HomeMy WebLinkAbout2013-11-05; City Council; Resolution 1483EXHIBIT 3
1 RESOLUTION NO. 1483
2 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD
3 MUNICIPAL WATER DISTRICT AUTHORIZING THE CARLSBAD
PUBLIC FINANCING AUTHORITY TO ENTER INTO EXCLUSIVE
4 NEGOTIATIONS WITH GRAND PACIFIC RESORTS FOR THE GROUND
LEASE OF THE PROPERTY KNOWN AS THE CROSSINGS AT
CARLSBAD WEST VIEW LOT 9 AND TO ACT ON BEHALF OF THE
CARLSBAD MUNICIPAL WATER DISTRICT IN ALL FUTURE
DECISIONS AND ACTIONS RELATED TO THE GROUND LEASE OF
7 THE PROPERTY
WHEREAS, in August 2012, staff presented to a joint meeting of the City of
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Carlsbad City Council and the Carlsbad Municipal Water District Board of Directors, a group of
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underutilized properties for their consideration and direction; and
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WHEREAS, included in these properties was a parcel referred to as the Crossings
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J3 at Carlsbad West View Lot 9 (Lot 9); and
14 WHEREAS, Lot 9 is a combination of two adjacent parcels: Parcel A, one 2.7 acre
15 lot owned by the City of Carlsbad and Parcel B, a second 0.45 acre lot owned by the Carlsbad
Municipal Water District; and
WHEREAS, the City of Carlsbad and the Carlsbad Municipal Water District are
member agencies ofthe Carlsbad Public Financing Authority (CPFA), which was created on April
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2Q 18, 2000 to provide for the financing of public capital improvements for the member agencies;
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22 WHEREAS, CPFA issued proposals to solicit responses from parties interested in
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developing Lot 9 under a long term ground lease; and
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WHEREAS, CPFA has evaluated the responses to the request for proposals and
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recommends to both member agencies that CPFA be authorized to enter into exclusive
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27 negotiations with Grand Pacific Resorts for the ground lease of The Crossings At Carlsbad West
28 View Lot 9; and
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lease manager for CPFA; and
WHEREAS, the potential revenues generated from development on the
combined Lot will be apportioned between the City of Carlsbad and the Carlsbad Municipal
Water District based upon a per square foot ownership basis and leasehold interest, with any
1 WHEREAS, the City of Carlsbad will conduct the negotiations in its capacity as
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7 applicable taxes or fees associated with the development of the site distributed to the
8 appropriate taxing authority.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad
Municipal Water District, California, as follows:
1. The above recitations are true and correct.
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13 2. The Carlsbad Municipal Water District hereby authorizes the CPFA to enter into
14 exclusive negotiations with Grand Pacific Resorts for the ground lease of The Crossings at
Carlsbad West View Lot 9 and to act on behalf of the Carlsbad Municipal Water District in all
future decisions and actions related to the ground lease ofthe property.
3. As lease manager for the CPFA, the City of Carlsbad will negotiate the ground
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19 lease and make recommendations to the CPFA regarding ground lease terms and conditions.
4. As lease manager, the City of Carlsbad will also administer and manage the lease
of Lot 9, and distribute any revenues generated from the long-term lease of Lot 9 on a per
square foot ownership ratio basis, with any applicable taxes or fees associated with the
development ofthe site collected and used by the appropriate taxing authority.
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PASSED, APPROVED AND ADOPTED at a Special Meeting of the Carlsbad
Municipal Water District Board of Directors, City of Carlsbad City Council and Carlsbad Public
Financing Board held on the 5th day of November 2013, by the following vote to wit:
AYES:
NOES:
Board Members Packard, Wood, Blackburn.
Board Member Hall.
ABSENT: Board Member Douglas.
ATTEST:
BARBARA ENGLESON, Secrej;fry
(SEAL)
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