HomeMy WebLinkAboutResolution No. 7270 0
RESOLUTION NO. 727
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING OPERATING MEMORANDUM NO. 1 TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT BY AND
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY
OF AZUSA AND DEROSA CENTENNIAL ASSOCIATES
WHEREAS, on the 6th day of February, 1989, the Agency and
DeRosa Centennial Associates ("Developer") entered into a
Disposition and Development Agreement ("DDA") for the Centennial
Square Project; and
WHEREAS, said DDA and the Schedule of Performance to the DDA
allow the Developer to terminate the DDA if the Agency does not
convey the project site to the Developer by August 31, 1990; and
WHEREAS, the Agency has been working in good faith to
resolve soils and title problems with the property prior to the
August 31, 1990 deadline to convey the property, but said soil
and title problems may not be able to be resolved in time to meet
the August 31, 1990 deadline to convey the site to the Developer;
and
WHEREAS, the Developer has agreed to allow the Agency more
time, until December 31, 1990, to convey the project site in
order to resolve said soil and title problems prior to conveyance
of the site; and
WHEREAS, the Developer and Agency have agreed to change the
Scope of Development in the DDA to allow all retail uses in the
site instead of a mixture of retail/office uses.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AS FOLLOWS:
SECTION 1. The Board of Directors of the Redevelopment Agency
of the City of Azusa hereby approves Operating Memorandum No. 1
to the DDA, dated August 6, 1990, incorporating said changes to
the DDA, and authorizes the Chairman to execute said Operating
Memorandum No. 1 to the DDA on behalf of the Agency in
substantially the same form as attached hereto as "Exhibit A."
SECTION 2. The Secretary shall certify the adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED this 6th day of August, 1990.
Chaff man ,
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Board of Directors of the Redevelopment Agency of
the City of Azusa, at a regular meeting thereof, held on the 6th
day of August, 1990 by the following vote of the Directors:
AYES: DIRECTORS: STEMRICH, NARANJO, ALEXANDER, MOSES
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: DANGLEIS
Secretary
Operating Memorandum No. 1
To DDA Between Agency and
DeRosa Centennial Associates
Page 2
as early as possible after written clearance can be obtained from
the appropriate regulatory agencies in regard to the two sites of
soil contamination in the project site.
SECTION 3: All other terms and conditions of the DDA shall
remain unchanged unless amended at a later date by both parties.
Approved by the City of Azusa Redevelopment Agency on the
6th day of August, 1990.
CITY OF AZDSA REDEVELOPMENT AGENCY
By:
gene F. Moses, Chairman
DEROSA CENTENNIAL ASSOCIATES
By:
James A. DeRosa
By:
Adolph Solis, Secretry
EXHIBIT A
PAGE 2
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OPERATING MEMORANDUM NO. 1 TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE CITY OF AZUSA REDEVELOPMENT AGENCY
AND DEROSA CENTENNIAL ASSOCIATES
In accordance with Section 7.7 C. of the Disposition and
Development Agreement (hereinafter "DDA") by and between the City
of Azusa Redevelopment Agency (hereinafter "Agency) and DeRosa
Centennial Associates (hereinafter "Developer"), dated February
6, 1989, the Agency and Developer hereby enter into this
Operating Memorandum No. 1 to amend the referenced DDA:
WHEREAS, Exhibit No. 5 ("Scope of Development") to the DDA
requires the Developer to construct approximately 52,000 square
feet of commercial space, consisting of 30,000 square feet of
single -story retail space and a two-story 22,000 -square -foot
office building; and
WHEREAS, the Agency and Developer have agreed to eliminate
the office use from the site and to expand the retail use, and:
WHEREAS, Both parties to the DDA have been working in good
faith to fulfill their obligations under the DDA in a timely
manner, but soils contamination on the project site may delay the
timely conveyance of the site to the Developer.
NOW, THEREFORE, THE DISPOSITION AND DEVELOPMENT AGREEMENT IS
HEREBY MODIFIED AS FOLLOWS:
SECTION 1: Exhibit No. 5 to the DDA is hereby amended so
that the Developer shall develop or cause to be developed
approximately 43,469 square feet of single -story retail space and
to provide a minimum of 174 on-site parking spaces, or a number
of on-site parking spaces as may be approved by the City of Azusa
Planning Department.
SECTION 2: Section 6.7 A-1 of the DDA and Section B.8 of
Exhibit No. 3 to the DDA (Schedule of Performance) are hereby
amended to allow the Agency until December 31, 1990 to convey
title and possession of the project site to the Developer, and
to require the Developer to accept said conveyance of the site if
conveyed prior to December 31, 1990. It is understood by both
parties that the Agency will make every effort to convey the site
EXHIBIT A
PAGE 1