HomeMy WebLinkAbout2006 CC RESO 2006-116 CDCRESOLUTION NO. 2006-116
RESOLUTION OF THE
COMMUNITY DEVELOPMENT COMMISSION
AUTHORIZING THE CHAIRMAN TO EXECUTE AN
ASSIGNMENT AND ASSUMPTION AGREEMENT BETWEEN
THE ACEVEDO GROUP, PALM PLAZA ASSOCIATES, LLC,
AND THE COMMUNITY DEVELOPMENT COMMISSION
FOR A 1.07-ACRE PARCEL LOCATED AT
1640 EAST PLAZA BOULEVARD (APN# 557-410-20)
WHEREAS, on January 10, 2006, the Community Development Commission of
the City of National City (CDC) and the Acevedo Group entered into an Exclusive Negotiation
Agreement (ENA) for a 1.07-acre parcel located at 1640 East Plaza Boulevard; and ;
WHEREAS, since approval of the ENA, the Acevedo Group has partnered with
the Planet Development Corporation and Desert Wells, LLC to prepare plans to develop a
residential/commercial mixed use project for the subject parcel, as well as for a parcel the
partnership controls just west of the location; and
WHEREAS, as a result of their partnership, the Acevedo Group has requested
that the CDC assign the ENA to the subject property to their newly formed Palm Plaza
Associates, LLC; and
WHEREAS, the newly formed partnership is qualified and experienced, and has
the financial capability to develop a mixed use project for the subject property.
NOW, THEREFORE, BE IT RESOLVED that the Community Development
Commission of the City of National City hereby authorizes the Chairman to execute an
Assignment and Assumption Agreement between the Acevedo Group, Palm Plaza Associates,
LLC, and the CDC for a 1.07-acre parcel located at 1640 East Plaza Boulevard. Said
Agreement is on file in the office of the City Clerk.
PASSED AND ADOPTED this 20`" day of June 2006.
Nic
ATTESTT:-
/ r,
Chris Zapa , ecretary
APPROVED AS TO FORM:
George H. Eiser, III
Legal Counsel
a-0 i
hairman
Passed and adopted by the Community Development Commission of National City,
California, on June 20, 2006, by the following vote, to -wit:
Ayes: Councilmembers: Inzunza, Morrison, Parra, Zarate.
Nays: Natividad.
Absent: None.
Abstain: None.
AUTHENTICATED BY: NICK INZUNZA
Chairman CgFr nunity Development Commission
Secretary Community Deeel6pment Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2006-116 of the Community Development Commission of the City
of National City, California, passed and adopted on June 20, 2006.
Secretary Community Development Commission
By:
Deputy