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HomeMy WebLinkAboutResolution No. 2580 0 RESOLUTION NO. 258 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA APPROVING THAT CERTAIN AGREEMENT ENTITLED "AMENDMENT NO. 1 TO 'AZUSA REDEVELOP- MENT AGENCY OWNER -PARTICIPATION AGREEMENT' BY AND BETWEEN THE AZUSA REDEVELOPMENT AGENCY AND MESSENGER/AZUSA" The Board of Directors of the Redevelopment Agency of the City of Azusa resolves as follows: SECTION 1. The Board of Directors of the Redevelopment Agency of the City of Azusa hereby finds that the "Amendment to Azusa Redevelopment Agency Owner -Participation Agreement' by and between the Azusa Redevelopment Agency and Messenger/Azusa" will contribute to the accomplishment of the Agency's goals in the West End Redevelopment Project Area and the goal of redeveloping the Site and hereby incorporates by reference the recitals set forth in paragraph 1 of the Agreement which is attached hereto. SECTION 2. The Board of Directors of the Redevelopment Agency of the City of Azusa hereby approves that certain agree- ment entitled "Amendment No. 1 to 'Azusa Redevelopment Agency Owner -Participation Agreement' by and between the Azusa Redevelop- ment Agency and Messenger/Azusa" and authorizes the Chairman of the Board of Directors to execute said amendment on behalf of the Agency in substantially the form as attached hereto as Exhibit "A." SECTION 3. The Secretary shall certify the adoption of this Resolution and shall cause the Agreement to be recorded promptly upon its execution by all parties thereto. PASSED, APPROVED AND ADOPTED this 15th day of April , 1986. Eu, e F. Moses, I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the Azusa Redevelopment Agency of the City of Azusa, at a regular meeting thereof held on the 15th day ofAril , 1986. AYES: BOARD MEMBERS NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: Adolp Solis, Secretary AVILA, COOK, CRUZ, LATTA, MOSES NONE NONE 0 0 Recorded at Request of and When Recorded Return To: Adolph Solis, Secretary Azusa Redevelopment Agency 213 E. Foothill Blvd. Azusa, CA 91702 AMENDMENT NO. 1 TO "AZUSA REDEVELOPMENT AGENCY OWNER -PARTICIPATION AGREEMENT" BY AND BETWEEN THE AZUSA REDEVELOPMENT AGENCY AND MESSENGER/AZUSA This Amendment to Agreement is made by and between the Azusa Redevelopment Agency, a redevelopment agency established pur- suant to the Community Redevelopment Law (Section 33000, et seq., of the Health & Safety Code of the State of California) hereinafter "Agency," and Messenger/Azusa, a California Limited Partnership, hereinafter "Participant," and shall be dated as of April 15, 1985. The parties hereto in consideration of their mutual covenants, conditions and agreements as set forth herein agree as follows: 1. This Agreement is made with respect to the following facts which each party recognizes as true: A. On October 1, 1984, the parties hereto entered into that certain agreement entitled "Azusa Redevelopment Agency Owner -Participation Agreement" (hereinafter "Agreement") by which Participant agreed to redevelop certain real property defined in the Agreement (herein- after "Site"), and Agency agreed to assist Participant with certain improvements of the Site. Said Agreement was recorded by the parties on April 11, 1985, as Document No. 85 405826 in the records of Los Angeles County. B. Pursuant to the provisions set forth in Exhibit A to the Agreement, the Agency agreed to assist the Partici- pant with the construction and installation of certain public improvements on and near the Site as set forth in Paragraphs B and C of Exhibit A. C. Agency has installed the 16 -inch water line described in said Exhibit A at a cost of $152,406.89. D. Pursuant to the terms of Exhibit A, the Agency is obligated to pay the difference between its $450,000 maximum contribution and the said cost of installing the water line at the initiation of construction of Phase II of the development. The difference between the Agency's maximum contribution and the cost of the water line is $297,593.11. 0 0 E. Participant has requested and Agency agrees to pay the amount of the difference, $297,593.11, to the Participant at this time so as to better assist the Participant with public improvements for the Site and to better facilitate and expedite the accomplishment of the Agency's goals with respect to the accomplishment of this project, redevelopment of the project area with a project such as this, encouragement of employment in the area, and the upgrading of public improvements in and around the Site, and the encouragement of further redevelopment in and around the Site by a successful project. 2. The parties hereto agree that Paragraph C of Exhibit A to the Agreement shall be amended to read as.follows: "C. Method of Payment - Agency Assistance in Public Improvements "(1) AGENCY shall be responsible for the installation of a 16 -inch water main as hereinbefore described. Said installation is estimated to cost $200,000. The AGENCY shall bear all costs associated with said installation except that the engineering plans shall be prepared by PARTICIPANT. 11(2) AGENCY hereby agrees to reimburse PARTICIPANT for the costs associated with the widening and improvement of Eighth Street extending from Vernon to Loren Avenues. AGENCY shall pay PARTICIPANT the difference between the total sum for public improvement assistance ($450,000) and the actual cost for construction of the water improvements described above (estimated at $200,000). The parties hereto further agree that AGENCY'S actual expense to install the 16 -inch water line was $152,406.89, leaving a difference due PARTICIPANT from the AGENCY pursuant to this Agreement of $297,593.11. Said difference shall be paid by AGENCY to PARTICIPANT on or before May 2, 1986. Upon receipt by PARTICIPANT of said amount, AGENCY'S obligation to contribute to or construct public improvements upon the Site pursuant to this Agreement shall be discharged." 3. Except as expressly provided herein, all terms and condi- tions of said Agreement shall remain in full force and effect. 4. This Amendment to the Agreement shall be recorded and shall run with the land and be binding upon the heirs, successors and assigns of the parties. -2- 0 0 WHEREFORE, the parties hereto have caused this Agreement to be executed as follows: AZUSA REDEVELOPMENT AGENCY Eugen F. Moses, Chairman ATTEST: By Adolph §.6lis, Secretary APPROVED AS TO FORM: BY �,/4 A --Peter M. Thorson Agency General Counsel MESSENGER/AZUSA By William Messenger, Jr. General Partner -3-