HomeMy Public PortalAbout2011.022 - LRA (03-15-11) RESOLUTION NO. 2011.022
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF THE CITY
OF LYNWOOD (AGENCY), CALIFORNIA, AUTHORIZING THE FIRST AMENDMENT
TO THE EXCLUSIVE NEGOTIATING AGREEMENT (ENA) BY AND BETWEEN THE
CITY OF LYNWOOD REDEVELOPMENT AGENCY AND GON-REY, LP
(DEVELOPER)
WHEREAS, on or about December 1, 2009, the Agency's Board of Directors
("Agency Board") approved that certain Exclusive Negotiating Agreement ("Agreement")
with Developer for the Northgate Market project; and
WHEREAS, the Agreement provides a term of 1 year, which was extended by
the Agency's Executive Director an additional 60-days pursuant to Section 4 of the
Agreement; and
WHEREAS, as a result of extensive investigative work of contamination in the
area proposed for the project, the parties require additional time to negotiate the scope
of such proposed development, thus necessitating an extension of the term of the
Agreement; and
WHEREAS, the parties desire to provide additional time to address the scope of
remediation work required and negotiation of the financial terms of the proposed
development by the extension of the term pursuant to this Amendment.
NOW, THEREFORE, THE LYNWOOD REDEVELOPMENT AGENCY DOES HEREBY
RESOLVE AS FOLLOWS FIND, DETERMINE AND RESOLVE AS FOLLOWS:
Section 1. The Agency authorizes the 1 st Amendment to the Exclusive
Negotiating Agreement
Section 2. Section 4 of the Aqreement. Section 4 of the Agreement, entitled
"Extension/Exclusive Negotiation Agreement", is hereby revised in its entirety to read as
follows:
"Term of Aqreement. The term of this Agreement (the "Negotiation Period") shall be
eighteen (18) months after the Effective Date of the Agreement (December 1, 2009) and
shall terminate on May 1, 2011; provided, however, that Agency's Executive Director
and Developer shall have the right to approve an extension of the Negotiation Period for
a cumulative maximum of six (6) months without the requirement of any official action
by Agency's Board of Directors or an amendment of this Agreement, if the Executive
Director determines, in his sole and absolute discretion, that satisfactory progress is
being made to achieve the objectives and complete the tasks set forth herein but such
extension is necessary in order to finalize discussions or negotiations on mutually
satisfactory terms."
Section 3. The Executive Director or his designated agent is hereby given
authority to execute any documents and carry out any and all duties as required by the
amendment document.
Section 4. This Resolution shall be effective immediately upon adoption.
PASSED, APPROVED and ADOPTED THIS 15 day of March, 2011.
' r
� � �,--_-f-���
� �(���.�,.� �. CL�j, iL �:�
a '
Aide Castro, Chair
ATTEST:
Maria Quinonez, Secretary Roger L. Hale , xecutive Director
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
�
� -
Fred Galante, Agency Counsel Sarah . i e, Director of
Redevelopment
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 15 day of March, 2011.
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
i �
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.
2011.022 on file in my office and that said Resolution was adopted on the date and by
the vote therein stated. Dated this 15 day of March, 2011.
� �
Maria Quinonez, Secretary