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Home My WebLink AboutCDC/2011-02 1 2 3 4 5 6 RESOLUTION NO. CDC/2011-2 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING THE INTERIM EXECUTIVE DIRECTOR OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO ("AGENCY") TO EXECUTE A THIRD AMENDMENT TO THE 2003 DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE AGENCY AND J.R. WATSON AND ASSOCIATES DEVELOPMENT CORPORATION ("DEVELOPER") 7 WHEREAS, the Redevelopment Agency of the City of San Bernardino (the "Agency") is a 8 9 10 community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (the "CRL"), codified under Division 24, Part 1 of the California Health and Safety Code commencing 11 at Section 33000 and is authorized to implement infrastructure projects for redevelopment purposes 12 13 14 15 16 located within the approved redevelopment project areas in the City of San Bernardino (the "City") in accordance with the CRL; and WHEREAS, on November 19, 2010, the Developer requested an amendment to the 2003 Disposition and Development Agreement ("DDA") between the Agency and the Developer; and WHEREAS, the Agency and the Developer agree that the 2003 DDA building standards set forth in Exhibit A-I Required Building Standards greatly exceed the current City of San 17 18 19 20 21 22 23 Bernardino Residential Design Guidelines; and WHEREAS, the Agency and the Developer desire to amend the 2003 DDA by eliminating Exhibit A-I, Required Building Standards and require that the development comply with existing City Development Code Standards; and WHEREAS, the Agency and the Developer agree that the time restriction for the completion of the project, which was five (5) years after the closing date, be eliminated due to the 4 25 26 27 28 recession and its effect on the housing market. NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER, AS FOLLOWS: 1 P:\Agendas\Resolutions\Resolutions\20 11 \01-1 0-11 JR Watson Third Amendment to the 2003 DDA CDC Reso.doc CDC/2011-2 1 Section 1. The information and facts set forth in the above recitals of this Resolution 2 are true and correct in all respects. 3 Section 2. The Commission hereby approves the Third Amendment to the 2003 DDA 4 between the Agency and the Developer attached hereto, incorporated herein by reference as Exhibit 5 "A". 6 Section 3. The Interim Executive Director of the Agency is hereby authorized to 7 execute the Agreement on behalf of the Agency in substantially the form attached hereto as Exhibit 8 "A", together with such changes therein as may be approved by the Interim Executive Director of 9 the Agency, Agency Counsel and City Attorney. The Interim Executive Director of the Agency or 10 such other designated representative of the Agency is further authorized to do any and all things 11 and take any and all actions as may be deemed necessary or advisable to effectuate the purposes of 12 the Agreement, and make non-substantive modifications to the Agreement. 13 Section 4. This Resolution shall take effect from and after its date of adoption by this P:\Agendas\Resolutions\Resolutions\20 11 \01-1 0-11 JR Watson Third Amendment to the 2003 DDA CDC Reso.doc CDC/2011-2 1 2 3 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING THE INTERIM EXECUTIVE DIRECTOR OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO ("AGENCY") TO EXECUTE A THIRD AMENDMENT TO THE 2003 DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE AGENCY AND J.R. WATSON AND ASSOCIATES DEVELOPMENT CORPORATION ("DEVELOPER") 4 5 6 7 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community 8 Development Commission ofthe City of San Bernardino at a j oint regular 9 thereof, held on the lath day of January ,2011, by the following vote to wit: meeting 10 Commission Members: 11 MARQUEZ Ayes X Nays Abstain Absent 12 13 14 15 16 17 18 19 20 DESJARDINS BRINKER SHORETT KELLEY JOHNSON MC CAMMACK X X ~ X X X ,~/jl......... ) . (1'.... '- Secreurry c___ ' The foregoing Resolution is hereby approved this /3171 day of January 21 22 23 , 2011. 4 Approved as to Form: 25 26 By: ~J#/ Agenc Co nsel 27 28 3 P:\Agendas\Resolutions\Resolutions\2011\Ol-1O-11 JR Watson Third Amendment to the 2003 DDA CDC Reso.doc CDCj2011-2 Exhibit "A" P:\Agenrlas\Resolutions\Resolutions\2011 \0 I-I O-II JR Watson Third Amendment to the 2003 DDA CDC Reso.doc 4 CDC/2011-2 RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO 201 North "E" Street, Suite 301 San Bernardino, CA 92401 THIRD AMENDMENT TO THE 2003 DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BElWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND J.R. WATSON & ASSOCIATES DEVELOPMENT CO. DATED JUNE 2,2003 JANUARY 10, 2011 Third Amendment to Watson DDA-12-24-1 0 CDC/2011-2 THIRD AMENDMENT TO THE 2003 DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND J.R. WATSON & ASSOCIATES DEVELOPMENT CO. DATED JUNE 2, 2003 THIS THIRD AMENDMENT TO THE 2003 DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND J.R. WATSON & ASSOCIATES DEVELOPMENT CO. DATED JUNE 2,2003 (this "Amendment No.3") is made this 10th day of January, 2011, by and between the Redevelopment Agency of the City of San Bernardino ("Agency"), and J.R. Watson & Associates Development Corp. (subject to the clarification and correction of the precise name as provided in the Recitals and in Section 4, herein referred to as the "Developer"). This Amendment NO.3 is made with reference to the following facts: RECITALS WHEREAS, the Agency and the Developer entered into that certain 2003 Disposition and Development Agreement dated June 2, 2003 ("Original DDA"); and WHEREAS, the Agency and the Developer entered into that certain Clarification and Amendment to the Original DDA dated January 20, 2004 ("Clarification" and together with the Original DDA, are sometimes defined herein as the "DDA"); and WHEREAS, the Agency and the Developer entered into that Certain Amendment NO.2 to the DDA, dated as of October 17, 2005, and executed by the last of the parties on October 28, 2005 ("Amendment No.2"); and WHEREAS, the name of the Developer was previously set forth incorrectly in the DDA, Clarification and Amendment NO.2 as "J.R. Watson & Associates Development Co." rather than the correct name which for all purposes of the DDA and all amendments and clarifications thereto shall be "JR. Watson & Associates Development Corp." as correctly set forth in this Amendment No.3; and WHEREAS, the Agency and Developer desire to amend the terms of the DDA, Clarification and Amendment No. 2 pursuant to the terms and conditions as set forth below in order to facilitate the sale and vertical development of the Property (as defined in the DDA). NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: AGREEMENT 1. Revision of Exhibit A-1 to OriQinal DDA. Exhibit A-1 attached to the Original DDA is hereby deleted and replaced in its entirety with Exhibit A-1 attached to 1 P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDA.docx CDC/2011-2 this Amendment NO.3 and incorporated herein by this reference. 2. Revision to the Schedule of Performance. Exhibit G of the Original DDA and Exhibit B of the Clarification are hereby replaced in their entirely with Exhibit B attached to this Amendment NO.3 and incorporated herein by this reference. 3. Effect of Amendment NO.3. Except as otherwise set forth herein, the terms of the DDA, as previously amended, shall remain in full force and effect. 4. Statement of Correct Developer Name. The Agency recognizes and agrees that the correct name of the Developer for all purposes of the DDA, Clarification, Amendment NO.2 and this Amendment NO.3 shall be "JR. Watson & Associates Development Corp." as further referenced in the Recitals hereto. 5. Entire Aqreement. The Original DDA, Clarification, Amendment NO.2 and this Amendment NO.3 shall constitute the entire agreement and understanding between the Agency and the Developer, and the Agency and the Developer intend that the Original DDA, Clarification, Amendment NO.2 and this Amendment NO.3 to be the final expression of their agreement and understanding with respect to the subject matters as addressed therein and in this Amendment NO.3. SIGNATURES APPEAR ON NEXT PAGE 2 P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDAdocx CDC/2011-2 IN WITNESS WHEREOF, the undersigned have executed this Amendment No.3 as of the date first above written. DEVELOPER: J.R. WATSON & ASSOCIATES DEVELOPMENT CORP., a California corporation By: Name: Ja Title: Pr I AGENCY: REDEVELOPMENT AGENCY OF THE CITY :; SAN ~~ Name: l:::.- ~'-^. I.. \ CV\ It\-~2,-' I La Title: Executive Director APPROVED AS TO FORM: \./~ Agency unsel 2 P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDAdocx CDC/2011-2 STATE OF CALIFORNIA ) COUNTY OF (C)~ ) On the ~ day of Je).{1 LVLt<.:1 ,2011 before me, personally appeared JQmo~~. tA J.,lh6n. , who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument the person or entity upon behalf of which the person acted executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNE;~d and official seal. (signature) ~ Q;J ~Il~ N LA o..i4.f \> u-'ou' c.. Q R~AHNACHA~Z Commission 11 1801015 i .. Notary Public - California I J Orang. County - - (seaQ _MJ~o~~,~~~'=U~2!.}~1~1 STATE OF CALIFORNIA ) COUNTY OF ) On the _ day of , 2011 before me, personally appeared , who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument the person or entity upon behalf of which the person acted executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. (signature) (seal) 3 P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDA.docx CDC/2011-2 EXHIBIT A-1 AMENDED AND RESTATED REQUIRED BUILDING STANDARDS TO REPLACE EXHIBIT A-1 OF THE ORIGINAL DDA Agency Approval of the DDA June 2, 2003 Current Residential Codes, Regulations and Design Guidelines of the City of San Bernardino as the same may exist as of such time when building permits are issued by the City of San Bernardino for the private development and infrastructure comprising the Project pursuant to the DDA. P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDAdocx CDC/2011-2 EXHIBIT B AMENDED AND RESTATED SCHEDULE OF PERFORMANCE TO REPLACE EXHIBIT G OF THE ORIGINAL DDA AND EXHIBIT B OF THE CLARIFICATION (Days shall be calendar days, and all dates herein are subject to change due to force majeure in accordance with Section 6.05 of the DDA) Agency Approval of the DDA June 2, 2003 The Developer shall perform the following after receipt of the relevant government approvals and permits: 1. After the date of approval of Amendment No. 3 to the DDA, the Developer shall commence construction of the Project (as approved) within the later to occur of either (i) sixty (60) days after the execution of the Amendment No.3 to the DDA, or (ii) receipt of approval of building plans from the City of San Bernardino. 2. Complete construction of the Project on or before the 7th anniversary after the execution of the Amendment NO.3 to the DDA. P:lAgendaslAgenda AttachmentslAgenda AttachmentslAgrmts-Amend 2011\01-10-11 JR Watson Third Amendment to the 2003 DDAdocx