Res 00-121RESOLUTION NO. 00-121
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA
APPROVING A FIVE-YEAR TIME EXTENSION
FOR THE POWAY CORPORATE CENTER DEVELOPMENT AGREEMENT
WHEREAS, on December 11, 1990, the City of Poway ("City") adopted Ordinance
No. 331 approving the execution of the Poway Corporate Center Development Agreement
#836 ("Development Agreement") between the City and Tech Business Center
("Develope¢') which provided for the development of Poway Corporate Center
("Development "); and
WHEREAS, the Development Agreement became effective on January 10, 1991,
and Section 4 of the Development Agreement defines the Term of the Agreement to be ten
years from the date of execution of the Development Agreement (which ten-year period
expires on January 10, 2001); and
WHEREAS, Section 4 of the Development Agreement provides that, if, at the end of
the Term, Developer is in the process of developing the property and the construction of at
least fifty percent of the Development has been completed, the Term shall be extended
until such construction is completed, not to exceed an additional five years after expiration
of the initial Term; and
WHEREAS, On November 22, 2000, the Developer submitted a letter requesting
that the City confirm the extension of the Term of the Development Agreement, and
provided information demonstrating that at least fifty percent of the Development has been
completed; and
WHEREAS, the City has reviewed the records pertaining to the Development and
determined that, by reason of Government Code Sections 66452.11 and 66452.13, Units 2
and 3 of Poway Corporate Center have been automatically extended until January 10,
2004 and do not require a time extension as of the date of this Resolution; and
WHEREAS, the City has reviewed the work accomplished under the Development
Agreement and determined that more than fifty percent of Poway Corporate Center, Unit 1
has been completed and also determined that the Developer has demonstrated good faith
compliance with the terms of the Development Agreement.
NOW, THEREFORE, the City Council of the City of Poway does resolve as follows:
Section 1. The City Council hereby finds that the foregoing statements are true and
correct, and incorporated herein.
Section 2. The City Council hereby finds that the construction of at least fifty
percent of Poway Corporate Center, Unit 1, has been completed and that the Developer
has demonstrated good faith compliance with the terms of the Development Agreement.
Resolution No. 00- 121
Page 2
Section 3. The City Council hereby approves a five-year extension to the Term of
the Development Agreement, as it pertains to Poway Corporate Center Unit 1, which five-
year extension shall expire on January 10, 2006.
PASSED, ADOPTED and APPROVED by the City Council of the City of Poway at a
regular meeting thereof this 19th day of DecemberMichae12000.p. cr-a ~ '~)~1~
ATTEST:
~"~ri ~A"nne peOples, City
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Lori Anne Peoples, City Clerk of the City of Poway, do hereby certify under the
penalty of perjury that the foregoing Resolution, No. 00-121was duly adopted by the City
Council at a meeting of said City Council held on the 19th day of December, 2000, and that
it was so adopted by the following vote:
AYES: EMERY, GOLDBY,
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
HIGGINSON, REXFORD, CAFAGNA
"L'~rJAnne 15'eoples, (~,ity Cl~rk-
City of Poway