HomeMy WebLinkAboutReso 1997-18737 RESOLUTION 18737
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RESOLUTION OF THE CITY OF CHULA VISTA CITY COUNCIL
TERMINATING THE FIRST CONCESSION GRANTING
AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND
EASTLAKE DEVELOPMENT COMPANY
WHEREAS, in an effort to encourage Nypro San Diego, a high technology business
located in Chula Vista which was considering relocating to a site outside of the City, to
relocate within the City's High Tech/Bio Tech Zone in order to help "seed" the Zone with a
growing, high-tech, biomedical company, the City of Chula Vista entered into a certain
agreement with EastLake Development Company; said agreement is known as the "First
Concession Granting Agreement" ("Agreement") and known as document number CO95-
191; and
WHEREAS, the Agreement contained certain provisions which were intended to
serve as inducements for Nypro's relocation to the EastLake Business Park within the
City's limits, as opposed to a potential relocation outside of the City; and
WHEREAS, one provision of the Agreement places a $50,000.00 value on action
by the City, within certain timeframes, to change the name of Orange Avenue to Olympic
Parkway or Olympic Drive; and
WHEREAS, other reasons now exist for a street name change from Orange Avenue
to Olympic Parkway, and the City Council no longer wishes to exact said $50,000,000
value from EastLake for such a street name change.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby find,
determine and resolve as follows: In light of the information provided and considered, the
City Council hereby terminates the "First Concession Granting Agreement" between the
City of Chula Vista and EastLake Development Company regarding the high tech/bio tech
economic incentive program, dated October 3, 1995, and releases EastLake Development
Company from their obligations therein.
Presented by Approved as to form by
Robert A. Leiter ny
Planning Director
Resolution 18737
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 22nd day of July, 1997, by the following vote:
AYES: Councilmembers: Moot, Rindone, Salas, and Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: Padilia
ABSTAIN: Councilmembers: None
· Mayor
ATTEST:
~utheiet, City Clerk '
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California· do hereby certify
that the foregoing Resolution No. 18737 was duly passed, approved, and adopted by the
City Council at a regular meeting of the Chula Vista City Council held on the 22nd day of
July· 1997.
Executed this 22nd day of July, 1997
Beverly A.~uthel~t, City Clerk