HomeMy WebLinkAboutCC RESO 2023-04 Tower 999 LLC - Exclusive Negotiating AgreementRESOLUTION NO, 2023 . 4
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY,
CALIFORNIA, AUTHORIZING THE CITY MANAGER TO EXECUTE AN EXCLUSIVE
NEGOTIATING AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY
AND TOWER 999, LLC, A NEVADA LIMITED LIABILITY COMPANY FOR THE
DISPOSITION OF CITY -OWNED REAL PROPERTY LOCATED AT 921, 925, AND 929
NATIONAL CITY BOULEVARD AND DEVELOPMENT OF A SEVEN -STORY, MIXED
USE BUILDING WITH APPROXIMATELY 9,294 SQUARE FEET OF
RETAIL/COMMERCIAL SPACE AND 127 RENTAL DWELLING UNITS
WHEREAS, The City of National City ("City") is the owner of certain real property
generally located at 921, 925, and 929 National City Boulevard (APN's 556-471-03 and
556-471-04) (collectively, the "City Property"); and
WHEREAS, S, Tower 999, LLC, a Nevada limited liability company ("Developer") is
the owner of certain real property generally located at 999 National City Boulevard (APN
5 6-47 -1 ("Developer Property"). The Developer Property is adjacent to the City
Property. The Developer Property and City Property are collectively referred to herein as
the "Project Property;" and
WHEREAS, Developer desires to acquire the City Property from the City and
thereafter develop a seven -story, mixed -use building with approximately 9,294 square
feet of ground floor retail/commercial ercial space and 127 residential dwelling units
(collectively, the `Project") on the Project Property; and
WHEREAS, the City and Developer are interested in negotiating an agreement
("Project Agreement") pursuant to which the City would sell the City Property to the
Developer and the Developer would construct the Project on the Project Property; and
WHEREAS, the purpose of this Agreement is to establish a period during which
Developer and the City shall exclusively negotiate with one another with respect to: (0 the
Developer's acquisition of the City Property from the City; and (ii) establishment of the
terms of a Project Agreement.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF NATIONAL AL CITY,
CALIFORNIA, DOES RESOLVE, DECLARE, DETERMINE, AND ORDER AS
FOLLOWS:
Section 1: That the City Council hereby authorizes the City Manager to execute
an Exclusive Negotiating Agreement by and between the City of National City and Tower
999, LLC, a Nevada limited liability company, for the disposition of City -owned real
property located at 921, 925, and 929 National City Boulevard and development of a
seven -story, mixed use building with approximately 9,294 square feet of retail/commercial
space and 127 rental dwelling units, which is attached as Attachment A to the Agenda
Report.
Resolution No. 2023 — 04
Page Two
Section 2: That the City Clerk shall certify to the passage and adoption of this
Resolution and enter it into the book of original Resolutions.
PASSED and ADOPTED this 17th day of January, 2023.
Aionniw
Morrison, Mayor
ATTEST:
helley
JJ;Cape l, I nterim City Clerk
APPROVED AS TO FORM:
'
Barry �tzh , City Atto ey
Passed and adopted by the itCouncil of the City of Nationa City , California, on
January 17, 2023 by the following vote, to -wit:
Ayes: Morrison, Molina, Bush, Rodriguez.
Nays: None.
bsi nt: Nonni.
Abstain: Yamane
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
Interim City Clerk of the City of National City,
California
BY: thx-
Shelley Chap 1';,, '1MC, Interim City Clerk