HomeMy WebLinkAbout07-022 CC Resolution
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RESOLUTION NO. 07-22
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA APPROVING A FIFTH AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE CITY AND AGK GROUP, LLC, A
CALIFORNIA LIMITED LIABILITY COMPANY FOR THE
TEMECULA EDUCATION COMPLEX
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS
FOLLOWS:
Section 1. The City Council hereby finds, determines and declares that:
A. Agency and AGK Group, LLC, ("Developer") have entered into a
Disposition and Development Agreement dated as of March 16, 2004, as amended on
September 14, 2004, December 7,2004, February 28, 2006 and December 12, 2006
("DDA") which provided for, among other things, the City's contribution to Developer of
certain real property described therein (the "Property") for the purpose of pursuing the
development of a mixed use development incorporating affordable housing, higher
education and retail located on a 31 acre site at the northwest corner of Diaz Road and
Dendy Lane. Capitalized terms uses herein but not defined shall have the meaning set
forth in the DDA.
B. Agency and Developer desire to clarify and modify some of the terms
of the DDA as it relates to the development of the project.
C. On March 6, 2007 the Board of Directors of the Redevelopment
Agency of the City of Temecula and the City Council held a duly noticed joint public hearing
at which all persons had the opportunity to address the Agency and the Council on the Fifth
Amendment.
Section 2. The City Council hereby approves that certain agreement entitled
"Fifth Amendment to Disposition and Development Agreement" 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 City Clerk.
Section 3. The City Clerk shall certify the adoption of this Resolution.
R:/Resos 2007/Resos 07-22
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PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula
this 6th day of March, 2007.
ATTEST:
iJ
ones, MMC
[SEAL]
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, MMC, City Clerk ofthe City ofTemecula, do hereby certify thatthe
foregoing Resolution No. 07-22 was duly and re\j,ularty adopted by the City Council of the City
of Temecula at a meeting thereof held on the 6 day of March, 2007, by the following vote:
AYES: 5
COUNCIL MEMBERS:
NOES: 0
COUNCIL MEMBERS:
ABSENT: 0
COUNCIL MEMBERS:
COUNCIL MEMBERS:
ABSTAIN: 0
R:/Resos 2007/Resos 07-22
Comerchero, Edwards, Naggar, Roberts,
Washington
None
None
None
. Jones, MMC
City Clerk
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