HomeMy WebLinkAboutResolution No. 10-R32RESOLUTION NO. 10-R32
A RESOLUTION OF THE GOVERNING BOARD OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA,
CALIFORNIA, APPROVING AN OPERATING COVENANT
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA AND APPLE SOCAL,
LLC FOR THE LONG TERM OPERATION OF A FAMILY
STYLE RESTAURANT
WHEREAS, the Redevelopment Agency of the City of Azusa ("Agency") is engaged in
activities necessary to execute and implement the redevelopment plan ("Redevelopment Plan")
for the Agency's Merged Central Business District Redevelopment Plan and Project Area
("Project Area") pursuant to the provisions of the California Community Redevelopment Law
(Health & Safety Code Sections 33000 et seq.) ("CRL") and the Redevelopment Plan; and
WHEREAS, APPLE SOCAL, LLC, a Delaware limited liability company ("Owner")
entered into a lease with Citrus Crossing Properties Fee LLC, a Delaware limited liability
company, dated July 16th, 2010, and plans to build and construct a one story Applebee's
restaurant containing approximately five thousand seven hundred (5,700) square feet of floor
area in a certain commercial development ("Project") constructed on real property located in the
City and owned by Citrus Crossing Properties Fee LLC ("Property"); and
WHEREAS, the Agency and Owner now desire to provide for the long-term operation
and maintenance of the Project by the Owner in this Agreement; and
WHEREAS, the Owner has requested financial assistance from the Agency in an amount
of approximately Two Hundred Thousand Dollars ($200,000) ("Covenant Purchase Price"), and
in consideration for the Covenant Purchase Price, the Owner has agreed to operate and maintain
the Project within the City for a period of five (5) years; and
WHEREAS, the Agency has determined that this Agreement will further the Agency's
activities in redeveloping the Project Area by:
1. Assisting with business development and tourism in the redevelopment
project area; and
2. Creating job opportunities for City residents; and
3. Generating tax revenue to the Agency that will assist the Agency in
providing additional redevelopment in the Project Area; and
4. Preserving property within the Project Area; and
5. Providing for future improvements within the Project Area.
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the Redevelopment
Agency of the City of Azusa as follows:
45636.00000\5592093.1
Section 1. The Board hereby approves the Operating Covenant Agreement (Apple Socal)
in substantially final form, attached hereto and incorporated herein by reference, together
with minor changes and amendments, which are consistent with the direction of the Board
and the intent of the Agreement as presented, as may be approved by the Executive
Director and the Agency Attorney.
Section 2. The Board hereby authorizes and directs the Executive Director and the
Agency Attorney to take any action and execute any documents necessary to implement
the Operating Covenant Agreement.
Section 3. The Board hereby finds and determines that it can be seen with certainty that
adoption of the Resolution approving the Operating Covenant Agreement with Apple SoCal
LLC will not have a significant adverse effect on the environment. Thus, the adoption of this
Resolution is exempt from the requirements of the California Environmental Quality Act
("CEQA") pursuant to Sections 15061(b)(3) of the CEQA Guidelines. Staff is directed to file
a Notice of Exemption with the Los Angeles County Recorder's Office within five (5)
working days of adoption of this Resolution.
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 18TH day of October, 2010
AYES:
COUNCIL. MEMBERS: GONZALES, CARRILLO, HANKS, MACIAS, ROCHA
NOES:
COUNCIL MEMBERS: NONE
ABSTAIN:
COUNCIL MEMBERS: NONE
ABSENT:
COUNCIL MEMBERS: NONE
Joseph R. Rocha, Chairman
Redevelopment Agency of the City of Azusa
ZATTE'S4
Vera Mendoza, Secretar
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Redevelopment Agency of the City of Azusa at a regular meeting held on the 18 day of
October, 2010.
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