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RESOLUTION NO. CDC/2000-40
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO APPROVING AMENDMENT
NO. 4 TO SAN BERNARDINO ASSOCIATED GOVERNMENT
AGREEMENT NO. 93-099 (LOAN OF $800,000.00 TO
REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO AND INLAND VALLEY DEVELOPMENT
AGENCY TO PREPARE PLANS AND SPECIFICATIONS FOR
CERTAIN MAJOR ARTERIAL STREETS) AND
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE
AMENDMENT NO. 4
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WHEREAS, the Redevelopment Agency of the City of
10 San Bernardino (the "Agency") is a public body, corporate and
11 politic organized under the laws of the State of California; and
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Agreement
93-099
(the
WHEREAS,
pursuant
to
No.
14 "Agreement"), San Bernardino Associated Governments ("SANBAG")
15 loaned to the Agency and to the Inland Valley Development Agency
16 ("IVDA") the principal amount of Eight Hundred Thousand Dollars
17 ($800,000.00) (the "Loan") for the design phases of the Tippecanoe
18 and Del Rosa Avenue connector ($200,000.00) and the design phases
19 of the Orange Show Road extension ($600,000.00); and
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21 WHEREAS, the Loan was to be repaid within five years of
22 the date of the Agreement; and
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WHEREAS, in September 1994, $200,000.00 of the Loan was
25 repaid when an Economic Development Administration grant was
26 obtained and used to pay for seventy five percent (75%) of the
27 costs of the Tippecanoe and Del Rosa Avenue connector; and
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1 WHEREAS, federal funds for the design phase of the Orange
2 Show Road extension have not been obtained, and the IVDA and the
3 Agency have not been able to repay the Six Hundred Thousand Dollar
4 ($600,000.00)portion of the Loan within the time frame provided in
5 the Agreement; and
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7 WHEREAS, on May 5, 1999, SAN BAG approved Amendment No. 1
8 to the Agreement allowing the IVDA and the Agency to repay the Loan
9 within eight (8) years of the date of the Agreement; and
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11 WHEREAS, Amendment No. 1 required the Agency and the IVDA
12 to present a repayment plan for the Six Hundred Thousand Dollars
13 ($600,000.00) to SANBAG no later than sixty (60) days after the
14 approval of Amendment No.1; and
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16 WHEREAS, SAN BAG approved Amendment No.2 to the Agreement
17 on August 4, 1999, allowing the Agency and the IVDA to present a
18 repayment plan for the Six Hundred Thousand Dollars ($600,000.00)
19 no later than October 6, 1999; and
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WHEREAS, on November 3, 1999, SANBAG also approved an
22 Amendment No. 3 to the Agreement allowing the Agency and the IVDA
23 to present a repayment plan for the Six Hundred Thousand Dollars
24 ($600,000.00) no later than June 30, 2000; and
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CDC(2000-40
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WHEREAS, Amendment No. 3 to the Agreement was not
2 presented to the IVDA or the Agency for approval and was never
3 approved by either the IVDA or the Agency; and
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5 WHEREAS, SANBAG subsequently approved Amendment No. 4 to
6 the Agreement, which supersedes and resolves the issues addressed
7 in Amendment No.3
such that Amendment No. 3 is no longer
8 necessary.
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NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION,
11 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
12 SAN BERNARDINO, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
13 FOLLOWS:
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Section 1.
Approval of Amendment No.4. The Agency
16 hereby approves Amendment No.4 to the Agreement as attached hereto
17 as Exhibit "A".
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Section 2.
Official Action. The Executive Director
20 of the Agency is hereby authorized and directed to execute
21 Amendment No. 4 and to deliver Amendment No. 4 to SANBAG. The
22 Executive Director or such other designated representative of the
23 Agency is further authorized to do any and all things necessary or
24 advisable to effectuate the purpose of Amendment No.4.
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CDC/2000-40
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING
2 AMENDMENT NO. 4 TO SAN BERNARDINO ASSOCIATED GOVERNMENT AGREEMENT
NO. 93-099 (LOAN OF $800,000.00 TO REDEVELOPMENT AGENCY OF THE CITY
3 OF SAN BERNARDINO AND INLAND VALLEY DEVELOPMENT AGENCY TO PREPARE
PLANS AND SPECIFICATIONS FOR CERTAIN MAJOR ARTERIAL STREETS) AND
4 AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE AMENDMENT NO. 4
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Section 3.
This
Resolution
shall
take
effect
6 immediately upon its adoption.
7 I HEREBY CERTIFY that the foregoing Resolution was duly
8 adopted by the Community Development Commission of the City of
9 San Bernardino at a Joint Regular
meeting thereof, held on
6th
day of
November
, 2000, by the following
10 the
11 vote, to wit:
12 Commission Members:
13 ESTRADA
LIEN
14 McGINNIS
SCHNETZ
15 SUAREZ
ANDERSON
16 McCAMMACK
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AYES
NAYS
ABSTAIN
ABSENT
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Judit alles, Chairperson
Co n'ty Development Commission
of he City of San Bernardino
legal content:
CDC/2000-40
1 STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )ss
2 CITY OF SAN BERNARDINO )
3 I, Secretary of the Community
Development Commission of the City of San Bernardino, DO HEREBY
4 CERTIFY that the foregoing and attached copy of Community
Development Commission of the City of San Bernardino Resolution
5 No. is a full, true and correct copy of that now on file
in this office.
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IN WITNESS WHEREOF, I have hereunto set my hand and
7 affixed the official seal of the Community Development Commission
of the City of San Bernardino this day of
8 2000.
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Secretary of the
Community Development Commission
of the City of San Bernardino
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CDC/2000-40
AMENDMENT NO.4
AGREEMENT NO. 93-099-4
SAN BERNARDINO ASSOCIATED GOVERNMENTS
and
INLAND VALLEY DEVELOPMENT AGENCY
and
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
WHEREAS, the San Bernardino Associated Governments, hereinafter referred to as
"SANBAG", the Inland Valley Development Agency, hereinafter referred to as "IVDA", and the
Redevelopment Agency of the City of San Bernardino, hereinafter referred to as
"REDEVELOPMENT AGENCY", have previously entered into an agreement, dated November
24, 1992, wherein SANBAG loaned IVDA Eight Hundred Thousand Dollars ($800,000.00) to
prepare plans and specifications for certain major arterial streets, which agreement is hereinafter
referred to as the "Agreement"; and,
WHEREAS, SANBAG, IVDA, and the REDEVELOPMENT AGENCY previously amended the
Agreement to provide additional time to repay the loan and accrued interest; and,
WHEREAS, SANBAG, IVDA, and the REDEVELOPMENT AGENCY desire to amend the
Agreement to provide additional time for IVDA and the REDEVELOPMENT AGENCY to
repay the remaining principal with interest;
NOW THEREFORE, SANBAG, IVDA and the REDEVELOPMENT AGENCY agree the
Agreement is amended as follows:
1. Paragraph 1.0 is amended to read as follows:
D. IVDA shall pay interest in accordance with Exhibit A, attached hereto, with a
fixed interest rate of 6%.
2. Paragraph l.E is amended to read as follows:
E. The loan principal and accrued interest shall be repaid by IVOA to SANBAG by
the June 30, 2004 and in accordance with Exhibit A.
3. Paragraph IIIG is deleted
4. That portion of the Promissory Note, attached to the Agreement as Exhibit A, which
refers to the note being fully due and payable "...within eight (8) years..... is
CHANGED to read ".. .no later than June, 2004."
A930994.doc
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CDC/2000-40
5. All other portions of this Agreement as previously amended. which are not altered
by this amendment, shall remain in full force and effect and are incorporated
herein by this reference. This amendment shall be effective when approved by all
parties hereto.
SAN BERNARDINO ASSOCIATED
GOVER MENTS
APPROVED AS TO FORM:
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By: . ~
Rex A. inesley
SANBAG Counsel
By:
Dennis Hansberger
President
Dated:
9-t - tM
Dated: ? - 2t:: -oc
REDEVELOPMENT AGENCY OF
THE CfT F SAN ERNARDlNO
APPROVED AS TO FORM:
By:
By IL~~
I '
Dated: /1 ~~b'
/
Dated: /1- 7 - tJO
INLAND VALLEY DEVELOPMENT
AGENCY
APPROVED AS TO FORM:
By:
~
,
.... ~
BY~
Timothy . Saba
Agency Counsel
T. Milford Harrison
Interim Executive Director
Dated:
/0- f) , H
Dated: /0 -Lf-Oo
A 9 30994 doc
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. . CDC/2000-40
EXHIBIT A
INLAND VALLEY DEVELOPMENT AGENCY
REPAYMENT PLAN SAN BAG LOAN
ORANGE SHOW ROAD PROJECT
SAN BAG
Loan Amount S 600,000 00
Percentage 6.00%
Total Payments 16
Remaining
Pmt Principal
No. Month Principal Interest Payment Balance
600,000.00
1 Sep-OO 33,459.05 9,000.00 42,459.05 566,540.95
2 Dec-OO 33,960.94 8,498.11 42,459.05 532,580.01
3 Mar-01 34,470.35 7,988.70 42,459.05 498,109.66
4 Jun-01 34,987.41 7,471.64 42,459.05 463,122.26
5 Sep-01 35,512.22 6,946.83 42,45905 427,610.04
6 Dec-01 36,044.90 6,414.15 42,459.05 391,565.14
7 Mar-02 36,585.57 5,873.48 42,459.05 354,979.57
8 Jun-02 37,134.36 5,324.69 42,459.05 317,845.21
9 Sep-02 37,691.37 4,767.68 42,459.05 280,153.84
10 Dec-02 38,256.74 4,202.31 42,459.05 241,897.10
11 Mar-03 38,830.59 3,628.46 42,459.05 203,066.51
12 Jun-03 39,413.05 3,046.00 42,459.05 163,653.45
13 Sep-03 40,004.25 2,454.80 42,459.05 123,649.21
14 Dec-03 40,604.31 1,854.74 42,459.05 83,044.89
15 Mar-04 41,213.38 1,245.67 42,459.05 41,831.52
16 Jun-04 41,831.52 627.47 42,458.99 0.00
600,000.00 79,344.74 679,344.74