HomeMy WebLinkAbout2008 CC RESO 2008-47 CDCRESOLUTION NO. 2008 — 47
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY
AUTHORIZING THE CHAIRMAN TO EXECUTE
THE THIRD AMENDMENT TO EXCLUSIVE
NEGOTIATION AGREEMENT BETWEEN THE
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF NATIONAL CITY AND
PALM PLAZA ASSOCIATES, LLC
WHEREAS, on January 10, 2006, the Acevedo Group and Community
Development Commission of the City of National City (CDC) entered into an Agreement for a
1.07-acre parcel ("Site") located at 1640 East Plaza Boulevard; and
WHEREAS, during the exclusive negotiation period, the Acevedo Group
partnered with the Planet Development Corporation and Desert Wells, LLC to prepare plans to
develop a residential and commercial mixed use project ("Project") for the Site, as well as for
two adjacent parcels owned by Acevedo; and
WHEREAS, as a result of their partnership, on June 20, 2006, the Acevedo
Group requested and the CDC approved an assignment of the Agreement to their newly formed
Palm Plaza Associates, LLC (Developer); and
WHEREAS, on July 12, 2006, the CDC Executive Director, in his sole discretion,
extended the Agreement for an additional one hundred and eighty (180) days to allow the
Developer additional time to undertake due diligence activities and assess Project feasibility on
the Site; and
WHEREAS, on February 6, 2007, the CDC approved a Second Amendment to
the Agreement for an additional 180 days to refine the project; and
WHEREAS, on May 21, 2007, the CDC approved a concept plan for 76
condominiums, associated common and parking spaces as well as 5,800 square feet of retail
space; and
WHEREAS, the Developer has now sold the retail -designated space to Thrifty
Oil; and
WHEREAS, the Developer and CDC desire to Amend the Agreement for an
additional one hundred and eighty (180) days to allow additional time to complete land use
entitlements, environmental review and negotiate a Disposition and Development Agreement to
complete the Project.
NOW, THEREFORE, BE IT RESOLVED that the Community Development
Commission of the City of National City hereby authorizes the Chairman to execute a Third
Amendment to Exclusive Negotiation Agreement between the Community Development
Commission of the City of National City and Palm Plaza Associates, LLC.
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Resolution No. 2008 — 47
March 18, 2008
Page 2
PASSED and ADOPTED this 18th day of M
APPROVED AS TO FORM:
IIIF-
George H. Eiser, III
Legal Counsel
on Morrison, Chairman
Passed and adopted by the Community Development Commission of the City of
National City, Califomia, on March 18, 2008, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Parra, Ungab, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secretary, C rn evelopm
ent Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2008-47 of the Community Development Commission of the City of
National City, Califomia, passed and adopted on March 18, 2008.
Secretary, Community Development Commission
By:
Deputy