HomeMy WebLinkAboutReso 2019-218RESOLUTION NO. 2019-218
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING AN AMENDED AND RESTATED
REVENUE SHARING AGREEMENT BY AND BETWEEN THE
CITY OF CHULA VISTA AND THE SAN DIEGO UNIFIED
PORT DISTRICT (CHULA VISTA BAYFRONT RESORT
HOTEL AND CONVENTION CENTER AND RELATED
PUBLIC INFRASTRUCTURE)
WHEREAS, the City of Chula Vista (the “City”) and the San Diego Unified Port District
(the “District”) began a collaborative planning process with the community to develop a
comprehensive Chula Vista Bayfront Master Plan (CVBMP) in 2002; and
WHEREAS, on May 18, 2010, the District and the City unanimously approved the Final
Environmental Impact Report (UPD#83356-EIR-658; SCH No. 2005081077) for the CVBMP;
and
WHEREAS, the City and District are parties to that certain Amended and Restated Chula
Vista Bayfront Master Plan Financing Agreement dated June 20, 2017, by and between the City
and the District (the “Financing Agreement”); and
WHEREAS, the City and District are parties to that certain Disposition and Development
Agreement (the “DDA”) dated May 7, 2018, with RIDA Chula Vista, LLC (“RIDA”), which
contemplates the development of a resort hotel and convention center (the “RHCC Project”) and
related public infrastructure improvements; and
WHEREAS, it is expected that as part of the closing of the obligations contemplated under
the DDA (“Close of Escrow”), the City and the District, through a joint exercise of powers
authority will issue revenue bonds to support the financing of the Convention Center and the
RHCC Public Improvements (each as defined in the Financing Agreement); and
WHEREAS, the City and District are parties to that certain Revenue Sharing Agreement
dated April 24, 2018 (the “Original RSA”); and
WHEREAS, the City and District mutually desire to amend and restate the Original RSA,
in the form presented in Exhibit 1 to this resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that it approves the Amended and Restated Revenue Sharing Agreement By and Between the City
of Chula Vista and the San Diego Unified Port District (Chula Vista Bayfront Resort Hotel and
Convention Center and Related Infrastructure), in the form presented, with such minor
modifications as may be required or approved by the City Attorney, a copy of which shall be kept
on file in the Office of the City Clerk, and authorizes and directs the Mayor to execute same.
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Resolution No. 2019-218
Page No. 2
Presented by Approved as to form by
Gary Halbert Glen R. Googins
City Manager City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 19th day of November 2019 by the following vote:
AYES: Councilmembers: Diaz, Galvez, McCann, Padilla, and Casillas Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Mary Casillas Salas, Mayor
ATTEST:
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2019-218 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 19th day of November 2019.
Executed this 19th day of November 2019.
Kerry K. Bigelow, MMC, City Clerk
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