HomeMy WebLinkAboutRDA Reso 2009-2009RDA RESOLUTION N0.2009-2009
RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF CHULA VISTA ADOPTING THE SEVENTH
AMENDMENT TO THE GATEWAY CHULA VISTA
DISPOSITION AND DEVELOPMENT AGREEMENT (DDA)
WHEREAS, the Redevelopment Agency and the Developer (Gateway Chula Vista LLC)
aze parties to that certain Disposition and Development Agreement (DDA) dated June 6, 2000, as
amended by that certain First Amendment to DDA (First Amendment) dated September 25,
2001, as further amended by that certain Second Amendment to DDA (Second Amendment)
dated December 17, 2001, as administratively amended by that certain Third Amendment to
DDA (Third Amendment) dated April 1, 2002, by that certain Fourth Amendment to the DDA
(Fourth Amendment) dated April 1, 2003, by that certain Fifth Amendment to the DDA (Fifth
Amendment) dated November 18, 2003, and by that certain Sixth Amendment to the DDA (Sixth
Amendment) dated February 17, 2004. The DDA, First Amendment, Second Amendment, Third
Amendment, Fourth Amendment, Fifth Amendment and the Sixth Amendment are collectively
referred to herein as the DDA; and
WHEREAS, the DDA relates to the development and operation of a phased First Class
First Quality mixed-use commercial/office project with restaurant and retail components and
common areas of up to 385,089 square foot, including afive-tier 1300 space parking structure
that spans all Phases of the Project; specifically the retail component will include up to 81,000
square feet with restaurants, financial institutions and other retail uses. Phase I includes 102,329
square feet in a five story office tower at the easterly portion of the Site, Phase II includes
132,334 square feet in a six story office tower, and Phase III will include 150,426 square feet in a
six story office tower at the westerly portion (Project); and
WHEREAS, timing of construction of the Project's Phase III Improvements has been
delayed as a result of unfavorable overall market conditions and the effects of the recession on
financial lending institutions. As a result, pursuant to Section 701.1 (d) of the DDA, Developer
has requested an extension of time to commence and complete construction of Phase III, and
renegotiate the amount and timing of the Agency Participation and one or more terms and
provisions of the DDA; and
WHEREAS, Agency is willing to adjust Developer's Schedule of Performance for
commencement and completion of the Phase III construction subject to the terms and conditions
set forth in the Seventh Amendment to the Gateway DDA; and
WHEREAS, Agency and Developer acknowledge that there may be a financial GAP in
the development of Gateway Phase III and, notwithstanding section 801 of the DDA, agree to
negotiate in good faith in identifying the amount of the GAP that the Agency may consider
funding and the timing of any Agency Participation, pursuant to Section 800 of the DDA; and
RDA Resolution No. 2009-2009
Page 2
WHEREAS, the Environmental Review Coordinator has reviewed the proposed action
for compliance with the California Environmental Quality Act (CEQA) and has determined that
the proposed action is adequately covered in previously adopted Mitigated Negative Declaration
IS-99-24. Thus, no further environmental review or documentation is necessazy.
NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency of the City of
Chula Vista does hereby approve the Seventh Amendment to the Gateway Chula Vista
Disposition and Development Agreement (DDA) in the form presented.
BE IT FURTHER RESOLVED, that the Chairperson is authorized and directed to
execute final forms of the Seventh Amendment, and Agency staff is authorized and directed to
take all reasonable actions necessary to implement the same.
Presented by
azy Ibert A
Deputy City anager/Development
Services Director
Approved as to form by
~~ ~ j ~
B C. Miesfe
gency Co sel
RDA Resolution No. 2009-2009
Page 3
PASSED, APPROVED, and ADOPTED by the Redevelopment Agency of the City of
Chula Vista, California, this 23rd day of June 2009, by the following vote:
AYES: Agency Members: Bensoussan, Castaneda, McCann, Ramirez, and Cox
NAYS: Agency Members: None
ABSENT: Agency Members: None
G
Cheryl Cox, ' lair erson
ATTEST:
!- / l~
Eric Crockett, Secretary
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
I, Eric Crockett, Secretary of the Chula Vista Redevelopment Agency, do hereby certify that the
foregoing RDA Resolution No. 2009-2009 was duly passed, approved, and adopted by the
Redevelopment Agency at a regular meeting held on the 23rd day of June 2009.
Executed this 23rd day of June 2009.
/- /
Eric Crockett, Secretary