HomeMy WebLinkAboutRDA Reso 2004-1869
REDEVELOPMENT AGENCY RESOLUTION NO. 1869
CITY COUNTIL RESOLUTION NO.
JOINT 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 saie of Agency
owned property at 760 Broadway ("Property"), and the development of mixed use project comprised of 40 "lane
homes", 9 apartments, and approximately 10,000 square feet of retail space ("Projecr'); and
WHEREAS, Agency staff and the Developer have been working to complete the entitlement
process and to satisfy the various conditions to close 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WHEREAS, the various interests to be rescinded are no longer necessary as they relate back to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 Chula 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
Lauri Madigan
Direc r of Community Development
oJ
~oore
ity Attorney and A
Redevelopment Agency Resolution No. 1869
Page 2
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA,
CALIFORNIA this 20th day of April, 2004 by the following vote:
AYES:
Members Davis, McCann, Rindone, Salas, and Chair/Mayor Padilla
NOES:
None
ABSENT:
None
ABSTENTIONS:
None
~
Stephen C. Padilla
Chairman
ATTEST:
c ~
(f
STATE OF CALIFORNIA)
COUNTY OF SAN DIEGO) ss:
CITY OF CHULA VISTA)
I, Laurie A. Madigan, 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. 1869 and that the same has
not been amended or repealed.
Dated: April 20, 2004
ad? 0