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HomeMy WebLinkAbout1972-11-21; City Council; 934; TRI-CITY AUTO DEALERS ASSOCIATION ROAD7-*-' •THE CITY OF CARLSBAD, C A L -I F' O f Agenda Bill No. ^3^ Date: _N Referred To: Subject: Submitted By: Tri-City Auto Dealers Association Road City Attorney Leaseback Agreement Statement of the Matter As reported to the Council in my Memorandum of November 9, 1972, it is necessary to restructure the Agreement with the Auto Dealers regarding the construction of the frontage road between Cannon Road and Palomar Airport Road. Negotiations between the City Attorney and the Dealers' attorney, with assistance from the City Manager and the City Engineer, have been held for the purpose of drafting a lease- leaseback agreement. Advice of Bond Counsel will be sought and cost details and the rental payments will be fixed. Every effort will be made to complete the agreement by the 21st. However, it may be necessary to continue the matter. Exhibit 1. Draft lease, if complete, will be attached hereto. It may be necessary to distribute after the agenda closing. 2. Resolution authorizing Mayor to execute lease.(Resol.#3020) Staff Recommendations Council review the agreement and if it is acceptable, authorize the Mayor to execute the lease by adopting Resolution ' ***"" RB Wo. Date: 11-13-72 City Manager's Recommendation Concur Council Action -2-