HomeMy WebLinkAboutReso 2003-292RESOLUTION NO. 2003-292
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROPRIATING $88,500 FROM THE
FISCAL YEAR 2002/2003 CDBG HI-TECH/BIOTECH FEE
REDUCTION PROGRAM FOR THE PROFIL INSTITUTE FOR
CLINICAL RESEARCH, APPROVING THE CDBG
AGREEMENT WITH THE PROFIL INSTITUTE FOR
CLINICAL RESEARCH, AND AUTHORIZING THE MAYOR
TO EXECUTE THE AGREEMENT
WHEREAS, the City of Chula Vista wishes to strengthen the local economy, ensuring
both a growing tax base and quality employment opportunities for Chula Vista residents, by
undertaking strategic business attraction efforts; and
WHEREAS, since January 2003, the City of Chula Vista has actively recruited the Profil
Institute for Clinical Research, a biotech research company expected to create approximately 25
new employment opportunities, to locate in Chula Vista; and
WHEREAS, the Profil Institute for Clinical Research, a biotech research company, was
considering sites outside of Chula Vista due to the lower lease costs offered in many Mid and
North County buildings as a result of the decline of the dotcom industry and the slowing national
and regional economy; and
WHEREAS, in order to provide incentive to Profil to locate in Chula Vista at 855 Third
Avenue, Suite 4400, the City offered Profil a grant in the amount of $88,500 to offset its first
year lease costs thereby easing their transition into the business community; and
WHEREAS, qualified funds are available in the Fiscal Year 2002/2003 CDBG
Hi-Tech/Bio Tech Development Impact Fee Reduction program; and
WHEREAS, staff requests that Council appropriate $88,500 from the balance of
available CDBG funds in the Hi-Tech/BioTech Development Impact Fee Reduction Program to
attract the Profd Institute for Clinical Research to Chula Vista.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista
does hereby (1) appropriate $88,500 from the Fiscal Year 2002/2003 CDBG Hi-Tech/Biotech
Fee Reduction Program for the Profil Institute for Clinical Research; (2) approve the CDBG
agreement with the Profil Institute for Clinical Research on terms presented and authorize the
Mayor to execute the agreement in a final form approved by the City Attorney; (3) authorize the
Mayor and staff to take such other actions as are necessary to implement the terms of this
approval.
Presented by
Approved as to form by
Co~ntnunity Development Director
Ann Moore
City Attorney
Resolution 2003-292
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 8th day of July, 2003, by the following vote:
ATTEST:
Councilmembers:
Councilmembers:
Councilmembers:
AYES:
NAYS:
ABSENT:
Davis, McCann, Rindone, Salas and Padilla
None
None
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2003-292 was duly passed, approved, and adopted by the City Council at a
regular meet'rog of the Chula Vista City Council held on the 8th day of July, 2003.
Executed this 8th day of July, 2003.
Susan Bigelov~, City Clerk