HomeMy WebLinkAboutResolution No. 2016-C36RESOLUTION NO. 2016-C36
A RESOLUTION OF THE CITY OF AZUSA, CALIFORNIA,
APPROVING THE FIRST AMENDMENT TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF AZUSA AND
NET DEVELOPMENT CO., INC.
WHEREAS, on 28`h day of July, 2014, the City approved that certain 2014 Disposition
and Development Agreement (Hotel/Restaurant) with Net Development Co., Inc, ("Developer")
for the disposition and development of certain real property ("Property") as a hotel and
restaurant project ("Project') as set forth in the Agreement; and
WHEREAS, following the dissolution of the Redevelopment Agency the sale of the
Property was delayed; and
iWHEREAS, on March 16, 2016 the Property was conveyed to Developer; and
WHEREAS, the Parties now desire to amend the Agreement to extend the Project
Completion Date, ratify the conveyance to certain parcel specific entities and other clarifying
matters.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Azusa
as follows:
Section 1. The City Council approves the First Amendment to the Disposition and
Development Agreement together with non -substantive changes and amendments as may be
approved by both the City Manager and City Attorney.
Section 2. The City Council hereby authorizes and directs the City Manager to take any
action and execute any documents necessary to implement the First Amendment to the
Disposition and Development Agreement.
Section 3. The City Clerk 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.
PASSED, APPROVED and ADOPTED this 6`h day of June, 2016.
osepfi Romero Rocha,
Mayor
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF AZUSA )
I HEREBY CERTIFY that the foregoing Resolution No. 2016-C36 was duly adopted
by the City Council of the City of Azusa at a regular meeting held on the 6`h day of June, 2016,
by the following vote of the Council:
AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCHA
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
XffYArn
oejo, Jr.
ytClerk
APPROVED AS TO FORM:
Best T
est & Krieg r, LLP