HomeMy WebLinkAboutContracts & Agreements_3-06 RDA_CCv0001.pdf SECOND AMENDMENT TO ACQUISITION FUNDING AGREEMENT
This Second Amendment to Acquisition Funding Agreement (this "Amendment"), dated
as of March 21, 2006, is entered into by and between the Redevelopment Agency of the City of
Redlands, a public body corporate and politic (the "Agency") and Redlands Land Holding
L.L.C., a Delaware limited liability company (the "Redeveloper"). The Agency and the
Redeveloper are sometimes herein individually referred to as a "Party" or, together, as the
"Parties".
RECITALS
A. The Agency has undertaken a program for the rehabilitation and development of
blighted areas within the City of Redlands (the "City") by adopting a Redevelopment Plan for
the geographical area of the City designated as the Agency's Redevelopment Project Area No. 1
(the"Project Area").
B. The Agency and Redlands Land Acquisition Company L.P., a Delaware limited
partnership (the "Redeveloper's Affiliate") previously entered into an Exclusive Right to
Negotiate Agreement dated September 7, 2004, which expired June 4, 2005, (the "First
Agreement") to facilitate negotiations leading to the development of a project on a site as
defined therein within the Project Area, and the execution of an Owner Participation Agreement
and a Disposition and Development Agreement to achieve the goal of redevelopment of such
site.
C. The Agency and the Redeveloper's Affiliate also previously entered into an
Acquisition Funding Agreement dated as of January 4, 2005 (the "Acquisition Funding
Agreement") to further implement the First Agreement and move forward to complete such
steps in furtherance of the Project (as defined in the Agreement (as defined herein)) as may be
carried out in accordance with law, including establishing a more specific agreement with respect
to funding the preliminary steps for site assembly and California Environmental. Quality Act
compliance.
D. The Parties previously entered into a second Exclusive Right to Negotiate
Agreement dated as of September 20, 2005, which expired March 20, 2006 (the "Second
Agreement"), establishing a period during which the Redeveloper had the right to exclusively
negotiate with the Agency for the purposes described above.
E. Concurrently with execution of the Second Agreement, the Parties and the
Redeveloper's Affiliate amended, and the Redeveloper became the successor to the
Redeveloper's Affiliate under, the Acquisition Funding Agreement, as amended, to reflect its
purpose to further implement the Second Agreement.
F. Concurrently herewith, the Agency and the Redeveloper are entering into a new,
322727.1 001663.0006 3.15.2006-6:12 PM t
third agreement (the "Agreement") again to establish a period during which the Redeveloper
again shall have the right to exclusively negotiate with the Agency for the purposes described
above.
O. The Parties now desire again to amend the Acquisition Funding Agreement to
reflect its purpose to further implement the Agreement.
NOW, THEREFORE, in consideration of the mutual promises made by the Parties
herein, the Parties agree as follows:
AGREEMENT
Section 1. The Acquisition Funding Agreement is hereby further amended as
follows:
1.01 All references to the Second Agreement (or sections thereof) shall be
deleted in their entirety and replaced with corresponding references to the Agreement (or
sections thereof).
Section 2. All other provisions of the Acquisition Funding Agreement shall remain
unchanged and in full force and effect.
322727.1 001663.0006 3 15.2006-6:12 PM 2
IN WITNESS WHEREOF, the Parties have executed this Amendment on the date and
year first-above written.
REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS,
a public body corporateand po itic
By:
3o arrison, airperson
ATTEST: By:
Agency/secretary
The--Rede-;eloper"
REDLANDS LAND HOLDING L.L.C.,
a Delaware limited liability company
By: Redlands Land Acquisition Company L.P.,
a Delaware limited partnership,
its sole member
By: Redlands Land Acquisition Company L.L.C.,
a Delaware Iimited liability company,
its general partner
By:
Name: Gern
Its:
.322727.1 001663.0006 3.15.2006-6:12 PM 3
MINUTES of a regular meeting of the Board of Directors of the Redevelopment Agency of
the City of Redlands held in the City Council Chambers, Civic Center, 35 Cajon
Street, at 3:58 P.M. on March 21, 2006.
PRESENT Jon Harrison, Chairperson
Pat Gilbreath, Vice Chairperson
Susan Peppler, Boardmember
Gilberto Gil, Boardmember
Mick Gallagher, Boardmember
ABSENT None
STAFF John Davidson, Executive Director; Daniel J. McHugh, Agency Attorney;
Michael Reynolds, Agency Treasurer; Don Gee, Redevelopment Agency
Director; Jeffrey L. Shaw, Community Development Director; and Lorrie
Poyzer, Agency Secretary
CONSENT CALENDAR
Minutes - The minutes of the regular meeting of March 7, 2006, were
unanimously approved as submitted on motion of Mrs. Gilbreath, seconded by
Mr. Gil_
Contract - Consultant Services - On motion of Mrs. Gilbreath, seconded by
Mr. Gil, the Board unanimously approved award of a contract for the
Redevelopment Implementation Plan Consultant Services to
GRC Redevelopment Consultants, Inc. in the amount of $19,000,00 for the
preparation of a Five-Year Implementation Plan for Fiscal Years 2005-2009
and a Ten-Year Affordable Housing Compliance Plan and authorized the
chairman to execute, and the fiecretary to attest to, the document on behalf of
the Agency.
Agreement and Amendment - Redlands Land Holding, LLC - On motion of
Mrs. Gilbreath, seconded by Mr. Gil, the Board unanimously approved the
third Exclusive Right to Negotiate Agreement and Second Amendment to
the Acquisition Funding Agreement with Redlands Land Holding, LLC for
the revitalization of the area bounded by Eureka Street, Pearl Avenue,
and Stuart Avenue for the proposed Promenade Project and authorized
the chairman to execute, and the Secretary to attest to, the document on
behalf of the Agency.
NEW BUSINESS
Meeting Attendance - No reports forthcoming.
PUBLIC COMMENTS
None forthcoming.
Redevelopment Agency
March 21, 2006
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