HomeMy WebLinkAbout1978-08-01; City Council; 3481-16; Plaza Camino Real ExpansionCITY OF CARLSBAD
AGENDA BILL NO. 3WL -
DATE: August 1, 1978
Initial:
Dept . Hd.
C, Atty. v,d
DEPARTMENT: City Attorney C, Mgr,
Subject: PLAZA CAMINO REAL EXPANSIOPJ -- EXCHANGE AGREEMENT AND
ESCROW INSTRUCT IONS
Statement of the Matter
The basic agreement, dated November 5, 1975, as amended, between the City, Parking Authority and Plaza Camino Real, provides for a property exchange for the Bullock's Store site. A memorandum from the City Attorney, dated July 26, 1978, explaining this matter in detail is attached. The documents necessary to effect the Bullock's land exchange
have been prepared and are on file with the City Clerk and
are incorporated by reference herein. The resolution approving the documents is attached.
Exhibits
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1. The Exchange Agreement and Escrow Instructions is on file in the office of the City Clerk.
2. Resolution No. 5<& P*
3. City Attorney's memorandum to Mayor and City Council,
dated July 26, 1978.
Recommendation
If the City Council concurs and wishes to approve the
Bullock's land exchange, your action is to addpt Resolution
No. 55db .
Council action
8-1-78 The matter was continued to an adjourned meeting to be held August 3, 1978.
8-3-78 Resolution #5500 was adopted, approving the Bullock's land exchange.
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RESOLUTION NO. 5500
A RESOLU'j'ION OF THE CITY COtJNCIL OF
THE CITY OF CARLSBAD, CALIFORNIA
APPROVING AND AUTHOR1 ZING THE
EXECUTION OF AN EXCHANGE AGREEMENT
AND ESCROW INSTRUCTIONS AND ALL
RELATED DOCUMENTS MADE EXHIBITS
THERETO BETWEEN THE CITY OF CARLSBAD,
THE PARKING AUTHORITY AND THE PLAZA
CAMINO REAL TO EFFECT THE BULLOCK'S
LAND EXCHAVGE. -
WHEREAS, the Agreement, dated 5 November 1975, as amended,
by and between the City of Carlsbad, Parking Authority and Plaza
Camino Real, provides for the expansion of the Plaza Camino Real
Regional Shopping Center; and
WHEREAS, Section 2.8 of said Agreement provides for an
exchange of land between the parties to create a site which will
accommodate the Bullock's Store; and
WHEREAS, an Exchange Agreement and Escrow Instructions has
been prepared which is acceptable to all parties and which will
carry out. the contemplated land exchange;
NOW, THEmFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad as follows:
1. That the above recitationsare true and correct.
2. That the Exchange Agreement and Escrow Instructions
between the City of Carlsbad, Parking Authority and Plaza Camino
Real,,which is on file with the City Clerk and incorporated by
reference herein, is hereby approved.
3. That the Mayor of the City of Carlsbad is hereby
authorized and directed to execute said agreement for and on
behalf of the City of Carlsbad.
4. That the Mayor of the City of Carlsbad is hereby
a
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authorized and directed to execute the Amendment to Lease Agreement
and Amendment to Plaza Camino Real Public Parking Lot Operaking
Agreement, attached as Exhibits "D" and 'IF" respectively to the
Exchange Agreement: and Escrow Instructions, for and on behalf of
the City of Carlsbad. an adjourned
PASSED, APPROVED AND ADOPTED at / regular meeting of the
City Council of the City of Carlsbad, California, held on the
3rd day of Auqu~t , 1978 by the following vote to Wit:
AYES : Councilmen Packard, Skotnicki, Lewis and Anear
NOES : None
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ABSENT: Councilwoman Casler
ATTEST :
W (SEAL)
2.
MEMORANDUM
DATE : July 26, 1978
TO : Mayor and City Council
FROM : City Attorney
SUBJECT: BULLOCK ' S LAND EXCHANGE
As the Council may recall, the site for the Bullock's Store as
proposed will be partially located on land that is presently a
part of the existing public parking lot. The City Council
dealt with this problem in Section 2.8 of the basic Agreement
between the City, Parking Authority and Plaza Camino Real for
the Center expansion. Section 2.8 provides, in pertinent part:
"Before construction is commenced on the Bullock's
Store, arrangements acceptable to the City and the
Parking Authority must be made to convey such land to Developer. As a condition precedent to such
conveyance, Developer shall convey to the Parking
Authority by Grant Deed the equivalent acreage else-
where in the Center as shown on the Site Plan. Said acreage shall be at least equal in area to the land conveyed by the Parking Authority and shall be improved by Developer in the same manner as the land conveyed by
the Parking Authority and! shall be of at least equal
value and utility for parking purposes."
Your Attorney, Bond Counsel and the Developer's Attorney have completed negotiations on those documents necessary to carry
Section 2.8 into effect. That agreement is set out in the
document entitled "Exchange Agreement and Escrow Instructions".
In my opinion, that document carries out the parties' intent as
expressed in the basic Agreement for the Bullock's land exchange. Attached to the document as exhibits are the other documents which must also be executed and approved in order to effect the land exchange. They include the following:
Exhibit "C" : Grant Deed from the Parking Authority
to Plaza Camino Real (Developer)
Exhibit 'I D" : Amendment to the Lease Agreement between
the Parking Authority and the City
Exhibit "E" : Grant Deed from the Plaza Camino Real (Developer) to the Parking Authority
Exhibit "F" : Amendment to the Plaza Camino Public Parking Lot Operating Agreement
Mayor and City Council -2- July 26, 1978
In adopting the resolution approving the Exchange Agreement and
Escrow Instructions, the Council is also approving and authorizing the execution of all of those documents.
If the Council has any questions about the terms of these
documents, it is my intention to respond to them at the Council's
meeting of August 1, 1978.
VINCENT F. BIONDO, JR.
City Attorney
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