HomeMy WebLinkAbout2014-12-09; Public Financing Authority; Resolution 66EXHIBIT 1
1 RESOLUTION NO. 66
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A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD
PUBLIC FINANCING AUTHORITY APPROVING A GROUND LEASE
OPTION WITH GRAND PACIFIC RESORTS FOR THE PROPERTY
4 KNOWN AS THE CROSSINGS AT CARLSBAD WEST VIEW LOT 9.
5 WHEREAS, in August 2012, staff presented to a joint meeting of the City of
6 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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at Carlsbad West View Lot 9 (Lot 9); and
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2 2 WHEREAS, Lot 9 is a combination of two adjacent parcels: one a 2.7 acre parcel
12 owned by the City of Carlsbad, and a second 0.45 acre parcel owned by the Carlsbad Municipal
1^ Water District, for a total site area of 3.15 acres; 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
18, 2000, to provide for the financing of public capital improvements for the member agencies
and for other purposes as permitted under the Joint Powers Law as agreed to by the parties;
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2^ WHEREAS, CPFA issued proposals to solicit responses from parties interested in
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25 Water District, authorized CPFA to enter into exclusive negotiations with Grand Pacific Resorts
26 for the ground lease of the property known as The Crossings at Carlsbad West View Lot 9; and
WHEREAS, the City of Carlsbad conducted negotiations for, and will manage the
ground lease in its capacity as lease manager for CPFA; and
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developing Lot 9 under a long term ground lease; and
WHEREAS, CPFA evaluated the responses to the request for proposals and on
November 5, 2014, its two member agencies, the City of Carlsbad and the Carlsbad Municipal
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conditions in a ground lease option; and
WHEREAS, the proposed ground lease option provides that the City of Carlsbad,
as the lead agency under the California Environmental Quality Act (CEQA), and the CPFA, as a
1 WHEREAS, the City and Grand Pacific Resorts have negotiated mutually
2 satisfactory terms and conditions for a ground lease and propose to memorialize said terms and
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7 responsible agency, in their sole and absolute discretion, may certify or not certify an EIR or
8 other appropriate environmental document and may select any alternative, including the
^ alternative of not going forward with the proposed project, or may adopt any mitigation
measure or condition which they determine is necessary and appropriate to reduce or avoid
any potential environmental impact of the proposed project or to comply with any applicable
law or regulation; and
24 WHEREAS, the potential revenues generated from development of Lot 9 will be
15 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 applicable taxes or
fees associated with the development of the site distributed to the appropriate taxing
authority.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad
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21 Public Financing Authority, as follows
22 1 The above recitations are true and correct.
2. CPFA is a responsible agency for the project and will conduct the appropriate
environmental review required by CEQA. The ground lease option is not subject to separate
review under CEQA because it is merely an option agreement which may be exercised only if
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27 the City of Carlsbad, as the lead agency, and the CPFA certify and approve a final EIR or other
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1 appropriate environmental document for the proposed project in compliance with CEQA and,
2 therefore, the ground lease option does not constitute a binding commitment to proceed with
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the proposed project and the CPFA reserves its discretion to approve or disapprove all actions
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related to the ground lease and retains full discretion with respect to the environmental review
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, required by CEQA.
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7 3. CPFA approves a ground lease option between the Carlsbad Public Financing
8 Authority and Grand Pacific Resorts for the property known as The Crossings at Carlsbad West
View Lot 9.
4. CPFA has previously designated the City of Carlsbad as the member which will be
the lease manager for the ground lease option of Lot 9.
5. The City of Carlsbad is authorized to administer and manage the ground lease
14 option, and distribute any revenues generated from the long-term lease of Lot 9 on a per
15 square foot ownership basis and leasehold interest, with any applicable taxes or fees associated
with the development ofthe site distributed to the appropriate taxing authority.
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PASSED, APPROVED AND ADOPTED at a Special Meeting ofthe Carlsbad Public Financing
Authority held on the 9^^ day of December, 2014, by the following vote to wit:
AYES:
NOES:
ABSENT:
Board Members Hall, Packard, Wood, Schumacher, Blackburn.
None.
None.
MATT HALL, Chairman ofthe Board
ATTEST:
ARBARA ENGlSESQN. Secretary BARBARA ENGlS^SqN, Secretary
(SEAL)