RRA - Item 2 - Extension of Pre-Negotiation Agreement Letter Between The Rosemead Redevelopment Agency and Jr PropertiesROSEMEAD REDEVELOPMENT AGENCY
8838 VALLEY BLVD., ROSEMEAD, CA 917709(818)288-6671 • Telecopier 8183079218
TO: HONORABLE CHAIRMAN
AND MEMBERS
ROSEMEAD REDEVELOPMENT AGENCY
FROM: ~n FLANK G. TRIPEPI, EXECUTIVE DIRECTO
DATE: `APRIL 4, 2001
RE: EXTENSION OF PRE-NEGOTIATION AGREEMENT LETTER BETWEEN
THE ROSEMEAD REDEVELOPMENT AGENCY AND JR PROPERTIES
At the February 27th Meeting, the Agency authorized the Executive Director to sign a pre-
negotiation agreement between JR Properties and the Rosemead Redevelopment Agency. The
purpose of the agreement was to provide JR Properties an exclusive period of time, until March
30, to secure approval of Kroger Corporation, the parent corporation of Ralphs/Food 4 Less, for
the development of the 6+ acre site at the northeast comer of Temple City and Valley
Boulevards. The project would include a grocery store of approximately 57,000 square feet and
6,000 square feet of retail/restaurant space.
Mr. Jeff Rothbard of JR Properties is requesting an extension of the letter until April 20'" in
order to provide additional time to secure approvals from Kroger Corporation. The Corporation
deferred discussion of this item until their April 19th committee meeting.
Attached is a letter of extension and a copy of the original letter and attachments from the
February 27th Meeting.
RECOMMENDATION
It is recommended that the Rosemead Redevelopment Agency authorize the extension of the
letter and direct the Executive Director to sign the extension.
Ccstaffextemionjrpmperrie ga mem
ITEM No. a-
AGENCY AGEI
APR 1Q.2001
ROSEMEAD REDEVELOPMENT AGENCY
1 8838 VALLEY BLVD., ROSEMEAD, CA 91770 • (818) 288-6671 • Telecopier 8183079218
April 5, 2001
Jeff Rothbard
JR Properties
24461 Ridge Route Drive, Suite 200
Laguna Hills, CA 92653
Re: Extension of Term of Pre-Negotiation Agreement.
Dear Mr. Rothbard:
The purpose of this letter is to extend the pre-negotiation period set forth in a February 27, 2001,
letter agreement, (the "Agreement") between JR Properties ("Developer") and the Rosemead
Redevelopment Agency ("Agency").
The exclusive period set forth in the Agreement is hereby extended until April 20, 2001, to provide
Developer additional time to secure Site approval and the terms and conditions of a lease with
Kroger Corporation, the parent corporation of Ralphs/Food 4 Less. All other terms of the
Agreement shall continue unmodified.
Respectfully
Frank Tripepi
Executive Director
Approved.
JR Properties
Date:
Chairperson, Rosemead Redevelopment Agency
Date: