HomeMy WebLinkAboutRDA Reso 2004-1859
RESOLUTION NO. 1859
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA ADOPTING THE SIXTH AMENDMENT TO THE
GATEWAY CHULA VISTA PROJECT DISPOSITION AND
DEVELOPMENT AGREEMENT (DDA)
WHEREAS, the Redevelopment Agency and the Developer (Gateway Chula Vista,
LLC) are parties to that certain Disposition and Development Agreement dated June 6,
2000 ("DDA"), as amended by that certain First Amendment to Disposition and
Development Agreement dated September 25, 2002 ("First Amendment"). as further
amended by that certain Second Amendment to Disposition and Development Agreement
dated December 17, 2001, ("Second Amendment"); and as administratively amended by
that certain Third Amendment to the Disposition and Development Agreement dated April
16, 2002; by that certain Fourth Amendment to the Disposition and Development
Agreement dated April 1, 2003; and by that certain Fifth Amendment to the Disposition
and Development Agreement dated November 18, 2003 (the First Amendment, the
Second Amendment, the Third Amendment, the Fourth Amendment, and the Fifth
Amendment are collectively referred to herein as the "DDA "); and
WHEREAS, the DDA relates to redevelopment, development, and operation of a
phased First Class, First Quality 344,000 square foot mixed-use commercial/office project
with restaurant and retail components and common areas, including a five-tier 1300
space parking structure that spans all Phases of the Project; specifically the retail
component will include up to 81,000 square feet with a restaurant, deli, coffee shop,
financial institution, and other retail uses, Phase I will include 102,237 square feet in a
five story office tower at the easterly portion of the Site, Phase II will include 125,000
square feet in a six story office tower, and Phase III will include 117,000 square feet in a
six story office tower at the westerly portion ("Project"); and
WHEREAS, timing of construction of the Project's Phase II improvements has been
delayed based upon overall market conditions and demand for office and retail space, the
lingering effects of the recession on financial lending institutions, and by the unavoidable
impacts of the terrorist attacks in 2001. As a result, the developer is requesting an
extension of time for completion of Phases II and III; and
WHEREAS, Agency is willing to grant the Developer's request because the
project's continued success is considered an important keystone to the overall success of
the City's downtown redevelopment effort.
NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency of the City of
Chula Vista does hereby approve the Sixth Amendment to the Gateway Chula Vista
Project Disposition and Development Agreement (DDA) in the form presented, with such
minor modifications as may be approved or required by the Agency Attorney.
BE IT FURTHER RESOLVED, the Chairman is authorized and directed to execute
final forms of the Sixth Amendment, and Agency staff is authorized and directed to take
all reasonable actions necessary to implement same.
Resolution No. 1859
Page 2
PRESENTED BY
APPROVED AS TO FORM BY
J
CJ\.. 'Y\A~
Ann Moore
Agency Attorney
Lau ie Madigan i
Dire tor of Community Development
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 17th day of February, 2004 by the following vote:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
Members Davis, McCann, Rindone, Salas, and Chair/Mayor Padilla
None
None
None
~-d/_
ATTEST:
Chairman/Mayor
STATE OF CALIFORNIA)
COUNTY OF SAN DIEGO) ss:
CITY OF CHULA VISTA)
I, Laurie Madigan, Executive Secretary to the Redevelopment Agency of the City of Chula Vista,
Califomia DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No.
1859 and that the same has not been amended or repeal~d.
Dated: February 17, 2004 ,~JLiJf -'~r
Lau e Madigan
Exe utive Secretary