HomeMy WebLinkAboutReso 1998-19257 RESOLUTION NO.19257
(AGENCY RESOLUTION NO. 1606)
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
APPROVING AN EXCLUSIVE NEGOTIATING AGREEMENT
SUBJECT TO OWNER PARTICIPATION RIGHTS WITH
TUCHSCHER DEVELOPMENT ENTERPRISES, INC. REGARDING
DEVELOPMENT OF A MIXED USE DEVELOPMENT ON THE
MIDBAYFRONT PROPERTY CONTINGENT UPON A SIGNED
AGREEMENT WITH CHULA VISTA CAPITAL AND TUCHSCHER
DEVELOPMENT ENTERPRISES, INC.
WHEREAS, representatives of Tuchscher Development Enterprises, Inc. ("Developer")
are proposing to develop the Midbayfront property with a 2.7 million square foot mixed use
project comprised of resort, multi-family residential, R&D/office, entertainment/retail, and
active park and open space; and
WHEREAS, the proposed project area is 126.8 acres and is comprised of 15 parcels,
including 5 parcels owned by the Redevelopment Agency and 1 parcel owned by the City of
Chula Vista; and
WHEREAS, the Developer has requested an Exclusive Negotiating Agreement (ENA)
with the Agency/City for one year, with an option for a six month extension, in order to
develop plans, pursue entitlements, secure financing and negotiate a Disposition and
Development Agreement; and
WHEREAS, the Agency/City is willing to enter into an ENA due to the high quality of
the proposal and its potential to eliminate blighting conditions in the Bayfront Redevelopment
Project Area, in addition to serving as a catalyst for development of the remainder of the
Bayfront; and
WHEREAS, the ENA, in compliance with State Law, provides for the extension of
owner participation rights to all property owners and tenants which are party to the ENA.
NOW, THEREFORE, BE IT RESOLVED that the City Council and Redevelopment Agency
of the City of Chula Vista do hereby (1) approve the Exclusive Negotiating Agreement, a copy
of which is on file in the office of the City Clerk, known as Document Number C098-229,
subject to owner participation rights with Tuchscher Development Enterprises, Inc. in the form
presented and authorize and direct the Mayor/Chair to execute same, contingent upon a
signed Agreement with Chula Vista Capital and Tuchscher Development Enterprises, Inc., and
(2) direct staff to extend Owner Participation Rights in accordance with State law and the
requirements of the Bayfront Redevelopment Plan.
Presented by Approved as to form by
Chris Salomone J~J.~yAM. Kaheny ~
Community Development Director ttorney and Agency Attorney
Resolution 19257
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 1Th day of November, 1998, by the following vote:
AYES: Councilmembers: Moot, Rindone, Padilia and Norton
NAYS: Councilmembers: None
ABSENT: Councilmembers: Salas
ABSTAIN: Councilmembers: None
Shir~yor~
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of Chula Vista, California, do hereby certify that the
foregoing Resolution No. 19257 was duly passed, approved, and adopted by the City Council
at a regular meeting of the Chula Vista City Council held on the 17th day of November, 1998.
Executed this 17th day of November, 1998.
B~t ~ ~ h City Clerk