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Pacific Coast Corporation - 1990-02-20
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I)jt •`-r ;�;U0,- ,+�;t c~'' h'F:GUTIATiON AGIlEF3viENT DETWEI�N PACIFIC COAST C4IiPORATION ` ' ' ,'fit` , { ' '• ' ' 4 } 1 + i 1. t r' r ,-v ', *{� yrl,. -.I , v AND THE REDEVLLOPI►IENT AGEACY OF THE GiTY OF ` A, T "I .►.�,�_ 1 �tUKTI ]GTON BEACH FOR DEVELUI�MENT WYTHIN '.CIS : ,.,IL, , . . . � jt 4', +c. - IiUNfruGmi Car REDGV•FLOPMENT PROJECT AnE�A �, l�l>�i f "" '.i r � ' r, F i = f�i` �� �e.;t li r.0�"1+1r ' 1M� �, ;111 t" 1 . Y tY Y i1 W fl.pg) { �',Jt' Y {4, k1 r:,f �t•( i }i r'� }e ` , r ' I.,, t ri { T}lit Negotiation Agreement ( Agreement ) is made and entered ,: JF ;±, ;�Vit� lr, '} si 'i �4�Sf/ S.t' t�'.` riF'�,,,`.,, f r :� it ;�J {r4,t s� ii,�� r ;` into this A day of r�lJ�1G�._, 199J, by ai+d between ,r` tr"Oir,;t 'r x' "�: •1 ,:�i r7�t ,' r r i� ram, r. ` , ;- ;rf [ . I :4 } 3 r%St?,-"1r`, -`, 11 PACIFIC COAST c;O}tPORATION, a California rorporaticn t, l 'r..1ly ?c k ,a t ,, -Iii- l. ,!t � .. , }� tt k �l• t�•'f',r.�` r�,]lih,"+1, ..,"t,1E-t 4 t., `., " }1 = _ ' ("Dovelopex") , and the REDEVEr OPMENT AGENCi� of the CITY OF ;,, tk�� fi ���' 4'It' ,, r , �. 1 t �', l -1"t'� 'ri =4 { rtit ' t,. tl9 1Lr. a 'I ;M " f!. ... JJJ f 1 1 i .1 9 ({ - . j ',,,; -.; I ,, �;; :1 iKUNTINGTON BEACH, public body ("Agency") . r;�, {._ , } , '.' , ;,, r, I. qt t It 1J i } n, .,,drys;11.ja::{a1,A/i _ .�[ x,i ?.1_ J" AI :' ? WHEREAS, in furtherance of the objertaves o£ the Community 'r'�f. ;�. , I u , ,J ,',,:_ ,+�'`,4 (> r is Y,'c_1 rl% '�► Reaeveloprneizt Law of the State of California (itC�lth anc� fety ;' ?, Je .Ar,�,: 11 !} � ' 'c ,i= s;; i , ,' rl�r � � SPA Section 33060, D sere. ) , the Agency desires to redet�al��p an 'fir ?' 41t�' 7 ,r ^�''a *trC i(. ,� `, ! +� < ���;r+ Agency owned parcel located within the ;iuntington Center /L`,sL;;{; }: �; '� I "I k�' (PI"" ,tir ," i r�}ti°?"101; ~ t )�.•ti tt`r ` ,t t LL i '° r41 tii�i '7r , '• '-+,.T v1 N t ~+t n..,�' {� '7f�y.�' .r, , . r, - f +,- Redevelopment Project Area ( Project Area ) , as shown on tihe map _t ;aJ , ' M i 1�1 ;� - . attached hereto ss Inhibit A anti incor prated ha_elZ b �h_s 4��c 'q:, t tx+ rJ�t ,. {� r•Y +, N'�` r.�^ { y. N N .r. ♦ y 1, Z �^' j ? r (,. 1 Lf,",r., St�I�A� 1.»!'T r1t�I�-1., r N yf t i:> 4 ar .1 j rt5 + , zeference said pa_cal referred to herein as the Proposed 9 x It ,' JS '1 ' E1�!w jx�yF� i�J}t�}t, �. ' Se,. y' i C N� ,% t ,I •y t l ' t 1.., n ` .'t�,., t > M t }zt�, r�rz Dt�vcalo ment Site''" and • A �+ � 1 } av� _K1 I ��,, il•f` 'Jr ,It !. >/ /..,V,a.�..+• c ! 7'i it J ,n 'i> ,,� y , i.kL„,��" I f r !K >,1 t e ',�rj 4k ,. r .�1 4 :cI,J, t Syy ` 417rc,i;, ', ~ ,i.ir �.f�c+►:,i The parties desire to negotiate a Disposition and , i; � }, t }� :'t•, ,? •i r'},I ,t'i.4)v, ,r)/t2 �,,l,C - i.. ,�z• :� •+ ,t 1�Y 1; �:c',,: ' 'ri`,1-`,' 'i3 :` '"'.' Development Agreement ("DDA�') far the purpose cf redeveloping 'l .xx",,, + A ' (:';�', I2 t �',�{ „�' the Proposed Development Site; and • .,. J.l :,. �� '1 ?: .r / r - ,f,t-.V ;.3S"' } ''� Tlie parties recognize and acknowledge Lhat the purpose of=`J; «� ? f '{fY 41.`, ,a '`�,i3�'q1 %r this Agreement is to seek to negotiate the tcrm5 of a DDA which ;• � a'�, '° will include without ]imitation, the economics of the '1 2s ;L 004,p,, ,i:R r fi r h #y ` J �'r '�,,,'r ,-'`„ fit,; development, ar�d the other terms of a DDF toward the disposition q ;-,;4 - -r �'.A: ,�_, j. J,, . �,.f t r .hc,�� 1 s 1>D "t + ! , '�? ,Jt• f 41- and redevelopment of the Proposed Development Site. r �_�. I ,1, r ,r ta,y+ I. f- %' r , !� " 1 •+ v t,1:�t=`t,iFj 1Ci ;' ;fit+, T J ':. jr ' t7 & ,'r'fg, }':'t NOW, THEREFORE, the parties hereto do hereby agree as w L F -� }�..,t ,i j'' Tw ) £O110W5 : ' i 7 1%<U 2 k �: b 4 ' 1 ,r.t '�t: 3{ , 1. HEGOTIA7�NG PERIOD t`0r,f4 J ,, ..I ,ah� i.tw wf ;a Gi �;:r rl`i'�F4 2 s y }� R tQi ti .« ! r ri, ,�s The parties shall negotiate diligently an3 in good r+� ��1�. , ;�; 1• f 7f�,'i`rRk ,o 'r• y F, is > .L" ,.' L. 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', ' s'r ���,,� )'1 ✓`::.�i......`!i�r'...aR....r ar�•:sr. f,;a � Q, .a ►I t.•• •� .?*,Dr /\a 4 s!1 ' .:1-..L ?r;J r r i� t �•i,` Y . 'S�Y �•„1141 r , i� �,{"' �t"1! '�s 3„rl,T, !+{� ! � ••'t��j'':�,: �S'C;. J.11 1 .:tw'•,Y' , ,."•'.' !(L: .ilfp , + f 1' ! • 1 :', +"Tar, r Y� .. faith for a 180 day perit'i from the {`•t ` t �� date this Agreement is sr executed by the Agency ("Negotiating Period-) , to establish and �3 �t �ljE,�',i. �(t�."4• '�t ," agree upon mut•ially acceptable development plans, concepts, or `t 2 �r,t.h,}�`J t S -� � } r •i ! ,y � a a!;" r�t�4', Jk_alternatives, determine the economic feasibility of the !1r t development, and establist', a value. of the Proposed Development ! t h ^f! �E t t i Y t 3.✓✓y)���si .t t• '•¢�( a ,c''`, �,e' ' ^,� Sito xcept as this. Agreement / may be extended, if !:n the 180tr. J>;'ar •�' „ F +: clayAl Agreement from the date of this �r��'��" ' a9 (the end of the Negatiating t �'; 't"a* .° 1 � 3 t t vt Period: , the Developer has not signed and submitted a DDA to the •. � r r 1 J ; t ► %'i '(r� ' 010", ) , :q , Agency, than this Agreement shall automaticall 0 a y terminate, and t•, i ` '�� r, ' the parties knowingly agree that none of the��,� r'tt�'•,�. ' ` j;' `, _ ''! • parties shall have any further rights or inbligatio�ns to the other under this D1. Agreement. If a DDA is so signed and submittedn the t , ..' .�.� , �1tiJ,,, ,� ,�a, (4•y7�I"' , within ^,.ith Negotiating Period, than this Agreement may�^� �! ��' �#�•�°, . ��•'',-���;� . Y be extended in • c? jy 'i writing for a period not to exceed sixty c�, ° •�} ' Y ( ) ys from the date (Yl Al �ft`Rt��„ 1r[ of such submittal to enable the Agency to: ' (i) determine r }r � >�,r ,'�r/` �lLIrJ1t� whether it desires to enter into s� � i�� # such DDA, (ii) take the actions necessary to bran such DDA before r S, a tf g the Agency for consideration, •,.;�• r r�� 4� .T1 action' and authorization to sign, and iii ( ) sign the DDA, if k such is approved. 71h�4 v ; r '), l i+ ; r• ' ' �, �= rtf'Y. The design and development objectives for the project ' a t�'•e. 7--•. �/?'t r'•�M•Z!"vl•':�[i�i 1t�;t,�ta'r a, x ;Itt, Yl� i shall be specified in the DDA and the actual development �?� shall r r h v t3 w.! '�'`"� PrJ be in conformitytherewith. 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