HomeMy WebLinkAboutResolution No. 91-R50RESOLUTION NO. 91 -RSO
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF AZUSA APPROVING OPERATING
MEMORANDUM NO. 6 TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND BETWEEN THE
AGENCY AND DEROSA CENTENNIAL ASSOCIATES.
WHEREAS, the Disposition and Development Agreement (DDA),
dated February 6, 1989, by and between the Redevelopment Agency
of the City of Azusa (Agency) and DeRosa Centennial Associates
(Developer) incorporated a Schedule of Performance; and
WHEREAS, the Schedule of Performance must be revised to
reflect the necessary actions remaining to be performed and their
sequence.
NOW, THEREFORE, the Redevelopment Agency of the City of
Azusa does hereby resolve as follows:
SECTION 1: The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby approves Operating Memorandum
No. 6 to the DDA by and between the Agency and DeRosa Centennial
Associates and authorizes the Agency Chairman to execute said
Operating Memorandum No. 6 on behalf of the Agency in
substantially the same form as attached hereto as "Exhibit A."
SECTION 2: The Agency Secretary shall certify the adoption
of this Resolution.
PASSED, APPROVED AND ADOPTED THIS 19th DAY OF August , 1991.
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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
19th day of August 1991 by the following vote of the
Directors:
AYES: DIRECTORS: DANGLEIS,
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: NONE
STEMRICH, NARANJO, ALEXANDER, MOSES
OPERATING MEMORANDUM NO. 6 TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND 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 and recorded as instrument No. 89-518299 on April 4,
1989, the Agency and Developer hereby enter into this Operating
Memorandum No. 6 to amend the above referenced DDA:
WHEREAS, Item 4 of the amended Schedule of Performance
contained in Operating Memorandum No. 5 to the DDA required the
Developer to provide the Agency evidence of construction
financing no later than May 15, 1991 and to commence construction
by May 31, 1991; and
WHEREAS, the Developer has been unable to obtain
construction financing; and
WHEREAS, the Agency desires to work with the Developer and
allow additional time to obtain construction financing and
commence construction.
NOW, THEREFORE, THE DISPOSITION AND DEVELOPMENT AGREEMENT IS
HEREBY MODIFIED AS FOLLOWS:
SECTION 1: The Schedule of Performance to the DDA is hereby
amended per the attached "Attachment B."
SECTION 2: All other terms and conditions of the DDA and
any prior Operating Memoranda shall remain unchanged unless
amended at a later date by both parties.
Approved by the City of Azusa Redevelopment Agency on the
19th day of August, 1991.
CITY OF AZUSA REDEVELOPMENT AGENCY
By: At
gene F. Moses, Chairman
DEROSA CENTENNIAL ASSOCIATES
By:
David M. Frank, Managing
General Partner
EXHIBIT A
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ATTACHMENT B
SCHEDULE OF PERFORMANCE
Dated: August 20, 1991
1. Final Construction Drawings.
Developer shall submit final con-
struction drawings and landscape
plans, permit applications and
fees, and such other construction
documents as may reasonably be
required by the Agency or City.
2. Approval of Final Construction
Drawings. The City and Agency
shall review and approve, condi-
tionally approve, or disapprove
final construction plans.
3. Conveyance of Title or Possessory
Interest. Agency shall deliver
possession and/or title to Devel-
oper in the condition required by
Section 2.7 of the Agreement.
4. Issuance of Building Permits.
Subject to fulfillment of all City
and Agency requirements for issu-
ance of a Building Permit, Devel-
oper shall pay fees and pull
building permit to commence con-
struction.
5. Evidence of Construction Financin
Developer shall submit firm evi-
dence of construction financing
sufficient to complete all improve-
ments on the Site.
0
Complete
Complete
Complete
Complete
By November 30, 1991
6. Commence Construction. Developer By December 31, 1991
shall commence, and diligently
prosecute construction of the
project and all public improvements
required by the City or Agency.
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ATTACHMENT B
SCHEDULE OF
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7. Complete Construction. Developer By August 31, 1992
shall complete all construction of
the on and off-site improvements
and shall apply to the City for a
Certificate of Occupancy and to the
Agency for a Certificate of
Completion.
8. City and Agency Review. The City Within thirty (30)
and Agency shall review the days of receipt of
appropriate certificates and the complete application
Developer's compliance with the
Agreement and
reject the application with
comments
approve the Certificate of
Occupancy
approve, execute, and record
the Certificates of Comple-
tion
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