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HomeMy WebLinkAboutReso 52-1987 RESOLUTION N0.52-87 CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION APPROVING AN AGREEMENT WITH PETER AND ENES MAZZANTI FOR THE ACQUISITION OF PROPERTY TO EXPAND ORANGE MEMORIAL PARK, SUBJECT TO A FINANCING PROGRAM APPROVED BY THE ELECTORATE WHEREAS, Peter and Enes Mazzanti own property on Tennis Drive, consisting of approximately 4.6 acres; and WHEREAS, the City Council is interested in acquiring the property due to its proximity to Orange Memorial Park as a major recreational facility; and WHEREAS, the Mazzantis and the City have reached an agreement to provide for the acquisition of the property by the City, subject to a financing program approved by the electorate at the November 1987 election; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco that it approves of the Agreement entitled "Agreement Between the City of South San Francisco and Peter and Enes Mazzanti Concerning Acquisi- tion of Property Adjacent to Orange Memorial Park" and authorizes the Mayor to execute such an Agreement in substantially the same form as the Agreement attached as "Exhibit 1". I hereby certify that the foregoing Resolution was regularly introduced and adopted by the City Council of the City of South San Francisco at a regular___meeting held on the 13th day of May , 19 8__~7, by the following vote: AYES: NOES: ABSENT: Councilmembers John "Jack" Drago, Richard A. Haffey, Gus Nicolopulos, Roberta Cerri Teglia, and Mark N. Addiego None None' Clerk EXHIBIT "l" RESOLUTIONi'NO. 52-87 AGREEMENT BETWEEN THE CITY OF SOUTH SAN FRANCISCO AND PETER AND ENES MAZZANTI CONCERNING THE ACQUISITION OF PROPERTY ADJACENT TO ORANGE MEMORIAL PARK THIS AGREEMENT is dated May 14 , 1987 and is by and between the City of South San Francisco (hereinafter "City") and Peter and Enes Mazzanti (hereinafter "Owners"). WHEREAS, Owners are the owners of certain real property known as 820 Tennis Drive (APN 014-041-050 and 100) consisting of approximately 4.6 acres located in the City of South San Francisco (hereinafter "Property"); and WHEREAS, City has an interest in acquiring the Property due to its proxi- mity to Orange Memorial Park and' the City's desire to expand Orange Memorial Park as a major recreational facility; and WHEREAS, Owners and City desire to enter into an Agreement to provide for the acquisition by the City of the Property, with the exception of some 8,500 square feet used for a single-family residence and lot, subject to a financing program approved by the electorate at the election in November 1987; NOW, THEREFORE, the City and Owners agree as follows: 1. Purchase Price. The total purchase price shall be One Million Eight Hundred Seventy Five Thousand Dollars ($1,875,000) divided into equal annual installments over the Payment Term. 2. Payment Term. The payment term shall be a period of six (6) years, commencing January 1, 1988. No interest shall accrue on any unpaid balance during the Payment Term. 3. Taxes and Insurance. Owners shall be responsible for payment of all federal., state and local taxes on the property during the Payment Term, and for the payment of any premiums for any insurance policies related to the Property during the Payment Term. 4~ 5, e e e Occupancy of Property by Owners~ Owners may, at their option, continue to occupy the Property during the Payment Term. Any and all occupancy of the Property during the Payment Term by the Owners shall not require any lease payments to be made by the Owners to the City. Time of Transfer to City. At the end of five (5) years, that is by December 1992, City will notify Owner if they wish to take control of the Property by December 1993, or are willing to extend the period during which Owners are in possession of the Property. If the City wishes to take control, Owners shall vacate the Property in a timely fashion. If the City desires to extend the period during which Owners are in possession of the Property, Owners will pay City fair market value on a monthly basis for the period of extended occupancy. Condition Precedent. A condition precedent to provisions i through 5 is that the electorate approve a park expansion financing program at the November 1987 election. The City shall utilize a financial advisor to formulate the financing program and to assist in formulating the measure to be submitted to the electorate. Payment of the financial advisor shall be subject to future sale of bonds. If the electorate does not approve the park expansion financing program this Agreement becomes void. Rejection By Voters. If the electorate fails to approve a financing program, the City agrees that it will (a) continue to negotiate with Owners with respect to possible alternate methods of funding the property acquisition using a commercial-office or high-density resi- dential or equivalent designation in determining the fair value of the Property, or (b) initiate a reconsideration of the open space land use designation in the City's General Plan and corresponding Zoning Ordinance and zoning map designations. Notice. All notices required pursuant to this Agreement shall be delivered in person or mailed first class, postage prepaid to the following addresses, or any subsequent addresses provided by the concerned party: CITY City Manager 400 Grand Avenue - P.O. Box 711 South San Francisco, CA. 94083 OWNER Peter and Enes Mazzanti 820 Tennis Drive South San Francisco, CA. 94080 -2- ATTEST: IN WITNESS WHEREOF, the parties have executed this Agreement.' CITY: CITY OF SOUTH SAN FRANCISCO, a Municipal corporation Manager ATTEST: OWNER: Enes Mazzanti ~ APPROVED AS TO FORM: t~orney -3-