HomeMy Public PortalAbout2006-016STATE OF CALIFORNIA )
) SS
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that
the above and foregoing resolution was duly adopted by the City Council of said
City at a regular meeting thereof held in the City Hall of the City on the
21st day of March , 2006, and passed by the following vote
AYES COUNCILMEN BYRD, JOHNSON, P,EDROZA, SANTILLAN AND VASQUEZ
NOES NONE
ABSTAIN NONE
ABSENT NONE
City Clerk, City of Lynwood
STATE OF CALIFORNIA )
)SS
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, and Clerk of the City
Council of said City, do hereby certify that the above and foregoing is a full, true
and correct copy of Resolution No 2006 mF on file in my
office and that said resolution was adopted on the date and by the vote therein
stated
Dated this 21st day of March _ ' 2006
City Clerk, City of Lynwood
RESOLUTION NO 2006.016
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY
APPROVING AN ASSIGNMENT OF THE EXCLUSIVE NEGOTIATING
AGREEMENT FROM VHB ASSOCIATES„ INC TO LYNWOOD AUTO CENTER
LLC
WHEREAS, the Lynwood Redevelopment Agency ( "Agency ") is engaged in
activities necessary to execute and implement the Redevelopment Plan for
Redevelopment Project Area "A" in the City of Lynwood and has thereby entered
into a Exclusive Negotiating Agreement ( "ENA ") with VHB & Associates, Inc., a
California Corporation ( "Developer ") regarding a potential auto plaza, mixed
residential use, and restaurants, bounded by 5400 and 5500 Martin Luther King
Blvd., the east side of 11350 through 11700 Wright Rd., 5400 through 5600
Cortland Avenue, and 11600 through 11700 Louise St., and
WHEREAS, on December 6, 2005 the Agency approved an extension of
the ENA with VHB Associates Inc., and
WHEREAS, pursuant to Section 15 of the Exclusive Negotiating
Agreement the ENA may not be assigned without the express written consent of
the Agency; and
WHEREAS, VHB Associates, Inc. has submitted the following documents.
an assignment and an LLC Member Control Agreement, which VHB Associates
Inc. represents an assignment of its interest to Lynwood Auto Center LLC , and
WHEREAS, VHB Associates, Inc. has submitted a LLC Member Control
Agreement indicating that the 55% owner of Lynwood Auto Center -LLC is Victor
H Boyd II and that Victor H Boyd II is the manager and president of Lynwood
Auto Center LLC and will continue to be responsible for fulfilling all of developer's
obligations and promises contained within the ENA, and
WHEREAS, Victor H Boyd has represented to the Agency that he will be
personally responsible for fulfilling the obligations of the Developer as set forth in
the ENA,
NOW THEREFORE, the Lynwood Redevelopment Agency does hereby
resolve as follows
Section 1 That the Agency approves and authorizes the Chair to execute
a written approval of the assignment of the ENA entered on October 21, 2004
and extended on December 6, 2005 from VHB Associates, Inc. to Lynwood Auto
Center, LLC, so long as, and contingent upon Victor H Boyd remaining the
manager and controlling member of Lynwood Auto Center, LLC and fulfilling all
obligations of the developer as specified in the ENA.
Section 2: This resolution shall go into effect immediately upon its
adoption.
eticia Vasquez, Chair
Andrea L. Hooper, Secretary N Enrigge artinez, xecutive Director
APPROVED AS TO FORM: APPROVED AS TO CONTENT
onald N Wilson, Agency Counsel Don Vestal, Interim Deputy Executive
Director