HomeMy WebLinkAboutResolution No. 10-R31RESOLUTION NO. 10-R31
A RESOLUTION OF THE GOVERNING BOARD OF THE REDEVELOPMENT AGENCY
OF THE CITY OF AZUSA, CALIFORNIA, APPROVING AN AMENDMENT TO THE
STATUTORY DEVELOPMENT AGREEMENT AND OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, THE CITY OF AZUSA AND JAR — UNIVERSITY COMMONS, LLC, GOVERNING
CERTAIN REAL PROPERTY LOCATED AT THE SOUTHWEST CORNER OF ALOSTA
AVENUE AND CITRUS AVENUE, AZUSA, CALIFORNIA, RELATING TO THE CITRUS
CROSSING SHOPPING CENTER
WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety
Code Sections 33000, et seq.) ("CRL"), the City Council ("City Council") of the City of Azusa
("City") has approved and adopted a redevelopment plan ("Redevelopment Plan") for the Merged
Central Business District Redevelopment Project Area ("Project Area"); and
WHEREAS, the Governing Board (`Board") of the Redevelopment Agency of the City of
Azusa ("Agency") has adopted an implementation plan for the Redevelopment Plan ("Implementation
Plan") and is engaged in activities necessary to execute and implement the Redevelopment Plan
pursuant to the CRL; and
WHEREAS, the City and Agency entered into that certain Statutory Development Agreement
and Owner Participation Agreement, dated December 4, 2006 for reference purposes and recorded as
Document No. 20070410405 on February 26, 2007 in the Official Records of Los Angeles County,
("Agreement") with JAR- University Commons LLC, a California limited liability company ("JAR")
to construct a mixed-use commercial and residential development ("Project") on that certain real
property located at Southwest Corner of Alosta Avenue and Citrus Avenue ("Property"); and
WHEREAS, Citrus Crossing Properties Fee LLC, a Delaware limited liability company
("Developer") acquired fee title to the Property from JAR on July 26, 2007 by recordation of that
certain Grant Deed recorded as Document No. 20071767518 in the Official Records of Los Angeles
County and became successor -in -interest to JAR; and
WHEREAS, under the Agreement, Developer agreed to pay an Annual Developer Payment
associated with Local Sales Tax Revenues in advance of each Sales Tax Year with subsequent annual
developer payments to be paid within ninety (90) days after commencement of each Sales Tax Year;
and
WHEREAS, pursuant to the CRL and the Redevelopment Plan, the Agency and the Developer
desire to amend the Agreement to defer the required Annual Developer Payment for a period of three
(3) years, by extending the Sales Tax Term of the Agreement, to provide the Developer an opportunity
to recruit, and further incentivize, a high quality, national chain restaurant to the Property's remaining
undeveloped building pad; and
WHEREAS, the development project described in the Agreement, as amended by the
Amendment, will provide for the redevelopment of the Property and will be of benefit to the Project
Area, all in conformance with the Redevelopment Plan and the Implementation Plan; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.
NOW, THEREFORE, THE GOVERNING BOARD OF THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA, CALIFORNIA, DOES RESOLVE AS FOLLOWS:
Section 1. The recitals set forth above are true and correct and incorporated herein. The
Board approves the Amendment attached hereto as Exhibit A and incorporated
herein by reference.
Section 2. The Board hereby finds and determines that it can be seen with certainty that
adoption of this Resolution and Amendment 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 3. The location and custodianship of the documents and any other material that
constitutes the record of proceedings regarding the adoption of this Resolution
by the Board is as follows: Secretary to the Board, Redevelopment Agency of
the City of Azusa, 213 E. Foothill Blvd., Azusa, California, phone: (626) 812-
5299.
Section 4. This Resolution shall take effect immediately upon its adoption.
Section 5. The Chairperson shall sign this Resolution and the Agency Secretary shall attest
and certify to the passage and adoption of this Resolution.
ADOPTED, SIGNED, AND APPROVED this 18th day of October, 2010, by the following vote:
AYES: COUNCIL MEMBERS: GONZALES, CARRILLO, HANKS, MACIAS, ROCHA
NOES: COUNCIL MEMBERS: NONE
ABSTAIN: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
oseph R. Rocha, Chairperson
ATTEST,
Vera Mendoza, Secretary
APPROVED AS TO FORM:
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Sonia Carvalho, Agency Counsel
EXHIBIT "A"
AMENDMENT