HomeMy WebLinkAboutCDC/2000-33
(See Companion Reso. 2000-293)
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RESOLUTION NO. CDC/2000-33
3 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO APPROVING CERTAIN MODIFICATIONS TO
4 COMMON COUNCIL RESOLUTION NO. 2000-27 AND COMMON COUNCIL
RESOLUTION NO. 2000-28 AND AUTHORIZING THE EXECUTION BY THE
5 CHAIRPERSON OF THE OWNER PARTICIPATION AGREEMENT (303 THIRD
STREET PROJECT) BY AND BETWEEN 303 THIRD STREET, L.L.C.,
6 AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
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WHEREAS, Mayor and Common Council of the City of San
9 Bernardino (the "City") and the Community Development Commission of
10 the City of San Bernardino (the "Commission") as the governing board
11 of the Redevelopment Agency of the City of San Bernardino (the
12 "Agency") have previously adopted the following resolutions:
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14 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
15 BERNARDINO, CALIFORNIA APPROVING THE CONTRACT FOR LOAN GUARANTEE
16 ASSISTANCE UNDER SECTION 108 OF THE HOUSING AND COMMUNITY
17 DEVELOPMENT ACT OF 1974, AS AMENDED, 42 U.S.C. SECTION 5308
18 (CDBG SECTION 108 CONTRACT NO. B-94-MC-06-0539) FOR THE 303
19 THIRD STREET PROJECT AND AUTHORIZING THE APPLICATION OF UP TO
20 $344,000 IN ECONOMIC DEVELOPMENT INITIATIVE GRANT PROCEEDS BY
21 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO FOR THE
22 303 THIRD STREET PROJECT ("City Resolution No. 2000-249");
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24 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
25 OF SAN BERNARDINO APPROVING THE TERMS OF AN OWNER PARTICIPATION
26 AGREEMENT (303 THIRD STREET PROJECT) BY AND BETWEEN 303, L.L.C.,
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1 AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND
2 APPROVING THE TERMS OF A 2000 COMMUNITY DEVELOPMENT BLOCK GRANT
3 PROGRAM SECTION 108 PROJECT DEVELOPMENT LOAN AGREEMENT (303
4 THIRD STREET PROJECT) BY AND BETWEEN THE AGENCY AND 303, L.L.C.,
5 AND AUTHORIZING CERTAIN OTHER ACTIONS RELATING TO THE
6 DISBURSEMENT OF THE PROCEEDS OF UP TO $344,000.00 IN EDI
7 GRANT/LOAN PROCEEDS AND UP TO $1,840,000.000 IN SECTION 108 LOAN
8 PROCEEDS BY THE AGENCY TO 303, L.L.C. (303 THIRD STREET PROJECT)
9 ("Commission Resolution No. 2000-27");
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11 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
12 OF SAN BERNARDINO APPROVING THE CONTRACT FOR LOAN GUARANTEE
13 ASSISTANCE UNDER SECTION 108 OF THE HOUSING AND URBAN
14 DEVELOPMENT ACT OF 1974, AS AMENDED, 42 USC SECTION 5308 (CDBG
15 SECTION 108 CONTRACT NO. B-94-MC-06-0539) FOR THE 303 THIRD
16 STREET PROJECT AND AGREEING TO ADMINISTER THE APPLICATION OF UP
17 TO $344,000.00 IN ECONOMIC DEVELOPMENT INITIATIVE GRANT FUNDS TO
18 303, L.L.C., IN SUPPORT OF THE 303 THIRD STREET PROJECT
19 ("Commission Resolution No. 2000-28"); and
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21 WHEREAS, on September 14, 2000, the Secretary of the United
22 States Department of Housing and Urban Development ("HUD") delivered
23 the following instruments to the City in connection with the 303 Third
24 Street Project as previously approved by City Resolution No. 2000-249
25 and Commission Resolution No. 2000-27 and Commission Resolution No.
26 2000-28:
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CDC/2000-33
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(i)
"Contract for Loan Guarantee Assistance Under Section 108
of the Housing and Community Development Act of 1974, As
Amended (42 U. S. C. Section 5308) [HUD Grant No. B-94-MC-06-
5039-A] (the "HUD Section 108 Loan AgreementU)U; and
(ii) "EDI Grant Agreement [Grant No. B-93-ED-06-0539] (the "EDI
Grant AgreementU)U
9 WHEREAS, in order to authorize the Chairperson of the Commission
10 to execute the Owner Participation and Economic Development Initiative
11 Loan Agreement on behalf of the Commission in support of the 303 Third
12 Street Project, it is necessary to modify certain provisions of
13 Commission Resolution No. 2000-27 and Commission Resolution No. 2000-
14 28 and to acknowledge conforming changes by the Mayor and Common
15 Council to City Resolution No. 2000-249, and to take the following
16 actions as set forth in this Resolution.
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18 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE
19 CITY OF SAN BERNARDINO, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND
20 ORDER AS FOLLOWS:
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Section 1.
The text of City Resolution No. 2000-249, the
23 text of Commission Resolution No. 2000-27 and the text of Commission
24 Resolution No. 2000-28 are hereby incorporated by this reference into
25 this Resolution of the Commission.
Unless the specific context of
26 usage of a particular defined term as used in this Resolution may
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CDCj2000-33
1 otherwise require, the meaning of defined terms and phrases as set
2 forth in City Resolution No. 2000-249 shall apply to this Resolution.
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Section 2.
The Commission hereby acknowledges receipt
5 from HUD as of September 14, 2000, of the HUD Section 108 Loan
6 Agreement and the EDI Grant Agreement for the 303 Third Street
7 proj ect .
The HUD Section 108 Loan Agreement and the EDI Grant
8 Agreement are on file with the City Clerk and the Agency Secretary.
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Section 3.
The Commission hereby acknowledges receipt
11 from the Common Council of its Resolution dated September 18, 2000,
12 entitled:
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14 "RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
15 BERNARDINO APPROVING CERTAIN MODIFICATIONS TO MAYOR AND COMMON
16 COUNCIL RESOLUTION NO. 2000-249 AND AUTHORIZING THE EXECUTION BY
17 THE MAYOR OF ECONOMIC DEVELOPMENT GRANT AGREEMENT NO. B-93-ED-
18 06-0539 AND CONTRACT FOR LOAN GUARANTEE ASSISTANCE UNDER SECTION
19 108 OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974, AS
20 AMENDED (303 WEST THIRD STREET PROJECT)".
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22 The Commission hereby concurs and accepts the modifications to
23 Commission Resolution No. 2000-27 and Commission Resolution No. 2000-
24 28 as set forth in the September 18, 2000, Resolution of the Common
25 Council, as referenced above.
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CDC/2000-33
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Section 4.
The Commission hereby approves the OPA in the
2 form as submitted to the Commission at the meeting at which this
3 Resolution is adopted.
The Chairperson of the Commission and the
4 Agency Secretary are hereby authorized and directed, to execute the
5 OPA on behalf of the Agency, together with technical and conforming
6 changes to the text of the OPA and each of the attachments and
7 exhibits thereto as may be recommended by the Executive Director and
8 Agency Special Counsel in order to conform the provisions of the OPA
9 to the special conditions of the HUD Section 108 Loan Agreement and
10 the EDI Grant, as applicable, as delivered to the City as of September
11 14, 2000. The Executive Director is hereby authorized and directed
12 to transfer the sum of $344,000.00, as drawn by the City under the EDI
13 Grant Agreement to the property transfer escrow account established
14 by the State of California and 303 L. L. C., identified as First
15 American Title Escrow No. AD AM 289, at the earliest feasible time.
16 The escrow by and between the State of California and 303 L.L.C. shall
17 close upon satisfaction of each of the conditions described in Section
18 7.0 of the Section 108 Loan Agreement as approved by the Resolution
19 of the Common Council as referenced in Section 3 of this Resolution
20 of the Commission.
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Section 5.
Except to the extent as modified in this
23 Resolution all other provisions of Commission Resolution No. 2000-27
24 and Commission Resolution No. 2000-28 shall remain in full force and
25 effect.
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CDC/2000-33
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN
BERNARDINO APPROVING CERTAIN MODIFICATIONS TO COMMON COUNCIL
2 RESOLUTION NO. 2000-27 AND COMMON COUNCIL RESOLUTION NO. 2000-28 AND
AUTHORIZING THE EXECUTION BY THE CHAIRPERSON OF THE OWNER
3 PARTICIPATION AGREEMENT (303 THIRD STREET PROJECT) BY AND BETWEEN 303
THIRD STREET, L.L.C., AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
4 BERNARDINO
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Section 6.
This Resolution shall take effect upon the
6 date of its adoption.
7 I HEREBY CERTIFY that the foregoing Resolution was duly adopted
8 by the Community Development Commission of the City of San Bernardino
9 at a Joint Regular
meeting thereof, held on the
18th day
10 of September, 2000, by the following vote, to wit:
11 Commission AYES NAYS
ESTRADA X
12 LIEN X
MCGINNIS X
13 SCHNETZ
SUAREZ X
14 ANDERSON X
McCAMMACK X
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ABSTAIN
ABSENT
X
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is hereby approved this IC,-h.- day
The foregoing Resolutio
18 of Septemb~r 2000.
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a les, Chairperson
Com n'ty Development Commission
of the City of San Bernardino
22 Approved as to form
and legal content:
By: ~. ~<:- ~v-~~G.Nl.- LLf
Agency Special Counsel \
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