HomeMy WebLinkAbout1995-349
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RESOLUTION NO. 95-349
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO, CALIFORNIA,
APPROVING A CERTAIN FIRST AMENDMENT TO
SECOND ADDENDUM TO JOINT DEVELOPMENT
AGREEMENT BY AND AMONG THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO, THE
CITY OF SAN BERNARDINO, CFB INVESTMENTS,
LTD., PINE & CONNIFER, L.P., AND DJS&S
PARTNERS
WHEREAS, the City of San Bernardino ("City"), is a
municipal corporation and a charter city duly created and
existing pursuant to the Constitution and the laws of the State
of California; and
WHEREAS, the Community Development Commission of the
City of San Bernardino, on behalf of the Redevelopment Agency of
the City of San Bernardino ("Agency"), is a public body,
corporate and politic of the State of California, organized and
existing pursuant to the Community Redevelopment Law (Part 1 of
Division 24 commencing with Section 33000 of the Health and
Safety Code) of the State of California; and
WHEREAS, on March 20, 1990, the Agency, the City and
CFB Investments, a California limited partnership ("CFB") entered
into a Joint Development Agreement (" JDA") which contemplated the
construction of 228 planned apartment units known as the Shadow
Hills Development located within the City ("Property"); and
WHEREAS, on August 5, 1991, the Agency, the City and
CFB entered into an Addendum to the JDA ("First Addendum"); and
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1 WHEREAS, on March 29, 1995 the Agency, the City and CFB
2 entered into a Second Addendum to the JDA (" Second Addendum") ,
3 which inter alia provides for the construction of a 42 unit
4 single family residence tract pursuant to Tentative Tract Map No.
5 15642 by CFB, and the provision of financial assistance by the
6 City and the Agency in connection therewith; and
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8 WHEREAS, the City at this time deems it desirable to
9 enter into a First Amendment to Second Addendum ( "First
10 Amendment"), the form of which is attached hereto as Exhibit "A"
11 and is incorporated herein by this reference; and
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13 WHEREAS, the First Amendment inter alia provides for:
14 the acknowledgment by the City that the Bower-Rustic Homes Note
15 has been paid in full; the taking of necessary action by the City
16 to remove the Bower-Rustic Homes Deed of Trust as a matter of
17 record; the execution of a new Promissory Note and Deed of Trust
18 by pine & Connifer, L.P. ("P&C") in favor of the City, which the
19 City will hold as security until the Acquisition Assessment
20 District is formed; the execution of a deed to the Property in
21 favor of P&C; the assignment by CFB of its rights and obligations
22 under the Second Addendum to P&C, subject to the Agency's
23 approval; and the reconveyance of the DJS&S Deed of Trust by
24 DJS&S Partners to P&C in consideration for a limited partnership
25 interest in P&c.
26 I I I
27 I I I
28 III
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,,~:, ;... III
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NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
SECTION 1.
The Recitals hereinabove are true and
correct and are incorporated herein by this reference.
SECTION 2. The City hereby approves the form of the
First Amendment, a copy of which is attached hereto as
Exhibit "A" and is incorporated herein by this reference.
SECTION 3.
The Mayor of the City is hereby
authorized and directed to: execute the First Amendment with any
such changes as may be approved by the Mayor and Counsel for the
City; execute any documents contemplated to be executed by the
City under the First Amendment; and to take any action
contemplated to be taken by the City under the First Amendment.
III
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, APPROVING A CERTAIN FIRST AMENDMENT TO
SECOND ADDENDUM TO JOINT DEVELOPMENT AGREEMENT BY AND AMONG THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO COMMUNITY
DEVELOPMENT COMMISSION, THE CITY OF SAN BERNARDINO, CFB
INVESTMENTS, LTD., PINE & CONNIFER, L.P., AND DJS&S PARTNERS
SECTION 4.
The findings and determinations herein
shall be final and conclusive. This Resolution shall take effect
upon the date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Mayor and Common Council of the City of
San Bernardino at a regular meeting
thereof, held on the 2nd day of October
1995, by the following vote, to wit:
ABSTAIN
ABSENT
NAYS
Council Members:
AYES
NEGRETE
CURLIN
HERNANDEZ
OBERHELMAN
DEVLIN
POPE-LUDLAM
MILLER
x
x
x
x
x
x
x
~er~
viI.
The foregoing
day of October
resolution is hereby approved this
, 1995. . \/1
---1;:;n L !f ()U;~"\
Tom Minor,
Mayor of the City of
San Bernardino
Approved as to form and legal content:
JAMES F. PENMAN
City Attorney
BY:~~J
SB~1l0\DOC\16
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