HomeMy WebLinkAboutReso 2024-156
RESOLUTION NO. 2024-156
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING AN ACQUISITION/FINANCING
AGREEMENT RELATING TO COMMUNITY FACILITIES
DISTRICT NO. 2024-1 (CITRUS BAY) AND AUTHORIZING
RELATED ACTIONS
WHEREAS, the City of Chula Vista (the “City”) is a municipal corporation and charter
city duly organized and existing under and pursuant to the Constitution and the laws of the State
of California (the “State”); and
WHEREAS, at the request of CWC BROADWAY CV 256 LLC, a Delaware limited
liability company (the “Developer”), the developer of the Citrus Bay development project (the
“Project”), the City Council of the City has authorized the formation of the Community Facilities
District No. 2024-1 (Citrus Bay) of the City of Chula Vista, County of San Diego, State of
California (the “CFD”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended
(the “Act”); and
WHEREAS, the CFD is authorized to finance City facilities and related costs in satisfaction
of certain City development impact fees (the “Fees”) authorized to be financed under the Act and
certain City facilities to be constructed by or on behalf of the Developer (“Improvements”); and
WHEREAS, there has been presented to the City Council, the form of an
Acquisition/Financing Agreement by and among the City and the Developer (the “Acquisition
Agreement”) to establish the terms and conditions for acquiring and financing the Improvements
and Fees.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that:
SECTION 1. Each of the above recitals is true and correct and are hereby incorporated
into this Resolution as though fully set forth herein.
SECTION 2. The form of Acquisition Agreement as presented to this City Council and
on file with the City Clerk is hereby approved. The City Manager and such other official or
officials of the City as may be designated in writing by this City Council (each, an Authorized
Officer” and together, the “Authorized Officers”) are each authorized to execute the Acquisition
Agreement for and on behalf of the City with such changes thereto as such Authorized Officer,
following consultation with the City Attorney and Best Best & Krieger LLP, deem to be in the
best interests of the City.
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Resolution No. 2024-156
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SECTION 3. The Authorized Officers and other officers, employees, and agents of the
City, are hereby authorized and directed, jointly and severally, to do any and all things which they
may deem necessary or advisable in order to consummate the transactions herein authorized and
otherwise to carry out, give effect to and comply with the terms and intent of this Resolution. All
actions heretofore taken by the Authorized Officers and other officers, employees, and agents of
the City with respect to the matters described herein are hereby approved, confirmed, and ratified.
SECTION 4. This Resolution shall take effect immediately upon its adoption.
BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that this
resolution shall become effective immediately.
[SIGNATURES ON THE FOLLOWING PAGE]
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Resolution No. 2024-156
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Presented by Approved as to form by
Laura C. Black, AICP Marco A. Verdugo
Director of Development Services City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 16th day of July 2024 by the following vote:
AYES: Councilmembers: Chavez, Gonzalez, Preciado, and McCann
NAYS: Councilmembers: None
ABSENT: Councilmembers: Morineau
John McCann, 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. 2024-156 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 16th day of July 2024.
Executed this 16th day of July 2024.
Kerry K. Bigelow, MMC, City Clerk
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