Loading...
HomeMy WebLinkAboutReso 1988-13889 RESOLUTION NO. 13889 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE AGREEMENT WITH GIRARD FINANCIAL FOR POSTING FUNDS IN LIEU OF RIGHT-OF-WAY DEDICATION FOR OTAY VALLEY ROAD The City Council of the City of Chula Vista does hereby resolve as follows: WHEREAS, on November 17, 1988, the Redevelopment Agency of the City of Chula Vista adopted an alignment for Otay Valley Road between the Animal Shelter and the Nirvana intersection subject to further environmental review; and, WHEREAS, that alignment requires shifting the existing centerline to the south, which accommodates the approved Girard Financial site plan on the triangular-shaped property north of the roadway; and, WHEREAS, Girard Financial would like to post funds for the acquisition of additional right-of-way south of Otay Valley Road to satisfy the dedication requirement included in their Tentative Parcel Map approval. NOW, THEREFORE, BE IT RESOLVED that the City Council hereby authorizes the agreement with Girard Financial for posting funds in lieu of right-of-way dedication for Otay Valley Road. BE IT FURTHER RESOLVED that the Mayor is hereby authorized and directed to execute the agreement, attached as Attachment A, and incorporated as though fully set forth between the City, the Redevelopment Agency, and Girard Financial Presente_d y Approved as to form by Community Development Director ' It o ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF C, _A VISTA, CALIFORNIA, this 13th day of December 19 88 , by the following vote, to-~vit: AYES: Councilmembers Moore, McCandliss, Nader NAYES: Counci 1 members None ABSTAIN: Councilmembers None ABSENT: Councilmembers Cox, Malcolm ~/~o~ Chula Vista ATTEST ~lerk~' ~ S -' OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ss. CITY OF CHULA VISTA ) I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION N0. 13889 ,and that the same has not been amended or repealed DATED City Clerk CC-660 ~GREEMENT This AGREEMENT is made and executed as of this 19th day of January , 1989, by and between the CITY OF CHULA VISTA, a municipal corporation ("City"), CHULA VISTA REDEVELOP- MENT AGENCY, a body, corporate and politic agency ("Agency") and GRARD FINANCIAL CORPORATION, a California corporation ("Girard") as to the following: RECITALS A. Girard is the owner of property located at the north west corner of Maxwell Road and Otay Valley Road within the Otay Valley Redevelopment Project Area of the City. B. Tentative Parcel Map No. 86-25 ("Map") was approved by City on August 11, 1986, and a one year extension of the Map was granted by the City on August 3, 1988 for the development of an industrial park commonly known as "Triad Center". C. The City intends to design Otay Valley Road, which runs along the southerly side of Triad Center, as a prime arterial six-lane road with a one hundred twenty-eight foot (128') right- of-way. D. The alignment of the Otay Valley Road will be in accordance with the Map prepared by the City, attached hereto as Exhibit "A" and incorporated herein by this reference. NOW, THEREFORE, the parties, incorporating the foregoing Recitals, hereby agree as follows: 1. DEFINITIONS. 1.1 Unless the context otherwise indicates the following shall have the meanings as set forth below: 1.1.1 "Funds" shall mean the sum of one hundred thousand dollars ($100,000.00) delivered by Girard to the City pursuant to this Agreement. 1.1.2 "Expiration Date" of this Agreement shall be December 31, 1994. 12/o6/88 -1- 1.1.3 "Property" shall mean that certain real property generally described on Exhibit "B" attached hereto and incorporated in this Agreement by reference, which comprises approximately 29,328 square feet of property located to the south of the alignment of Otay Valley Road as of the date of execution of this Agreement, in the vicinity of Triad Center. 2. PROPERTY. 2.1 The City shall use its reasonable best efforts to obtain fee title to the Property or a right of way easement (herein referred to collectively as "Rights to the Property") by purchasing the Rights to the Property for fair market value as determined by a qualified appraiser chosen by the City, or through condemnation proceedings, provided the City can make the required findings of public necessity. 2.2 Should the City not obtain Rights to the Property or not obtain an order of immediate possession of the Property by a court of competent jurisdiction prior to the Expiration Date it will return the Funds, including the interest earned to Girard within five (5) days after the Expiration Date. 3. FUNDS. 3.1 Girard shall deliver the Funds to the City within thirty (30) days of execution of this Agreement. 3.2 The City will deposit the Funds in an interest bearing account of a federally insured bank. All interest earned from the deposit will become a part of the Funds used for ob- taining Rights to the Property by the City. 3.3 Girard shall not be required to pay any additional money to the Agency or City, should the cost of obtaining Rights to the Property exceed the Funds deposited and the interest earned thereon. 4. REFUND. 4.1 The City shall deduct the cost of obtaining Rights to the Property from the Funds including Girard's pro rata share of the attorney's fees, if any, the City may be required to pay to the owners of record of the Property and the cost of the City's attorney's fees for obtaining Rights to the Property. 4.2 The City will return the remainder of the Funds including the interest earned within thirty (30) days of the City obtaining Rights to the Property along with an itemized accounting of all costs deducted from the Funds. ~2/06/88 -2- 5. ~SSESSMENT DISTRICTS. 5.1 If an Assessment District is formed for the Otay Valley Road alignment, the total cost of obtaining Rights to the Property deducted from the Funds will be considered in the assessment charged Girard. 6. MAP CONDITION. 6.1 Upon the deposit of funds with the City, Girard shall be in compliance with condition B(8) of the Map which provides that Girard shall be responsible for dedicating addi- tional right of way to the City if the ultimate center line of Otay Valley Road needs to be shifted in the northerly direction as a result of the study by the City. 7. ASSIGNMENT. 7.1 Girard may assign to any person(s) all of the rights in this Agreement; however, the right may be exercised only by written assignment executed by Girard and accepted in writing by the assignee (which must, in such written acceptance, obligate assignee to perform the assignor's obligations under this Agreement). The City and Agency shall be given thirty (30) days written notice of Girard's assignment of the rights in this Agreement. CITY OF CHULA VISTA, a mun a By: APPROVED AS TO FORM: =. Z MEN AGENCY CHULA VI DEVE~ By: ,. D~ 12/o6/se -3- GIRARD FINANCIAL CORPORATION, a Ca .fornia~r~oration l 12/06/88 -4-