HomeMy WebLinkAboutRDA Reso 2004-1879
RESOLUTION NO. 1879
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA APPROVING A SEMI-EXCLUSIVE NEGOTIATING
AGREEMENT WITH ESPANADA CV, LLC FOR DEVELOPMENT OF A
MIXED USE REAL ESTATE PROJECT LOCATED ALONG THE
NORTHERN PORTION OF H STREET BE1WEEN THIRD AND FOURTH
AVENUE AND AUTHORIZING CHAIR TO EXECUTE SAID AGREEMENT
WHEREAS, representatives of Espanada CV LLC ("Developer") are proposing to develop the
northern portion of H street between Third and Fourth Avenue with a high quality mixed use project
comprised of for-sale and rental residential units, neighborhood retail and commercial spaces; and
WHEREAS, the proposed project area is comprised of approximately 4.25 developable acres with 7
parcels, including 1 parcel owned by tihe Developer, and 6 parcels owned by private parties within tihe City of
Chula Vista adjacent to the Gateway Office Building; and
WHEREAS, the Developer has requested a Semi-Exclusive Negotiating Agreement (ENA) with the
Agency for one hundred twenty-days (120), witih an option for a one hundred twenty-days (120) extension, in
order to develop plans, pursue entitlements, secure financing, and negotiate a Disposition and Development
Agreement (DDA) on the terms set forth therein; and
WHEREAS, the Agency is willing to enter into a Semi-ENA due to the high quality of the proposal
and its potential to eliminate blighting conditions in the Merged Project Area Redevelopment Project Area by
serving as a catalyst for quality development and revitalization witihin the City Urban Core; and
WHEREAS, the approval of tihe Semi-ENA is exempt from CEQA under CEQA Guidelines Section
15061 (b)(3); and
WHEREAS, the Semi-ENA, in compliance with State Law, provides for tihe extension of owner
participation rights to all property owners and tenants which are implicated by the proposed project; and
WHEREAS, the Agency has extended owner participation rights as required by law.
NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency of the City of Chula Vista does
hereby approve the Semi-Exclusive Negotiating Agreement subject to owner participation rights with
Espanada CV LLC for development of the mixed use real estate project located along the Northern side of H
Street between Third and Fourth Avenue and authorizes the Chair to execute said Agreement.
PRESENTED BY
APPROVED AS TO FORM BY
Laun Madigan
Dire or of Communi
CA~
Ann Moore
Agency Attorney
Page 2
Resolution No. 1879
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA, CALIFORNIA this 23rd day of June, 2004 by the following vote:
AYES:
NOES:
Members Davis, Rindone, Salas, McCann, Chair/Mayor Padilla
None
ABSENT:
None
Steph n C. Padilla
Chairman
ABSTENTIONS:
None
ATTEST:
STATE OF CALIFORNIA)
COUNTY OF SAN DIEGO) ss:
CITY OF CHULA VISTA)
I, Laurie Madigan, Executive Secretary to tihe Redevelopment Agency of the City of Chula Vista, Califomia DO
HEREBY CERTIFY that tihe foregoing is a full. true and correct copy of Resolution No. 1879 and that the same
has not been amended or repealed.
Dated: June 23. 2004
Lauri A. Madigan
Exec t¡ve Secretary