HomeMy WebLinkAbout04-09 RDA Resolution
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RESOLUTION NO. RDA 04-09
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA
APPROVING FIRST AMENDMENT TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE AGENCY AND
AGK GROUP, LLC, EXTENDING THE INSPECTION DEADLINE
FOR THE TEMECULA EDUCATIONAL COMPLEX
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY
OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. The Board of Directors of the Redevelopment Agency of the City of
Temecula hereby finds, determines and declares that:
A. The approval of this First Amendment by the Agency constitutes an action
by the Agency to extend the inspection deadline for the Temecula Educational Complex.
Section 3.12 of the DDA established a sixth month due diligence period to allow the developer
to inspect the condition of the property. The investigation would typically include but not be
limited to soils conditions, storm drainage utilities and archeological testing. This Section has
an inspection deadline of September 16, 2004. The developer has requested a 90 day
extension to December 16, 2004 in order to finalize his investigation.
Section 2. The Board of Directors of the Redevelopment Agency of the City of
Temecula hereby approves that certain agreement entitled "First Amendment to DDA and
Promissory Note" between the Agency and AGK Group, LLC, with such changes in each
document as may be mutually agreed upon by the Developer and the Executive Director as are
in substantial conformance with the form of such Agreement which on file in the Office of the
Agency Secretary. The Chairperson of the Agency is hereby authorized to execute the
Agreement, including related exhibits and attachments on behalf of the Agency. A copy of the
final Agreement when executed by the Agency Chairperson shall be placed on file in the Office
of the Secretary of the Agency. .
Section 3. The Executive Director of the Agency (or his designee), is hereby
authorized, on behalf of the Agency, to take all actions necessary and appropriate to carry out
and implement the Agreement and to administer the Agency's obligations, responsibilities and
duties to be performed under the Agreement and related documents, including but not limited to
the Promissory Note, Deed of Trust, Regulatory Agreement, acceptances, escrow instructions,
certificates of completion and such other implementing agreements and documents as
contemplated or described in the Agreement.
Section 4.
The Secretary of the Agency shall certify the adoption of this Resolution.
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PASSED, APPROVED AND ADOPTED by the Board of Directors of the Redevel-
opment Agency of the City of Temecula at a regular meeting held on the 14th day of September,
2004.
ATTEST:
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF TEMECULA
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I, Susan W. Jones, CMC, City Clerk/Secretary of the Redevelopment Agency of the City
of Temecula, do hereby certify that Resolution No. RDA No. 04-09 was duly and regularly
adopted by the Board of Directors of the Redevelopment Agency of the City of Temecula at a
regular meeting thereof, held on the 14th day of September, 2004, by the following vote, to wit:
AGENCY MEMBERS: Naggar, Roberts, Stone, Washington, Comerchero
AYES: 5
NOES: 0
ABSENT: 0
ABSTAIN: 0
AGENCY MEMBERS: None
AGENCY MEMBERS: None
AGENCY MEMBERS: None
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R:/RDA Resos/RDA 04-09