Res 99-043RESOLUTION NO. 99-043
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA
APPROVING THE OWNER PARTICIPATION AGREEMENT BY AND BETWEEN
THE POWAY REDEVELOPMENT AGENCY AND TECH BUSINESS CENTER, LLC,
A CALIFORNIA LIMITED LIABILITY COMPANY,
AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH
WHEREAS, the Poway Redevelopment Agency (the "Agency") is a community
redevelopment agency organized and existing under the California Community
Redevelopment Law, Health and Safety Code Section 33000 et seq., and has been
authorized to transact business and exemise the powers of a redevelopment agency
pursuant to action of the City Council of the City of Poway (the "City Council"); and
WHEREAS, the City Council, acting pursuant to the provisions of the California
Community Redevelopment Law (Health and Safety Code Section 33000 et seq.), has
adopted the Community Redevelopment Plan (the "Plan") for the Paguay
Redevelopment Project (the "Project Area") by Ordinance No. 117; and
WHEREAS, the Agency entered into that certain Owner Participation Agreement
with Tech Business Center, a California general partnership ("Developer") dated as of
November 27, 1990, which provided for the development of the Poway Corporate
Center and construction of certain public improvements, among other things (the
"PCCOPA"), and the Agency also entered into that certain Owner Participation
Agreement with Developer, dated as of November 27, 1990, which provided for the
development of the Tech Business Center and construction of certain public
improvements, among other things (the "TBCOPA"); and
WHEREAS, due to economic conditions throughout the region, neither the
Poway Corporate Center nor the Tech Business Center has developed at the pace
envisioned by Agency and Developer at the time of execution of the PCCOPA and the
TBCOPA, and further, the development of the Poway Corporate Center and the Tech
Business Center is no longer feasible under the economic assistance package set forth
in the PCCOPA and the TBCOPA; and
WHEREAS, Participant is the Developer's successor in interest to the Site; and
WHEREAS, in order to carry out and implement the Redevelopment Plan the
Agency proposes to enter into that certain Amended and Restated Owner Participation
Agreement (the "Agreement") with Tech Business Center, LLC, a California limited
liability company (the "Participant") to provide for the development of certain property
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Resolution No. 99-043
Page 2
(the "Site") in the Project Area as an industrial park, and the construction of certain
public improvements (the "Public Improvements"), all as described in the Agreement;
and
WHEREAS, the City of Poway made environmental findings and approved
Tentative Tract Map TTM86-02R, and TTM97-01 for the Site and the environmental
documentation prepared adequately addresses the environmental effects and feasible
mitigation measures associated with the Agency's approval of the Agreements; and the
proposed project pursuant to the California Environmental Quality Act, specifically
Section 21083.3 of the Public Resources Code;
WHEREAS, pursuant to Section 33445 of the California Community
Redevelopment Law, Health and Safety Code section 33000 et seq., the Agency may,
with the consent of the City Council, pay all or part of the cost of construction of public
improvements after making certain determinations; and
WHEREAS, pursuant to Section 33444.6 of the California Community
Redevelopment Law, Health and Safety Code section 33000 et seq., the Agency may
assist with the financing of facilities or capital equipment for industrial or manufacturing
purposes after making certain determinations; and
WHEREAS, the Agreement requires the Agency to make certain payments to
Participant to enable Participant to finance development of the Site and construction of
the Public Improvements, and to purchase from Participant such Public Improvements,
which obligation to make payments is contingent upon Participant's successful
development of the Site and construction of such Public Improvements, and which
obligation to make payments constitutes an indebtedness of the Agency within the
meaning of Section 33670 of the California Community Redevelopment Law, Health &
Safety Code sections 33000 et seq.; and
WHEREAS, a joint public hearing of the Agency and the City Council on the
proposed Agreement was duly noticed and posted in accordance with the requirements
of applicable laws; and
WHEREAS, all actions required by all applicable law with respect to the
proposed Agreement have been taken in an appropriate and timely manner; and
WHEREAS, the Agency has duly considered all terms and conditions of the
proposed Agreement and believes that the disposition of the Site pursuant thereto is in
the best interests of the City of Poway and the health, safety, and welfare of its
residents, and in accord with the public purposes and provisions of applicable state and
local laws and requirements.
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Resolution No. 99- 043
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway
as follows:
Section '1. The City hereby finds and determines that the Public Improvements
are of benefit to the project area and the immediate neighborhood in which the Site is
located.
Section 2. The City hereby finds and determines that no other reasonable
means of financing the Public Improvements are available other than the assistance
provided for in the Agreement.
Section 3. The City hereby finds and determines that the payment of funds for
the cost of the Public Improvements will assist in the elimination of blighting conditions
within the Project Area, and is consistent with the implementation plan for the
Redevelopment Plan.
Section 4. The City consents to and approves the execution of the Agreement
with such changes mutually agreed upon by the Participant and the Agency Executive
Director as are minor and in substantial conformance with the Amended and Restated
Owner Participation Agreement which has been submitted herewith, and a copy of the
Agreement when executed shall be placed on file in the office of the City Clerk. The
Executive Director of the Agency is authorized to implement the Agreement and
execute all escrow documents and other documents necessary to carry out the
Agreement.
Section 5. The City Clerk shall certify to the adoption of this Resolution.
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Resolution No. 99-043
Page 4
PASSED, ADOPTED AND APPROVED by the City Council of the City of Poway
at a regular meeting this 22nd day of June, 1999.
ATTEST:
Michael P.
~r
Lori-Anne Peoples, Cit~; c]er[( '
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Lori Anne Peoples, City Clerk of the City of Poway, do hereby certify under
penalty of perjury that the foregoing Resolution No. 99-043 was duly adopted by the
City Council at a meeting of said City Council held on the 22nd day of June, 1999, and
that it was adopted by the following vote:
AYES: GOLDBY, HIGGINSON, CAFAGNA
NOES: NONE
ABSENT: EMERY, REXFORD
ABSTAIN: NONE
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663116. ! ~22345.0o71
Lori Anne Peoples, Cit~, Clerk
City of Poway