandBank in December 1999;
and
WHEREAS, LandBank will be selling the property to the end-user. The property is
presently in the entitlement process with a conceptually acceptable development plan; and
WHEREAS, LandBank has requested an additional deferral of the fees until it is able to
transfer title on 80-percent of the property or a date certain, whichever occurs first; and
WHEREAS, staff supports this deferral due to the fact that LandBank is not an end-user
and is currently involved in a good faith effort to secure environmental approvals and
entitlements to allow a sale of the property.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Chula
Vista and the Redevelopment Agency approve the second amendment to the Reimbursement
Agreement for Assessment District 90-2 in the form presented with such minor modifications as
may be approved or required by the City/Agency Attorney.
Presented by Approved as to form by
Jdhn"M. Kah~ny
Chris Salomone
Community Development Director CCorney
Resolution 2001-083 -
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 27th day of March, 2001, by the following vote:
AYES: Councilmembers: Davis, Padilla, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: Rindone
Shirl~y'ito~n: Mayor
ATTEST:
Donna No~s, Deputy City Clerk
STATE OF C~IFO~A ) --
CO~TY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Dora No~s, Deputy City Clerk of Chula Vista, Califomia, do hereby ceni~ that the
foregoing Resolution No. 2001-083 was duly passed, approved, ~d adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 27th day of M~ch, 2001.
Executed this 27th day of March, 2001.
Dora No~s, DepuW City Clerk