HomeMy WebLinkAboutReso 2004-123
RESOLUTION NO. 2004-123
(AGENCY RESOLUTION NO. /869)
RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA APPROVING A RECESSION AGREEMENT TO
ELIMINATE UNNECESSARY CITY AND AGENCY
INTERESTS IN PROPERTY AT 760 BROADWAY
WHEREAS, on June 10, 2003, the City Council and Redevelopment Agency held all
required hearings and approved a Disposition and Development Agreement ("DDA") that
provided for the sale of Agency owned property at 760 Broadway ("Property"), and the
development of mixed used project comprised of 40 "lane homes", 9 apartments, and
approximately 10,000 square feet of retail space ("Project"); and
WHEREAS, Agency staff and the Developer have been working to complete the
entitlement process and to satisfy the various conditions to close of escrow; and
WHEREAS, the recession of various interests in the Property held by the City and
Agency under various recorded documents is necessary to fulfill the Agency's agreement to
convey "clean title" to the Property; and
WHEREAS, the various interests to be rescinded are no longer necessary as they relate
back to the Citron's abandoned project, Broadway Village Business Homes.
NOW, THEREFORE, BE IT RESOLVED that the City Council and the Redevelopment
Agency of the City of Chura Vista do hereby approve a Recession Agreement to eliminate
unnecessary City and Agency interests in Property at 760 Broadway.
Presented by
Approved as to form by
~~~J
Ann Moore
City Attorney/Agency Counsel
Resolution 2004-123
Page 2
PASSED, APPROVED, and ADOPTED by the City Council and the Redevelopment
Agency of the City of Chula Vista, California, this 20th day of April, 2004, by the following vote:
AYES:
Agency /Councilmembers:
Davis, McCann, Rindone, Salas and Padilla
NAYS:
Agency/Councilmembers:
None
ABSENT:
Agency/Councilmembers:
None
ATTEST:
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Susan Bigelow, CMC, City Clerk
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 City
Council Resolution No. 2004-123/Redevelopment Agency Resolution No. 1869 was duly
passed, approved, and adopted by the City Council and Redevelopment Agency at a regular
meeting held on the 20th day of April, 2004.
Executed this 20th day of April, 2004.
~éL-L'~~
Susan Bigelow, CMC, City C erk