HomeMy WebLinkAboutCVRC Reso 2008-003
CVRC RESOLUTION NO. 2008-003
RESOLUTION OF THE CHULA VISTA REDEVELOPMENT
CORPORATION RECOMMENDING APPROV AL OF A
CONTRACTUAL RELATIONSHIP WITH ECONOMIC AND
PLANNING SYSTEMS, INe.
WHEREAS, the Redevelopment Agency of the City of Chula Vista (Agency) and
Economic and Planning Systems, Inc. (EPS) entered into an Agreement dated June 28, 2005
(Original Agreement) where EPS agreed to provide independent economic advice in support of
future dealings regarding economic and fiscal relationships among the City, the Agency, the San
Diego Unified Port District (Port), prospective lessees of Port-controlled lands, and private
owners of property within the Bayfront Master Plan area; and
WHEREAS, the City and EPS entered into the First Amendment to the Original
Agreement dated January 10, 2006, where EPS agreed to develop a Fiscal Impact Model to
analyze the fiscal impacts of new development within the Bayfront Master Plan area; and
WHEREAS, the Agency and the City are in negotiations with Gaylord Entertainment
Company (Gaylord) for the proposed development of a hotel and convention center in the
Bayfront Redevelopment Project Area; and
WHEREAS, the Agency and EPS entered into a Second Amendment to the Original
Agreement dated March 8, 2007, where EPS agreed to analyze the financial feasibility of the
proposed Gaylord development using its Fiscal Impact Model, to conduct a peer review on the
Economic Research Associates fiscal model and pro forma, and to analyze development
proposals in the other Redevelopment project areas; and
WHEREAS, the Original Agreement, including the amendments, expired on December
31, 2007; and
WHEREAS, to further the negotiations with Gaylord, staff recommends that EPS again
assist statT by analyzing the financial feasibility of the proposed Gaylord development using its
Fiscal Impact Model; and
WHEREAS, staff is currently negotiating an agreement between the Agency and EPS.
NOW, THEREFORE, BE IT RESOLVED by the Chula Vista Redevelopment
Corporation that it recommends the approval of a contractual relationship with Economic and
Planning Systems, Inc.
Presented by
Approved as to form by
Maria achadoorian
Finan e Director
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CVRC Resolution No. 2008-003
Page 2
PASSED, APPROVED, and ADOPTED by the Chula Vista Redevelopment Corporation
of the City ofChula Vista, this 22nd day of May 2008, by the following vote:
AYES:
Directors: Desrochers, Munoz, Rooney, and Lewis
NAYS:
Directors: None
ABSENT:
Directors: Paul, Reyes, Salas
ABSTAINED: Directors: None
ATTEST:
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I, Eric Crockett, Secretary of the Chula Vista Redevelopment Co. City of Chula
Vista, California, do hereby certify that the foregoing CVRC Resolution o. 2008-003 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 22nd day of May 2008.
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
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Eric C. Crockett, Secretary
Executed this 22nd day of May 2008.
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Eric C. Crockett, Secretary