HomeMy WebLinkAboutResolution No. 10-R10RESOLUTION NO. 10-R10
A RESOLUTION OF THE GOVERNING BOARD OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA,
CALIFORNIA, APPROVING THE TERMINATION OF THE SECOND
EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY AND LEWIS INVESTMENT COMPANY
AND RATIFYING..THE ASSIGNMENT AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY AND LEWIS INVESTMENT COMPANY
WHEREAS, pursuant to the California Community Redevelopment Law (Health &
Safety Code Sections 33000, et seq.) ("CRL"), the City Council of the City of Azusa ("City")
("City Council") approved and adopted a Redevelopment Plan ("Redevelopment Plan") for the
redevelopment Project Area known as the Merged Central Business District and West End
Redevelopment Project Area ("Project Area"); and
WHEREAS, the Governing Board (`Board") of the Redevelopment Agency of the City
of Azusa ("Agency") is engaged in activities to implement the Redevelopment Plan for the
Project Area pursuant to the provisions of the CRL; and
WHEREAS, the Board approved an Exclusive Negotiation Agreement ("Original
Agreement") by and between the Agency and Lewis Development ("Developer") on February
17, 2009;
WHEREAS, the Board approved that certain First Amendment to the Original Agreement
("First Amendment") which was intended to, among other things, extend the time for
performance by Developer and provide Agency with a first right of refusal to acquire certain
parcels from Developer; and
WHEREAS, Developer never executed that First Amendment; and
WHEREAS, on December 21, 2009, the Agency adopted Resolution 09-R65 rescinding
its action of September 8, 2009 approving the First Amendment. The Agency then approved a
Second Exclusive Negotiation Agreement with the Developer to provide Developer with the
opportunity to secure a supermarket tenant for the proposed project; and
WHEREAS, on January 21, 2010 Developer met with representatives of the City and
informed the City they were unable to proceed with the proposed project at this time; and
WHERAS, Developer and Agency agree that it is appropriate to terminate the Second
Exclusive Negotiation Agreement; and
WHEREAS, in furtherance of the proposed project, Developer had committed to the
acquisition of the O'Bryant parcel; and
WHEREAS, the Agency would like to acquire the Developer's interest in the O'Bryant
Parcels.
ORANGETRULU64961.2 1
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the
Redevelopment Agency of the City of Azusa as follows:
Section 1. The Board hereby approves the termination of the Second Exclusive
Negotiation Agreement and authorizes the Executive Director to take all actions and enter into
any agreements necessary to accomplish this action.
Section 2. The Board hereby ratifies the Assignment Agreement between the Agency
and Developer for the acquisition of the O'Bryant parcel, attached hereto and incorporated herein
by reference, together with non -substantive changes and amendments as may be approved by the
Executive Director and the Agency Attorney.
Section 3. The Board hereby authorizes and directs the Executive Director and the
Agency Attorney to take any action and execute the actions identified herein.
Section 4. The Agency Secretary shall certify to the passage and adoption of this
resolution and the same shall thereupon take effect and be in force immediately upon its
adoption.
APPROVED AND ADOPTED this 16th day of February, 2010.
/Josephl'R. Rocha, Chairman
ATTES
Vera Mendoza, Secretary
I HEREBY CERTIFY that the foregoing resolution No. 10 -RIO was duly adopted by
the Redevelopment Agency of the City of Azusa at a regular meeting held on the 16th day of
February, 2010, by the following vote of the Agency:
AYES:
AGENCY MEMBERS:
GONZALES, CARRILLO, MACIAS, HANKS, ROCHA
NOES:
AGENCY MEMBERS:
NONE
ABSTAIN:
AGENCY MEMBERS:
NONE
ABSENT:
AGENCY MEMBERS:
NONE
Vera Mendoza, Secretary
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