RES-ORA-0284 Approving Second Amendment to Disposition and Development AgreementRESOLUTION NO. ORA-
0284 A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING A SECOND AMENDMENT
TO DISPOSITION AND DEVELOPMENT
AGREEMENT BETWEEN THE ORANGE REDEVELOPMENT AGENCY
AND HOME DEPOT U.S.A., INC., AND XTRA LEASE,
INC.WHEREAS, the Orange Redevelopment Agency (the "
Agency")is engaged in activities necessary to execute and
implement the Redevelopment Plan (the "Redevelopment Plan") for
the Northwest Redevelopment Project (the "Project");
and WHEREAS, the Agency and Home Depot U.S.A., Inc.,
a Delaware corporation (the "Developer") entered into
a certain Disposition and Development Agreement dated as
of June 24, 1991, (the "DDA"), which was approved by the
Agency by its Resolution No. ORA-225 as adopted on May
28, 1991,with respect to two certain parcels of property
as more particularly described in Attachment No. 2 to
the DDA Parcel No.1" and "Parcel NO.
2"); and WHEREAS, the DDA provides that the Agency is
to make certain payments to the Developer upon the
Developer first satisfying certain conditions precedent as set
forth in Sections 203 and 204 of the DDA (
the "Conditions
Precedent"); and WHEREAS, the Developer has completed
construction of that construction required on Parcel No. 1 by the DDA
and is operating a full-service Home
Depot store; and WHEREAS, Agency and Developer amended
the original DDA pursuant to a certain First Amendment
to Disposition and Development Agreement by and between
the Orange Redevelop-ment Agency and Developer ("First
Amendment"), executed by the Agency on July 25, 1993. References
made to the Amended DDA" shall mean the original DDA as
amended by the
First Amendment; and WHEREAS, XTRA Lease, Inc., a
Delaware corporation (the Buyer") is under contract to purchase
the land designated as Parcel No. 2 in the Amended DDA on which
Buyer intends to develop a leasing yard for semi-
truck trailers consisting of an approximately 1500 square
foot office building and parking for up to
approximately 200 trailers; and WHEREAS, in satisfaction of
the requirements of Section 107 of the Amended DDA and pursuant to
Section 900 of the Amended DDA, Agency, Developer and Buyer
wish to enter into a Second Amendment in order to,
among other things, specify Buyer's limited rights and obligations
under the Amended DDA with respect to
WHEREAS, the parties intend that Buyer shall have no
obligations under the Amended DDA with respect to Parcel No.
1 and, except as specifically provided in the Amended DDA,
Developer shall have no obligations under the Amended DDA
with respect to Parcel No.2; and
WHEREAS, the parties to the Amended DDA have determined
that certain provisions of the Amended DDA no longer best
serve the mutual interests of the parties and that the
interests of both will be advanced by the approval of that
certain document entitled "Second Amendment to Disposition
and Development Agreement By and between the Orange
Redevelopment Agency and Home Depot U.S.A., Inc., and EXTRA
Lease, Inc." in the form submitted herewith (the "Second
Amendment"); and
WHEREAS, the activities contemplated by the Second
Amendment have been previously evaluated pursuant to the
California Environmental Quality Act ("CEQA"); and
WHEREAS, all actions required by all applicable law
with respect to the proposed Second Amendment have been
taken in an appropriate and timely manner; and
WHEREAS, the City Council has duly considered all terms
and conditions of the proposed Second Amendment and believes
that the disposition 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 Agency hereby finds and determines,
based upon substantial evidence provided in the record
before it, that the consideration for the disposition of
certain real property pursuant to the Second Amendment is
not less than the consideration which the Agency was
entitled to pursuant to the Amended DDA.
section 2. The Agency hereby finds and determines
that the Second Amendment, will promote the elimination of
blight within the Project Area by encouraging the reuse and
redevelopment of a portion of the Project Area which was
declared blighted and will further encourage the continued
operation of a highly-visible commercial use
which stimulates business activity within the Project
Area.ora 0284
section 3. subject to the consent of the City
Council being obtained, the Agency hereby approves the
execution of the Second Amendment and authorizes and directs
the Chairman or the Executive Director of the Agency to
execute the Second Amendment on behalf of the Agency. A
copy of the Second Amendment when executed shall be placed
on file in the office of the Agency Clerk. The Executive
Director of the Agency is authorized to implement the second
Amendment and take all actions and execute all escrow
documents and other documents necessary or appropriate to
carry out the Second Amendment.
Section 4. The Agency Clerk shall certify to the
adoption of this Resolution.
ADOPTED this 11 th day of D<>cernber
7
1994.
ATTEST:
Redevelopm
i.__'
hJ1r-" ~ {)..~~e~.J
C erk, Or ge R ev~opment gency
I hereby certify that the foregoing Resolution was duly and
regularly adopted by the Orange Redevelopment Agency at a regular
meeting thereof held on the 13 th of December , 1994, by
the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
DIRECTORS: MURPHY, BARRERA, COONTZ, SPURGEON, SLATER
DIRECTORS: NONE
DIRECTORS: NONE
DIRECTORS: NONE
fit<M~g~Clerk, Ora e e ve ment Agency
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