HomeMy WebLinkAboutReso RDA 42-1983 RESOLUTION NO. 42
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
A RESOLUTION AUTHORIZING EXECUTION OF
A THIRD AMENDMENT TO THE OWNER
PARTICIPATION AND DEVELOPMENT AGREEMENT
BE IT RESOLVED by the Redevelopment Agency of the City of South San
Francisco that:
1. Execution.
Execution of the Third Amendment to the Owner Participation and
Development Agreement by and among the Redevelopment Agency of the City of
South San Francisco, the City of South San Francisco and Homart Development
Company, which Amendment is attached hereto as Exhibit "A" and is incorporated
by reference herein, is hereby au~thorized.
2. Signatures.
The Chairman is authorized to execute said Agreement on behalf of
the Redevelopment Agency and the Executive Director attest his signature
thereto.
adjourned
PASSED AND ADOPTED at a_/regular meeting of the Redevelopment Agency of
the City of South San Francisco on this 24th day of August , 1983,
by the following vote:
AYES: Members Ronald G. Acosta, Mark N. Addiego, and Gus Nicolopulos
NOES: None
ABSENT: Members Emanuele N. Damonte and Roberta Cerri Te.qlia
Chairman
~lj ~ OL~A~ ~~ Redevelopment Agency of the
City of SoUth San Francisco
Execi~Fti ve Di rector
Redevelopment Agency of the
City of South San Francisco
EXHIBIT "A"
THIRD AMENDMENT
OWNER PARTICIPATION AND DEVELOPMENT AGREEMENT
This Third Amendment to Owner Participation and Development Agreement
is made this day of , 1983, by and among CITY OF
SOUTH SAN FRANCISCO, a municipal corporation (hereinafter called "City"),
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO, a public body., corp-
orate and politic (which, together with any successor public body or officer
hereafter designated by or pursuant to law is hereinafter called "Agency"),
duly created, established and authorized to transact business and to exercise
its powers, all under and pursuant to the Community Development Law of the
State of California (Part 1 of Division 24 of the California Health and Safety
Code) and have its office at the City Hall, 400 Grand Avenue, in the City of
South San Francisco, California, and HOMART DEVELOPMENT CO. (hereinafter called
"Developer").
RECITALS
WHEREAS, City, Agency and Developer have entered that certain Owner
Participation and Development Agreement (hereinafter called the "OPA") dated
as of March 19, 1981 in connection with the Redevelopment Plan for the South
San Francisco Gateway Redevelopment Project which provides for the r~development
of an area located in the City of South San Francisco (hereinafter called the
"Project Area"); and
WHEREAS, City, Agency, Developer and Genentech, Inc. executed a First
Amendment to the OPA on December 30,1981 and a Second Amendment to the OPA on
June 15, 1983; and
WHEREAS, Paragraph 2.2.3 of the Owner Participation and Development
Agreement, as amended by said First and Second Amendments, provides that no party to the
OPA shall be subject to any liability whatsoever for a failure to reach an
agreement following negotiations r'equired in Section 2.2 of the OPA, except
that if an agreement is not reached by August 31, 1983 pursuant to which:
(i) the Project's impact on the Oyster Point Separation is resolved and
(ii) the cost sharing of such resolution plan has been established, then
Developer's Advance toward the cost of the Grand Avenue Separation pursuant to
Paragraph 2.1.3 shall become a contribution. (No other advance by Developer
shall be affected by such failure to reach an agreement.); and
WHEREAS, the parties to the OPA desire to extend the time in which
an agreement must be reached pursuant tO said Paragraph 2.2.3;
NOW, THEREFORE, the parties agree as follows:
1. Effective as of the date of this Amendment, Paragraph 2.2.3 of the
OPA is hereby amended by substituting the date of September 30, 1983 in place of
the date of August 31, 1983.
2. Except as amended by th~s Third Amendment to the Owner Participation
and Development Agreement, the OPA as it existed on the effective date of this
Amendment shall remain in full force and effect.
IN WITNESS WHEREOF, the Parties have caused this Third Amendment
to Owner ParticipatiOn and Development Agreement to be duly executed as of the
date first above written. ~.
REDEVELOMENT AGENCY OF THE CITY OF
ATTEST: SOUTH SAN FRANCISCO
Executive Director r
ATTEST: HOMART DEVELOPMENT CO.
By:
ATTEST: CITY OF SOUTH SAN FRANCISCO
City Clerk
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