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HomeMy WebLinkAboutRESOLUTIONS - 06281994 - 94-650 H.6a f J THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Order on June 28, 1994 , 1994 by the following vote: AYES: Supervisors Smith, Bishop, DeSaulnier and Powers NOES: None ABSENT: Supervisor Torlakson ABSTAIN: None RESOLUTION NO. 94/650 SUBJECT: APPROVAL OF THIRD AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CONTRA COSTA COUNTY REDEVELOPMENT AGENCY AND PARK REGENCY PARTNERS AND APPROVAL OF DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CONTRA COSTA REDEVELOPMENT AGENCY AND MAIN STREET ASSOCIATES WHEREAS, the Contra Costa County Redevelopment Agency("Agency") previously entered into a disposition and development agreement dated May 23, 1989 regarding the Park Regency project in the Pleasant Hill BART Station Area Redevelopment Project which agreement was subsequently amended by the first amendment thereto dated August 24, 1989 and the second amendment thereto dated December 1, 1992)- WHEREAS, 992;WHEREAS, the 892 residential units and the day care center that are part of the Park Regency project have previously been completed and only the retail phase of the project has not been completed; WHEREAS, to facilitate construction of the retail phase of the Park Regency project, the Agency proposes to enter into a third amendment to the DDA("Third Amendment")with Park Regency Partners ("Partners"), PRP Retail Associates ("Associates") and Main Street Associates ("Main Street") and a separate disposition and development agreement ("Retail DDA")with Main Street; WHEREAS, pursuant to the Third Amendment and Retail DDA, Main Street will acquire from Partners and Associates the land for the retail phase of the Park Regency project and develop and construct the retail phase of the project thereon; WHEREAS, the Agency will not sell or otherwise dispose of any land as a result of the Third Amendment and Retail DDA, the financial terms for the Agency's previous sale of land pursuant to the DDA will not be changed as a result of the Third Amendment and Retail DDA, and the Agency will not incur any additional costs for the Park Regency project beyond those costs previously incurred pursuant to the DDA; WHEREAS, the Third Amendment and Retail DDA provide for reconfiguring the retail parcel by transferring the area of the main entrance to the 892 apartments in the project and a small area to the south of that entrance area from the retail parcel to a parcel containing the apartments and transferring the area of the secondary entrance to the apartments from a parcel containing apartments to the retail parcel subject to access rights to the apartments, and also provide for reduction of the size of the retail buildings to be developed from approximately 18,000 square feet to approximately 11,000 square feet; s. WHEREAS, the Agency prepared a summary of the Third Amendment and Retail DDA pursuant to Health& Safety Code Section 33433, and the Agency and the Board of Supervisors held a hearing on the Third Amendment and Retail DDA after giving notice thereof in the manner specified in Health& Safety Code Section 33433. NOW, THEREFORE, BE IT RESOLVED that the Board hereby finds that the Third Amendment and Retail DDA will not involve any sale or other disposition of property by the Agency or any change to the financial terms pursuant to which the Agency previously sold land under the DDA and that the execution and performance of the Third Amendment and Retail DDA will assist in elimination of blight in the Pleasant Hill BART Station Area Redevelopment Project by facilitating development of new retail improvements in an area that was previously blighted by reason of lack of adequate public improvements, dilapidated buildings, incompatible uses, depreciated and stagnated property values and impaired investments as was documented at the time the area of the Park Regency project was made part of the Pleasant Hill BART Station Area Redevelopment Project. BE IT FURTHER RESOLVED that the Board hereby approves the Third Amendment and the Retail DDA. I hereby certify that the foregoing is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date aforesaid. ATTESTED: June 28, 1994 Phil Batchelor Clerk of the Board By: Deputy Clerk JK:Ih sra14/parkreg.res 94/650