HomeMy WebLinkAbout2004 CON CDC Olson Urban Housing - 1st Amendment DDAFIRST AMENDMENT
to
DISPOSITION AND DEVELOPMENT AGREEMENT
between
COMMUNITY DEVELOPMENT COMMISSION
of
THE CITY OF NATIONAL CITY
and
THE OLSON COMPANY
On March 23, 2004, the COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF NATIONAL CITY, a public body, corporate and politic ("CDC"), and THE
OLSON COMPANY, a Delaware Limited liability company ("Developer"), entered into an
DISPOSITION AND DEVELOPMENT AGREEMENT ("DDA') for Developer to explore
the feasibility of redeveloping the property located at 835 Bay Marina Drive, County Assessors
Parcel numbers 559-117-04, 05, 06, 07, 12, in the City of National City Harbor District
Redevelopment Project (the "Site").
WHEREAS, CDC needs to amend the Local Coastal Program ("Amendment") to
achieve the project defined in the DDA and the goals for redeveloping the National City Harbor
District; and
WHEREAS, the Amendment process will still take three (3) to fifteen (15) months; and
WHEREAS, the CDC and Developer desire to extend the timelines represented in the
DDA to allow the processing of the Amendment by the California Coastal Commission,
THE PARTIES AGREE TO AMEND THE AGREEMENT AS FOLLOWS:
All the deadlines and time frames shall commence upon the Amendment's
certification or approval by the Coastal Commission, or November 30, 2006,
whichever date is earlier. However, if the Coastal Commission has not certified,
approved or acted on the Amendment by November 30, 2006, then CDC and
Developer shall negotiate another amendment to the DDA for an additional,
reasonable extension of the applicable DDA deadlines and time frames.
With the foregoing exception, all other terms and provisions of the DDA shall remain in
full force and effect.
IN WITNESS WHEREOF, the Parties have entered into this Amendment as of September 13,
2005.
COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF
NATIONAL CITY, a public body, corporate
and politic:
By: 010
Nick Inzunza, Chairman
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1st Amendment to DDA, 835 Bay Marina Drive
ATTEST,:
Benjamin Martinez, CDC Secretary
APPROVED AS TO FORM:
By: 7
George H. Eiser, III, City -CDC Attorney
DEVELOPER:
Olson Urban Housing, LLC, A Delaware
Limited Liability Company
By: The Olson Company, a California
corporation, Managing Member
By:
Its:
prTetuPsuhor
Grier*. __PosolOont
The Olson
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1st Amendment to DDA, 835 Bay Marina Drive