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Home My WebLink AboutCDC/2005-30 NOTE: SEE COMPANION RESOLUTION NO. 2005-326 CDC/ RESOLUTION NO. 2005-30 2 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE CHAIRPERSON OF THE COMMUNITY DEVELOPMENT COMMISSION TO EXECUTE THE TERMINATION AGREEMENT TO THAT CERTAIN REDEVELOPMENT COOPERATION AND FINANCING AGREEMENT BY AND BETWEEN THE CITY OF SAN BERNARDINO AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO (REDEVELOPMENT COOPERATION AND FINANCING AGREEMENT - IMPERIAL IMPORTS, INC., DBA TOYOTA OF SAN BERNARDINO, SCION OF SAN BERNARDINO AND SAN BERNARDINO HYUNDAI) 3 4 5 6 7 8 9 WHEREAS, the Redevelopment Agency of the City of San Bernardino (the "Agency") 10 entered into that certain 2003 Redevelopment Participation Agreement with Imperial Imports, 11 Inc., DBA Toyota of San Bernardino, Scion of San Bernardino and San Bernardino Hyundai 12 ("Imperial Imports, Inc.") ("2003 Participation Agreement") as approved by the Community 13 Development Commission of the City of San Bernardino (the "Commission") on August 18, 14 2003 pursuant to a separate action of the Commission on behalf of the Agency; and 15 WHEREAS the Agency and the City of San Bernardino ("City") entered into a certain 16 2003 Redevelopment Cooperation and Financing Agreement ("2003 Cooperation Agreement") 17 as approved by the Mayor and Common Council and the Commission on August 18,2003; and 18 WHEREAS, Imperial Imports, Inc. has determined that the assistance to be provided by 19 the Agency is no longer necessary to assure the viability and continued presence of the business 20 operations of Imperial Imports, Inc. and the parties to the 2003 Participation Agreement and 21 2003 Cooperation Agreement desire to terminate said agreements pursuant to the terms of the 22 Termination Agreements. 23 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: 24 25 /II -1- f:\Ae;endas\Resolutiolls\Resolutions\l005\OS-09-19 Imperial Imports coe Reso D.doe cnc/ZOOS-30 Section 1. The Community Development Commission hereby approves and 2 authorizes the Chairperson of the Agency to execute the attached Termination Agreement to the 3 Redevelopment Cooperation and Financing Agreement of even date herein together with such 4 technical and conforming changes as may be recommended by the Executive Director and 5 Agency Counsel. 6 Section 2. 7 /II 8 /II 9 1/1 10 /II 11 /II 12 /II 13 /II 14 /II 1/1 15 /II 16 1/1 17 1/1 18 /II 19 /II 20 1/1 21 /II 22 /II 23 /II 24 /II 25 /II This Resolution shall become effective immediately upon its adoption. -2- P:\Acendas\Resolutions\Resolutions\200S\OS-Ol}.191.lllperiallmport5 CDC Relo B.doc DC/200S-30 2 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE CHAIRPERSON OF THE COMMUNITY DEVELOPMENT COMMISSION TO EXECUTE THE TERMINATION AGREEMENT TO THAT CERTAIN REDEVELOPMENT COOPERATION AND FINANCING AGREEMENT BY AND BETWEEN THE CITY OF SAN BERNARDINO AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO (REDEVELOPMENT COOPERATION AND FINANCING AGREEMENT - IMPERIAL IMPORTS, INC., DBA TOYOTA OF SAN BERNARDINO, SCION OF SAN BERNARDINO AND SAN BERNARDINO HYUNDAI) 3 4 5 6 7 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Communit 8 Development Commission of the City of San Bernardino at a j oint regular meeting 9 thereof, held on the 19thdayof September , 2005, by the following vote to wit: 10 11 Commission Members: Ayes Nays Abstain Absent ESTRADA x LONGVILLE x - MCGINNIS ~ DERRY x KELLEY x JOHNSON x - 12 13 14 15 16 17 ~::Li -: Secretar The foregoing resolution is hereby approved this J1i day of September ,2005. MC CAMMACK x 18 19 20 21 ~' 22 Esther Estrada, Vice-Chairperson Community Development Commission City of San Bernardino n 23 24 Approved as to form and Legal Content: 25 By: t Agency Counsel -3- P:\Ae.endas\Re5olutiQnl\Resolutiolll\2005\OS-09~19 lmperillllmportl CDC IltliO R.doc CDC/200S-30 Termination Agreement to terminate that certain Redevelopment Cooperation and Financing Agreement by and between the Redevelopment Agency of the City of San Bernardino and the City of San Bernardino This Termination Agreement is entered into as of this 19th day of September, 2005, by and between the Redevelopment Agency of the City of San Bernardino, a public body, corporate and politic (the "Agency"), and the City of San Bernardino, California, a municipal corporation (the "City"), for the purpose of terminating that certain Redevelopment Cooperation and Financing Agreement by and between the parties dated as of August 18, 2003, and is made with reference to the following facts: RECIT ALS WHEREAS, the Agency and the City had entered into that certain Redevelopment Cooperation and Financing Agreement dated as of August 18, 2003 for the purpose of the City providing redevelopment financing assistance to the Agency in order for the Agency to execute and implement a Redevelopment Participation Agreement dated as of August 18, 2003, by and between the Agency and Imperial Imports, Inc., DBA Toyota of San Bernardino, Scion of San Bernardino and San Bernardino Hyundai; and WHEREAS, Imperial Imports, Inc., has determined that the assistance to be provided by the Agency in said Redevelopment Participation Agreement is no longer necessary to assure the viability and continued presence of the business operations oflmperial Imports, Inc.; and WHEREAS, Imperial Imports, Inc., at the request of the Participant to the Agency, seeks to terminate said Redevelopment Participation Agreement; and WHEREAS, the Agency and Imperial Imports, Inc., have entered into a Termination Agreement to terminate said Redevelopment Participation Agreement; and WHEREAS, termination of said Redevelopment Participation Agreement now renders moot the provisions contained in the aforementioned Redevelopment Cooperation and Financing Agreement by and between the Agency and the City. NOW, THEREFORE, the Agency and the City as the parties to this Termination Agreement do hereby agree as follows: Section 1. The Recitals as set forth above are true and correct as of the date hereof to the best knowledge and belief of the parties. The parties have entered into this Termination Agreement for the express purpose of terminating the Redevelopment Cooperation and Financing Agreement and all rights, duties and obligations of the parties with respect thereto. Section 2. The Agency and the City hereby agree that as of the date of the final execution and delivery of this Termination Agreement, all provisions of the Redevelopment Cooperation and Financing Agreement shall be null and void and of no further force or effect as to both the Agency and the City. 4851-0525-1328.1 P IAgendaslAgcnda Al1achmenls\Agrmts-Amend 2005\05-09-]9 Imperial C&F TenninalioEl Agreement doc CDC/2005-30 Section 3. This Termination Agreement shall take effect and be in full force and effect from and after the date as set forth in the introductory paragraph hereof and shall not be amended or modified by the Agency or the City except pursuant to written instruments duly approved by the governing body of the Agency and the governing body of the City at the sole and absolute discretion of each party. IN WITNESS WHEREOF, the Agency and the City have duly executed this Termination Agreement as of the date above set forth. ATTEST: CITY City of San Bernardino G~~R... ,b a~~ Cityl::lerk ~~ By: Esther Estrada, Mayor Pro Tern City of San Bernardino APPROVED AS TO FORM A CONTENT: ,/1 ATTEST: AGENCY Redevelopment Agency of the City of San Bernardino -; " 'j'.' " ,.../--1 / _ /', "/' / ,,"', "} /' '- L i 't ' Agency Secretary /J la-I / ~~ By: Esther Estrada, Vice-Chairperson Community Development Commission City of San Bernardino APPROVED AS TO FORM AND CONTENT: Agency Counsel 4851-0525-13281 2 P \Agendas\Agenda Atta,hments\Agrmts-Amend 200S\OS.09-19Imperial C&f Terminalioll Agreemenldoc