Loading...
HomeMy WebLinkAboutReso 1996-18421 RESOLUTION NO. 18421 (AGENCY RESOLUTION NO, 1512) RESOLUTION OF THE CITY COUNCIL AND REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA: (1) APPROVING THE FIRSTAMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AND BROADWAY VILLAGE BUSINESS HOMES, L.P. AUTHORIZING A LOAN TO COVER THE COSTS OF DEVELOPMENT PERMITS AND PROCESSING FOR PHASE I OF THE BROADWAY BUSINESS HOMES PROJECT AND EXTENDING THE TERMS FOR SHARING IN SOIL REMEDIATION COSTS TO COMPLETE REMEDIATION; (2) APPROPRIATING FUNDS FROM THE OTAY VALLEY ROAD PROJECT AREA FUND TO BE LOANED TO THE SOUTHWEST PROJECT AREA AT THE COUNCIL APPROVED INTEREST RATE FOR INTRA-CITY LOANS; (3) APPROPRIATING FUNDS FROM SOUTHWEST PROJECT AREA FUND TO BROADWAY VILLAGE BUSINESS HOMES, L.P. AND TO FINANCE THE AGENCY'S PORTION OF ADDITIONAL SOIL REMEDIATION COSTS; (4) AUTHORIZING STAFF TO CONTRACT FOR SERVICES TO COMPLETE SOIL REMEDIATION. WHEREAS, the Agency entered into that certain Disposition and Development Agreement (the "DDA") with Broadway Village Business Homes, L.P.(the "Developer"), dated August 2, 1995, for the sale of Agency property located at 760 Broadway within the Southwest Redevelopment Project Area, to the Developer for the development of the Broadway Business Homes Project (the "Project"); and WHEREAS, it has been determined that the Project will help to eliminate blight in the Southwest Redevelopment Project Area; and WHEREAS, the Developer has requested that the Agency and the City defer certain development permit and processing fees due to the extended processing time and expenses related to approval of plans and the subdivision map for the Project; and WHEREAS, under authority from the Agency, staff has negotiated terms of a loan with the Developer under which the Agency will provide funds to cover permit and processing fee expenses for the development of six business homes; and WHEREAS, in order to approve such a loan, the Agency must approve an amendment to the DDA ("Amendment"); and WHEREAS, staff has drafted a proposed DDA Amendment and the City Council/Agency Board has reviewed same; and WHEREAS, under Health and Safety Code Section 33431 and 33433, the Council and Agency must notice and hold a public hearing to amend the terms of the DDA and make , Resolution 18421 Page 2 available to the general public a report identifying all of the terms and conditions of sale of the property; and WHEREAS, the Council and Agency have duly noticed and held a public hearing and have made available a report describing the terms and conditions of the sale of property in accordance with applicable laws; and WHEREAS, in order to fund the loan, it is necessary to loan funds from Otay Valley Road Redevelopment Project Area Fund to Southwest Redevelopment Project Area Fund in an adequate amount to cover the loan; and WHEREAS, such intra-agency loans are to be repaid at the interest rate approved by the Council; and WHEREAS, soil remediation costs on the Project Site are anticipated to exceed original estimates upon which the agreement was based requiring an amendment to the DDA to complete remediation; and WHEREAS, in accordance with Section 3.2 of the DDA, Developer and Agency staff have agreed to terms for the equal sharing of certain additional costs for remediation of contaminated soils on the Project Site, which such terms are set forth in the proposed DDA Amendment; and WHEREAS, after consideration of all evidence submitted at the public hearing, the City Council/Agency Board found and determined that with the approval of the Amendment to the DDA (a) it is in the best interests of the community that the Property be sold to the Developer without public bid; (b) the consideration paid and to be paid for the Property is not less than the fair reuse value thereof in light of the development costs for the Project, and the required uses, covenants and conditions imposed on the Project Site; and (c) the Project is necessary to effectuate the Redevelopment Plan and shall assist in the elimination of blight in the Southwest Redevelopment Project Area; and WHEREAS, a Negative Declaration has already been prepared and approved for the Project in accordance with CEQA, and because the Amendment to the DDA imposes no additional or new environmental impacts, no additional CEQA documentation is necessary. NOW THEREFORE, the City Council and the Redevelopment Agency of the City of Chula Vista do hereby find, order, determine, and resolve as follows: Section 1. The City Council/Agency hereby adopts the above recitals, findings and determinations. Section 2. The First Amendment of the Disposition and Development Agreement by and between the Redevelopment Agency of the City of Chula Vista and Broadway Village Business Homes, L.P., dated August 1,1995, a copy which is on file in the Offices of the City Clerk known as Document No. CO95-108 and Secretary to the Redevelopmerit Agency known as Document RACO-95-18, is hereby approved in the form presented; and the Mayor and Agency Chair is hereby authorized to execute same. Resolution 18421 Page 3 Section 2. Funds of Otay Valley Road Project Area from land sale proceeds are hereby appropriated to be loaned to the Southwest Project Area at the Council approved interest rate for intra-City loans. Section 3. Such funds deposited in the Southwest Project Area fund are hereby appropriated for the loan to Broadway Village Business Homes, L.P. and to finance the Agency's share of additional soil remediation costs. Section 4. Agency staff is hereby authorized to negotiate and obtain approval for agreements with consultants/contractors to complete the remediation of contaminated soils on the property in accordance with the terms of the herein approved DDA Amendment and the City/Agency purchasing rules. BE IT FURTHER RESOLVED that the Chair of the Redevelopment Agency is hereby authorized to execute the First Amendment on behalf of the Agency. Presented by Approved as to form by C ris Salomone Ann Y. Moo~e Community Development Director Acting City Attorney Resolution 18421 Page 4 PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 20th day of August, 1996, by the following vote: AYES: Councilmembers: Alevy, Moot, Padilia, Rindone, Horton NAYES: Councilmembers: None ABSENT: Councilmembers: Moot ABSTAIN: Councilmembers: None ~;t/'~n, Mayo'/~r ATTEST: Beverly A[Authelet, City Clerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ss. 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. 18421 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 20th day of August, 1996. Executed this 20th day of August, 1996. Beverly A./Authelet, City Clerk