HomeMy WebLinkAbout076-01RESOLUTION NO. 76-2001
APPROVING EXECUTION OF THE FIRST AMENDMENT TO OWNER
PARTICIPATION/DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE COMMUNITY DEVELOPMENT AGENCY OF THE TOWN OF
DANVILLE, THE TOWN OF DANVILLE, AND THE EDWARD S. AGENO 1992
TRUST
WHEREAS, on July 20, 1999, the Community Development Agency of the Town of
Danville (the "Agency"), the Town of Danville (the "Town") and the Edward S. Ageno 1992
Trust (the "Trust") entered into an Owner Participation/Disposition and Development
Agreement for the redevelopment of the Danville Square Shopping Center; and
WHEREAS, the parties to the Agreement wish to amend the Agreement as set forth in the
First Amendment to the Agreement, attached hereto as Exhibit 1; now, therefore, be it
RESOLVED, by the Town of Danville that the First Amendment to the Owner
Participation/Disposition and Development Agreement between the Agency, the Town and
the Edward S. Ageno 1992 Trust is hereby approved and the Town Manager is authorized to
execute the Amendment.
APPROVED by the Danville Town Council at a regular meeting on July 17, 2001, by the
following vote:
AYES: Doyle, Waldo, Arnerich, Greenberg, Shimansky
NOES: None
ABSENT: None
ABSTAIN: None
MAYOR
APPROVED AS TO FORM:
FIRST AMENDMENT TO OWNER PARTICIPATION/DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY DEVELOPMENT
AGENCY OF THE TOWN OF DANVILLE, THE TOWN OF DANVILLE, AND THE
EDWARD S. AGENO 1992 TRUST
RECITALS
A. The Community Development Agency of the Town of Danville (the "Agency), the Town
of Danville (the "Town") and the Edward S. Ageno 1992 Trust (the "Trust',) entered into
an Owner Participation/Disposition and Development Agreement (the "Agreement")
dated July 20, 1999.
B. The Agreement sets forth the terms and conditions for the redevelopment of the Danville
Square Shopping Center by the Trust. Among other items, the Agreement provides the
terms and conditions for the Agency to convey land to the Trust as part of the
redevelopment. The Agreement also establishes a time line for completion of Phase 1 of
the project.
C. The pa~ies have agreed that it is necessary to amend certain provisions of the Agreement
to reflect changes in timing of water line installation and the overall completion of Phase
1 of the project.
Based on the above recitals, the parties agree as follows:
1. Section 4.8 is hereby added to the Agreement to read as follows:
"Reimbursement for Water Line. Prior to the close of escrow on the Agency
Parcel, the Trust will construct a water line providing water service to the Agency
Parcel. In the event that escrow does not close pursuant to this article, the Agency
agrees to reimburse the Trust for its actual costs in installing the water line. The
Agency shall not be responsible for this reimbursement until such time as the
Agency Parcel is conveyed to a third party. This section shall supercede the
provisions of Article 9."
2. Section 5.2 and Action Item 18 on the Schedule of Performance are amended as
follows: "Completion of Phase 1 construction shall occur on or before June 15,
2002."
3. Except as specifically addressed in paragraphs 1 and 2, all other provisions of the
Agreement shall remain in effect.
This First Amendment to the Agreement shall become effective on July 18, 2001.
COMMUNITY DEVELOPMENT AGENCY OF
THE TOWN OF DANVILLE
By: Joseph A. Calabrigo
Executive Director
TOWN OF DANVILLE
By: Joseph A. Calabrigo
Town Manager
EDWARD S. AGENO 1992 TRUST
By: Marilyn Ageno Dreyfuss
Trustee
By: Phillip M. Francis
Trustee
By: J. Richard Lombardi
Trustee
Approved as to Form:
By: Robert B. Ewing
City Attorney
FIRST AMENDMENT TO OWNER PARTICIPATION/DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY DEVELOPMENT
AGENCY OF THE TOWN OF DANVILLE, THE TOWN OF DANVILLE, AND THE
EDWARD S. AGENO 1992 TRUST
RECITALS
A. The Community Development Agency of the Town of Danville (the "Agency), the Town
of Danville (the "Town") and the Edward S. Ageno 1992 Trust (the "Trust") entered into
an Owner Participation/Disposition and Development Agreement (the "Agreement")
dated July 20, 1999.
B. The Agreement sets forth the terms and conditions for the redevelopment of the Danville
Square Shopping Center by the Trust. Among other items, the Agreement provides the
terms and conditions for the Agency to convey land to the Trust as pan of the
redevelopment. The Agreement also establishes a time line for completion of Phase 1 of
the project.
C. The parties have agreed that it is necessary to amend certain provisions of the Agreement
to reflect changes in timing of water line installation and the overall completion of Phase
1 of the project.
Based on the above recitals, the parties agree as follows:
1. Section 4.8 is hereby added to the Agreement to read as follows:
"Reimbursement for Water Line. Prior to the close of escrow on the Agency
Parcel, the Trust will construct a water line providing water service to the Agency
Parcel. In the event that escrow does not close pursuant to this article, the Agency
agrees to reimburse the Trust for its actual costs in installing the water line. The
Agency shall not be responsible for this reimbursement until such time as the
Agency Parcel is conveyed to a third party. This section shall supercede the
provisions of Article 9."
2. Section 5.2 and Action Item 18 on the Schedule of Performance are amended as
follows: "Completion of Phase 1 construction shall occur on or before June 15,
2002."
3. Except as specifically addressed in paragraphs 1 and 2, all other provisions of the
Agreement shall remain in effect.
This First Amendment to the Agreement shall become effective on July 18, 2001.
COMMUNITY DEVELOPMENT AGENCY OF
THE TOWN OF DANVILLE
~A. Calabfigo~
~ Executive Director ~J
TOWN OF DANVILLE
~h A. Cala~
J'Town Manager ~/
EDWARD S. AGENO 1992 TRUST
By."'~ FhillipI~.Francis / ,
Trustee
~x~Y: ~eh:d L°mbardi
Approved as to Form:
By: Robert B. Ewing
City Attorney
/