HomeMy WebLinkAboutReso 1993-17054 RESOLUTION NO. 17054
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING THE COOPERATION AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY AND THE CITY OF CHULA VISTA FOR THE
PROVISION OF FINANCIAL ASSISTANCE PURSUANT TO THE TERMS
AND CONDITIONS OF THAT CERTAIN DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND AMONG THE REDEVELOPMENT
AGENCY OF THE CITY OF CHULA VISTA AND THE DGF FAMILY
LIMITED PARTNERSHIP, DAVID D. ORDWAY, CHRISTINA L.
ORDWAY, TRAVIS A. RENEAU, AND MARGARET L. RENEAU,
APPROVED ON SEPTEMBER 15, 1992 FOR THE DEVELOPMENT OF AN
AUTO SALES PARK WITHIN THE OTAY VALLEY ROAD
REDEVELOPMENT PROJECT AREA
WHEREAS, the Redevelopment Agency has entered into that certain Disposition
and Development Agreement ("DDA") by and between the Agency and the DGF Family
Limited Partnership, David D. Ordway, Christina L. Ordway, Travis A. Reneau, and
Margaret L. Reneau ("AUTO SALES PARK DEVELOPERS") pertain to the redevelopment
of a portion of the Otay Valley Road Redevelopment of a portion of the Otay
Valley Road Redevelopment Project Area; and,
WHEREAS, said Agreement called for certain financial assistance to be
provided by the Redevelopmerit Agency to assist in the development of the proposed
Auto Sales Park including the payment of incentive and post-incentive payments
to the Auto Sales Park Developers pursuant to certain terms and conditions in
Section 401 of the DDA; and,
WHEREAS, in order to make the subject incentive and post-incentive
payments, it will be necessary for the Redevelopment Agency to borrow funds from
the City of Chula Vista; and,
WHEREAS, a Cooperative Agreement has been prepared detailing the terms and
conditions of the loan from the City of Chula Vista to the Redevelopmerit Agency
for the purpose of making incentive and post-incentive payments to the Auto Sales
Park Developers, known as document number C093-066, a copy of which is on file
in the office of the City Clerk, said Agreement being on file in the office of
the Secretary to the Redevelopmerit Agency and known as document RAC0-07-93.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CHULA VISTA does hereby
find, order, determine, and resolve: that the Cooperation Agreement between the
Redevelopment Agency and the City of Chula Vista, known as document number C093-
066, a copy of which is on file in the office of the City Clerk, on file in the
office of the Secretary to the Redevelopment Agency and known as document RAC0-
07-93, is hereby approved.
T il"li'
Resolution No. 17054
Page 2
BE IT FURTHER RESOLVED that the Mayor is authorized to sign the Cooperative
Agreement on behalf of the City of Chula Vista.
Presented by r as o orm
Chris Salomone ,
Community Development Di rector City Attorney ~
Resolution No. 17054
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 13th day of April, 1993, by the following vote:
YES: Councilmembers: Fox, Horton, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
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. 17054 was duly passed, approved,
and adopted by the City Council held on the 13th day of April, 1993.
Executed this 13th day of April, 1993.
Authelet, City Clerk