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Home My WebLink AboutRDA Reso 19-2010RESOLUTION NO. 19-2010 REDEVELOPMENT AGENCY BOARD, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA, A RESOLUTION APPROVING AN AMENDMENT TO EXTEND THE MEMORANDUM OF UNDERSTANDING AMONG THE CITY OF SOUTH SAN FRANCISCO, REDEVELOPMENT AGENCY OF THE C[TY OF SOUTH SAN FRANCISCO AND OYSTER POINT VENTURES LLC FOR POTENTIAL DEVELOPMENT OF THE OYSTER POINT MARINA AND OYSTER POINT BUSINE SS PARK WHEREAS, the Redevelopment Agency of the City of South San Francisco ("Agency") is a redevelopment agency formed, existing and exercising its powers pursuant to the provisions the Community Redevelopment Law of the State of California (Health and Safety Code Section 33000 et seq.); and, WHEREAS, the City Council of the City of South Sa.n Francisco ("City") has adopted a Redevelopment Plan for the Downtown/Central Project Area. (as amended, the "Project Area"); and, WHEREAS, the City is the owner of certain real property located within the Project Area and commonly known as the Oyster Point Marina ("Marina Property"); and, WHEREAS, Oyster Point Ventures LLC, a joint venture between Shorenstein Properties and SKS Investments LLC ("S/SKS"), purchased the Oyster Point Business Park, which is adjacent to the Oyster Point Marina, for the purpose of developing the Oyster Point Business Park into a modern research and development life sciences campus; and, WHEREAS, in collaboration with the City and the Agency, S/SKS has proposed a public-private development approach that would result in an integrated development of the Oyster Point Marina and the Oyster Point Business Park ("Project"); and, WHEREAS, in May 2009 the City Council and Redevelopment Agency Board approved a non-binding Memorandum of Understanding ("MOU"), that establishes anon-binding tentative understanding among the City, Agency and S/SKS regarding (1) a description of the Project to undertake the required analysis by the City and Agency pursuant to the California Environmental Quality Act ("CEQA"), (2) the feasibility of the project and allocation of estimated costs among the parties, and (3) the necessary planning activities, entitlements and agreements to implement the Project; and, WHEREAS, the City, Agency, and S/SKS now all wish to extend the term of the MOU, as described in the proposed First Amendment, attached to this Resolution as Attachment 1; and WHEREAS, the First Amendment to the MOU would. extend the effective period of the MOU, but would not change any other sections, terms, or conditions of the MOU, which would remain in full force and effect; and WHEREAS, the MOU is a preliminary, non-binding agreement, and neither the MOU nor the First Amendment thereto, commits the City or Agency to a definite course of action or forecloses consideration of alternatives; and certification of environmental review pursuant to CEQA will be required prior approval of any land use entitlements for the Project; therefore, execution of this First Amendment to the MOU is not an "approval" of a "project," as those terms are defined in CEQA. NOW, THEREFORE, BE IT RESOLVED that the lE~e-development Agency Board of the City of South San Francisco hereby: (1) Finds and determines that the recitals are true; and correct; (2) Approves the First Amendment to the MOIJ in substantially the same form attached hereto as Attachment 1; (3) Authorizes the Executive Director to enter into and execute the First Amendment to the MOU in substantially the same form as attached hereto as Attachment 1, and with any revisions, amendments, or modifications deemed necessary by counsel to the Agency to carry out the intent of this Resolution and which do not materially or substantially increase the Agency's obligations thereunder; and I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Redevelopment Agency of the City of South San Franc:isco at a regular meeting held on the Stn day of June, 2010 by the following vote: AYES: Boardmembers Pedro Gonzalez, Richard A. Garbarino and Karyl Matsumoto, Vice Chair Kevin Mullin and Chairman Mark Addie~o NOES: ABSTAIN: ABSENT: None ." ~~ z_~ . y ~:.~ ~~ ~ ~""- i~ ~ ~ ATTES :~~ -~ // ~,// City Clerk . ', FIRST AMENDMENT 'TO MEMORANDUM OF UNDERSTANDING (Oyster Point Marina) THIS FIRST AMENDMENT TO MEMORANDUM OF UNDERS"fAND1NG (this "First Amendment''), dated and made effective as of .2010 (the "Effective Date") is entered into by and among the City of South San Francisco, a California municipal corporation ("City"), South San Francisco Redevelopment Agency, a public body, corporate and politic ("RDA") and Oyster Point Ventures, LLC, a Delaware limited liability company ("Developer"). City, RDA, and Developer are hereinafter collectively referred to as the "Parties.'" RECITALS A. The Parties previously entered a Memorandum of Understanding ("MOU"). effective as of May 13; 2009, setting forth preliminary points of agreement among the Parties regarding the potential redevelopment of the area commonly lknown as the Oysier Point Marina ("Marina Property") and establishing a period during which Developer would have the exclusive right to negotiate with City and Agency regarding the conveyance and development of portions of the Marina Property. B. The MOU provided in Section 5.1 that its effective term ("Term") would commence on a specified Commencement Date, and would terminate five hundred forty (540) days thereafter; unless extended or earlier terminated as provided in the MOtI. The Commencement Date (defined as the first date on which (i) City, RDA, and Developer have all duly approved and executed the MOU, (ii) City and the San Mateo County Harbor District ("Harbor District'} have both duly approved and executed a separate City/Harbor District MOU., and (iii) all other conditions to the effectiveness of the assignment of certain King Leases have bec;n satisfied; including consent by the California Department of Boating and Waterways; Harbor District, and City) was May 27, 2009. C. The MOU further specified that the Parties may extend the Tenn for a maximum of three (3) additional thirty (30) calendar day terms, or as otherwise mutually agreed upon the mutual written agreement of the Parties and approval by the City Council and RDA, provided that the activities contemplated in the MOU have progressed to the satisfaction of the City Council and RDA in their sole discretion. D. In order to complete environmental review and obtain required govenunental approvals and entitlements fox the proposed redevelopment project; the Parties have determined that it is necessary to extend the Term beyond that set forth in the MOU, including the three additional 30-day extensions specified in the MOU. NOW THEREFORE, in consideration of the mutual covenants and agreements set forth in the MOU and hereinafter. and other good and valuable consideration.. the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: AGREEMENT Section 1 MOU in Effect. The Parties acknowledge and agree that the MOU remains in full force and effect. sf-?884308 Section 2 Section 5.1 Amended. Section 5.1 of the MOU is hereby amended to read in full as follows: 5.1 Term. The term of this MOU (the "Term") shall commence on the Commencement Date, and shall terminate on September 30, 201 l ;unless extended or earlier terminated as provided herein. The Term may be extended for up to a maximum of three (3) additional thirty (30) calendar day terms, or as otherwise mutually agreed, upon the mutual written agreement of the Parties and approval by the City Council and RDA, provided that the activities contemplated herein have progressed to the satisfaction of the City Council and RDA in their reasonable discretion. Section 3 Other Terms and Conditions to Remain in Effect. All other provisions, terms, and conditions of the MOU not expressly amended by this First Amendment shall remain in full force and effect. IN WITNESS WHEREOF, the Parties have executed this First Amendment effective as of the date first written above. CITY CITY OF SOUTH SAN FRANCISCO, a municipal corporation Name:_ _ City Manager ~~rTES~r: r3~: ___ City Clerk APPROVED AS TO FORM: B y : ------------ City Attorney AGENCY REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO, a public body, corporate and politic By: Name: Executive Director ATTEST: By: Agency Secretary APPROVED AS TO FORM: By: Agency General Counsel sf-?884308 2 DEVELOPER OYSTER POINT VENTURES LLC, a Delaware limited liability company 13y: SRl Nine Oyster Point LLC, a Delaware limited liability company, its Managing Member I3y Name: lts: By: SKS Oyster Point, LLC, a Delaware limited liability company, its Member 13y:_ _ _ - Name: _-- - Its: sf-2884308