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HomeMy WebLinkAboutRDA Reso 2008-1999 RDA RESOLUTION NO. 2008-1999 (City Council Resolution No. 2008-195) JOINT RESOLUTION OF THE CITY COUNCIL AND THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING AMENDMENT NO. 3 TO THE LETTER OF INTENT BETWEEN THE CITY OF CHULA VISTA, THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA, THE SAN DIEGO UNIFIED PORT DISTRICT, AND GAYLORD ENTERTAINMENT COMPANY EXTENDING THE TERM OF THE LETTER OF INTENT THROUGH DECEMBER 3 I, 2008, AUTHORIZING THE CITY MANAGERlEXECUTIVE DIRECTOR TO EXECUTE AMENDMENT NO. 3 TO THE LETTER OF INTENT ON BEHALF OF THE CITY AND THE REDEVELOPMENT AGENCY, AND AUTHORIZING THE CITY MANAGERlEXECUTIVE DIRECTOR TO APPROVE AND EXECUTE AN ADDITIONAL SIX-MONTH EXTENSION OF THE TERM OF THE LETTER OF INTENT THROUGH JUNE 30, 2009 ON BEHALF OF THE CITY AND THE REDEVELOPMENT AGENCY, IF NEEDED WHEREAS, the City Council and the Redevelopment Agency of the City of Chula Vista approved a Letter of Intent (LOI) between the City of Chula Vista, the Redevelopment Agency of the City of Chula Vista, the San Diego Unified Port District (Port), and Gaylord Entertainment Company (Gaylord) concerning Bayfront hotel, convention center, and ancillary development on July 25, 2006, pursuant to RDA Resolution No. 2006-1953 and City Council Resolution No. 2006-232; and WHEREAS, the City Council and the Redevelopment Agency of the City ofChula Vista approved an Addendum and reconsidered that approval to the Addendum, to the LOI on October 10,2006, pursuant to RDA Resolution No. 2006-1958 and City Council Resolution No. 2006- 307 and on November 7, 2006, pursuant to RDA Resolution No. 2006-1964 and City Council Resolution No. 2006-332, respectively; and WHEREAS, on May 15, 2007, the City Council and the Redevelopment Agency of the City of Chula Vista approved Amendment No. I to the Letter of Intent which allowed for the extension of the term of the LOI to November 30, 2007, pursuant to RDA resolution No. 2007- 1974 and City Council Resolution No. 2007-115; and WHEREAS, approval of Amendment No. I of the LOI also contemplated the possibility of an additional 90-day extension beyond November 30, 2007, if mutually agreed to by the parties; and RDA Resolution No. 2008-1999 Cily Council Resolution No. 2008-195 Page 2 WHEREAS, on December 4,2007, the City Council and the Redevelopment Agency of the City of Chula Vista approved a 90-day extension to the Lor extending the term of the Lor to February 28, 2008, pursuant to RDA resolution No. 2007-1985 and City Council Resolution No. 2007-286; and WHEREAS, the City Council and the Redevelopment Agency of the City of Chula Vista approved Amendment No.2 to the Letter of lntent which allowed for the extension of the term of the Lor to February 28, 2008 pursuant to RDA resolution No. 2008-1991 and City Council Resolution No. 2008-062; and WHEREAS, pursuant to that Resolution, the City Council and the Redevelopment Agency authorized the City Manager/Executive Director to approve and execute an additional 60-day extension of the term of the Letter ofIntent through July 30, 2008 on behalf of the City and the Redevelopment Agency; and WHEREAS, the City Manager/Executive Director executed an Agreement to Extend the Term of the July 25, 2006 Four-Party Letter ofIntent Until July 30, 2008, extending the term of the Letter of Intent to July 30, 2008; and WHEREAS, the parties to the Lor still agree on the fundamental goals and objectives set forth in the Lor, however, the parties require additional time to finalize the formal agreements contemplated in the Lor: and WHEREAS, staffis recommending that the term of the LOI be extended until December 31, 2008; and WHEREAS, staff is also recommending that the City Manager/Executive Director be authorized to approve and execute an additional six-month extension of the term of the LOI until June 30, 2009. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista and the Redevelopment Agency of the City of Chula Vista as follows: I. That it approves Amendment No. 3 to the Letter of Intent between the City of Chula Vista, the Redevelopment Agency of the City of Chula Vista, the San Diego Unified Port District, and Gaylord Entertainment Company extending the term of the Letter of lntent through December 31, 2008. 2. That it authorizes the City Manager/Executive Director to execute Amendment No.3 to the Letter ofIntent on behalf ofthe City and the Redevelopment Agency. 3. That it authorizes the City Manager/Executive Director to approve and execute an additional six-month extension of the term of the Letter ofIntent through June 30, 2009, on behalf of the City and the Redevelopment Agency, if needed. RDA Resolution No. 2008-1999 City Council Resolution No. 2008-195 Page 3 Presented by Approved as to form by Nt(:lf; ~ Denny Stone Economic Development Officer ~'1~~~\ Bart C. Miesfeld Interim City Attorney PASSED, APPROVED, and ADOPTED by the Redevelopment Agency and the City Council of the City ofChula Vista, California, this 22nd day of July 2008, by the following vote: AYES: Agency/Councilmembers: McCann, Ramirez, and Cox NAYS: Agency/Councilmembers: None ABSENT: Agency/Councilmembers: Rindone ABSTAIN: Agency/Councilmembers: Castaneda ATTEST: ff~~ Eric Crockett, Secretary STATE OF CALIFORNIA COUNTY OF SAN DIEGO CITY OF CHULA VISTA ) ) ) I, Eric Crockett, Secretary of the Redevelopment Agency of the City of Chula Vista, California, do hereby certify that the foregoing Redevelopment Agency Resolution No. 2008-1999/City Council Resolution No. 2008-195 was duly passed, approved, and adopted by the Redevelopment Agency and Chula Vista City Council at a regular meeting held on the 22nd day of July 2008. Executed this 22nd day of July 2008. _f? //fI/ Eric Crockett, Secretary L-.-