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Home My WebLink About2008 CON CDC Constellation Property Group - 4th Amendment DDAAMENDMENT NO. 4 TO DISPOSITION AND DEVELOPMENT AGREEMENT This Amendment No. 4 to Disposition and Development Agreement (this "Amendment") is made and entered into as of June 3, 2008 (the "Effective Date") by and between the Community Development Commission of the City of National City, a public body, corporate and politic (the "CDC") and Constellation Property Group (A Avenue) LP, a Delaware limited partnership (the "Developer"). Recitals A. The CDC and Developer, a Delaware limited partnership entered into that certain Disposition and Development Agreement dated August 30, 2005 (the "DDA") and as amended thereafter. B. The CDC and the Developer desire to further amend the DDA on the terms and conditions set forth below. All capitalized terms used in this Amendment but not defined herein shall have the meanings ascribed to them in the DDA, and Amendments No. 1 through 3. NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the CDC and the Developer (collectively, the "parties") agree as follows: Agreement, 1. Residential Units. To provide increased flexibility for the achievement of success on the Project, the definition of "Residential Units" set forth in Section 100 of the DDA, shall, for a period of time, be defined as an approximately 91,199 square foot, four (4) story short-term residential unit project (excluding hotel and motel units) consisting of approximately 61 residential units and approximately 72 parking spaces, with a structure height not to exceed 50 feet. 2. C'ondominiumiuzation of Residential Units. As the City believes that home ownership is a critical goal for its long term plan, the Developer shall he required to condominiumize the Residential Units by recording a final subdivision map therefor in accordance with the California Subdivision Map Act, and all other State and City ordinances prior to the Project receiving its certificate of occupancy. 3. Condominium Construction. Developer shall cause the Residential Units and the Project to built in a manner consistent with condominium projects in the City of National City. The Project shall meet all relevant building codes and ordinances required for all building types contemplated herein. 4. Miscellaneous. Except to the extent expressly modified by this Amendment, the DDA remains in full force and effect. To the extent of any inconsistency between this Amendment and the DDA, the terms and conditions of this Amendment shall control. This Amendment may he executed in multiple counterparts, all of which, taken together, shall constitute one and the same document. IN WITNESS WHEREOF, the CDC and the Developer have executed this Amendment as of the Effective Date first set forth above. Attested: CDC: Community Development Commission of the City ofI i ional City, a public body, corporatan politic By: Name: Ron Morn_ Its Chairman DEVELOPER: Constellation Property Group (NatCity 12th) LP, a Delaware limited partnership By: Constellation Property Management, Inc., a Delaware corporation Its: Gene Partner By: Eug a archese Pr:. ent RESOLUTION NO. 2008 — 103 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF NATIONAL CITY AUTHORIZING THE CHAIRMAN TO EXECUTE AMENDMENT NO. 4 TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF NATIONAL CITY AND CONSTELLATION PROPERTY GROUP WHEREAS, the Community Development Commission ("CDC") and Constellation Property Group, a Delaware limited partnership, ("Developer") entered into a Disposition and Development Agreement ("DDA") dated August 30, 2005; and WHEREAS, the CDC desires to further amend the DDA to provide increased flexibility for the achievement of the success of the Project by defining "Residential Units" set forth in Section 100 of the DDA as approximately 91,199 square foot, four story short term rental residential project (excluding hotel and motel units) consisting of approximately 61 extended stay residential units and approximately 72 parking spaces, with a structure height not to exceed 50 feet. NOW, THEREFORE, BE IT RESOLVED that the Community Development Commission of the City of National City hereby approves Amendment No. 4 to the Disposition and Development Agreement between the Community Development Commission of the City of National City and Constellation Property Group. Said Amendment No. 4 to the Disposition and Development Agreement is on file in the office of the City Clerk. PASSED and ADOPTED this 3rd day of Jun Ron Morrison, Chairman APPROVED AS TO FORM: George H. Eiser, III Legal Counsel Passed and adopted by the Community Development Commission of the City of National City, California, on June 3, 2008, by the following vote, to -wit: Ayes: Commissioners Morrison, Parra, Ungab, Zarate. Nays: None. Absent: Commissioner Natividad. Abstain: None. AUTHENTICATED BY: RON MORRISON Chairman, Community Development Commission Secretevelopment Commission By: Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2008-103 of the Community Development Commission of the City of National City, California, passed and adopted on June 3, 2008. Secretary, Community Development Commission By: Deputy City of National City, California COMMUNITY DEVELOPMENT COMMISSION AGENDA STATEMENT 27 MEETING DATE June 3, 2008 AGENDA ITEM NO. ITEM TITLE A resolution approving Amendment No. 4 to Disposition and Development Agreement between the Community Development Commission and Constellation Property Group. PREPARED BY ( DEPARTMENT Patricia Beard (ext 4255) \►w Redevelopment Division Redevelopment Manager EXPLANATION Constellation Property Group has commenced grading for the 61 unit condominium project called Centro, located on property previously owned by the Community Development Commission ("CDC") on 12th Street at A Avenue. Challenges faced in order to obtain a building permit for the project led to extensive study and discussion between staff and the developer. Amendment No. 4 provides for the CDC to consider resolving a conflict between the developer's schedule and requirements of the Subdivision Map Act. The Amendment would allow the building permit to be obtained for construction of a short-term rental residential project (excluding hotel and motel units) while requiring construction to condominium standards and recordation of a condominium map prior to issuance of an Occupancy Permit. This complicated issue is explained in detail in the attached Background Report. Environmental Review Not applicable. Please see attached Background Report. Financial Statement Not applicable. Account No STAFF RECOMMENDATION Adopt the resolution. BOARD / COMMISSION RECOMMENDATION Not applicable. Please see attached Background Report. STRATEGIC GOAL 5a. Implement Downtown Specific Plan through establishing market supported values. ATTACHMENTS 1. Background Report 2. Proposed Amendment No. 4 to the DDA with Constellation Prooertv Grouo 00%03 Resolution No. l 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 June 5, 2008 Mr. Eugene Marchese President Constellation Property Group 1133 Columbia Street, Suite 101 San Diego, CA 92101 Dear Mr. Marchese, On June 3rd, 2008, Resolution No. 2008-103 was passed and adopted by the Community Development Commission of the City of National City, authorizing execution of amendment to the disposition and development agreement with Constellation Property Group. We are forwarding for your records a certified copy of the above Resolution and a fully executed original agreement. Sincerely, Michael R. Dalla, CMC City Clerk Enclosure cc: Community Development Commission ® Recycled Paper