HomeMy WebLinkAbout2007 CC RESO 2007-41 CDCRESOLUTION NO. 2007 — 41
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY
AUTHORIZING THE CHAIRMAN TO EXECUTE
AMENDMENT NO. 3 TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT WITH
CONSTELLATION PROPERTY GROUP (A AVENUE) LP
WHEREAS, Constellation Property Group (A Avenue) LP, entered into a
Disposition and Development Agreement ("DDA") dated August 30, 2005, pursuant to which A
Avenue agreed to develop a real estate project in National City known as "Centro". Pursuant to
the DDA, A Avenue further agreed to build office space and four parking spaces for the CDC in
the Centro project, and a trolley transit center; and
WHEREAS, Constellation Property Group (Nat City 12th) is an affiliate of A
Avenue and the developer of the Revolution 2 project located adjacent to Centro; and
WHEREAS, on October 21, 2005, A Avenue and Nat City 12th entered into an
Assignment and Assumption Agreement pursuant to which A Avenue assigned all of its rights
under the DDA to Nat City 12th, and Nat City 12th agreed to assume the obligations under the
DDA; and
WHEREAS, in connection with the October 21, 2005 assignment, the CDC and
Nat City 12th entered into Amendment No. 1 to the DDA on October 25, 2005, pursuant to
which Nat City 12th agreed to construct the office space and trolley transit center; and
WHEREAS, on or about October 17, 2006, A Avenue and Nat City 12th entered
into an Assignment and Assumption Agreement pursuant to which Nat City 12th assigned back
to A Avenue the rights and obligations under the DDA; and
WHEREAS, on or about October 17, 2006, the CDC agreed to enter into
Amendment No. 2 to the DDA, pursuant to which A Avenue's obligation to provide office space
to the CDC would be replaced with an obligation to provide a residential condominium unit in
the Centro project; and
WHEREAS, Amendment No. 2 to the DDA provided that the Grant Deed
conveying the project site from Constellation Property Group (Nat City 12th) LP to Constellation
Property Group (A Avenue) LP be recorded by February 28, 2007; the developer has now
requested that this date be extended to April 30, 2007; and
WHEREAS, it has been proposed that the DDA be amended to authorize the
Executive Director, in his sole discretion, to grant future extensions of time to the Developer to
comply with the Developer's obligations under the DDA.
NOW, THEREFORE, BE IT RESOLVED that the Community Development
Commission of the City of National City hereby authorizes the Chairman to execute Amendment
No. 3 to the Disposition and Development Agreement with Constellation Property Group (A
Avenue) LP. Said Amendment Agreement is on file in the office of the City Clerk.
"' Signature Page to Follow *"
Resolution No. 2007 — 41
March 6, 2007
Page 2
PASSED and ADOPTED this 6th day of March, 2007.
Ron Morrison, Chairman
ATTEST:
rad ',Secretary
APPROVED AS TO FORM:
George H. Eiser, III
Legal Counsel
Passed and adopted by the Community Development Commission of the City of
National City, California, on March 6, 2007, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Parra, Ungab.
Nays: None.
Absent: Zarate.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community D;elopment Commission
Secretary, Co
opment Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2007-41 of the Community Development Commission of the City of
National City, Califomia, passed and adopted on March 6, 2007.
Secretary, Community Development Commission
By:
Deputy