HomeMy WebLinkAboutRDA Reso 1999-1647 AGENCY RESOLUTION NO. 1647
RESOLUTION OF THE REDEVELOPMENT AGE ,ICY OF THE CITY OF
CHULA VISTA EXTENDING THE OWNI!R PARTICIPATION
AGREEMENT WITH LAWRENCE M. AND STE3HEN P. CUSHMAN,
DATED SEPTEMBER 1, 1992, FOR A PERI(:~D OF TVVO YEARS
(FINAL EXTENSION)
WHEREAS, the Redevelopment Agency ("Agency") !,ntereci into an Owner Participation
Agreement with Lawrence M. and Stephen P. Cushman ("Owners', on September 1, 1992; and,
WHEREAS, the Owner Participation Agreement required the Owners to obtain building permits
within two years from the date of the Agreement, and to develop he property within one year thereafter;
and,
WHEREAS, the Agency has approved several extension., of the Owner Participation Agreement
on March 1, 1994, on November 7, 1995, and on October 7, 1997; and
WHEREAS, the Owners have graded the site but have no as yet applied for building permits due
to development issues with location, access, grading and uniqu design features which have made it
difficult to satisfy potential tenants; and
WHEREAS, the Owners have requested an extension apply for building permits and start
construction.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY F THE CITY OF CFIULA VISTA does
hereby find, order, determine and resolve as follows:
1. The Owner Participation Agreement ("OPA") with La /rence M. and Stephen P. Cushman,
dated September 1, 1992, is hereby extended to ~)ctober 17, 2001, subject to Owners
entering into an amendment to the OPA that contains he following provisions:
a) the second sentence of Section 3.B of the OPA is 3ereby amended as follows:
"In the event the developer fails to obtain such buildir g permits by October 17, 2001, cr
tc cbt:!,~, :,", c.~.tc,~,s!c,", tc cbt=!,~, :c!d pcr,,m!t:, the aF 3roval of the developer's development
proposals shall be void and the Agreement shall have no further force or effect."
b) The following sentence shall be added to Section :LB. of the OPA
"Developer shall quarterly submit evidence, in a form acceptable to the Agency, that the site
is being actively marketed for development. The first quarterly report shall be due on March
30, 2000."
c) All other sections of the OPA shall remain in full fc 'ce and effect.
2. This shall be the final extension granted under the O~/ner Participation Agreement. Further
extensions of time shall require application be made enter into a new Owner Participation
Agreement.
BE IT FURTHER RESOLVED that the Chairman is hereby authorized to execute said
Amendment on behalf of the Agency.
PRESENTED BY: APPRO¥ ---D AS TO FORM BY:
Chris Salomone ~.heny
Director of Community Development )(.'~sel
Resolution No. 1647
Page 2 of 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 9th day of November, 1999 by the following vote:
AYES: Members Davis, Moot, Padilla, Salas and Chair/Mayor Horton
NOES: None
ABSENT: None
ABSTENTIONS: None
Shirley Hort¢
Chairman
A'FFEST: ~ ..~ ~
Chris Salomone
Executive Secretary
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss:
CITY OF CHULA VISTA )
I, Chris Salomone, Executive Secretary to the Redevelopment Agency of the City of Chula Vista,
California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No.
1647 and that the same has not been amended or repealed.
Dated: November 10, 1999 ~.~ ~ ~
Chris Salomone
Executive Secretary