CC - 1980-22 - Disposition and Development Agreement with CA Federal Savings adn Loan Association0
RESOLUTION NO. 80-22
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ROSEMEAD APPROVING AN AMENDMENT
TO THE DISPOSITION AND DEVELOPMENT
AGREEMENT WITH CALIFORNIA FEDERAL SAVINGS
AND LOAN ASSOCIATION
WHEREAS, the Redevelopment Plan for the-Rosemead Redevelopment
Project No. 1 has been duly adopted; and
WHEREAS, the Disposition and Development Agreement attached
hereto as Exhibit "A" and the amendment thereto marked Exhibit "B"
have been prepared for purposes of carrying out said Redevelopment.
Plan: and
WHEREAS, a public hearing, has been duly held pursuant to
Article II, Chapter 4, Part 1 of the California Health and Safety
Code; and
WHEREAS, the development pursuant to the Disposition and
Development Agreemeht,as amended, is consistent with both the City's
General Plan and the Rosemead Redevelopment Plan for Project Area
No. 1; and
WHEREAS, an
have been prepared
California Environs
conclusion of said
have a substantial
reasons:
environmental
on the propos
nental Quality
environmental
effect on the
assessment and negative declaration
=_d development pursuant to the
Act and the State Guidelines. The
review is that the project will not
environment for the following
A. This project is consistent with policies shown on the
General Plan for the City of Rosemead.
B. No unique or significant natural features will be
adversely effected.
C. The project will not result in a substantial detrimental
effect on air or water quality, nor ambient noise levels
for adjoining areas.
D. The project will not breach any public, State, or
National standards relating to solid waste or litter
control.
E. The project will not create any hazard in flooding,
erosion or siltation.
F. The project is not subject to major geologic hazards.
G. The project will not result in the need for public
services beyond those presently available or proposed
in the near future.
H. The project is not apparent to generate environmental
controversy.
S.
• •
NOW, THEREFORE, the City Council of the City of Rosemead
does hereby resolve, determine and order as follows:
SECTION 1. The City Council hereby finds and determines
that the Di- sp ion and Development Agreement attached hereto as
Exhibit "A", as amended by Exhibit "B" - "Amendment to Disposition
and Development Agreement" and incorporated herein by reference
and the sale of the land pursuant to said Agreement as amended
are in the best interests of the citizens and merchants of the
City of Rosemead and are in conformity with the Redevelopment Plan
and that the consideration to be paid pursuant to said Agreement
is not less than fair market value in accordance with covenants
and conditions governing the use of said property.
SECTION 2. The Disposition and Development Agreement,
as amen ed a~the sale of land pursuant thereto are hereby
approved.
SECTION 3. The City Council further finds and determines
that a negative declaration has been prepared on the proposed
development in conformity with C.E.O.A. and the guidelines adopted
pursuant thereto and no further environmental assessment needs to be
prepared with respect to the development contemplated by this
Disposition and Development Agreement, as amended.
PASSED, APPROVED and ADOPTED THIS 28th day of April
MAYOR
ATTEST:
r
CITY CLERK
, 1980.
-2-
•
ATTACHMENT NO. 3
0
SCHEDULE OF PERFORMANCE
1)
Execution of Agreement by Developer.
No later than November 26,
Agreement authorized, executed and
1979.
delivered by the Developer to the
Redevelopment Agency.
2)
Execution of Agreement by the
No later than November 30,
Redevelopment Agency. Agreement
1979.
authorized, executed and delivered
by the Agency.
3)
Commencement of Property Acquisition.
December 7, 17379.
Agency shall commence acquisition
of Site.
4)
Opening of Escrow. Executed copy
within 15 days of the
of Agreement delivered to Escrow
written request by
Agent.
Developer.
5)
Completion of Rezoning. Site
No later than January 15,
rezoned to permit the Development.
1980.
6)
Schematic Plot Plan and Basic
February 19, 1980.
Concept Drawings. Developer
shall prepare and submit to the
Agency for its approval basic
concept drawings and related
documents.
7)
Approval of the Basic Concept
Within 10 days of receipt
Drawings. Agency approves, or
by the Agency. (February
gives reasons for disapproving,
25, 1980)
basic concept drawings and related
documents.
8)
Re-submission of the Basic
Within 20 days following
Concept Drawings. Developer
any disapproval by the
shall re-submit basis concept
Agency.
drawings in accordance with
the Agency directives, if
disapproved.
9)
Approval of the Basic Concept
Within 10 days of receipt
Drawings. Agency approves basic
by the Agency of re-sub-
concept drawings and related
mitted drawings.
documents, as re-submitted.
10)
Delivery of Possession of Site
No later than March 15,
to Developer. Insurable leasehold
1980.
interest in Site delivered to
Developer by Agency.
11) Submission of Grading Plans May 15, 1980.
includinq Preliminary Plans.
Developer shall submit construc-
tion drawings, landscaping plan
and grading plan to the Agency and
the City Staff.
12) Commencement of Construction. June - July, 1980.
• 9
13) Approval of the Grading Plans November 30, 1980.
including Preliminary Plans.
The Agency and the County Building
Department shall approve, or give
reasons for disapproving, the final
working drawings, the landscaping
and the finish grading plans.
14) Re-submission of Final Construction Within 20 days of
Drawings. The Developer shall re- receipt of Agency
submit final drawings, reflecting input by the Developer.
the Agency's input if disapproved.
15) Approval of the Final Construction December 8, 1980.
Drawings by the Redevelopment Agency.
The Agency and the County Building
Department shall approve the final
working drawings, the landscaping
plan and the finish grading plan, as
re-submitted.
16)
Building Permits. The Developer
Within 4
weeks following
shall obtain all required permits
approval
of the final
for construction of Developer's
construction drawings
by
improvements on the Site.
the Agency and County
Building
Department.
17)
Completion of the Acquisition
No later
than December
31,
of the Site. Legal title to the
1980.
Site is acquired by the Agency.
18)
Conveyance of Title to the Site
No later
than December
31,
to the Developer. Legal title
1980.
to the Site is conveyed by the
Agency to the Developer. Escrow
closed.
19) Completion of Development of September of 1981.
of Completion.
20) Recordation of the Certificate September of 1981.
of Completion. ,
AMENDIME,NT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
r
THIS AMENUM,?NT TO AGREEMrNT is entered into by and
between the ROSE,%1EAD REDEVELOPMENT AGENCY ("Agency") and
CALIFORNIA FEDERAL. SAVINGS AND LOAN ASSOCIATION, a federally
chartered savings and loan association ("Developer"). The Agency
and Developer agree and amend their previous Agreement as follows:
1. Section 508(c) of the Disposition and Development
Agreement is hereby deleted.
2. Section 508(d) of the Disposition and Development
Agreement is hereby amended by the substitution of "May 1, 1980"
in place and.instead of "March 15, 1980".
3. Section 605 of the Disposition and Development
Agreement is hereby amended by the inclusion of the following:
Notwithstand..ng anything to the contrary contained
herein, until Developer has reported to the Federal Home Loan
Bank Board, after November,1980, a net profit before taxes
for three consecutive months, it shall have no obligation to
commence construction of the Development and shall not be deemed
in default hereunder as a result of such delay.
4. Attachment No. 2, of the Disposition and Development
Agreement, Part.A-Purchase Price, is hereby amended by the
substitution of the following:
A. Purchase Price
The purchase price for the site under Section 201.
of this Agreement shall be the sum of $2,500,000.00 (Two Million
Five Hundred Thousand Dollars), plus costs.i.ncurred by the Agency
for appraisals, negotiations with property owners, legal fees and
costs, costs of expert witnesses in connection with acquisition and
condemnation proceedings, escrow costs and costs of clearing title
to the Site. The maximum amount of costs incurred by the Agency
shall not exceed $25,000 without the approval of the Developer,
which approval shall not be unreasonably withheld.
5. Attachment No. 3, Schedule of 3?orTormance, is hereby
amended to provide as follows:
i
C~
0
ATTACIINIENT NO. 3
SCHEDULE OF PERFORMANCE
1)
Execution of Agreement by Developer.
No later than November 26,
Agreement authorized, executed and
1979. (Completed)
delivered by the Developer to the
Redevelopment Agency.
2)
Execution of Agreement by the
No later than November 30,
Redevelopment Agency. Agreement
1979. (Completed)
authorized, executed and delivered
by the Agency.
3)
Commencement of Property Acquisition.
December 7, 1979.
Agency shall commence acquisition of
(Completed)
Site.
h)
Opening of Escrow. Executed copy of
Within 15 days of the
Agreement delivered to Escrow Agent.
written request by
Developer. (Not applicable)
5)
Com2leti.on of Rezoning. Site
No later than January 15,.
re-zoned to permit the Development.
1980. (Completed)
6)
Schematic Plot Plan and Basic
February 1.9, 1980.
_
Concept Drawings. Developer
(Completed)
shall prepare and submit to the
Agency for its approval basic concept
drawings and related documents.
.7)
-Approval of the Basic Concept Drawings.
Within 10 days of receipt
Agency approves, or gives reasons for
by the Agency. (February 25,
disapproving, basic concept drawings
1980). (Completed)
and related documents.
8)
Re-submission of the Basic Concept
Within 20 days following
Drawings. Developer shall re-submit
any disapproval by the
basic concept drawings in accordance
Agency. (Not:.applicable)
with the Agency directives, if
disapproved.
9)
Approval. of the Basic. Concept Drawings.
Within 10 days of receipt
Agency approves basic concept drawings
by the Agency,of re-:-submitted
and related documents, as re-submitted,
drawings. (Not appl:i..a.ble)
10)
Delivery of Possession.of Site to
No later than May 1, 1980.
interest
Devel-oper. Insurable imxs ako U;
p
in Site delivered to Developer 1Jje
Agency.
11)
Submission of Grading Plans including
November 1, 1950.
Preliminary Plans. Developer shall
subr~'i.t cons truction.draw:i.ngs,
landscaping plan, grading plan, and
precise plan for design review to the
Agency and the City Staff.
12)
Commencement of'Constructi.on.
November 1, 1980.
13)
Approval. xf the Grading Plan.
December 31, 1.980.
including Preliminary Plans. The
Agency and the Cou"LY Building
Department shall approve, or give
reasons for disapproving, the final
working drawings, I'lle landscaping
and the l'lnish grad i 11 t{ plA11S.
i
ATTACIEMENT NO. 3
SC1113DULS OF PERFOINiANCPs
CONTINUED
14) Re-submission of Final Coll strucCion
Drawing's. The Developer shall re-
submit final drawings, reflecting
the Agency's input if disapproved.
15) Approval of the Final_ Construr..t:i.on
Drawings by the Redevelopment Agency.
The Agency and the County Building
Department shall approve the final.
working drawings, the landscaping plan
and the finish grading plan, as
re-submitted.
16) Building Permits. The Developer
shall obtain all required permits
for construction of Developer's
improvements on the Site.
17) . Completion of the Acquisition o:1
the Site. Legal title to the Site
is acquired by the Agency.
18) Conveyance of Title to the State to
lie Developer. Legal title -to the
Site is conveyed by the Agency to
the Developer.
19) Completion of Development.
.20) Recordation of the Certificate of
Completion.
Within 20 days of receipt
of Agency input by the
Developer.
January 31, 1981.
Within four (4) weeks following
approval of the final
construction drawings by
the Agency and County
Building Department.
No later than May 1, 1980.
No later than May 1, 1980.
February 1, 1.982.
February 1, 1982.
NOTE: All dates for items 11-20 are subject to the
provisions of Section 605, as amended.
1
1980
Date o Execution by Agency
ROSEMEAD REDEVELOPMENT AGENCY
By
/ iairman
By L~/Cm 1 Ta~e~cwae
. ecretar
"AGENCY"
/ 1 1980
Dat of Execution by Developer
CALIFORNIA FEDERAL SAVINGS
AND LOAN ASSOCIATION
By m a~ lJt~'-"' "
61 --vice President
BY
Assistafit Secretary
"DEVELOPER"
1
r
r
r