HomeMy WebLinkAbout2006-05-02; City Council; Resolution 2006-110RESOLUTION NO. 2006-110
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING AND AUTHORIZING THE
EXECUTION OF FIRST AMENDED AND RESTATED
REIMBURSEMENT AGREEMENT FOR CONSTRUCTION WITHIN
THE CITY OF CARLSBAD, RANCHO SANTA FE ROAD NORTH
REALIGNMENT AND WIDENING, (PHASE 1, PROJECT NO. 3190;
HCP FRONTAGE WORK: PHASE 2. PROJECT NO. 3907).
WHEREAS, the City of Carlsbad proposes to widen and realign Rancho Santa Fe Road
from La Costa Avenue to Melrose Drive pursuant to City Project No's. 3190 & 3907; and
WHEREAS, Real Estate Collateral Management Company (the "Developer") is the
Developer of the City approved project known as Carlsbad Tract 99-04, La Costa Oaks (the "Oaks
Project"); and
WHEREAS, the City and Developer desire to cooperate in the construction of Rancho
Santa Fe Road North to the mutual benefit of both parties; and
WHEREAS, the City and developer desire to amend and restate the previous
reimbursement agreement to include the Rancho Santa Fe Road North Phase 2 portion of the
project; and
WHEREAS, the City Engineer has determined that construction of the outside lanes, curb
and gutter, sidewalk and street lights at this time will result in cost savings to CFD No. 2; and
WHEREAS, adequate funds to reimburse the Developer for constructing Rancho
Santa Fe Road improvements exist with the fees collected pursuant to the proposed CFD No. 2
and Developer has agreed to reimburse City for their share of the costs.
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.
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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 2nd day of May , 2006 by the following vote, to wit:
AYES: Council Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None/
ABSENTj
LORRAINE M. WOOD, City Clerk (SEAL)