HomeMy WebLinkAboutResolution No. 8971RESOLUTION NO. AQ71
A RESOLUTION OF THE CITY OF AEUSA APPROVING
OPERATING MEMORANDUM NO. 2 TO THE DISPOSITION
AND DEVELOPMENT AGREEMENT BY AND BETWEEN TEE
REDEVELOPMENT AGENCY AND DEROBA 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) required the Developer to cause demolitions, utility
relocations and off-site infrastructure improvements to the
project site at the Agency's expense, and the Agency was to
reimburse the Developer for said costs; and
WHEREAS, the procedure for reimbursement to the Developer by
the Agency for the above costs was established because the costs
were not known at the time the DDA was -executed; and
WHEREAS, the costs for said work are now known and the site
has not yet been sold to the Developer; and
WHEREAS, for simplicty the Agency and Developer wish to
amend this procedure by reducing the sales price of the.site to
the developer by an amount equal to the cost for / said
demolitions, utility relocations and infrastructure improvements,
thereby requiring the Developer to bear said costs and forgo
reimbursement'of said costs from the Agency.
NOW, THEREFORE, the City Council of the City of Azusa does
hereby resolve as follows:
SECTION 1: The City Council of the City of Azusa hereby
approves Operating Memorandum No. 2 to the DDA by and between the
Redevelopment Agency and DeRosa Centennial Associates and
authorizes the Agency Chairman to execute said Operating
Memorandum No. 2 on behalf of the Agency in substantially the
same form as attached hereto as "Exhibit A."
SECTION 2: The City Clerk shall certify the adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED THIS 3RD DAY OF DECEMBER, 1990
Fff
:ne F. Moses,
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the City Council of the City of Azusa, at a regular
meeting thereof, held on the 3rd day of December, 1990 by the
following vote of the Directors:
AYES: COUNCILMEMBERS: DAmnEIS, STEMCH, NApXM, AI.MMNDER, MOSES
NOES: COUNCILMEMBERS: NOM
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: N=
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