HomeMy WebLinkAboutReso 1996-18436 RESOLUTION NO. 18436
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING THE FIRST AMENDMENT TO THE TRIP
DEFERRAL AGREEMENT FOR RANCHO DEL REY SPA III
NEIGHBORHOODS R-6 AND R-7, AUTHORIZING THE MAYOR
TO EXECUTE SAME; APPROVING THE FINAL FORM OF THE
ASSOCIATED RELEASE OF TRIP DEFERRAL AGREEMENT, AND
AUTHORIZING THE CITY MANAGER TO EXECUTE SAID
RELEASE
WHEREAS, the City and Rancho Del Rey Partnership ("Partnership") entered into a Trip
Deferral Agreement for Rancho del Rey SPA III Neighborhoods R-6 and R-7 on June 22, 1993,
which was approved by the City Council under Resolution No. 17145 on June 22, 1993,
("The Original Agreement"); and
WHEREAS, the affected property located within Rancho del Rey SPA III Neighborhoods
R-6 and R-7 is further defined in Exhibit A to The Original Agreement ("Property"); and
WHEREAS, the Partnership transferred the Property to Rancho Del Rey Investors, L.P.
("Investors"); and
WHEREAS, section C.4 of The Original Agreement identified four events to occur as
a basis for its termination ("Release Events"), which termination is to occur through the City
Manager's execution of the specified Release of Trip Deferral Agreement ("Release
Agreement"); and
WHEREAS, on July 22, 1996, the City received a letter from the Investors stating their
position that the Release Events have occurred, and requesting that the City execute the
Release Agreement; and
WHEREAS, the City, in review of the Release Events has determined that the first three
Release Events have occurred; and
WHEREAS, given the demonstration of sufficient capacity in the City's street system
as evidenced by occurrence of the first three Release Events, the City, with the Investors
concurrence, has further determined that the fourth of the Release Events no longer has a
substantive purpose in granting a release, and should be deleted.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Chula Vista
does hereby:
1. Approve the First Amendment to the Trip Deferral Agreement for Rancho del
Rey SPA III Neighborhoods R-6 and R-7, a copy of which is on file in the office
of the City Clerk as Document No. CO96-151.
2. Approve the final form of the Release of Trip Deferral Agreement for Rancho del
Rey SPA III Neighborhoods R-6 and R-7, which form recognizes transfer of the
Property from the Partners to the Investors, a copy of which is on file in the
office of the City Clerk as Document No. 152.
Resolution 18436
Page 2
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute said First Amendment, and the City Manager is hereby authorized and directed to
execute said final Release of Trip Deferral Agreement, both on behalf of the City of Chula
Vista.
Presented by Approved as to form by
Robert A. I'eiter Ann Y. Moore
Director of Planning Acting City Attorney
Resolution 18436
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 17th day of September, 1996, by the following vote:
AYES: Councilmembers: Alevy, Moot, Rindone, Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: Padilia
ABSTAIN: Councilmembers: None
~14orton, May/~'~>or
ATTEST:
Beverly .~,. 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. 18436 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
September, 1996.
Executed this 17th day of September, 1996.
Beverly~.Autl~elet, City Clerk