HomeMy Public PortalAbout2009.024 - LRA (05-06-09)RESOLUTION NO. 2009.024
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF THE CITY
OF LYNWOOD APPROVING A FIRST AMENDMENT TO THE DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE LYNWOOD REDEVELOPMENT
AGENCY AND JAIME GUTIERREZ
WHEREAS, the Agency and Developer entered into a Disposition and
Development Agreement, dated December 2, 2004 ("DDA"), concerning the
development of a commercial building no larger than 1,200 square feet, with the
required parking and landscaping, ("Project") at the Northeast Corner of Fernwood
Avenue and Atlantic Avenue in the City of Lynwood, which is also referred to as Los
Angeles County Assessor's Parcel Number 6189-026-053 ("Site"); and
WHEREAS, the Developer owns and operates an appliance/repair shop and
desires to relocate to the subject Site. However, as the construction of the Project is
behind schedule, the parties desire to amend the DDA as set forth herein; and
WHEREAS, due to unforeseen substantial delays in the planning process for the
Project, an extension of time is now required for the Developer to complete construction
on and development of the Site. Whereas the DDA required completion within eighteen
(18) months of the Close of Escrow, the parties now agree that the schedule for the
Project shall be extended to require commencement of construction within twelve (12)
months after the approval of this First Amendment; and
WHEREAS, as described herein, the parties now desire to enter into this First
Amendment to revise Sections 3, 8(a), and 10 of the DDA, as well as Attachment B, the
Schedule of Performance, to extend certain timelines set forth in the DDA.
NOW, THEREFORE, THE LYNWOOD REDEVELOPMENT AGENCY DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The first paragraph of Section 3, "Deed of Trust," shall be amended
in its entirety to read as follows:
"Seven (7) days following the Developer's execution of this DDA,
Developer hereby agrees to execute and deposit in escrow a Deed of
Trust in favor of the Agency to secure his performance pursuant to this
DDA. Said deed of trust shall be a claim, charge and lien against the Site
and shall be in the form and manner as contained in Exhibit "C" attached
hereto and incorporated herein by this reference. Said Deed of Trust shall
grant to the Agency, in the event of a default by the Developer under this
DDA, the right to foreclose upon the Site, regain title to the Site and to sell
or otherwise dispose of the Site in such manner and method as the
Agency deems to be in its best interest. Said Deed of Trust shall be duly
recorded with the Los Angeles County Recorder. The Agency hereby
agrees that if the Developer fully complies with all of his promises,
covenants and conditions contained in this DDA and Completes
construction of the Project as described in the DDA, the Agency shall
instruct the Trustee to reconvey title to the Site to the Developer and the
Agency shall have no further property right, title or interest in the Site. The
Agency hereby agrees to subordinate its interest in said Deed of Trust to a
construction loan, the proceeds of which shall be used exclusively to
develop and relocate Developer's existing Appliance Sales and Repair
Business as required by this DDA. Developer hereby agrees that any
default by Developer with respect to any construction loan or Deed of
Trust securing said construction loan shall concurrently constitute a
default by the Developer under this DDA."
Section 2. The first sentence of Section 8(a), "Commitment to Develop the
Site/Development of the Site," shall be amended in its entirety to read as follows:
"After conveyance of the Site to the Developer and on or before twelve
(12) months from the approval of the First Amendment, the Developer
agrees to obtain funding for the Project, receive City approval of a
construction plan and schedule and to commence construction of a
commercial building on the Site in accordance with the Schedule of
Performance attached hereto as Attachment B-1 ."
Section 3. Section 10, "Schedule of Performance," shall be amended in its
entirety to read as follows:
"Subject to extensions of time for causes specifically agreed upon in writing by
the Agency, Developer shall commence and complete all construction on and
development of the Site in the manner and within the time frames specified in the
Schedule of Performance that is attached hereto as Attachment B-1 ."
Section 4. Attachment "B" to the DDA, the "Schedule of Performance," shall
be replaced with the Attachment "B-1" attached hereto and incorporated herein.
Hereafter, any reference in the DDA, and any attachments thereto, to Attachment B
shall instead refer to Attachment B-1.
Section 5. Except as expressly provided in this First Amendment, all other
provisions of the DDA shall remain in full force and effect.
PASSED, APPROVED and ADOPTED this 6`h day of May 2009.
~~~-J.
Maria T. Santillan
Chair
ATTEST:
i
aria uinonez
Secretary
APPROVED AS TO FORM:
~ ~~~~~~
Fred Galante
Agency Counsel
Roger aley
Executive Director
APPROVED AS TO CONTENT:
Lorry Her~f'ge , t ;~ . ~ ~,
Assistant City Manager
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the foregoing Resolution was passed and adopted by the Agency at its
regular meeting held on the 6"' day of May, 2009.
AYES: MEMBER FLORES, MORTON, RODRIGUEZ, CASTRO, AND
SANTILLAN
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
/ ~
Maria Quinonez, Secretary
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the above foregoing is a full, true and correct copy of Resolution No.
2009.024 on file in my office and that said Resolution was adopted on the date and by
the vote therein stated. Dated this 6th day of May, 2009.
Maria Quinonez, Secretary
ATTACHMENT B-1
SCHEDULE OF PERFORMANCE
1
Submission of Development Concept
Drawings
Within 90 days after approval of
the First Amendment
2.
3.
4
Resubmittal of Development Concept
Drawings
Submission of Final Construction
Drawings for development of Site
Approval of all permits required by the
City or any other governmental agency
5. Commencement of construction as
provided in the Scope of Development
and final Construction Drawings
6. Completion of Construction
Within 14 days of Developer's
receipt of Development Concept
Rejection
Within 120 days after approval of
the First Amendment
9 months after approval of the First
Amendment
Within 30 days after approval of
permits but no later than 12
months after approval of the First
Amendment
Within 9 months of commencement
of construction