HomeMy WebLinkAbout18-04 SARDA Resolution RESOLUTION NO. SARDA 18-04
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SUCCESSOR AGENCY TO THE TEMECULA
REDEVELOPMENT AGENCY APPROVING THE SECOND
AMENDMENT TO THE DISPOSITION AND DEVELOPMENT
AGREEMENT BY AND AMONG THE CITY OF TEMECULA,
SUCCESSOR AGENCY TO THE TEMECULA
REDEVELOPMENT AGENCY, AND TOWN SQUARE
MARKETPLACE OLD TOWN, LLC CONVEYING
APPROXIMATELY ONE ACRE OF PROPERTY LOCATED
ON MAIN STREET WEST OF MERCEDES STREET
THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE
TEMECULA REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals
(a) The City of Temecula, Successor Agency to the Temecula
Redevelopment Agency, and Town Square Marketplace Old Town, LLC entered into a
Disposition and Development Agreement dated as of December 13, 2016 ("DDA")
providing for the Successor Agency's conveyance to the City of four parcels of real
property composed of approximately one acre and located at the intersection of Main
Street and Mercedes Street across from City Hall and the City's conveyance of such
parcels to the Town Square Market Place Old Town, LLC for development as specified in
the DDA.
(a) On June 12, 2018, entered into the First Amendment of the
Disposition and Development Agreement, thereby extending the date for the close of
escrow to December 12, 2018.
(b) The parties now wish to extend the date for the close of escrow to
June 13, 2019 for the transactions described in the DDA by approving the Second
Amendment to the DDA.
Section 2. Approval of First Amendment. The City Council hereby
approves the "SECOND AMENDMENT TO THE DISPOSITION AND DEVELOPMENT
AGREEMENT BY AND AMONG THE CITY OF TEMECULA, SUCCESSOR AGENCY
TO THE TEMECULA REDEVELOPMENT AGENCY, AND TOWN SQUARE
MARKETPLACE OLD TOWN, LLC" and authorizes the Mayor to execute said Second
Amendment on behalf of the City in substantially the form presented to the City Council.
Section 3. Certification. The City Clerk shall certify the adoption of this
Resolution.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the
Successor Agency to the Temecula Redevelopment Agency this 11 t" day of December,
2018.
Matt Rahn, Chair
ATTEST:
Randi Jo , Secretary
[SEAL]
SARDA Resos 18-04 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, Secretary of the Successor Agency to the Temecula
Redevelopment Agency, do hereby certify that the foregoing Resolution No. SARDA
18-04 was duly and regularly adopted by the Board of Directors of the Successor Agency
to the Temecula Redevelopment Agency at a meeting thereof held on the 11 th day of
December, 2018, by the following vote:
AYES: 5 BOARD MEMBERS: Comerchero, Edwards, Naggar,
Stewart, Rahn
NOES: 0 BOARD MEMBERS: None
ABSTAIN: 0 BOARD MEMBERS: None
ABSENT: 0 BOARD MEMBERS: None
Randi Johl, Secretary
SARDA Resos 18-04 3