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HomeMy WebLinkAboutRDA Res 69-05 1969-02-20 . , I '1 I , . . ~ RESOLUTION NUMBER 69-5 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH APPROVING AND AUTHORIZING THE EXECUTION OF AN OWNER-PARTICIPATION AGREEMENT WITH DOW",CHEMICAL COMPANY FOR THE RIVERFRONT REDEVELOPMENT PROJECT. WHEREAS, The Agency has undertaken redevelopment activities pursuant to the California Community Redevelopment Law; and WHEREAS, The Agency has prepared a Redevelopment Plan for the proposed Riverfront Redevelopment Project; and WHEREAS, Said Redevelopment Plan provides for the participation in the redevelopment of the Project area by the owners of property therein if the owners agree to redevelop their property in accor- dance with the Redevelopment Plan; and WHEREAS, The Agency has prepared rules governing the participation by owners in the proposed Redevelopment Project: and WHEREAS, The Dow Chemical Company is the owner of certain property in the Project area and desires to participate in the redevelopment of such property pursuant to the proposed rules and the Redevelop- ment Plan; NOW, THEREFORE, BE IT RESOLVED: 1. That the proposed "Property OWners Participation and Redevelopment Agreement" attached hereto as Exhibit "A" and incorporated herein is hereby approved. 2. That the Executive Director is hereby authorized to execute said Agreement with the Dow Chemical Company. PASSED, APPROVED, AND ADOPTED by the Redevelopment Agency of the city of Seal Beach at a meeting thereof held on the 20th day of February, 1969, by the following vote: AYES: NOES: ABSENT: Dreis, Hamilton, Fuhrman, Gummere Anderson, None None g~ M~ cJ.3ecretary . ::,'~'-.~;,~. . I. I I '. . . THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH .' RIVERFRONT REDEVELOPMEi'I"T PROJECT PROPERTY OWNERS PARTICIPATION AND REDEVELOPMENT AGREEMENT . This agreement, consisting of this text and the Exhibits attached hereto and made a part hereof (which text and Exhibits," are together this \ \ .&- hereinafter called "Agreement") made and entered into \-v--.~."--'-~ , 19_b~ by and between The day of Redevelopment Agency of the City o~ Seal Beach, (hereinafter re- ferred to as the "Agency"), and The Dow Chemical Company, (herein- after referred to as the "Participant"). RECITALS This Agreement is entered into with reference to the following facts: (a) The Riverfront Redevelopment Project Area has been found and designated as an area which requires redevelopment in the interest of health, safety and general welfare of the City of Seal Beach and the State of ~a1ifornia. (b) The Agency has prepared the proposed redevelopment Plan fur redevelopment of the Riverfront Redeve,1opment proj ect) " - ., .' '~ : . '. . . (hereinafter referred to:' 8:s the'''',',p1an''), which Plan' is sched:u1ed to be considered by a joint meeting of the Agency and Counci~ of , the ~ i . t ".:' ~"~. \,' City of Seal Beach on the 20th day of February,"1969, and which Plan is by reference incorporated herein and made a part of this Agree- ment with the same effect as though set forth in full herein. '. / I .. I' ~ 1 1 , " ... ~ (c) Parties hereto recognize and agree that the Plan is a plan for the improvement of real properties and living con- ditions within the area encompassed by said Plan and for the pre- vention of further blight therein. . (d) The Plan provides for the participation in the re- development of property in the Project Area by the own~rs of cer- tain parcels of property if the owners of such property agree to participate in the redevelopment in conformity wit~'the Plan by , entering into an agreement with the Agency, to effectuate certain improvements of such property. '., (e) The Participant is the owner of certain property in the project Area which is presently vacant land. " (f) The redevelopment of the 'Project Area will greatly benefit Participant's Property by the relocation of the existing sanitation plant, by the development of'needed public park facil- Ities~: and by the extension of First Street along Participant's' Property. __ NOW THEREFORE~ the Agency and the Participant (for the consideration and under the conditions herein set forth) for the benefit of themselves do understand and agree for themselves and their assigns" successors, or future owners of said described real property and of all owners of real property in the Project, as follows: I.. [5100] PARTIES TO THE AGREEMENT A. [5101] The Agency The Agency is a public body, corporate and politic, exer- cising governmental functions and powers and organized and existing " , , " ! -2- I., 1 I ... :;0, under the Community Redevelopment Law of the State of California. The office of the Agency is located 201 Eighth Street, Seal Beach, California. , , B. [~102] The Participant The Participant is a corporation duly organized and ex- isting under the ~aws of the State of Delaware. Participant's address for purposes of this Agreement is 350 Sansome Street, San Francisco, California. C. [~103] Assignment and Sale Participant may transfer or sell the entire Property and assign this Agreement to any financially responsible third party without any approval of the Agency provided such purchaser shall be bound by all of the terms and conditions of this Agreement. Parti- cipant shall promptly notify tre Agency of any proposed transfer or sale of the Property and shall advise any prospective purchaser or transferee of the terms of this Agreement. II. [~200] PROPERTY OWNERSHIP AND CONVEYANCE A. [~201] Existing Property Ownership -- The Participant is the present owner of certain property described in Exhibit "A" attached hereto and by this reference made a part hereof (herein referred to as "Property"). The Participant also owns an abutting strip of land outside the Project area in the County of Los Angeles between the Project area and the San Gabriel River Flood Control Channel. The parties recognize that said addi- tional strip outside the Project area is not subject to Agency con- ~ tro1, but participant agrees to use said additional property in a manner compatible with the, development to be constructed upon participant's Property. -3- . -:, ... ~ I' 1 1 , -, B. [5202] Property To Be Acquired By The Agency Participant agrees to convey to the Agency a strip of land ten feet in width along the entire southeasterly boundary of participant's Property without any charge to the Agency to enable the Agency to construct the proposed First Street extension from Marina Avenue to Pacific Coast Highway. participant shall not be required to convey said portion of the Property to the Agency until the Agency submits evidence to participant that it has suf- ficient funds to proceed with the construction of the First Street extension from the southerly most corner of Participant's Property to Pacific Coast Highway. [5203] ACluisition by the Agency in the Event of De ault by the Participant The Agency desires to forego its legal right to acquire C. the Property by purchase or eminent domain to enable the Participant to use and develop the Property in accordance with the Redevelopment Plan as more particularly described herein, provided that certain . agreements, restrictipns, and covenants be imposed upon the use of., the property and are carried out in accordance with thi.s agreement. In the event of default or breach'of this agreement or -- any of its terms or conditions by the Participant, the Agency may pursue the remedy thereof by all means of enforcement'both in equity and law provided by the 1a~s of the State of California. If there is any such default or breach by Participant, the Agency shall have the additional right to purchase any portion of the Property on which the development is not completed. The amount to be paid the Participant shall be the fair market value of the Property to be acquired with existing improvements as of the , , date of purchase ~y Agency. If the Agency and the Participant are unable to agree upon the fair market value of the property to be -4- . I:. 1 1 acquired by the Agency, the Agency may institute an action in emi- nent domain to acquire all of the Property of Participant. .' ..".. III. [5300] SCOPE OF DE'VELOPMENT A. [5301] Scope of Deve100ment . The Participant shall construct or cause to be constructed the improvements set forth in Exhibit "B" attached hereto and by this reference incorporated herein (herein referred to as "Scope of Development"). The Participant agre~s and covenants to develop the Property in conformance with the Plan and the terms of this Agreement. B. [5302] Schedule of Development The participant shall commence and complete the develop- ment according to the schedule set forth in Exhibit "C", (herein referred to as "Schedule of Development"). " C. [5303] Construction Drawings and Related Documents The Participant shall prepare and submit construction drawings and related documents to the Planning Commission and Building Department for review and written approval as and at the times established in the Schedule of Development. The construction drawings and related documents shall be submitted in three stages, schematic, preliminary, ~nd final. In the event the drawings and related documents are not acceptable to both the Planning Commission and the Building Department, the Participant agrees to amend said documents as may reasonably be required by said Department and Commission. D. [5304] Completion of Development Promptly after completion of the improvements upon the Property in accordance with the provisions of this Agreement, the ." -5- '/ ~..... ...-. I, : 1 1 , . , . Agency shall furnish the Participant with a recordable certifiw cate of completion. Such certification by the Agency shall be a conclusive determination of Participant's satisfaction of this , . Agreement and shall terminate the obligations of Participant, its successors and assigns, with respect 'to the construction of the im- . provements hereunder. IV. [5400] USE OF THE PROPERTY; COVENANTS, CONDITIONS AND RESTRICTIONS, " The Participant covenants and agrees for itself, its successors, its assigns and every successor in interest to the Prow perty or any part thereof, that: 1. The Participant, such successors, and such assignees shall devote the Proper.ty to uses specified in the Redevelopment Plan, as it now exists or is hereafter amended in accordance with the provisions of this Agreement. " 2. There shall be no discrim~nation against or segrew gat ion of any person, or group of persons, on account of race, color, creed, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or ,enjoyment of the Property nor shall the Participant himself or any person claiming under or through him establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sub1essees, or vendees of the Property. The Participant agrees to'record a declaration of the above covenants and restrictions. ,/ V. [5500] GENERAL PROVISIONS A. [5501] Rights of Obligees The provisions of this Agreement do not limit the right of obligees to foreclose or otherwise enforce any mortgage, deed of trust or other encumbrance upon the Property, or the right of obligees to pursue any remedies for the enforcement of any pledge .., or ,lien upon the Property provided, however, that in the event of , , , -6- I ..... I. 1 1 a fo~ec10sure sale under any such mortgage, deed of trust, or , . ~.. - 'other lien or encumbrance, or sale pursuant to any power or sale ~ontained in any such mortgage or deed of trust, the purchaser or purchasers and their successors and assigns, and the Property, shall be and shall continue to be subject to all the conditions, restrictions and covenants herein provided for. B. [5502] Agency Employees, Members No member, official, or employee of the Agency shall have any personal interest, direct or indirect, inthis Agreement, nor I shall any such member, official, or employee participate in any decision relating to this Agreement, which affects his personal interests or the interests of any corpor~tion, partnership, or asso- ciation in which he is, directly or indirectly, interested. No member, official, or employee of the Agency shall be personally liable to the Participant or any successor in interest in the event of any default or breach by the Agency or for any amount which may , become due to the Participant or successor or any obligations under the terms of this Agreement. C. [5503] Amendment of Plan The Redeve1op~ent Plan shall not be amended in any way that would substantially affect Participant's Property without obtaining the prior written consent of Participant to any proposed amendment thereto. " The Agency and the City of Seal Beach agree to use their best efforts to amend the Plan to expand the boundaries of the Pro- ject area to include all properties located along the northwesterly boundary of the Project to the Orange County and Los Angeles County Line or the San Gabriel Flood Control Channel, whichever is nearer to the present proj'ect boundary. ' " -7- " ,. I.., I 1 ------ ---------- - -- - -- --.-- -- .;- . ". , ~I. [5600] TERMINATION OR CONTINUANCE A. [5601] Adoption of Plan <. In the 'event the Council of the City of Seal Beach fails to adopt and approve the Plan on or before April 30, 1969 this Agreement shall automatically terminate and neither party shall have any further right or obligation hereunder. B. [5602] Financing of Public Improvements If within five years from the date of this Agreement nei- ther the City nor the Agency is able to obtain the financing for: (1) the relocation, of the existing sewer treatment plant and the construction of a new plant or provision for the pumping of sewage to other facilities; and (2) the extension of First Street from the southerly most corner of Participant's Property to Pacific Coast Highway; then the Agency may terminate this Agreement upon thirty days written notice to Participant and after expiration of such thirty day period neither party shall have any further rights or obligations hereunder. Participant shall not be required to commence construction - of any improvements on its Property if financing for the Public Im- provements described above has not been obtained by the City or the Agency. Participant agrees to cooperate with the Agency in giving its reasonable assurances of development in accordance with this Agreement where necessary for the Agency or the City to obtain such financing for such public improvement. -- C. [5603] Financing of Participant's Development If Participant is unable to obtain adequate financing for the development described in the Scope, of Development prior to the time required for commencement of construction, Participant may ter- . minate this Agreement upon thirty days written notice to the' Agency, -8- ..... ..- I.' I, '~; in which event the Agency shall have the right to purchase Parti- cipant's property as provided in Section 203. If Participant 'terminates this Agreement pursuant to this Section 603, the Agency shall have a period of one hundred and eighty days from receipt of written notice from the participant within which to exercise . its right to purchase Participant's Property. . .' D. [5604] Clearance of Title If upon the date required for commencement of construction a title problem prevents Participant from obtaining adequate financ- ing, the time allowed for commencement of construction shall be extended for a period of not to exceed one year. If construction has not co~~enced within said extended period Participant may as its option terminate this Agreement upon thirty days written notice to the Agency, in which event the Agency shall have the right to purchase participant's Property as provided in Section 203. If Participant terminated this Agreement pursuant to this Section 604, , the Agency shall have a period of one hundred and eighty days from '='~--"--"receipt of written exercise its right 1 notice from the Participant within which to to purchase Participant's Property. The Agency and the Parttcipant have executed this Agreement as of the date first above written. " REDEVELOP~IENT AGENCY OF THE CITY OF SEAL BEACH Byd~:~- ~ - Executive D~rector ,j"~<,',I'H',, -. .' .. ( THE DOO CHEMICAL COMPANY ! i / / ' '(>1 I (/('A' ? :'. {J{/ft.1"- ,By, tX ~"v~'<.( t .I Assistant Secretary -9- " ...... ..."';. '0 EXHIBIT "A" PARTICIPANT'S PROPERTY 1 The real property in the City of Seal Beach, County of Orange, State of California, more part~cu1arly described as follows: Being portions of Lots 1 and 2 of Tract No. 1077, as per map thereof recorded in Book 18, Pages 194 and 195 of Maps, in the office of the County Recorder of Los Angeles County, California; also a portion of the San Gabriel River as shown on said map of Tract No. 1077; also a portion of Lot 2 of San Gabriel Ex- tension of Naples as per map thereof recorded in Book 7, Page 31 of Miscellaneous Maps in the office of the County Recorder of Orange County, California; also a portion of the San Gabriel River as shown on said Map of San Gabriel Extension of Naples, described as follows: 1 Beginning at the intersection of the Southwesterly line of said Lot 2 of San Gabriel Extension of Naples with the Northwesterly line of that one hundred (100.00) foot strip of land conveyed by San Gabriel River Improve- ment Co. to Los Angeles Gas and Electric Corporation by dee~ dated July 24, 1924; thence North 42018' West along the Northeaster~y line of the Pacific Electric Railway Company's Right of Way (200 feet wide) five hundred two and thirty-three hundredths (502.33) feet to its inter- section with the Southeasterly boundary of that flood control channel (400 feet wide) conveyed by San Gabriel River Improvement Co. to the Los Angeles County Flood '. Control District and dated October 2, 1931; thence along the Southeasterly boundary of said flood control channel (400 feet wide) as follows: North 54000'45" East, one thousand two hundred thirty and thirty-four hundredths (1,230.34) feet to the beginning of a tangent curve con- cave to the Northwest and having a radius of two thousand _~our hundred (2,4~0.00) feet; thence Northeasterly along last mentioned curve, two hundred fifty and eighty hun- dredths (250.80) feet to the Westerly line of State Street as conveyed by San Gabriel River Improvement Co. to the State of California by deed dated November 25, 1929; thence Southerly along State Street, six hundred twenty- nine and thirty-two hundredths (629.32) feet to the North- westerly line of that one hundred (100.00) foot strip of land conveyed to Los Angeles Gas and Electric Corpora- tion; thence South 54046'30" West along last mentioned line, one thousand eighty and five hundredths (1,080.05) feet to the point of beginning. 1 EXCEPTING that portion thereof situated in the City of Long Beach, State of California. .' " t:.. ......... ,I ' 1 1 1._.. EXHIBIT "B" SCOPE OF DEVELOPMENT Participant shall construct on the Property a development of residential buildings with landscaped open spaces and parking . facilities, all as suggested below, and all in conformance with the Redevelopment Plan. Average residential density shall be 2P to 60 units per acre. The amount of land covered by buildings (not including parking structures) shall not exceed 392,040 square feet. There shall be no maximum building heights. The ratio of gross floor area of buildings to gross parcel area upon which they are situ- ated shall not exceed 2.5 to 1. Parking spaces shall be provided in a minimum of 1-1/2 off- street parking spaces for each bachelor, single, or two-bedroom dwelling unit and two off-street parking spaces for each dwell- ing unit with three or more bedrooms. A minimum of one parking space per unit shall be contained within a garage or carport. In addition. adequate SUest parking shall be provided. All utilities 'on the Property shall be underground or enclosed. ---Zoning will be changed by the City to permit the foregoing development. The Agency or the City, at no expense to Participant, shall construct the extension of First Street from the southerly most corner of Participant's Property to Pacific Coast Highway. Said street extension sha~l be approximately 120 feet in width and con- tain a landscaped middle divider. All utilities along said First Street extension between the southerly boundary of Participant's Property and Pacific Coast Highway shall be placed underground .' or enclosed at no expense to Participant. '.';: .y. -' 1 1 1 -' All street construction work shall comply with the secondary highway specifications of Orange County. All utilities serving the Property shall come in from First Street or Pacific Coast Highway within the Project boundaries. The Agency shall use its best efforts to have a traffic . signal installed at the point where the First Street extension intersects Pacific Coast Highway. ,-- - , / " , , " ,,. i - 2 - .. ~.""'. '. ... I:. '. 1 1 . . EXHIBIT "C" SCHEDULE OF DEVEI,OPMENT .~I. Schematic Plans - participant shall pre- pare and submit schematic plans to the City Planning Commission and Building Department. AtProva1 - Schematic Plans - The City Panning Commission and Building De- partment shall both approve or dis- approve the schematic plans. Submission - Preliminary Working Draw- ings and Related Documents - Participant shall prepare and submit to the City Plan- ning Commission and Building Department preliminary working drawings, and land- scaping and parking plans. A rova1 - pre1imina Workin an e ate ocuments - e 1ty ann1ng Commission and Burraing Department shall both approve or disapprove the Preliminary working drawings, and landscaping and parking plans. Submission - Final Working Drawin~s. Land- scaling and Parking Plan - Partic1pant sha 1 pr~pare and submit to the City Planning Commission and Building Depart- ment final construction working drawings, and a final landscaping, finish grading, and parking plan. Approval - Final Working Drawings and Landscaping and parkin~-'Plan - The City Planning Commission an Building Depart- ment shall both approve or disapprove the final construction working drawings, and final landscaping, grading and parking plan. Commencement of Constriction. Participant shall commence construction hereunder. Comt1etion of Construction. Participant sha 1 complete the construction of improve- ments. .' Conveyance of Street Area to A~ency. Participant shall convey the I foot strip of its property to the Ag~ncy for the First Street extension. On or before February 1, 1971. Within 30 days after receipt; failure to approve or disa\l- prove within sa1d period, shall be deemed approved. On or before February 1, 1972. Within 30 days after receipt; failure to approve or disap- prove within said period, shall be deemed approved. On or before February 1, 1974. Within 30 days after receipt; failure to approve or disp- prove within said period, shall be approved. On or before February 1, 1974, or after approval of final working drawings and plans whichever is later. On or before February 1, 1976. " ',' After Agency has sub- mitted evidence satis- factory to Participant that it has funds available for the con- struction of the First Street extension'a10ng participant's Property. , _ ._..___.i . _ ~ _. I I Ij . _ I ~ ~'4.'" .... .,.,- .. : .. j I,,; , , I 1 1 , , ' ,I Installation of First Street Extension. Agency or City shall complete installation of the First Street extension adjacent to Participant's Property including sidewalks, curbs, storm drains, gutters, street light- ing , and cause utility installations to be completed along said street extension. Financi~ for Relocation of Existing Sewer Plant. gency or City shall have 0 tained the financing for the new sewer treatment plant or pumping facility for transfer or sewage to other plants. Com let ion of Relocation . ant. - gency or ty s a ave comp eted construction of a new sewer treatment plant or transfer facilities and shall have re- located the existing sewer plant. --' - .' , , -2- , '-. Prior to completion of Participant's construction. On or before February 1, 1974, or before commencement of con- struction on Parti- cipant's Property, whichever is earlier. Prior to completion of construction on Participant's Pro- perty. , .