HomeMy WebLinkAboutResolution No. 2023-C33RESOLUTION NO. 2023-C33
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
APPROVING THE THIRD AMENDMENT TO FUNDING AND
ACQUISITION AGREEMENT RELATING TO COMMUNITY
FACILITIES DISTRICT NO. 2005-1 (ROSEDALE) OF THE CITY OF
AZUSA
WHEREAS, the City Council (the “City Council”) of the City of Azusa (the “City”)
established the Community Facilities District No. 2005-1 (Rosedale) of the City (the “District”)
and designated improvement areas pursuant to the provisions of Chapter 2.5 (commencing with
Section 53311) of Part 1 of Division 2 of Title 5 of the California Government Code, commonly
known as the “Mello-Roos Community Facilities Act of 1982”; and
WHEREAS, Azusa Land Partners, LLC (“ALP”) and the City previously entered into a
Funding and Acquisition Agreement (the “Original Agreement”) dated as of August 1, 2005, for
the purpose of including the property in the District and establishing a plan for the financing of the
acquisition, design, and construction of public facilities; and
WHEREAS, on July 18, 2011, ALP, the City, and Rosedale Land Partners II, LLC (the
“Developer”) entered into the Assignment and Assumption Agreement of Funding and Acquisition
Agreement, whereby ALP assigned to, and the Developer assumed, all of ALP’s rights and
obligations under the Original Agreement; and
WHEREAS, The City, on behalf of itself and the District, and Developer, entered into a
First Amendment to Funding and Acquisition Agreement, dated June 1, 2019, for the purpose of
amending Section 9 of the Original Agreement with respect to Improvement Area No. 1; and
WHEREAS, the City, on behalf of itself and the District, and Developer, entered into a
Second Amendment to Funding and Acquisition Agreement, dated December 1, 2019, for the
purpose of amending Section 9 of the Original Agreement with respect to Improvement Area No.
2; and
WHEREAS, the City, on behalf of itself and the District, and the Developer desire to enter
into a “Third Amendment to Funding and Acquisition Agreement” (the “Third Amendment”), the
form of which is attached hereto as Exhibit “A”, for the purpose of (i) satisfying conditions of
approval required for the project, (ii) memorializing the City’s and Developer’s agreement to fund
a funding gap, (iii) setting forth the conditions for the Developer to construct the Rosedale Great
Park, (iv) establishing components of the Rosedale Great Park, and (v) making other minor and
technical changes to the Funding Agreement.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Azusa
does hereby take the following actions:
SECTION 1. That the above recitals are true and correct.
SECTION 2. The Third Amendment is approved and the Mayor or the City Manager are
each authorized to execute and deliver the Third Amendment on behalf of the City in the form
presented to the City Council at the meeting at which this resolution is adopted, with such changes
therein as the officer executing the same may approve, such approval to be conclusively evidenced
by the execution and delivery thereof
SECTION 3. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED and ADOPTED this 19th day of June, 2023.
C
7Robert*Cfonzales
Mayor
ATTEST:
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF AZUSA
)
) ss.
)
I HEREBY CERTIFY that the foregoing Resolution No. 2023-C33 was duly adopted
by the City Council of the City of Azusa, at a meeting thereof held on the 19th day of June
2023, by the following vote of the Council:
COUNCILMEMBERS: GONZALES, ALVAREZ, AVILA, MENDEZ
COUNCILMEMBERS: NONE
AYES:
NOES:
ABSTAIN: COUNCILMEMBERS: BECKWITH
ABSENT: COUNCILMEMBERS: NONE
ornejo, Jr.J(^eyXjjfw
Oty clerk ^
n
APPROVED AS TO FORM:
Best Best & Krieger, ^.LP I
City Attorney