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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