HomeMy WebLinkAboutCC RESO 2023-144 Second Amendment - Tower 999 LLCRESOLUTION NO. 2023 - 144
RESOLUTION N F THE CITY COUNCIL OF THE CITY OF NATIONAL CITY, CALIFORNIA,
IA
AUTHORIZING THE CITY MANAGER TO EXECUTE A SECOND AMENDMENT T TO THE
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 enerall
y
located at 921, 925, and 929 National City Boulevard (APL's 5 -471- 3 and 556-471-04)
(collectively, the City Property"); and
WHEREAS, Tower 999, LLC, a Nevada limited liability company ("Developer") is the
owner of certain real property generally located at 999 National City Boulevard (APN 6-4 1-17
("Developer Properly"). The Developer Property is adjacent to the City Property. Developer
ert . The p
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 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 City Council, per Resolution 2023-04 authorized the City Manager to
execute an Exclusive Negotiating Agreement between the City and the Developer to establish a
period during which the Developer and the City shall exclusively negotiate with one another with
respect to: i the Developer's acquisition of the City Property from the City; and (ID establishment
of the terms of a Project Agreement (the "Agreement"); and
WHEREAS, the original term of the Agreement commenced on January 17, 2023, and
was to end on July 17, 2023; and
WHEREAS, the Agreement allowed for the City Manager, within the sole discretion of the
City Manager, to extend the term of the Exclusive Negotiating Period to October 16, 2023; and
WHEREAS, the Developer provided a written request to extend the
greement to October
16, 2023; and
WHEREAS, on July 18, 2023, the parties executed a First Amendment to the Agreement
by extending the term to October 16, 2023; and
WHEREAS, the City and the Developer have been making progress during the Exclusive
Negotiating Period, but several obligations under the Agreement are takinglonger than
anticipated
and require more time; and
WHEREAS, City staff recommends a Second Agreement o the Agreement to extend the
Agreement for six 6 months to April 16, 2024; for six 6 months to April 16, 2024; and
WHEREAS, staff further recommends that the Second Amendment authorize the City
Manager, in the sole discretion of the City Manager, to extend the term of the Exclusive
Negotiating Period an additional three (3) months to July 16, 2024, upon the written request of
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the Developer.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF NATIONAL CITY,
CALIFORNIA, DOES RESOLVE, DECLARE, DETERMINE, AND ORDER AS FOLLOWS:
Section 1: City Council hereby authorizes the City Manager to execute a Second
Amendment to the Exclusive Negotiating Agreement by and between the City of National +Cite. and
Tower 999, LLC, a Nevada limited liability company, for a term of (6) months to April 16, 2024.
Section 2: City Council hereby authorizes the City Manager. in the sole discretion of
the City Manager, to extend the term of the Exclusive Negotiating Period an additional three (3)
months to July 16, 2024, upon written request of the developer.
Section 2: 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 3rd day of er, 2023.
Morrison, Mayor
ATTEST:
Shelley C el, M'IC Clerk
� City
APPROVED AS TO FORM:
jerieeedivd"-
Barry c itz, City Attorney
Passed and adopted by the City Council of the City of National City, California, on
October 31 2023 by the following vote, to wit:
Ayes: Bush, Rodriguez, Yamane, Molina, Morrison
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED ATED BY: Ro N MORRISON
Mayor of the City of National l City, California
heil Chapel
City Clerk of the City of National l City, California
BY: .--- ,
Shelley Chap¢tf, MMC, City Clerk
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