HomeMy WebLinkAboutCVRC Reso 2006-033
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CVRC RESOLUTION NO 2006-033
RESOLUTION OF THE CHULA VISTA REDEVELOPMENT
CORPORATION APPROVING AN EXCLUSIVE
NEGOTIATING AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY AND WAKELAND HOUSING
AND DEVELOPMENT CORPORATION REGARDING THE
POTENTIAL DEVELOPMENT OF A REAL ESTATE PROJECT
LOCATED AT 1501 BROADWAY IN THE CITY OF CHULA
VISTA
WHEREAS, it is the role and responsibility of the Redevelopment Agency of the City of
Chula Vista ("Agency") to promote economic vitality, create market confidence, encourage
environmental health and remediation, create public benefits and amenities, and facilitate the
development, reconstruction, and rehabilitation of residential, commercial, industrial, and retail
uses; and
WHEREAS, an Exclusive Negotiating Agreement ("ENA") is an important
redevelopment tool to the Agency to establish a legal and contractual framework for negotiations
and provide a defined time line for completion of predevelopment activities with a developer
about a potential redevelopment project; and
WHEREAS, Wakeland Housing and Development Corporation ("Developer") is
interested in developing an affordable project at 1501 Broadway ("Property"), located in the
Agency's Merged Redevelopment Project Area; and
WHEREAS, the Developer has an Option to Purchase Property and requested a
Predevelopment Loan to pursue project feasibility; and
WHEREAS, staff has determined that Developer is qualified to design and develop a
high quality affordable project at the proposed development site that is consistent with the goals
of the Agency's adopted Redevelopment Plan for the Merged Redevelopment Project Area; and
WHEREAS, it is in the interest of the Agency and Developer for the Agency to execute
and enter into ail ENA with Developer for the proposed development site based on Developer's
qualifications; and
WHEREAS, the ENA also retains Agency sole discretion for future actions necessary to
process any project and does not commit the Agency to the approval of or financial participation
in the project; and
WHEREAS, approval of the ENA is exempt from the California Environmental Quality
Act ("CEQA") pursuant to Section 15061(b)(3) of the State CEQA Guidelines.
NOW THEREFORE BE IT RESOLVED that the Redevelopment Agency of the City of
Chula Vista does hereby approve the Exclusive Negotiating Agreement with Wakeland Housing
CVRC Resolution No. 2006-033
Page 2
and Development Corporation for potential development of a real estate project located at 1501
Broadway and authorizes the Chair to execute said Agreement.
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PRESENTED BY
APPROVED AS TO FORM BY
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Ann Hix
Acting Director of Community Development
PASSED, APPROVED, and ADOPTED by the Chula Vista Redevelopment Corporation
of the City ofChula Vista, this 10th day of August 2006, by the following vote:
AYES
Directors:
Castaneda, Chavez, Desrochers, Paul, Rindone, and
Rooney
NAYS:
Directors:
None
ABSENT.
Directors:
Lewis, McCann, Padilla
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
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ATTEST
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Dana M. Smith, Secretary
I, Dana M. Smith, Secretary of the Chula Vista Redevelopment Corporation of the City of Chula
Vista, California, do hereby certify that the foregoing CVRC Resolution No. 2006-033 was duly
passed, approved, and adopted by the Chula Vista Redevelopment Corporation at a regular
meeting of the Chula Vista Redevelopment Corporation held on the lOth day of August 2006.
Executed this lOth day of August 2006.
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Dana M. Smith, Secretary
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