HomeMy WebLinkAboutR09-Economic Development Agency
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DEVELOPMEl'IT DEPARTMEl'IT
OF TIlE CIn OF SAl'I BERlWUlIl'IO
REOUEST FOR COMMISSIOl'l/COUl'lCIL ACTIOl'l
From:
KENl!IETH J. IIENDERSON
Executive Director
Subject: AGREEMEl'IT BETWEEl'I
DEVELOPMEl'lT DEPARTMENT
Al'ID CEl'ITRAL CIn MALL
ASSOCIATIOl'l
Date:
February 10, 1992
SvnoDsis of Previous Commission/Council/Committee Action(s}:
On November 7, 1991 the Redevelopment Committee reviewed the Central
City Mall Association's proposal and recommended that the Mayor and
Common Council approve the amendment to the Agreement for a $100,000
additional loan.
On November 18, 1991 the Mayor and Common Council approved the
agreement and authorized the Mayor to execute same.
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Recommended Motion(s}:
(Mavor and Common Council)
MOTIOl'l
RESOLUTION OF TIlE MAYOR AND COMMON COUNCIL OF TIlE CITY OF
SAN BERNARDINO AUTHORIZING Al'ID DIRECTING THE EXECUTION OF
AN AMENDMENT TO TIlE AGREEMENT BETWEEN THE CITY OF SAN
BERNARDINO, TIlE DEVELOPMENT DEPARTMENT OF TIlE CITY OF SAN
BERNARDINO Al'ID TIlE CENTRAL CITY MALL ASSOCIATION TO
INCREASE THE $876,000 LOAN AMOUl'lT TO TIlE CENTRAL CITY
MALL ASSOCIATION BY TIlE SUM OF $100,000.
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Administrator
~d{4h~~RSON
Executive Director
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Contact Person(s): Ken Henderson/Art Hassel
Phone:
5081
Project Area(s): Central Citv North (CCN)
Ward(s):
One (1)
Supporting Data Attached:
Staff ReDort: Exhibits
Amount: $ 100.000
Tax Increment
FUNDING REQUIREMENTS:
Source:
Budget Authority:
1991/1992 Budaet
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Commission/Council Notes:
KJH:AJH:lag:0553E
COMMISSION MEETING AGENDA
Meeting Date: 2/17ll99~
Agenda Item Number: ~
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DBVBLOPMBNT DBPARTMBNT
OF THE CITY OF SAW IlBIll'IARDIBO
STAFF REPORT
ARreement Between Develoument DeDartment
and Central Citv Mall Association
Request that the Mayor and Common Council adopt the attached resolution
authorizing the Mayor to execute an amendment to the agreement between
the City of San Bernardino, Development Department and the Central City
Mall Association approving an additional $100,000 loan to the original
loan for $896,000.
In October, 1991, Development Department staff received a request from
the Central City Mall Association for a $100,000 addition to their
existing loan of $896,000. The $100,000 covers overruns in the
Carousel installation and converting the name of Central City Mall to
the Carousel Mall.
On November 7, 1991, the Redevelopment Committee reviewed Central City
Mall Association's proposal and recommended that the Mayor and Common
Council approve the Amendment to the Agreement for $100,000. On
November 18, 1991, the Mayor and Common Council approved the Amendment
to the Agreement between the City of San Bernardino, Development
Department and Central City Mall Association and authorized the Mayor
to execute the amendment to the Agreement.
Subsequent to the above referenced actions, the City Clerk's office on
December 13, 1991 issued a memorandum requiring that all agreements or
amendments thereto to be considered by the Mayor and Common Council
must be accompanied by a resolution to aid in the City Clerk's Office
indexing the files. This item complies with the City Clerk's request
and memorializes the Council's previous actions in the form of a
Resolution.
Therefore, the Development Department staff is submitting the attached
Resolution for the Mayor and Common Council's adoption.
Staff recommends adoption of the attached Resolution.
J. ON, Bll:ecutive Director
Development De artment
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KJH:AJH:lag:0553E
COMMISSION MEETING AGENDA
Meeting Date: 2/17/1992
Agenda Item Number: -L
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MALlii
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CAROUSEL MALL
CENTRAL CITY COMPANY
295 CAROUSEL MALL . SAN BERNARDINO, CA 92401
TELEPHONE (714) 884-0106 . FAX (714) 885-6893
February 4, 1992
Mr. Ezell James
Economic Development Agency
201 North "E" street, Third Floor
San Bernardino, CA 92401
Dear Ezell:
I am enclosing herewith two (2) fully executed copies of the
$100,000 promissory note and two (2) partially executed copies of
the First Amendment to the Central City Mall Carousel Agreement.
Please return one fully executed copy of the First Amendment to me
as soon as the appropriate signatures from the city and Economic
Development Agency are on it.
I am also enclosing invoices in the total amount of $977,196.45.
We have already drawn $876,000 on the original note. The enclosed
invoices are for your convenience to support the original $876,000
draw and the additional $100,000 draw, which I hereby request.
Please let me know when the $100,000 check is ready.
Should you have any questions, please contact me.
Yours truly,
~
Salvatore F. Catalano, CSM
General Manager
SFC:rlt
Enclosures
cc: Tim Steinhaus
Art Hassel
DEVELOPERS, OWNERS AND OPERATORS OF CAROUSEL MALL
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--2eN-21-'9211IE-1~:~2 IQ:CITY CLERK
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TEL NO: 17143845468
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1=1811 P02
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CITY OF SAN BERNARDINO
INTEROFFICE MIMORANDUK
TO. Ken Henderson, Bxecutive Director, Development
oepartmeht
FROM.
DATI.
Rachel Krasney, City Clerk
December 13, 1991
aequest for Resolution Ratifying Authority to Bxecute
Aqreement between City of SB and Provisional
Accelerated Learning Center
Jame. Penman, City Attorney, Tim Steinhau., Bconomic
Development Agency Administrator
aB.
COPIES.
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At the July 1, 1991 Council meeting, Item 17 on the Community
Development Agenda relating to publio anietance using
CollateraH.ed Mortgage obligation Residual Funds for funding
certain start-up coat. of the (PAL) Provisional Accelerated
Learning Center, was approved by the Hayor and Common Council.
Pur.uant to Council action, Community Development Staff was
authorized to prepare and exeoute an acp:.ement with the PAL
Center.
On November 21, 1991 this office received the executed agreement
for the official City seal and .ignature of the City Clerk.
It is important that the City Clerk'. OfUce have appropriate
ReSOlutions accompany any agreement. authorized by the Mayor and
Ci ty Council, so that not only can we properly index Council
action., but so that there is a leqal dOQument stating that the
legislative body is in fact authorized to enter into and execute
agreements they have approved.
Therefore, I would appreciate your a..htanee in drafting a
aseolution ratifying the above stated action for the January 6,
1992 Council agenda.
I appreoiate lour assistance in this matter.
hesitate to ca 1 me if you have any questions.
e~a~
City Clerk
. RK.pqa
Please do not
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RESOLUTION NO.
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING AND DIRECTING THE EXECUTION OF AN
AMENDMENT TO THE AGREEMENT BETWEEN THE CITY OF SAN BERNARDINO, THE
DEVELOPMENT DEPARTMENT OF THE CITY OF SAN BERNARDINO AND THE
CENTRAL CITY MALL ASSOCIATION TO INCREASE THE $876,000 LOAN AMOUNT
TO THE CENTRAL CITY MALL ASSOCIATION BY THE SUM OF $100,000.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
SECTION 1.
( a) The Mayor of the City of San Bernardino is hereby
authorized and directed to execute, on behalf of the City, an
Amendment to the Agreement between the City of San Bernardino, the
Development Department of the City of San Bernardino and the
Central City Mall Association to increase the $876,000 loan amount
to the Central City Mall Association by the sum of $100,000, which
14 Amendment to the Agreement is attached hereto as Exhibit" 1" and
15 is incorporated herein by reference as though fully set forth at
16 length. The Amendment to the Agreement provides for the lending
17 of Tax Allocation Bond Proceeds in the following amount of
18 $100,000.
SECTION 2.
( a) The authorization to execute the above referenced
Amendment to the Agreement is rescinded if the parties to the
agreement fail to execute it within sixty (60) days of the passage
of this resolution
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
Bernardino at a
meeting thereof, held on the
day of
, 1992 by the fOllowing vote, to wit:
III
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AUTHORIZING AND DIRECTING THE EXECUTION OF AN
AMENDMENT TO THE AGREEMENT BETWEEN THE CITY OF SAN BERNARDINO, THE
DEVELOPMENT DEPARTMENT OF THE CITY OF SAN BERNARDINO AND THE
CENTRAL CITY MALL ASSOCIATION TO INCREASE THE $876,000 LOAN AMOUNT
TO THE CENTRAL CITY MALL ASSOCIATION BY THE SUM OF $100,000.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and CODUnon Council of the City of San
Bernardino at a
meeting thereof, held on the
, 1992, by the following vote, to wit:
day of
Council Members:
AYES
NAYS
ABSTAIN ABSENT
ESTRADA
REILLY
HERNANDEZ
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
City Clerk
The foregoing resolution is hereby approved this
of , 1992.
day
w. R. Holcomb, Mayor
Ci ty of San Bernardino
Approved as to
form and legal content:
JAMES F. PENMAN,
City Attorney
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DAB:ja[c1ty-.all.raa]
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1 PROMZSSORY NOTE
2 $100,000.00 San Bernardino, California
3 , 1992
4 After date, for value received, the undersigned Association
5 promises to pay to the order of the City of San Bernardino
6 Redevelopment Agency ("Agency") or its successors, the sum of One
7 Hundred Thousand Dollars ($100,000.00) payable in one payment on
8 October 4, 2001, together with interest on the within note from
9 and after the date hereof at the rate of eight percent (8t) per
10 year. All sums of principal and interest due hereunder shall be
11 payable at the principal offices of Agency at 201 N. "E" Street,
12 San Bernardino, CA 92418, or at such other place as payee or
13 holder may specify in writing.
14 This note shall become immediately due and payable should
15 the Central City Mall or the Carousel Mall located in the City of
16 San Bernardino be sold by the Central City Mall Company, a
17 partnership, or if a new partner shall acquire controlling
18 interest in said partnership, whether such transfer of title be
19 voluntary, involuntary, or by operation of law.
20 The indebtedness evidenced hereby may be prepaid in whole or
21 in part at any time without penalty or premium for such
22 prepayment.
23 Maker waives demand, presentment for payment, protest and
24 notice of nonpayment and of dishonor. Maker agrees to pay a
25 reasonable attorney's fee, including reasonable appellate fees, if
26 any, if this note is placed in the hands of an attorney for
27 collection after default.
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DAB/js/promis.not
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January 13, 1992
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PROMISSORY NOTE RE: CENTRAL CITY MALL
IN WITNESS WHEREOF, THIS NOTE has been duly executed by the
undersigned, as of its date.
CCMA, INC., A NONPROFIT CORPORATION
BY, >/k1~
f/ta Ivw;r-
(Title)
The undersigned hereby guarantees the full and faithful
performance by the Maker of its obligations to repay the above
loan as specified.
CENTRAL CITY CO
BY:
BY:
DAB/js/promis.not
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January 13, 1992
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FZRST AMENDMENT TO
CENTRAL CZTY MALL CAROUSEL
AGREEMENT
THIS FIRST AMENDMENT, is entered into on the
day of , 1992, by and between the City of San
Bernardino (the "City"), the City of San Bernardino Redevelopment
Agency (the "Agency"), CCMA, Inc. a non-profit corporation, also
known as Central City Mall Merchants' Association (the
"Association"), and the Central City Company, a partnership (the
"Company") .
WITNESSETH:
WHEREAS, the parties entered into that certain Central City
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Mall Carousel Agreement on May 15, 1991, and
WHEREAS, the parties desire now to emend said Agreement to
increase by One Hundred Thousand Dollars ($100,000.00) the Agency
loan to the Association.
NOW THEREFORE, the parties hereto agree as follows:
1. Paragraph 1 of the Agreement is hereby amended to
increase the amount of the loan to Nine Hundred Seventy Six
Thousand Dollars ($976,000.00).
2. Except as amended herein said Agreement shall remain in
full force and effect.
IN WITNESS WHEREOF, the parties have signed this Amendment
to Agreement as of the date first above written.
City of San Bernardino
BY:
W.R. Holcomb, Mayor
City of San Bernardino
DAB/js/Amend.Agr
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. 1 ATTEST:
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BY:
3 City Clerk
4 Approved as to form
and legal content:
5
JAMES F. PENMAN,
6 Cit~
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By: ~~
8 ../ Redevelopment Agency of the City of
San Bernardino
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By
11 W.R. Holcomb, Chairman
12 ATTEST:
13
. 14 Secretary
15 Approved as to form
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By Jf~ j
17 Agency Co el -
18 CCMA, Inc., a non-prOfit
corporati
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By
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21 partnership
22 By
23 By
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