HomeMy WebLinkAbout1992-12-15; City Council; 11997; Notice Of Assignment Gateway Median AgmtCl-’ OF CARLSBAD - AGEVA BILL
RECOMMENDED ACTION:
Adopt Resolution No. qae3” approving the reassignment of rights under the Agreement for
Reimbursement of the Cost of Engineering and Construction of El Camino Real Median.
I ITEM EXPLANATION:
On May 6th, 1988, the City Council entered into a reimbursement agreement for a portion of the
El Camino Real median constructed adjacent to the Carlsbad Gateway project located just north
of Faraday Avenue. The developer of the Carlsbad Gateway project, DavisMlalterslGADCO
Carlsbad Gateway, now wishes to reassign their tights and entitlements under the reimbursement
agreement to one of their constituent general partners, the Great American Development
Company.
In accordance with the terms of the reimbursement agreement, any developer reassignment of
the rights or entitlement granted pursuant to the agreement must receive the written consent of
the City. Staff has reviewed the developer’s request for reassignment and has no objections.
I FISCAL IMPACT
There will be no fiscal impact to the City by virtue of this reassignment.
I EXHIBITS
1.
2.
Letter from DavisAValterslGADCO - Carlsbad Gateway requesting reassignment
Resolution No. 9a-361 approving the reassignment of rights under the Agreement for
Reimbursement of the Cost of Engineering and Construction of El Camino Real Median.
r' Iw CREATAMERICAN DEVELOPMENTCOMPANY
November 3, 1992
City Engineer
CITY OF CARLSBAD 2075 Los Palmos Drive Carlsbad, CA 92009
RE: Agreement for Reimbursement of Cost of Engineering & Construction of El Camino Real Median
Dear Sir:
Davis/Walters/GADCo - Carlsbad Gateway, a California general
partnership, entered into an agreement for reimbursement of cost of engineering and construction of a median on El Camino Real on May 6, 1988. A copy of said agreement is enclosed for your reference.
Davis/Walters/GADCo - Carlsbad Gateway (developer) desires to
assign its rights under the agreement to one of its constituent
general partners, Great American Development Company, a California
corporation. Pursuant to Section 4.6 of the agreement, consent of
the City of Carlsbad is required, not to be unreasonably withheld.
We would appreciate your granting of said consent by acknowledging
and approving this request at your earliest opportunity. All
reimbursements received pursuant to this agreement should be forwarded to the following address:
GREAT AMERICAN DEVELOPMENT COMPANY 6795 Flanders Drive, MC 5480 San Diego, CA 92121
Sincerely,
DAVIS/WALTERS/GADCO - CARLSBAD GATEWAY, a California general partnership
By: Great American Development Company, a California corporation, general partner
@BY:
President
By:
600 B STREET, SUITE 700. SAN DIEGO, CALIFORNIA 92101 (619) 231-6442 PD 777
City Engineer
November 3, 1992 Page Two
Per Paragraph 4.6 of the above-referenced agreement, consent to the
assignment of the rights of developer to Great American Development
Company is hereby granted.
CITY OF CARLSBAD, a municipal corporation in the State of
California
By:
1 )SS.
STATE OF CALIFORNIA COUNTY OF
'i-2AJm Twbq On w 3!(992 I ~~€043", , personally ap lb CeccRdpnCw-d I personally known to me (or proved
to me onut!l?e basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signatures(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my
Signature
hand and official seal.
RESOLUTION NO. 92-361
A RESOLUTION OF THE ClTY COUNCIL OF THE CR-Y OF CARLSBAD,
CALIFORNIA, APPROVINGTHE REASSIGNMENT OF RIGHTS UNDERTHE
AGREEMENT FOR REIMBURSEMENT OF THE COST OF ENGINEERING
AND
WHEREAS, the City of Carlsbad and Davis/Walters/GADCO - Carlsbad Gateway,
hereinafter referred to as “Developer”, did on May 6th 1988, enter Into a reimbursement
agreement entitled “Agreement for Reimbursement of Cost of Engineering and
Construction of El Camino Real Median” hereinafter referred to as “Reimbursement
Agreement”; and,
WHEREAS, the developer now wishes to reassign its rights and entitlements under
the reimbursement agreement to one of its constituent general partners, Great American
Development Company, a California corporation; and,
WHEREAS, Sections 3 and 4.6 of the Reimbursement~Agreement require that any
reassignment be receive the written consent of the City.
NOW THEREFORE BE R RESOLVED, in accordance with the terms and conditions
of the Reimbursement Agreement, the City Council does hereby :
1. Consent to the reassignment of the rights and entitlement provided the
Developer within said Reimbursement Agreement to Great American Development
Company, a California Corporation.
2. Direct the Finance Director to make payable to Great American
Development Company in accordance with the terms and conditions of the
Reimbursement Agreement any and all funds collected by the City pursuant to said
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Reimbursement Agreement. Said payments shall be mailed to Great American
Development Company at the following mailing address:
Great American Development Company
6795 Flanders Drive, MC 5460
San Diego, CA 92121
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City
Council held on the-day of December, 1992 by the following vote, to wit:
AYES: Council Members Lewis, Stanton, Kulchin, Nygaard and FillIlila
NOES: None
ABSENT:
ATTEST:
A \
(1 f,-~(,rC $y : .‘z La-.
ALETHA L. RAUTENKRANZ, City Clerk ‘)
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