HomeMy WebLinkAbout2008 CON CDC Home Depot and Pacific Steel - 3rd Amendment ENATHIRD AMENDMENT
to
EXCLUSIVE NEGOTIATING AGREEMENT
between
COMMUNITY DEVELOPMENT COMMISSION
of
THE CITY OF NATIONAL CITY
and
HOME DEPOT U.S.A., INC. and PACIFIC STEEL, INC
On November 21, 2006, the COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF NATIONAL CITY, a public body, corporate and politic ("CDC"), and HOME
DEPOT U.S.A., INC., a Delaware Corporation, and PACIFIC STEEL, INC., a California
corporation ("Developers"), entered into an EXCLUSIVE NEGOTIATION AGREEMENT
("Agreement') for Developer to explore the feasibility of redeveloping properties on the west
side of Cleveland Avenue from Civic Center Drive to 18th Street (the "Site").
WHEREAS, on May 15, 2007 the parties entered into the First Amendment to the
Agreement to provide additional time for due diligence; and
WHEREAS, on September 4, 2007 the parties entered into a Second Amendment to the
Agreement to exclude parcel APN4559-076-11 from the project; and
WHEREAS, the parties have worked diligently to explore the feasibility but need to
extend the original schedule to further assess likely hazardous soils remediation and development
requirements necessary to the project; and
WHEREAS, the CDC is conducting an Owner Participation process related to the
feasibility of the potential project and requires additional time for the process; and
WHEREAS, CDC and Developers desire to extend the original schedule to allow an
additional 180 days of feasibility exploration;
THE PARTIES AGREE TO AMEND THE AGREEMENT AS FOLLOWS:
1 The Exclusive Negotiation Period is hereby extended until November 21,
2008;
2. Future extensions of the Agreement may be authorized by the Executive
Director up to and until Novemeber 21, 2009;
3. With the exception of the above two provisions, the original Exclusive
Negotiation Agreement remains in full force and effect.
Page 1 of 2
3rd Amendment to ENA, Home Depot/PS1
IN WITNESS WHEREOF, the Parties have entered into this Amendment as of February 21,
2008.
COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF
NATIONAL CITY, a public body, corporate
and politic:
By:
Executive Director
APPROVED AS TO FORM:
By: dcv.4:
George II. Eiscr, III, City -CDC Attorney
DEVELOPER:
HOME DEPOT U.S.A. INC, a Delaware
corporation
By: au,
Ann Jerhof
,sq., Dif�ctor - Legal
PACIFIC STEEL, INC., a California
corporation
By:
Title: Fernando Solorzano/ President
By:
Title: Marisela Martinez/ CFO
Page 2 of 2
3rd Amendment to ENA, Home Depot/PSI
APPROVED AS TO FORM:
By:
George H. Eiser, III, City -CDC Attorney
DEVELOPER:
HOME DEPOT U.S.A. INC, a Delaware
corporation
By:
Title:
By:
Title:
PACIFIC STEEL, INC., a California
corporation
By:
A.: Solorzano/ Presi ' en
By.42 A3 43
Title: Marisela Martinez/ CFO
oz/i, /08
Page 2 of 2
Third. Amendment to ENA, Home Depot/PSI
City of National City
Office of the City Clerk
1243 National City Boulevard, National City, CA 91950-4397
Michael R. Della, CMC - City Clerk
(619) 336-4228 Fax: (619) 336-4229
April 10, 2008
Ms. Ann K. Jerhoff
Director
Real Estate Law
3800 West Chapman Avenue
Orange, CA 92868
Dear Ms. Jerhoff,
On February 21, 2008, a Third Amendment to the Exclusive Negotiating
Agreement was entered between the Community Development Commission of
the City of National City and Home Depot U.S.A., Inc. and Pacific Steel, Inc.
We are enclosing for your records a fully executed original agreement.
Sincerely,
Michael R. Dalla, CMC
City Clerk
Enclosure
cc: Community Development Commission
® Recycled Paper
City of National City
Office of the City Clerk
1243 National City Boulevard, National City, CA 91950-4397
Michael R. Dalla, CMC - City Clerk
(619) 336-4228 Fax: (619) 336-4229
April 10, 2008
Mr. Fernando Solorzano
President
Pacific Steel, Inc.
1700 Cleveland Avenue
National City, CA 91950
Dear Mr. Solorzano,
On February 21, 2008, a Third Amendment to the Exclusive Negotiating
Agreement was entered between the Community Development Commission of
the City of National City and Home Depot U.S.A., Inc. and Pacific Steel, Inc.
We are enclosing for your records a fully executed original agreement.
Sincerely,
Michael R. Dalla, CMC
City Clerk
Enclosure
cc: Community Development Commission
® Recycled Parer