HomeMy WebLinkAboutRDA Reso 1992-1228
AMENDED
RESOLUTION A 1228
RESOLUTION OF TIffi REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA APPROVING AMENDMENT NO. 1 TO THE SEMI-
EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AND
PACIFIC SCENE, INC. TO AUTHORIZE THE EXPENDITURE OF AN
ADDITIONAL $100,000 AS A LOAN FROM THE BA YFRONT TOWN
CENTRE I FUND TO TIffi SOUTHWEST. PROJECT FUND AND
APPROPRIATING FUNDS THEREFOR
WHEREAS, on or about June 4, 1991, the Agency entered into a Semi-Exclusive
Negotiating Agreement ("SENA") with Pacific Scene, for the development of the Palomar
Trolley Center Project on the south side of Palomar Street between Industrial Boulevard and
Broadway; and
WHEREAS, the SENA committed the Agency to expending not greater than
$150,000 in order to reimburse the Developer for certain designated processing costs associated
with processing the plans for the Expanded Shopping Center; and
WHEREAS, in conjunction with the approval of the SENA, the Agency
appropriated $250,000, $150,000 of which was designated to be used in associated with its
commitment under the SENA and $100,000 of which was to be used by the Agency for the in-
house costs of the planning and processing of the shopping center project; and
WHEREAS, the Agency desires to amend the SENA in order to increase the
amount of money it is willing to commit to pay for a portion of the Developer's planning and
processing costs; and
NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency of the
City of Chula Vista does hereby find, direct, order and resolve as follows:
Section 1. Amendment No.1 to the Semi-Exclusive Negotiating Agreement
between the Redevelopment Agency of the City of Chula Vista and Pacific Scene, Inc., a copy
of which is on file in the office of the City Clerk, is hereby approved and the Chairman is
hereby authorized to execute same.
Section 2. The Agency does hereby appropriate $100,000 from the
unappropriated balance in the Bayfront Town Centre I Fund as a loan to the Southwest Project
Fund to Account No. 986-9860-RD-222 for use by the Agency to meet its obligations under the
aforementioned Amendment No. 1.
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Section 2(a). Pacific Scene shall provide financial information satisfactory to the
Executive Director (City Manager's Office) prior to dispersement of funds.!
Section 3. That by this action, the Redevelopment Agency expresses no
commitment to the Expanded Shopping Center Project and reserves all rights and discretion it
otherwise has by law to evaluate, review, approve and/or reject said shopping center project at
such time as it is presented to the Agency for its approval.
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Presented by:
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as to form
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Bruce M. Boogaard
Agency Counsel
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Chris alomone, Executive Secretary and
Community Development Director
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A;\PACSCENA.R.ES
lAs Amended by Redevelopment Agency at its meeting of February
4, 1992.
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Resolution No. 1228A
ADOPTED AND APPROVED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, this 4th day of February 1992 by the following vote, to-wit:
AYES:
Members Malcolm, Moore, Nader, Grasser Horton, Rindone
NOES:
None
"ABSENT: None
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1 ABSTENTIONS: None
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ATTEST:
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Chns Salomone
Executive Secretary
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO) 55:
CITY OF CHULA VISTA)
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Tim Nader
Chairman
I, Chris Salomone, Executive Secretary to the Redevelopment Agency of the City of Chu1a
Vista, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy
of Resolution No. 1228A and that the same has not been amended or repealed.
Dated:
Chris Salomone
Executive Secretary