HomeMy WebLinkAboutResolution No. 4350 0
RESOLUTION NO. 435
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZIISA
APPROVING THAT CERTAIN AGREEMENT ENTITLED
"FIRST AMENDMENT TO THE EXCLUSIVE NEGOTIATION
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF AZIISA AND NATHAN KREMS
AND THE LOS ANGELES LAND COMPANY"
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA HEREBY RESOLVES AS FOLLOWS:
SECTION 1. The Board of Directors of the Redevelopment
Agency of the City of Azusa does hereby find, determine and
declare that:
A. The City of Azusa and the Redevelopment Agency of the
City of Azusa have adopted a redevelopment plan for the Central
Business District Redevelopment Project Area by which the City
and the Agency seek to redevelop the Project Area;
B. The First Amendment to the Agreement approved by this
Resolution is necessary to effectuate and implement the
Redevelopment Plan and to redevelop the Site and the Project Area
in accordance with the adopted Rules Governing Owner
Participation for the Central Business District Redevelopment
Project Area.
SECTION 2. The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby approves that certain
agreement entitled "First Amendment to the Exclusive Negotiation
Agreement by and between the Redevelopment Agency of the City of
Azusa and Nathan Krems and Los Angeles Land Company" dated as of
February 1, 1988 and hereby authorizes the Chairman to execute
said Amendment on behalf of the Agency in substantially the form
as is attached hereto as Exhibit "A".
SECTION 3. The Secretary shall certify the adoption of
this Resolution.
PASSED, APPROVED AND ADOPTED this 16th day of February
1988.
rman
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 lFth day of February , 1988.
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
AVILA, COOK; CRUZ, LATTA, MOSES
NONE
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FIRST AMENDMENT TO
EXCLUSIVE NEGOTIATION AGREEMENT
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA AND NATHAN KREMS AND LOS ANGELES LAND COMPANY
This First Amendment to the Exclusive Negotiation Agreement
between the Redevelopment Agency of the City of Azusa and Nathan
Krems and Los Angeles Development Company dated October 19, 1987
shall be effective as of February 1, 1988:
Section 102, Period of Negotiations, is amended to read as
follows:
B. [51023 Period of Negotiations
The Agency agrees to negotiate with the Developer until
March 30, 1988. If by March 30, 1988, the Developer has not
signed and submitted an owner participation agreement to the
Agency., then this Negotiation Agreement shall automatically
terminate unless the negotiation period has been mutually
extended by the Agency and the Developer. If the Developer
submits an owner participation agreement by March 30, 1988,
or by any mutually agreed upon deadline extension, the
Agency shall have sixty (60) days thereafter to consider the
owner participation agreement. This Exclusive Negotiation
Agreement shall remain in effect until sixty days after
receipt of the owner participation agreement or until the
Agency acts upon said agreement. The parties hereto may
mutually terminate this Agreement at any time by written
agreement.
Dated February 16 , 1988
By
ugene F. Moses, Chairman
Los Angeles Land Company
Dated f-aP- 4A 1988 By
Dated , 1988 By
Nathan Krems