HomeMy WebLinkAboutRESOLUTIONS - 09241991 - 91-645 i
1.65
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on ; September 24 , 1991 by the following vote:
AYES: Supervisors Fanden, Schroder, Torlakson and McPeak
NOES:
None
ABSENT: Supervisor Powers
ABSTAIN: None
I RESOLUTION NO. 91/:645
I
SUBJECT: Termination of the remaining rights, )
if any, of ATAP International, Inc. )
under that certain Disposition and )
Development Agreement between the )
Contra CostaCounty Redevelopment )
Agency and ATAP International, Inc. , )
entered intoias of March 15, 1989. )
I
By Resolution No. 89/135, adopted February 28, 1989, the Board of
Supervisors of Contra Costa County (the "Board") approved, and by
Resolution No. RA 89-3 ,' adopted February 28, 1989, the Cont r Costa
County Redevelopment Agency (the "Agency") approved, a Disposition
and Development Agreement (the "ATAP DDArr) between the Agency and
ATAP International, Inc. (''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 291 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 homes. The
construction lender hays agreed to convey title to the Agency for
reconveyance to the new developer.
The Board and the Agency find that it is appropriate to tak 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 homers.
Therefore, the Board of Supervisors hereby resolves:
i
The remaining rights ;of ATAP International, Inc. , a California
Corporation, under that certain Disposition and Development
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 ! i hereby certify that this Is a true and co Tect copy of
ATAP International, Inc. an action taken and entered on the rnnutes of the
Goldfarb & Lipman; (via RDA) Board of Supellsorlon th date shown.
SRA18/j b/atapdda.res ATTESTED: .
PHIL BA HELOR,Clerk of the board
SupervIs and CountyAE
nistrator
By ,Deputy
RESOLUTION 91/ 645
i