HomeMy WebLinkAboutRDA Reso 2001-1718
RESOLUTION NO. 1718
(COUNCIL RESOLUTION NO. 2001-083)
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
APPROVING THE SECOND AMENDMENT TO THE ASSESSMENT
DISTRICT NO. 90-2 REIMBURSEMENT AGREEMENT PROVIDING
FOR REPAYMENT TO THE AGENCY OF AN OUTSTANDING $440,087
LOAN
WHEREAS, the City of Chula Vista and the Redevelopment Agency (City/Agency) entered into
an Agreement with the Darling Delaware Company that deferred payment of the Assessment Fees for
their property located on Otay Valley Road; and
WHEREAS, the deferral was granted due to ongoing efforts to clean-up the property and the
resulting limitations on developability/sale of the property; and
WHEREAS, the Agency paid the Assessment and "loaned" to Darling Delaware the $440,087
Assessment fee which was to be repaid to the Agency upon readiness of the property for development;
and .
WHEREAS, on January 18, 2000, the Agency and Property Owner entered into an agreement
recorded on May 11, 2000, Doc. No. 2000-0244073, which provided for a further deferral of the loan
payment; and
WHEREAS, the Darling Company sold the property to LandBank in December 1999; and
WHEREAS, LandBank will be selling the property to the end-user. The property is presently in
the entitlement process with a conceptually acceptable development plan; and
WHEREAS, LandBank has requested an additional deferral of the fees until it is able to transfer
title on 80-percent of the property or a date certain, whichever occurs first; and
WHEREAS, staff supports this deferral due to the fact that LandBank is not an end-user and is
currently involved in a good faith effort to secure environmental approvals and entitlements to allow a sale
of the property.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Chula Vista and the
Redevelopment Agency approve the second amendment to the Reimbursement Agreement for
Assessment District 90-2 in the form presented with such minor modifications as may be approved or
required by the City/Agency Attorney.
Presented by
Approved as to form by
C""~"~~
Director of Community Development
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Resolution No. 1718
(Council Resolution No. 2001-083)
Page 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 27'h day of March, 2001 by the following vote:
AYES:
Davis, Padillo, Salas, and Chair/Mayor Horton
NOES:
ABSENT:
Rindone
ABSTENTIONS:
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Shirley Hort
Chairman
ATTEST:
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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.
1718 and that the same has not been amended or repealed.
Dated: March 28, 2001
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Chris Salomone
Executive Secretary