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 '
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RB Wo. Date: 11-13-72
City Manager's Recommendation
Concur
Council Action
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