HomeMy WebLinkAbout18-80 CC Resolution RESOLUTION NO. 18-80
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA 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 CITY COUNCIL OF THE CITY OF TEMECULA 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.
(b) 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.
(c) 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.
Resos 18-80 1
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 11 t" day of December, 2018.
Matt Rahn, Mayor
ATTEST:
Ran doM;City Clerk
[SEAL]
Resos 18-80 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the
foregoing Resolution No. 18-80 was duly and regularly adopted by the City Council of the
City of Temecula at a meeting thereof held on the 11th day of December, 2018, by the
following vote:
AYES: 5 COUNCIL MEMBERS: Comerchero, Edwards, Naggar,
Stewart, Rahn
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
---1V4
),
Randi Johl, City Clerk
Resos 18-80 3