HomeMy WebLinkAbout2002-11-19; City Council; Resolution 2002-3371
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I GKtI\B\T- L
RESOLUTION NO. 2002-337
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING AND AUTHORIZING THE
THE CITY OF CARLSBAD AND REAL ESTATE COLLATERAL
EXECUTION OF REIMBURSEMENT AGREEMENT BETWEEN
MANAGEMENT COMPANY FOR CONSTRUCTION WITHIN THE
CITY OF CARLSBAD, RANCHO SANTA FE ROAD REALIGNMENT
AND WIDENING, PHASE 1, PROJECT NO. 3190.
WHEREAS, the City Council of the City of Carlsbad, California, proposes to widen and
.ealign Rancho Santa Fe Road from La Costa Avenue to Melrose Drive pursuant to City Project
\lo. 31 90; and
WHEREAS, Real Estate Collateral Management Company (the "Developer") is the
leveloper of the City approved project known as Carlsbad Tract 99-04, La Costa Oaks (the "Oaks
'roject"); and
WHEREAS, the City and Developer desire to cooperate in the construction of
qancho Santa Fe Road to the mutual benefit of both parties; and
WHEREAS, Developer is currently constructing a portion of the grading and drainage
acilities for Rancho Santa Fe Road under a previously approved reimbursement agreement; and
WHEREAS, the previously approved reimbursement agreement acknowledged that City
md Developer would enter into another reimbursement agreement whereby City would construct
he outside lanes and curbs that are the responsibility of Developer, and Developer would
,eimburse the City for these and related expenses; and
WHEREAS, the City Engineer has determined that the City construction of the outside
anes and curbs will result in cost savings to CFD No. 2; and
WHEREAS, the City Council finds that Developer may enter into the Reimbursement
4greement between the City of Carlsbad and Real Estate Collateral Management Company for
:onstruction within the City Of Carlsbad, Rancho Santa Fe Road Realignment and Widening,
Jhase 1, Project No. 31 90 (the "Agreement") (a copy of which is attached hereto).
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NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Carlsbad,
California, as follows:
1. That the above recitations are true and correct.
2. That the agreement is hereby approved.
3. That the Mayor is hereby authorized to execute the Agreement with Real Estate
Collateral Management Company.
4. That the City Clerk is hereby authorized to cause the executed agreement to be
recorded in the Office of the County Recorder of San Diego County, State of California.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council
held on the 19th day of NOVEMBER , 2002 by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Finnila, Nygaard, Hall
(SEAL)
Page 2 of 2 of Resolution No. 2002-337