HomeMy WebLinkAboutR28-Economic Development Agency
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ECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO
ORIGiNAL
FROM: Ann Hanis, Director
Bus. Retention, Recruitment & Revitalization
SUBJECT: AMENDMENT TO LOAN
AGREEMENT FOR DAYCARE
CENTER LOCATED AT 265 NORTH
"D"STREET
DATE: October 23,2000
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Svnopsis of Previous Commission/CounciUCommittee Action(s):
On October 19, 2000, the Redevelopmeut Committee recommended that this item be sent to the Community
Development Commission for approval.
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Recommended Motion(s):
(Community Develooment Commission)
MOTION:
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN
BERNARDINO APPROVING AND AUTHORIZING THE EXECUTIVE DIRECTOR OF THE
REDEVELOPMENT AGENCY TO EXECUTE AMENDMENT NO. I TO THE LOAN
AGREEMENT BY AND AMONG THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO, THE JORDAN AND HILDA GRINKER F AMIL Y TRUST AND SOUTHERN
CALIFORNIA PRIVATE SCHOOLS AND CONSENTING TO ASSIGNMENT OF THE LOAN
AGREEMENT TO HARRY WILLIAM PRUITT, SR.
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Contact Person(s): Gary Van OsdeUAnn Harris
Project Area(s) Central City
Phone:
663-1044
Ward(s):
First
Supporting Data Attached: lEI Staff Report 0 Resolution(s) 0 Agreement(s)/Contract(s) 0 Map(s) 0 LetterlMemo
FUNDING REQUIREMENTS Amount $ 50,000
Source:
GRA Funds
SIGNATURE:
Budget Authority:
Yes
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Bus. Retention, Recruitment & Revital.
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GVO:AH:lag: 11-06-00 Day Care
COMMISSION MEETING AGENDA
Meeting Date: 11/06/2000
Agenda Item Number: It.:zf/
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ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
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Amendment to Loan Aereement for Daycare Center Located at 265 North "D" Street
BACKGROUND
In 1992, when the Super Block was being considered, the State began looking for a site and
provider for a day care center. In June 1997, the State issued an RFQ and from that process
awarded Phillip Cothran the contract to provide day care for the downtown workers. At that
time, the State committed $300,000 in funding to equip the daycare facility.
In June of 1997, the State began to look for a suitable site that would meet the their requirements
as well as all the requirernents of the licensing agencies. In 1999 the State located an appropriate
site at 265 North "D" Street and signed a lease with the property owner, Jordan Grinker.
On July 1, 1999, the Community Developrnent Commission approved a Loan Agreement
between the Redevelopment Agency and The Jordan and Hilda Grinker Trust pursuant to which
the Agency agreed to make a $50,000 loan for the necessary day care center tenant
improvements at the 265 North "D" Street site. The loan was secured by a trust deed and
assignment of the lease with all documents agreed to and signed by both the property owner and
the tenant.
CURRENT ISSUE
Recently, the property at 265 North "D" Street was sold by the Grinker Trust to a Mr. Harry
William Pruitt, Sr. As new owner of the property, Mr. Pruitt has agreed to all the terms and
conditions of the Loan Agreement for the day care center tenant irnprovements. Because the
loan is structured as a reimbursable loan, no funds from the Agency Loan have been drawn at
this time. The tenant improvements are near completion. An amendment to the Agreement is
necessary to allow the assignment of the loan to the new owner, to authorize the Executive
Director to sign such an assignment and to enable the new owner to draw down funds.
FISCAL IMPACT
No additional fiscal impact. The loan was previously approved by Commission.
RECOMMENDATION
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GVO:AH:lag: 11-06-00 Day Care
COMMISSION MEETING AGENDA
Meeting Date: 11/06/2000
Agenda Item Number: ~
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RESOLUTION NO. CDCj2000-39
A RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO
APPROVING AND AUTHORIZING THE EXECUTIVE
DIRECTOR OF THE REDEVELOPMENT AGENCY TO
EXECUTE AMENDMENT NO. 1 TO THE LOAN
AGREEMENT BY AND AMONG THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO, THE
JORDAN AND HILDA GRlNKER FAMILY TRUST AND
SOUTHERN CALIFORNIA PRIVATE SCHOOLS AND
CONSENTING TO ASSIGNMENT OF THE LOAN
AGREEMENT TO HARRY WILLIAM PRUITT, SR.
WHEREAS, the Community Development Commission of the City of San
9 Bernardino (the "Commission") is the governing body of the Redevelopment Agency of the City of
10 San Bernardino (the "Agency"), a public body corporate and politic, organized and existing pursuant
11 to the Community Redevelopment Law (California Health and Safety Code Section 33000, et sea.);
12 and
13
14
WHEREAS, the Agency and The Jordan and Hilda Grinker Family Trust' and
15 Southern California Private Schools, a California non-profit corporation (together, the "Borrower")
16 previously entered into that certain Loan Agreement dated as of July I, 1999 (the "Loan
17 Agreernent") pursuant to which the Agency is to make a loan in the amount of Fifty Thousand
18 Dollars ($50,000.00) (the "Loan") to the Borrower for Tenant Improvernents (as that term is defined
19 in the Loan Agreernent) to property located at 265 North "0" Street, San Bernardino, California (the
20 "Property"); and
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22
WHEREAS, The Jordan and Hilda Grinker Family Trust was the owner of the
23 Property at the time the Loan Agreement was entered into but has subsequently sold the Property;
24 and
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WHEREAS, the Property is now owned by Harry William Pruitt, Sr. (the "Property
27 Owner"); and
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SBEO/0001/DOC/4190
10111/00 400 drh
'.
CDC/2000-39
1 WHEREAS, The Jordan and Hilda Grinker Family Trust desires to assign all of its
2 right, title and interest in and to the Loan Agreement to the Property Owner; and
3
4 WHEREAS, the Property Owner is willing to assume the duties, responsibilities and
5 obligations of The Jordan and Hilda Grinker Family Trust under the Loan Agreement, including but
6 not lirnited to applying the proceeds of the Loan solely to effecting the Tenant Improvements and
7 repaying the Loan in accordance with the terms set forth in Section 4 of the Loan Agreement and
8 in the Promissory Note dated July 1, 1999 evidencing the Loan (the "Promissory Note"), which
9 Promissory Note has been assumed by the Property Owner pursuant to that certain Assumption of
10 Debt dated September 26, 2000; and
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15 WHEREAS, in order for The Jordan and Hilda Grinker Family Trust to assign its
16 right, title and interest in and to the Loan Agreement to the Property Owner and to provide for the
17 assumption of the responsibilities, duties and obligations of The Jordan and Hilda Grinker Family
18 Trust by the Property Owner, the Agency and the Borrower desire to amend the Loan Agreement
19 to provide for the proposed assignment and enter into that certain Amendment No. I to the Loan
20 Agreement attached hereto and incorporated herein by this reference as Exhibit "A" ("Arnendment
WHEREAS, Section 9 of the Loan Agreement provides that the Borrower is not
entitled to, and shall not, assign its rights and obligations under the Loan Agreement; and
21 No.1").
22
23 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
24 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
25 BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
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SBEO/000IIDOC/4190
10/11/00 400 drh
CDC/2000-39
1
Section 1.
The Commission hereby approves Amendment No.1 attached hereto
2 as Exhibit "A".
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4
Section 2.
The Executive Director of the Agency is hereby authorized to execute
5 Amendrnent No. I on behalf of the Agency in substantially the form attached hereto, together with
6 such changes therein as may be approved by the Executive Director and Agency Special Counsel.
7 The Executive Director or such other designated representative of the Agency is further authorized
8 to do any and all things and take any and all actions as rnay be deemed necessary or advisable to
9 effectuate the purposes of Amendrnent No.1.
JO
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Section 3.
The Executive Director of the Agency is hereby authorized to execute
12 a consentto an assignment of the Loan Agreernent from The Jordan and Hilda Grinker Family Trust
13 to the Property Owner, in such form as rnay be approved by the Executive Director and Agency
14 Special Counsel.
15 I I I
16 III
17 III
18 III
19 III
20 III
21 III
22 III
23 III
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SBEO/OOO I/DOC/4190
10/11100400 drh
CDCj2000-39
1 A RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
OF SAN BERNARDINO APPROVING AND AUTHORIZING THE EXECUTIVE
2 DIRECTOR OF THE REDEVELOPMENT AGENCY TO EXECUTE AMENDMENT NO. 1
TO THE LOAN AGREEMENT BY AND AMONG THE REDEVELOPMENT AGENCY OF
3 THE CITY OF SAN BERNARDINO, THE JORDAN AND HILDA GRINKER FAMILY
TRUST AND SOUTHERN CALIFORNIA PRIVATE SCHOOLS AND CONSENTING TO
4 ASSIGNMENT OF THE LOAN AGREEMENT TO HARRY WILLIAM PRUITT, SR.
5
Section 4.
This Resolution shall become effective immediately upon its adoption.
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
Development Commission of the City of San Bernardino at a Joint Regular meeting thereof,
held on the 6th
day of November
, 2000, by the following vote, to wit:
Commission AYES
12 ESTRADA X
LIEN X
13 MCGINNIS X
SCHNETZ
14 SUAREZ X
ANDERSON x
15 McCAMMACK X
16
NAYS
ABSTAIN ABSENT
X
November ,2000.
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By:
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The foregoing Resolution is here
SBEOI000l/DOC/4190
10/11100400 drh
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): / /- b -Do
Vote: A/eS~r; &, 7 Nays
Change to motion to amend original documents:
Item #4..2-1
..J/::: 'I Abstain
Resolution # .I L!1)(J/2.0CJ 0 -~
.e- Abs/nt -e- .
Reso. # On Attachments:
Contract term:
NullNoid After:
Date Sent to Mayor: 11- 'if ,.. tJ 0
Date of Clerk's Signature:
-
Date Returned from Mayor: 11- [( -ocJ
Reso. Log Updated: t./
Date of Mayor's Signature: 11- f -()i)
Seal Impressed: -
Date Memo Sent to Department for Signature: / I -0 -oD
See Attached: /Date Returned: 1/- tj-oo
Date Letter Sent to Outside Party for Signature:
~Reminder Letter Sent on~y: ~.. '", -0 I
90 Day Reminder Letter Sent on 45th day:
See Attached: Date Returned:
See Attached: ,/
See Attached:
Note on Resolution of Attachment stored separately: _
Direct City Clerk (circle I): PUBLISH, POST, RECORD W/COUNTY Date:
See Attached:
Yes V" No By_
Yes No .r By_
-
Yes No~ By_
Yes No~ By_
Yes No V By_
Request for Council Action & Staff Report Attached:
Updated Prior Resolutions (Other Than Below):
Updated CITY Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634):
Updated CDC Personnel Folders (5557):
Updated Traffic Folders (3985, 8234, 655, 92-389):
Copies Distributed to:
City Attorney
Parks & Rec.
Code Compliance
Dev. Services
EDA
Finance
MIS
Police
Public Services
Water
Others:
Notes:
BEFORE FILING REVIEW FORM TO ENSURE ANY NOTAT S MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. etc.)
Ready to File: _
Date:
CITY OF SAN BERNARDINO
CITY CLERK'S OFFICE
Interoffice Memorandum
DATE:
November 8,2000
TO:
Lisa Gornez
FROM:
Linda Sutherland
RE:
Transmitting Docurnents for Signature
Attached are the following original documents:
Resolution CDC/2000-38 including Agreement
Resolution CDC/2000-39 including Agreement
Resolution CDC/2000-40 including Agreement
Please obtain signatures where indicated.
Please return to the City Clerk's Office as soon as possible to my attention. I
will forward to you a file copy when fully executed.
If you have any questions, please do not hesitate to contact me at ext. 3205. Thank you.
Rachel Clark
City Clerk
By: Linda Sutherland
I hereby acknowledge receipt of the above rnentioned documents.
Date:
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CITY OF SAN BERNARDINO
Interoffice Memorandum
CITY CLERK'S OFFICE
Records and Information Management (RIM) Program
DATE:
March 6, 2001
TO:
Stephanie Jefferson, Secretary
FROM:
Michelle Taylor, Senior Secretary
RE:
Resolution CDC/2000-39 - Amendment No. 1 to Loan Agreement, Daycare
Center at 265 N. D Street
Our office has not received the signed documents referenced above. If the documents have been
signed, please forward them to the City Clerk's Office; otherwise, please advise rne of their
status.
If you have any questions, please call me at ext. 3206.
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