HomeMy WebLinkAboutResolution No. 97-R430 0
RESOLUTION NO. 97—R43
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING THE A SETTLEMENT AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AND PAM HENRY, DOING
BUSINESS AS LIBERTY CANDLE FOR THE PROPERTY LOCATED AT 630-632
NORTH AZUSA AVENUE..
THE BOARD OF DIRECTORS OF 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 finds, determines and declares that:
A. The Redevelopment Agency of the City of Azusa ("Agency") is engaged in
activities necessary to execute and implement the Redevelopment Plan for the Central Business
District Redevelopment Project ("Project"); and
B. In order to implement the Redevelopment Plan, the Agency leased certain real
property at 630-632 North Azusa Avenue ("Property) in the Project owned by the Agency to
Liberty Candle ("Tenant"), pursuant to the terms and provisions of a certain Lease Agreement
dated June 20, 1995, and as amended by the First Amendment dated March 21, 1996,
("Agreement"); and
C. On or about April 18, 1997, the Property was damaged due to a fire caused by the
activities engaged by Tenant, a casualty which was covered by the Tenant's insurance coverages
naming the Agency as a beneficiary procured in accord with the Agreement; and
D. The Agency and Tenant have negotiated the terms of the attached Settlement
Agreement to resolve the issues with respect to the restoration of the Property, the application of
insurance proceeds to the Property, and other related issues regarding the continuance of the
Agreement; and
E. The proposed Settlement Agreement contains all the provisions, terms,
conditions, and obligations required by state and local law and is intended by the parties to serve
as full and complete settlement of all claims between the parties;
F. The proposed Settlement Agreement effectively modifies the terms of the
Agreement and the combined Agreement and Settlement Agreement shall be construed as
hereafter governing the relationship between the parties;
NOW THEREFORE BE IT RESOLVED AS FOLLOWS:
SECTION 1. The Agency hereby finds and determines that the proposed Agreement is
consistent with the Redevelopment Plan for the Central Business District Redevelopment Project
Area and is a fair settlement of disputed claims between the parties.
SECTION 2. The Chairman is hereby authorized to execute said Agreement on behalf of
the Agency.
SECTION 3. The Secretary shall certify to the passage and adoption of this Resolution
and the same shall thereupon take effect and be in force.
PASSED, APPROVED AND ADOPTED this 2nd day of September
1997.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by Board of
Directors of the Redevelopment Agency of the City of Azusa, at a regular meeting thereof, held
on the 2nd day of September 1997, by the following vote of the Board:
AYES: BOARDMEMBERS: HARDISON, STANFORD, ROCHA, BEEBE, MADRID
NOES: BOARDMEMBERS: NONE
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