HomeMy WebLinkAboutMINUTES - 09241991 - 1.7 (2) 1.70
THE REDEVELOPMENT AGENCY OF CONTRA COSTA COUNTY,- CALIFORNIA__
Adopted this Order on September 24, 1991 by the following vote:
AYES: Commissioners -Fanden, Schroder, Torlakson and McPeak
NOES: None
ABSENT: ' Commissioner Powers
ABSTAIN: None
RESOLUTION NO. RA 91- 2
SUBJECT: Termination of the remaining rights, )
if any, of ATAP International, Inc. ) t
under that certain Disposition and )
Development Agreement between the )
Contra Costa County Redevelopment )
Agency and ATAP International, Inc. , )
entered into as of March 15, 1989. )
By Resolution No. 89/135, adopted February 28, 1989, the BIoard of
Supervisors of Contra Costa County (the "Board") approved,l and by
Resolution No. RA 89-3, adopted February 28, 1989, the Contra Costa
County Redevelopment Agency (the "Agency") approved, a Disposition
and Development Agreement (the "ATAP DDA") between the Agency and
ATAP International, Inca ("ATAP") as developer for development of
seven (7) single family homes in the North Richmond Redevelopment
Project Area.
Pursuant to the ATAP DDA, the Agency conveyed title to the real
property subject to the ATAP DDA (the "Property") to ATAP. ATAP
commenced construction of the homes, but was unable to complete
construction and defaulted under its construction loan. The Agency
gave ATAP written notice of ATAP's default under the ATAP DDA on
November 29, 1990. Subsequently, the construction lender
foreclosed on the Property and now holds title to the Property.
The Agency and the construction lender have cooperated during the
process for selecting a new developer to complete the home ts. The
construction lender has agreed to convey title to the Agency for
reconveyance to the new developer. I
I
The Board and the Agency find that it is appropriate to take action
to formally terminate the remaining rights of ATAP, if any(, under
the ATAP DDA in order to clarify that ATAP has no further rights
under the ATAP DDA and to proceed with other actions necessary to
completion of the homes.
t
Therefore, the Redevelopment Agency hereby resolves:
The remaining rights of ATAP International, Inc. , a California
Corporation, under that certain Disposition and Devellopment
Agreement dated as of March 15, 1989 and recorded as document No.
89 47564, beginning at book 14941, page 35 of the official records
of Contra Costa County, as amended, if any, are hereby terminated.
cc: Community Development
County Counsel 1 hereby certify t%zt i::: ,:u6 and correct copy of
an action taken and entered on the iMlnutes of the
ATAP International, Inc. Redevelopment ge cy o the datefshown.
Goldfarb & Lipman (via RDA)
SRA18/j b/atapdda.res ATTt.3TED: Ix
PH ATCHet.t)R,Agency Secretary
CLBy Deputy
RESOLUTION NO. RA 91— 2
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