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HomeMy WebLinkAboutReso RDA 6-1995 RESOLUTION NO. 6-95 REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO STATE OF CALIFORNIA A RESOLUTION APPROVING AN EXCLUSIVE NEGOTIATING RIGHTS AGREEMENT WITH REST INVESTMENTS RELATED TO THE "FINGERS" PORTION OF ASSESSOR'S PARCEL MAP NO. 015-180-020 WHEREAS, the City owns property identified as APN no. 015-180- 020 which includes the property customarily identified as the "Fingers" portion; and WHEREAS, the subject property is located within the Downtown Central Redevelopment Area; and WHEREAS, REST Investments proposes to construct a commercial parking facility on property it currently owns and a portion of the "Fingers" property owned by the City. NOW, THEREFORE, BE IT RESOLVED by the Board of the Redevelopment Agency of the City of South San Francisco that the Executive Director is hereby authorized to approve the Exclusive Negotiating Rights Agreement, attached hereto, and to sign said agreement. I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Redevelopment Agency of the City of South San Francisco at a requ]ar meeting held on the 8th day of November , 1995 by the following vote: AYES: Boardmembers Jack Dra~lo, Joseph A. Fernekes, Roberta Cerri Teglia and Chairman Robert Yee NOES: None ABSTAIN: None ABSENT: B0ardmember John R. Penna Clerk Redevelopment Agency of the City of South San Francisco Finger~.RDA RESOLUTION NO. 6-95 EXCLUSIVE NEGOTIATING RIGHTS AGREEMENT BETWEEN REST INVESTMENT, THE CITY OF SOUTH SAN FRANCISCO, AND THE REDEVELOPMENT AGENCY OF SOUTH SAN FRANCISCO RELATED TO THE "FINGERS" PORTION OF ASSESSOR'S PARCEL MAP NO. 015-180-020 This Agreement dated November , 1995 is entered into between REST Investment, a California Partnership, (hereinafter "REST"), the City of South San Francisco, a Municipal Corporation (hereinafter "City") and the South San Francisco Redevelopment Agency, a Public Body Corporate and Politic, hereinafter "Agency"). RECITALS WHEREAS, the City owns property identified as APN 015-180-020 which includes the property customarily identified as the "Fingers" portion and which is more fully described in Exhibit A hereto; WHEREAS, the subject property is located within the Downtown Central Redevelopment Area and is therefore subject to Agency jurisdiction; WHEREAS, the Agency desires to obtain the subject property from the City; WHEREAS, REST desires to lease the subject property and to combine the subject property with property it currently owns and to construct a commercial parking facility to provide parking for airport patrons; WHEREAS, the Agency desires to enter into an Exclusive Negotiating Rights Agreement with REST to fulfill the purpose as set forth herein; AGREEMENT NOW, THEREFORE, REST, the Agency, and the City hereby agree as follows: 1. The proposed development includes construction by REST of an 1100 space, multi-story, commercial parking facility and additional surface parking on the three middle fingers. In addition, the development will include construction by REST of an open space/park area on the southernmost Fingers property. 2. This Exclusive Negotiating Rights Agreement shall be effective for 180 days. If all parties are making reasonable efforts to fulfill the tasks identified herein, the City Manager, on behalf of the City, and the Executive Director on behalf of the Agency, may extend the term of this Agreement for not more than 60 days. Reasonable efforts on behalf of REST, shall be defined to include timely submission of all information requested by the City. 3. City and Redevelopment Agency agree that they will initiate efforts to convey the City-owned property identified as the subject property herein, to the Agency. 4. REST will commence application for appropriate land use approvals including a general plan amendment, conditional use permit/planned unit development. 5. REST further agrees that it will, within 60 days obtain, at its own cost, a survey and legal description of the two triangular pieces of property, one currently owned by the City, and one currently owned by REST, which it desires to exchange. 6. REST further agrees that, within 60 days, it will, at its own cost, obtain a survey and legal description for the revised alignment of the current city easement across the property owned by REST, and that it will prepare a draft amended easement reflecting the new alignment. 7. REST further agrees that it will deposit necessary funds with the City for preparation of the appropriate environmental review documents for consideration by the City/Agency. 8. City/Agency will, within 60 days, prepare a draft lease document for the "Fingers" portion of the subject property. 9. City, Agency, and REST agree to work together to identify appropriate public access and amenities to satisfy BCDC requirements. 10. City, Agency, and REST shall work together to prepare a draft maintenance and liability sharing agreement for the Fingers area dedicated to use as a shoreline/open space area. 11. As this ENRA is prepared and executed prior to completion of appropriate environmental review documents, nothing contained herein shall obligate the City or Agency to approve any OPA, DDA, or ground lease negotiated pursuant to this ENRA. The City shall retain complete authority to determine whether or not to convey the Subject Property to the Agency. The City and Agency, as appropriate, shall retain complete authority to review and approve or deny any OPA, DDA, or ground lease negotiated pursuant to this ENRA. The city, Agency and REST do agree, however, to negotiate on the terms of the OPA, DDA, or ground lease in good faith and the city and Agency agree not to negotiate for the sale or lease of the Subject Property during the term of the ENRA, provided that the Developers are complying with the terms of this ENRA. REST Investment Date Robert E. Simms Mike Wilson, City Manager Date City of South San Francisco Executive Director Date Redevelopment Agency of South San Francisco APPROVED AS TO FORM: Steven T. Mattas City Attorney/Agency Counsel a:\f'u~crs.cnr