HomeMy WebLinkAboutReso 1997-18809 RESOLUTION NO. 18809
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING A $15,000 SEED CAPITAL CONTRIBUTION
TO THE WESTERN REGIONAL BIOPROCESSING CENTER (WRBC)
WHEREAS, Council accepted the results of a Feasibility Study jointly funded by
EastLake Development Company and the City; and
WHEREAS, in 1994, Council endorsed efforts to develop the Western Regional
BioProcessing Center (WRBC) within the EastLake High Tech/Biotech Zone to benefit the
community by attracting high tech industry; and
WHEREAS, the purpose of the WRBC is to utilize scientific research and development
to educate and train undergraduate and graduate university students in the growing field of
bioprocessing; and
WHEREAS, in October 1996, Council approved $20,000 for the initial stage of the
WRBC seed capital campaign by reprogramming 1993-94 CDBG funds set-aside in the High
Tech/Biotech Zone Master EIR account and an Agreement for Donation Seed Capital was
executed; and
WHEREAS, the Western Regional Bioprocessing Center (WRBC) has been seeking
sponsors in order to obtain construction/equipment capital, as well as a state and federal tax
exemption; and
WHEREAS, this formation stage has been supported by seed capital contributions from
the City, the California State University, three San Diego biotech companies, an architectural
firm, and WRBC's founder and President; and
WHEREAS, the WRBC is concluding discussions with the State Franchise Tax Board
and the IRS regarding its noneprofit tax exempt status and with prospective corporate
sponsors; and
WHEREAS, funds are needed to cover non-IRS related legal costs, travel, overhead,
etc. through those decision points; and
WHEREAS, the expenditure of CDBG funds for this purpose is a qualified CDBG
expenditure pursuant to 24 CFR 570.203(b).
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby approve reprogramming $15,OOO from the Council-approved $1 OO,OOO in 1993/94
CDBG funds from the High Tech/Biotech Zone EIR account to the Western Regional
BioProcessing Center for seed capital.
BE IT FURTHER RESOLVED that staff is directed to finalize, and the City Manager is
authorized and directed to execute, an amendment to the Agreement for Donation of Seed
Capital to the WRBC in substantially the form presented, with such minor modifications as
may be approved by the City Attorney. Said amendment to be on file with the City Clerk's
Office and known as Document No. CO97-179.
Resolution 18809
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Presented by Approved as to form by
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Chris Salomone "n,, . a eny
comm.n,,~ Deve,o,ment D,ree,or ~e.!;~'Attorn~
Resolution 18809
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PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 4th day of November, 1997, by the following vote:
AYES: Councilmembers: Moot, Padilia, Rindone, Salas, and Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
orton//Mayor
ATTEST:
Authelet, 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. 18809 was duly passed, approved, and adopted by the City
Council at a regular meeting of the Chula Vista City Council held on the 4th day of November,
1997.
Executed this 4th day of November, 1997