HomeMy WebLinkAboutReso 1992-16797 RESOLUTION NO. 16797
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA FORGIVING A LOAN FOR THE CONSTRUCTION OF A PUBLIC
STREET tN THE VICINITY OF BRANDYWINE AVENUE AND OTAY
VALLEY ROAD IN THE OTAY VALLEY ROAD PROJECT AREA
CONTINGENT UPON IMPLEMENTATION OF THE OTAY VALLEY ROAD
WIDENING ASSESSMENT DISTRICT
WHEREAS, the City Council entered into an Agreement with the Werdin
Development Company and Mrs. Helen Cushman on October 28, 1986, for the
construction of a public street known as Shinohara Lane within the Otay Valley
Road Redevelopment Project Area; and,
WHEREAS, Ca;don-Meadow Development Corporation ("Developer"), successors
to the Werdin Corporation Company, accepted said Agreement on October 28, 1986;
and,
WHEREAS, Mrs. Helen Cushman has transferred her interests in the property
to Lawrence and Stephen Cushman ("Owners"); and,
WHEREAS, said Agreement required that the Developer construct the public
street known as Shinohara Lane and that the City of Chula Vista will pay one-half
the cost of the street up to a maximum of $57,000 to be reimbursed by the Owner,
with interest, at the time they develop the property and require access through
Shinohara Lane; and,
WHEREAS, Shinohara Lane has been completed and the Cushman property is
nearing development; and,
WHEREAS, the Council approved the Otay Valley Road Widening Assessment
District on June 23, 1992; and,
WHEREAS, the Council has determined that, due to excessive site development
problems and related costs, the best interests of the City would be served by
excusing the Owners from repayment of the loan from the City for construction of
Shinohara Lane.
The City Council of the City of Chula Vista does hereby resolve that the
repayment of the loan to Mrs. Helen Cushman, pursuant to the Agreement dated
October 28, 1986, is hereby forgiven and no further payment of principal or
Resolution No. 16797
Page 2
interest shall be required contingent upon implementation of the Otay Valley Road
Widenin9 Assessment District.
Presented by Approved as to form by
Community Development Di rector
Resolution No. 16797
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 1st day of September, 1992, by the following vote:
YES: Councilmembers: Horton, Malcolm, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, ~ayor
ATTEST:
~. A~uthelet, CityB 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. 16797 was duly passed, approved,
and adopted by the City Council held on the 1st day of September, 1992.
Executed this 1st day of September, 1992.
Beverly~.Ajthelet, City Clerk