RES-ORA-0295 Participation Agreement by and between Redevelopment Agency and Enterprise Rent A Car Company of Los Angeles, Inc.RESOLUTION NO. ORA 0295
A RESOLUTION OF THE ORANGE REDEVELOP-
MENT AGENCY APPROVING AND AUTHORIZING
THE EXECUTION OF A PARTICIPATION AGREE-
MENT BY AND BETWEEN THE ORANGE REDEVELOP-
MENT AGENCY AND ENTERPRISE RENT A CAR
COMPANY OF LOS ANGELES, INC.
WHEREAS, the Orange Redevelopment Agency ("the Agency") isa duly
constituted redevelopment agency and is undertaking certain activities necessary for
redevelopment under the provisions of the California Community Redevelopment Law
HeaJlth and Safety Code Section 33000, et seq.) and pursuant to the Redevelopment Plan
the "Plan") for the Tustin Street Redevelopment Project Area (the "Project"); and
WHEREAS, pursuant to the California Community Redevelopment Law, the
Agency may establish a program under which it loans funds to owners or tenants for the
purpose of rehabilitating commercial buildings or structures within a project area; and
WHEREAS, the Agency and Enterprise Rent a Car Company of Los Angeles, Inc.,
Nevada corporation (the "Participant"), propose to enter into a Participation Agreement (the
Agreement") under which the Agency would provide assistance to the Participant based
upon the provision of an operation covenant by participant relative to the conduct of certain
business activities defined in the Agreement as "Conforming Business Activities" (including
the sale of automobiles), to induce Participant to make certain improvements to the site to be
utilized by the Participant, which site is certain property situated within the Project Area, as
mor,e particularly described in the Agreement (and which property constitutes the "Site"),
and to induce the owner of the Site to execute and cause to be recorded as to the Site an
Agreement Affecting Real Property", which is Attachment No.5 to the Agreement; and
WHEREAS, the Participant represents and warrants to the Agency that it has entered
into a lease or that, subject to the Agency and the Participant first entering into this
Agreement, the Participant and Lloyd Copenbarger, Trustee of the Hazel I. Maag Revocable
Living Trust under Declaration of Trust, dated December 9, 1986 (the "Owner") are
prepared to enter into a lease for a term of not less than fifteen (15) years with at least one
optlon to extend for five years (the "Lease") providing for occupancy by the Participant of
the Site and operation of its Conforming Business Activities as set forth in the Agreement;
andl
WHEREAS, the Owner has agreed and consented to the recordation of covenants
pertaining to the Site and has further agreed and consented that the Agency may treat the
Participant as an "Owner Participant" pursuant to the Redevelopment Plan and Owner
Participation Rules as adopted by the Agency; and
WHEREAS, the Agency has duly considered all terms and conditions of the
proposed Agreement and believes that the redevelopment of the Site pursuant thereto is in
the best interests of the City of Orange and the health, safety, and welfare of its residents,
and in accord with the public purposes and provisions of applicable state and local laws and
requirements.
NOW, THEREFORE, BE IT RESOLVED by the Orange Redevelopment Agency
as follows:
Section 1. The Agreement is hereby approved, and the Agency Executive Director is
authorized and directed to execute the Agreement on behalf of the Agency. A copy of the
Agreement when executed by the Agency shall be placed on file in the office of the Agency
Clerk.
SectioIlI 2. The Executive Director of the Agency (or his designee) is hereby
authorized and directed to take any appropriate action consistent with the purposes of this
Resolution and the Agreement approved hereby to cany out and implement the Agreement
on behalf of 1the Agency and to administer the Agency's obligations, responsibilities and
duties to be p(~rformed pursuant to the Agreement.
Section 3. The Agency Clerk shall certify to the adoption of this Resolution.
APPROVED AND ADOPTED this 12th day of September 1995.
fiairman, Orange Redevelop
I, Cassandra J. Cathcart, Clerk of the Orange Redevelopment Agency, do hereby
certify that the foregoing Resolution No. 0295, was introduced and adopted at a regular
meeting provided by law of the Orange Redevelopment Agency held on the 12th day of
Seoternbe:r 19'95, by the following vote of the members thereof:
2-
AYES:
NOES:
ABSENT:
ABSTAIN:
AGENCY MEMBERS: MURPHY, BARRERA, COONTZ, SPURGEON, SLATER
AGENCY MEMBERS: NONE
AGENCY MEMBERS: NONE:
AGENCY MEMBERS: NONE:
AND I FURTHER certify that the Chairman of the Orange Redevelopment Agency
signed said Resolution No. 0295 on the 12th day of September, 1995.
1
A4J~-IlM l (! ~.uA;;t-
Clerk of the Or~ge Redevelopment
Agency
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ora0295 dg