HomeMy WebLinkAboutCVRC Reso 2009-004CVRC RESOLUTION NO. 2009-004
RESOLUTION OF THE CHULA VISTA REDEVELOPMENT
CORPORATION RECOMMENDING THAT THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA ADOPT 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 Amendmenf') 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 pazking 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
squaze feet in a five story office tower at the easterly portion of the Site, Phase 11 includes
132,334 squaze 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 complete the 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, 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 necessary; and
WHEREAS, the Chula Vista Redevelopment Corporation has considered and reviewed
all testimony and information provided at the public meeting regazding the same.
CVRC Resolution No. ?009-004
Page 2
NOW, THEREFORE. BE IT RESOLVED that the Chula Vista Redevelopment
Corporation does hereby recommend that the Redevelopment Agency of the City of Chula Vista
adopt the Seventh Amendment to the Gateway Chula Vista Disposition and Development
.Agreement in the form presented.
BE TT FURTHER RESOLVED THAT a copy of this Resolution be transmitted to the
Redevelopment Agency.
Presented by:
Sandoval
Chief Executive Officer
PASSED, APPROVED, and ADOPTED by the Chula Vista Redevelopment Corporation
of the City of Chula Vista, this 1 lth day of June ?009, by the following vote:
AYES:
NAYS:
ABSENT:
ABSTAIN:
ATTEST:
Directors: Desrochers, Flores, Munoz, Paul, Reyes, Salas, and Lewis
Directors: None
Directors: None
Directors: None
!-
Eric C. Crockett, Secretary
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
~~~~. VlBTq~
G
~, CVRC
m 0611 512 0 0 5
j aGC~' ~~'°~ocx'.;°°~Q~O4Q
~Gr',~;;,r,~~ ~~i
d nnrnvcrl ac to fnrm by
CVRC Resolution No. 2009-004
Page 3
I, Eric C. Crockett, Secretary of the Chula Vista Redevelopment Corporation of the City of
Chula Vista, California, do hereby certify that the foregoing CVRC Resolution No. 2009-004
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 11th day of June
2009.
Executed this I 1 th day of June 2009.
~~~
Eric C. Crockett, Secretary