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NOTICE AND CALL OF A
SPECIAL MEETING OF THE REDEVELOPMENT AGENCY
OF THE CITY OF MOORPARK
TO THE MEMBERS OF THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK:
NOTICE IS HEREBY GIVEN that a Special Meeting of the Redevelopment Agency of
the City of Moorpark is hereby called to be held on Wednesday, November 15, 2006,
commencing at 6:50 p.m. Said meeting will convene in the Community Center located at
799 Moorpark Avenue, Moorpark, California.
Said Special Meeting shall be for the purpose of considering the following:
1. CALL TO ORDER:
2. ROLL CALL:
3. PUBLIC COMMENT:
4. PRESENTATION /ACTION /DISCUSSION:
A. Consider Resolution Amending the Fiscal Year 2006/07 Budget for Acquisition
of APNs 513 -0- 024 -105 and 513 -0- 024 -135 and Accept the Grant Deed for
Recordation. Staff Recommendation: 1) Adopt Resolution No. 2006- ,
amending the FY 2006/07 Budget by $578,000.00; 2) Authorize the Executive
Director to execute all documents necessary to this transaction; and 3)
Authorize the Agency Secretary to accept and consent to the recordation of
any deed. ROLL CALL VOTE REQUIRED (Staff: David Moe)
B. Consider Property Acquisition Agreement and Escrow Instructions; Resolution
Authorizing Purchase of 450 East High Street; and Accepting the Grant Deed
for Recordation. Staff Recommendation: 1) Adopt Resolution No. 2006- ;
2) Approve Property Acquisition Agreement, subject to final language approval
of Executive Director and Agency Counsel, and authorize Agency Chair to
execute; 3) Authorize Executive Director to execute all documents necessary
to this transaction; and 4) Authorize the Agency Secretary to accept and
consent to the recordation of any deed. ROLL CALL VOTE REQUIRED
(Staff: David Moe
SPECIAL MEETING NOTICE — Redevelopment Agency
November 15, 2006
Page 2
S. CLOSED SESSION:
A. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION
Significant exposure to litigation pursuant to Subdivision (b) of Section
54956.9 of the Government Code: (Number of cases to be discussed - 4)
B. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION
Initiation of litigation pursuant to Subdivision (c) of Section 54956.9 of the
Government Code: (Number of cases to be discussed - 4)
6. ADJOURNMENT:
Dated: November 14, 2006.
Deborah S. Traffenstedt, y Clerk
Any member of the public may address the Agency during the Public Comments portion of the Agenda, unless it is
a Public Hearing or a Presentation /Action /Discussion item. Speakers who wish to address the Agency concerning
a Public Hearing or Presentations /Action/ Discussion item must do so during the Public Hearing or
Presentations /Action /Discussion portion of the Agenda for that item. Speaker cards must be received by the City
Clerk for Public Comments prior to the beginning of the Public Comments portion of the meeting and for
Presentation /Action /Discussion items prior to the beginning of the first item of the Presentation /Action /Discussion
portion of the Agenda. Speaker Cards for a Public Hearing must be received prior to the beginning of the Public
Hearing. A limitation of three minutes shall be imposed upon each Public Comment and Presentation/
Action /Discussion item speaker. A limitation of three to five minutes shall be imposed upon each Public Hearing
item speaker. Written Statement Cards may be submitted in lieu of speaking orally for open Public Hearings and
Presentation /Action /Discussion items. Copies of each item of business on the agenda are on file in the office of
the City Clerk and are available for public review. Any questions concerning any agenda item may be directed to
the City Clerk at (805) 517 -6223.
In compliance with the Americans with Disabilities Act, if you need special assistance to review an agenda or
participate in this meeting, including auxiliary aids or services, please contact the City Clerk's Division at (805)
517 -6223. Upon request, the agenda can be made available in appropriate alternative formats to persons with a
disability. Upon advance notification of the need for disability- related modification or accommodation, reasonable
arrangements will be made by City staff to provide accessibility to the meeting (28 CFR 35.102 - 35.104; ADA Title II).
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss
CITY OF MOORPARK )
AFFIDAVIT OF POSTING
I, Maureen Benson, declare as follows:
That I am the Deputy City Clerk of the City of Moorpark and that a notice for a Special
Meeting of the Redevelopment Agency of the City of Moorpark will be held Wednesday,
November 15, 2006, commencing at 6:50 p.m. at the Moorpark Community Center, located
at 799 Moorpark Avenue, Moorpark, California.
A copy of said Notice was posted on November 14, 2006, at a conspicuous place at the
Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California.
I declare under penalty of perjury that the foregoing is true and correct.
Executed on November 14, 2006.
Maureen Benson, Deputy City Clerk
CITY OF MOORPARK, CALIFORNIA
Redevelopment Agency Meeting
of
ACTION:_C�oy� a��{
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MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
To: Honorable Agency Board of Directors
From: David C. Moe II, Redevelopment Manager
Date: November 3, 2006 (Special Agency Meeting of 11/15/06)
Subject: Consider Resolution Amending the Fiscal Year 2006/07 Budget for
Acquisition of APNS 513 -0- 024 -105 and 513 -0- 024 -135 and Accept the
Grant Deed for Recordation
BACKGROUND AND DISCUSSION
The Granary Square, Inc. has recently entered into escrow to acquire the property
located on Princeton Avenue (APNS 513 -0- 024 -105 and 513 -0- 024 -135) and is
prepared to sell it to the Agency immediately following the close of escrow. The Agency
would exchange the Princeton Avenue property for the property located at 450 East
High Street, which is currently the subject of a separate escrow and related agreement.
Staff has determined that the acquisition of the Princeton Avenue property by the
Redevelopment Agency is consistent with the goals and objectives in the Moorpark
Redevelopment Plan.
The total cost to the Agency for the property is $578,000.00 ($575,000.00 purchase
price and $3,000.00 for escrow fees). A budget appropriation from the MRA Area 1 —
Operations fund (tax increment) in the amount of $578,000.00 is required for the
purchase.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2006 — amending the Fiscal Year 2006/07 Budget
by $578,000.00;
2. Authorize the Executive Director to execute all documents necessary to this
transaction; and
3. Authorize the Agency Secretary to accept and consent to the recordation of any
deed.
Attachment "A" Resolution No. 2006 -
RESOLUTION NO. 2006 -
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF MOORPARK, CALIFORNIA, AMENDING THE FISCAL
YEAR 2006/2007 BUDGET BY APPROPRIATING $578,000
FROM THE MRA AREA I - OPERATIONS (2902) FUND FOR
ACQUISITION OF APN Nos. 513 -0- 024 -105 AND 513 -0- 024 -135
WHEREAS, on June 21, 2006, the Moorpark Redevelopment Agency Board of
Directors adopted the Moorpark Redevelopment Agency budget for Fiscal Year
2006/2007; and
WHEREAS, the Redevelopment Agency of the City of Moorpark desires to
purchase property known as APN Nos. 513 -0- 024 -105 and 513 -0- 024 -135 in the City of
Moorpark, for the purpose of exchanging the properties for 450 East High Street; and
WHEREAS, the Board of Directors of the Redevelopment Agency of the City of
Moorpark now wishes to amend the adopted budget to reflect the cost to purchase of
APN Nos. 513 -0- 024 -105 and 513 -0- 024 -135, for the acquisition cost of $575,000, plus
$3,000 for estimated escrow costs, for a total cost of $578,000 from the MRA Area I —
Operations Fund.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the total amount of $578,000 from the
MRA Area I - Operations Fund, with $575,000 for Land Acquisition and $3,000 for
Special Professional Services, as more particularly described in Exhibit "A ", attached
hereto, is hereby approved.
SECTION 2. The Agency Secretary shall certify to the adoption of this resolution
and shall cause a certified resolution to be filed in the book of original Resolutions.
PASSED AND ADOPTED this 15th day of November, 2006.
Patrick Hunter, Chair
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
Exhibit "A" — Budget Amendment Detail
I ' `' 1 ;1
EXHIBIT A
BUDGET AMENDMENT FOR
MRA AREA 1 - OPERATIONS
FY 2006 -07
FUND ALLOCATION FROM:
Fund
Account Number
Amount
MRA Area 1 - Operations
2902 -5500
$ 578,000.00
$ 3,000.00
$ 3,000.00
2902.2410.5033.9610
Total
$ 575,000.00
$ 578,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number
Current Budget
Revision
Amended Budget
2902.2410.5033.9103
$ -
$ 3,000.00
$ 3,000.00
2902.2410.5033.9610
$ -
$ 575,000.00
$ 575,000.00
Total
$ -
$ 578,000.00
$ 578,000.00
Approved as to Form:
tV00 s f;2
JTV OF MOORPARK, CALIFORNIA ITEM
ReHeveiopment Agency Meeting
ACTION:
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
To: Honorable Agency Board of Directors
From: David C. Moe II, Redevelopment Manager Oo✓
Date: November 13, 2006 (Special Agency Meeting of 11/15/06)
Subject: Consider Property Acquisition Agreement and Escrow Instructions;
and Resolution Authorizing Purchase of 450 East High Street; and
Accepting the Grant Deed for Recordation
BACKGROUND AND DISCUSSION
The Redevelopment Agency of the City of Moorpark ( "Agency ") has negotiated an
agreement with The Granary Square, Inc. for the acquisition and redevelopment of 450
East High Street ( "Acquisition Parcel'). The Granary Square, Inc. has entered into
escrow to purchase a vacant property located on Princeton Avenue (APNS 513- 0 -024-
105 and 513 -0- 024 -135) ( "Substitute Parcel'). Upon closing of escrow, The Granary
Square, Inc. is prepared to sell the Substitute Parcel to the Agency. The Agency would
exchange the Substitute Parcel for the Acquisition Parcel to provide a site to relocate
the existing fueling station ( "Improvements "). The Agency will give the Granary Square,
Inc. a one year option to enter into a Disposition and Development Agreement with the
Agency for the construction of a retail and office development on the Acquisition Parcel.
James Clark, owner of the Acquisition Parcel and the Improvements, has reviewed the
attached Property Acquisition Agreement ( "Attachment B "). Mr. Clark agrees to
exchange the Acquisition Parcel for the Substitute Parcel and relocate his
Improvements.
Mr. Clark will be eligible for relocation assistance as he will be displaced due to an
Agency project. Therefore, the Agency will need to finance the relocation of the
Improvements onto the Substitute Parcel. The Agency will also secure, at its sole cost,
the entitlements for development of the Improvements on the Substitute Parcel on
behalf of Mr. Clark.
Mr. Clark will not be required to relocate or cease his business operation immediately
following the close of escrow with the Agency. The Agency has offered to lease back
the Acquisition Parcel to Mr. Clark while the entitlements are secured from the City of
Moorpark and during the construction of the Improvements on the Substitute Parcel.
Honorable Agency Board of Directors
November 14, 2006
Page 2
This will allow Mr. Clark to continue his operation at the Acquisition Parcel and cause
minimal disruption to his business activities.
The estimated total cost to the Agency for the project is $1,278,000.00. The purchase of
the Substitute Parcel is estimated at $578,000.00 and relocating the Improvements is
estimated to be $700,000.00.
The acquisition and redevelopment of the Acquisition Parcel by the Redevelopment
Agency is consistent with the goals and objectives in the Moorpark Redevelopment Plan
and Five Year Implementation Plan.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2006 — ;and
2. Approve Property Acquisition Agreement subject to final language approval of
Executive Director and Agency Counsel and authorize Agency Chair to execute;
and
3. Authorize the Executive Director to execute all documents necessary to this
transaction; and
4. Authorize the Agency Secretary to accept and consent to the recordation of any
deed.
Attachment "A" Resolution No. 2006 -
Attachment "B" Property Acquisition Agreement
ATTACHMENT A
RESOLUTION NO. 2006 -
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF MOORPARK, CALIFORNIA, APPROVING
ACQUISITION OF 450 EAST HIGH STREET AND
ACCEPTANCE OF GRANT DEED
WHEREAS, the City Council of the City of Moorpark, adopted the
Redevelopment Plan for the Moorpark Redevelopment Project ( "Plan ") on July 5, 1989,
by Ordinance No. 110, in accordance with the California Community Redevelopment
Law (CCRL; Health and Safety Code Section 33000 et seq.); and
WHEREAS, CCRL Section 33342 provides that redevelopment plans may
include authority for the Agency to acquire by gift, purchase, lease or condemnation, all
or part of real property in the Project Area; and
WHEREAS, the Redevelopment Agency of the City of Moorpark desires to
purchase property known as 450 High Street in the City of Moorpark, for the purpose of
furthering the goals and objectives in the Plan.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Agency Secretary shall accept and consent to the recordation
of the grant deed.
SECTION 2. The Agency Secretary shall certify to the adoption of this resolution
and shall cause a certified resolution to be filed in the book of original Resolutions.
PASSED AND ADOPTED this 15th day of November, 2006.
Patrick Hunter, Chair
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
I �(,),0f,,',6
ATTACHMENT B
PROPERTY ACQUISITION AGREEMENT
AND ESCROW INSTRUCTIONS
This PROPERTY ACQUISITION AGREEMENT ( "Agreement ") is made as of this
day of November, 2006 by and between the MOORPARK REDEVELOPMENT
AGENCY, a public body, corporate and politic (the "Agency "), GRANARY SQUARE,
INC. (referred to herein as "Developer "), and JE CLARK II CORP. (the "Seller "), on the
terms, and subject to the conditions, set forth below. The Agency, Developer, and the
Seller are sometimes referred to herein collectively as the "Parties," and either
individually as a "Party."
RECITALS
A. The Agency desires to encourage and effectuate the redevelopment of
certain real property, identified as 450 East High Street, (the "Site "), that is depicted on
the map attached hereto as Exhibit "A." As depicted on Exhibit "A ", a portion of the Site
contains an existing fueling station.
B. This Site lies within the Moorpark Redevelopment Project Area ( "Project
Area "), and is subject to the Project Area's governing redevelopment plans.
C. The Developer proposes to determine the feasibility of developing the Site
as a commercial development comprised of retail and office uses (the "Project "), and
enter into a Disposition and Development Agreement (the "DDA ") on or before
December 8, 2007 with the Agency.
D. Development of the Site will require acquisition of two parcels, which
includes the Site (the "Acquisition Parcel ") and relocation of the existing fueling station
from the Acquisition Parcel to a substitute location (APN Nos. 513 -0- 024 -105 and 513-
0- 024 -135) (the "Substitute Parcel "). In addition to establishing a framework for
negotiation of the DDA, this Agreement is also intended to establish the framework for
acquisition and financing of the Acquisition and Substitute Parcels and relocation of the
existing fueling station.
E. Developer has Substitution Parcel in a separate escrow and agrees to sell
Substitution Parcel to Agency, and Agency agrees to purchase the Substitution Parcel
from Developer. The terms and conditions of this sale are set forth in a separate
agreement between the Agency and Developer.
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LA 114817- 0023 -3217 v1
AGREEMENT
The terms and conditions of this Agreement and the instructions to Chicago Title
Company ( "Title Company" and "Escrow Holder ") with regard to the escrow ( "Escrow ")
created pursuant hereto are as follows:
PROPERTY EXCHANGE.
For valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller agrees to exchange the Acquisition Parcel with the Agency for the
Substitution Parcel, together with Relocation Funds, as defined hererin (provided
Developer completes its sale of the Substitution Parcel to the Agency), upon the terms
and conditions herein set forth.
2. EXCHANGE VALUE.
(a) EXCHANGE OF PROPERTY: The total exchange value
( "Exchange Value ") for the Acquisition Parcel and Substitution Parcel shall be
$1,000,000, consisting of the value of the Acquisition Parcel to be conveyed by Seller
and the value of the Substitution Parcel to be conveyed and the Relocation Funds per 2.
(b) to be delivered by Agency. It is contemplated that there would be no further
consideration as the value of the Acquisition Parcel and the combined value of the
Substitution Parcel and the Relocation Funds are equal.
(b) RELOCATION FUNDS: Agency shall pay to Seller, as
RELOCATION FUNDS, a cash payment in lieu of relocation assistance for the
reconstruction of the existing fueling station of approximately the same equipment, size
and square footage. RELOCATION FUNDS are payable as tax free relocation
payments under the provisions of Title 49 of the Code of Federal Regulations Part 24,
Chapter 16 of the California Government Code, Section 7260, et. seq., or similar source
and character. Such funds shall be in the amount determined by submission of plans to
the City of Moorpark before Closing, but will be supplemented by such as additional
amounts as are required to comply with modifications to the plan required by the City of
Moorpark, the County of Ventura, the State of California or any other public agency with
legal jurisdiction for submitting a fueling station, as a condition for the approval,
construction, equipment installation or operation of the fueling station on the Substitute
Parcel. After the Agency has obtained a Commercial Planned Development ( "CPD ")
Permit and a Conditional Use Permit ( "CUP ") (collectively "Project Approval ") on behalf
of the Seller, Agency will pay Seller the Relocation Funds. Upon acceptance of
Relocation Funds by Seller, Seller waives any further rights to additional relocation
assistance arising out of the acquisition of the Acquisition Parcel by the Agency.
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LA #4817 - 0023 -3217 vl x
3. ESCROW.
(a) Opening of Escrow.
Within one (1) business day following the Effective Date hereof, Developer shall
deliver an executed copy of this Agreement to Escrow Holder. For purposes of this
Agreement, the Escrow shall be deemed opened on the date Escrow Holder shall have
received said executed Agreement or copy. Escrow Holder shall notify Parties, in
writing, of the date Escrow is opened and the Closing Date. In addition, Parties agree
to execute, deliver and be bound by any reasonable or customary supplemental escrow
instructions of Escrow Holder or other instruments as may reasonably be required by
Escrow Holder in order to consummate the transaction contemplated by this
Agreement. Any such supplemental instructions shall not conflict with, amend or
supersede any portions of this Agreement. If there is any inconsistency between such
supplemental instructions and this Agreement, this Agreement shall control.
(b) Close of Escrow.
For purposes of this Agreement, the "Close of Escrow" or "Closing" shall be
defined as the date the Grant Deed conveying the Acquisition Parcel to Agency and
Grant Deed conveying the Substitution Parcel to Seller are recorded in the Official
Records of Ventura County, California. The "Closing Date" shall be December 8, 2006.
Unless otherwise subsequently agreed to in writing signed by the Parties, if Close of
Escrow fails to occur by the Closing Date, the Close of Escrow shall occur as soon
thereafter as possible unless one party gives written notice to the Escrow Holder and
the other party to cancel the escrow. Cancellation of the escrow, as provided in this
Section, shall be without prejudice to whatever legal or equitable rights Agency or Seller
may have against each other arising from this Agreement or otherwise.
4. TITLE
- (a) Promptly following the full execution of this Agreement, Escrow
Agent shall cause Chicago Title Company ( "Title Company ") to issue to Agency (with a
copy to Seller) a preliminary title report for the Acquisition Parcel, setting forth all liens,
encumbrances, easements, restrictions, conditions, pending litigation, judgments,
administrative proceedings, and other matters affecting Seller's title to the Acquisition
Parcel ( "Preliminary Report"), together with copies of all documents relating to title
exceptions referred to in the Preliminary Report
(b) Agency shall approve or disapprove each exception shown in the
Preliminary Report and each encroachment, overlap, or boundary line dispute, or any
other matter that affects title to the Site or that violates any law, rule, or regulation
reflected therein (each an "Exception ") within three (3) days following the receipt of the
Preliminary Report. The Seller shall correct, to the Agency's satisfaction, any Exception
not approved by the Agency. If the Seller fails or refuses to correct an Exception, the
Agency has the right to terminate the escrow.
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LA #4817 - 0023 -3217 v ¢�� r
5. Title Policv.
(a) Title Policy for Acquisition Parcel. Agency shall cause the Title
Company to issue its Standard CTLA Owner's form Policy of Title Insurance
( "Acquisition Title Policy ") in the amount of FIVE HUNDRED SEVENTY FIVE
THOUSAND DOLLARS ($575,000.00) showing good and marketable title to the
Acquisition Parcel vested in Agency.
(b) Title Policy for Substitute Parcel. Agency shall cause the Title
Company to issue its Standard CTLA Owner's form Policy of Title Insurance ( "Substitue
Title Policy ") in the amount of One Million Dollars ($1,000,000) showing good and
marketable title to the Substitute Parcel vested in Seller. The Substitution Title Policy
amount mentioned in this section shall only be for the purpose of this Agreement.
6. SELLER'S DELIVERIES AND CONDITIONS TO CLOSING.
Prior to the Close of Escrow, Seller shall deposit or cause to be deposited into
Escrow for delivery to Agency at closing the following:
(a) A duly executed and acknowledged Grant Deed for the Acquisition
Parcel in the Title Company's usual form;
(b) Seller agrees to deliver to Agency a clear and fully transferable title
of the Acquisition Parcel.
(c) Any other document provided for herein or reasonably required by
Escrow Holder.
(d) Seller agrees to produce an itemized budget to reconstruct fueling
station currently located at the Acquisition Site and relocate it onto the Substitution Site,
and enter into an agreement with Agency for a one time cash payment in lieu of
relocation assistance, referenced in Section 2(a), above, as the RELOCATION FUNDS,
for the reconstruction of the existing fueling station of approximately the same
equipment, size and square footage.
(e) Seller agrees to grant access on the Acquisition Parcel by the
Agency, or their representatives, for the purpose of conducting any required
environmental inspection.
(f) Seller agrees to pay any cost over Forty Thousand Dollars
($40,000.00) to abate contamination on the Acquisition Parcel. Seller also agrees to
cooperate and use his best efforts to make available for the abatement of contamination
on the Acquisition Parcel such funds as are available to Seller under the terms of the
California Underground Storage Tank Cleanup Fund, or similar benefit available to
Seller, before requiring the Agency to satisfy such costs otherwise required under
Section 7(e), below. However, contamination abatement or remediation efforts on the
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LA #4817- 0023 -3217 v
Acquisition Parcel for which the Seller may be liable shall only be initiated with the
consent of the Seller, as lessee or otherwise, after determining availability of such
benefits, coverage or assistance under the California Underground Storage Tank
Cleanup Fund, or similar benefit available to Seller. Only if it is determined that no such
benefits, coverage or assistance is available will such contamination abatement or
remediation efforts on the Acquisition Parcel be initiated without the consent of Seller.
Seller shall secure such benefits, coverage or assistance under the California
Underground Storage Tank Cleanup Fund, or similar benefit available within One
Hundred and Eighty (180) days from the date notification from Agency.
(g) Seller agrees to enter into a lease agreement with Agency, as
described in Section 8(a), below, to allow continual operation of the existing fueling
station during the construction of the new fueling station on the Substitution Parcel to be
completed no later than December 30, 2008.
(h) Seller does not wish to undertake an Owner Participation
Agreement with Agency to redevelop the Acquisition Parcel in conformance with the
Downtown Specific Plan.
(i.) Seller grants Agency, with the exception of a sale or transfer to a
family member, a first right of refusal to repurchase the Substitution Parcel.
0.) Seller guarantees to utilize the Substitution Parcel as a fueling
station for a period of five years from the date Seller completes the construction of the
replacement fueling station on Substitution Parcel.
(k). Upon Project Approval, Seller agrees to maintain Substitution
Parcel in good condition.
(1) Upon Project Approval, Seller agrees to not utilize Substitution
Parcel for storage facilities or truck parking not authorized by the City of Moorpark.
7. AGENCY'S DELIVERIES AND CONDITIONS TO CLOSING.
Prior to the Close of Escrow, Agency shall deposit or cause to be deposited into
Escrow to be delivered to Seller the following:
(a) A duly executed and acknowledged Grant Deed for the Substitution
Parcel in the Title Company's usual form.
(b) Agency agrees to enter into an agreement with Seller for a one time
cash payment in lieu of relocation assistance for the reconstruction of the existing
fueling station of approximately the same equipment, size and square footage on the
Substitution Parcel.
(c) Any other document provided for herein or reasonably required by
Escrow Holder.
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LA #4817- 0023 -3217 v ` ti
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(d) Agency Agrees to pay any cost up to Forty Thousand Dollars
($40,000.00) to abate contamination on the Acquisition Parcel.
(e) Agency shall obtain Project Approval from the City of Moorpark on
the behave of the Seller. Agency will hire an Architect and Engineer, approved by
Seller, to process the Project Approval. The Agency will also expedite and pay all fees
required to process and obtain Project Approval, which will not be unreasonably
withheld by the City of Moorpark.
(f) Agency agrees to enter into a lease agreement with Seller, as
described in Section 8(a), below, to allow continual operation of the existing fueling
station during the construction of the new fueling station on the Substitution Parcel.
(h) Agency will be financially responsible for Seller's required on and
off site improvements associated with the development of the Substitution Parcel
consistent with the Project Approvals and applicable building codes.
8. SELLER'S AND AGENCY'S JOINT DELIVERIES AND
CONDITIONS TO CLOSING.
Prior to and as a condition of Closing, Seller and Agency shall jointly
deposit or cause to be deposited in Escrow, to be delivered to both:
(a) Lease Agreement between Agency, as Lessor, and Seller, as
Lessee, leasing the Acquisition Parcel to Seller for the amount of $1 per year for a
period ending on the earlier of December 30, 2008 or the completion of the Relocation
Improvements, and the permitting, licensing and issuance of all required operational
authorization for the operation of a fuel station at the Substitute Parcel, whichever
occurs first. Attached to this Agreement is a general lease agreement (Exhibit B) which
shall be used as a foundation for the lease agreement between Agency and Seller.;
(b) Written confirmation that any and all coverage and benefits
available to Seller under the California Underground Storage Tank Cleanup Fund, or similar
benefit available to Seller remain in effect and available as a lessee of the Acquisition
Parcel;
(c) Plans for installation of Relocation Improvements on the Substitute
Parcel, together with budget for acquisition, installation and construction of such
improvements;
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LA #4817- 0023 -3217 v1 Q l f "'
9. AUTHORIZATION TO RECORD DOCUMENTS AND DISBURSE
FUNDS.
Escrow Holder is hereby authorized and directed to record the documents and
disburse the funds and documents called for hereunder, provided each of the following
conditions have been or will concurrently with the Close of Escrow be fulfilled;
(a) Title Company has committed to issue to Agency the Acquisition
Title Policy in accordance with Section 5 above.
(b) Title Company has committed to issue to Seller the Substitute Title
Policy in accordance with Section 5 above.
(c) Seller shall have deposited in Escrow the Grant Deed required of it
hereunder.
(d) Agency shall have deposited in Escrow the Grant Deed required of
it hereunder.
(e) Escrow Holder is authorized to record any instrument delivered
through this Escrow if necessary or proper for the issuance of the Title Policy referred to
above.
(f) The Seller has delivered SELLER'S DELIVERIES AND
CONDITIONS TO CLOSING as set forth in Section 6, above
(g) The Agency has delivered AGENCY'S DELIVERIES AND
CONDITIONS TO CLOSING, as set forth in Section 7, above.
(h) The Seller and the Agency have delivered SELLER'S AND
AGENCY'S JOINT DELIVERIES AND CONDITIONS TO CLOSING, as set forth in
Section 8, above.
10. COSTS AND EXPENSES.
The cost and expense of the Title Policy, the escrow fee, and all documentary
transfer taxes payable in connection with the recordation of the Grant Deed and all of
Escrow Holder's customary charges for Closing, document drafting, recording and
miscellaneous charges shall be paid by Agency.
11. PRORATION.
The following proration shall be made between Agency and Seller by Escrow
Holder at the Close of Escrow, computed as of the closing date:
LA #4817 - 0023 -3217 v 1 7
(a) Taxes.
Real property taxes, special taxes, and assessments shall be
prorated as of the Close of Escrow based upon the latest available tax information.
Seller shall be responsible for all special taxes and assessments accrued against the
Acquisition Parcel to and including the day prior to the Close of Escrow based upon
payment of such assessments in installments to the greatest extent permitted. Unless
any special tax or assessment payment or installment specifies the time period for
which such payment is owed, it shall be presumed that such payment is for the full year
immediately preceding the day upon which such payment is due.
12. DEVELOPMENT OPTION
Developer shall have one year from the Close of Escrow to enter into a DDA, of
which terms and conditions shall be set forth in a separate agreement between the
Agency and Developer, with the Agency as part of consideration to Developer for
development of the Acquisition Parcel.
The Parties hereto have executed this Agreement as of the date and year first
appearing above.
Dated:
GRANARY SQUARE, INC
Dated: By:
JE CLARK II, CORP.
Dated: By:
MOORPARK REDEVELOPMENT AGENCY
Date: By:
ATTEST:
Deborah Traffenstedt, Agency Secretary
Patrick Hunter, Chairman
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EXHIBIT A
Site Map
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LA #4817- 0023 -3217 v
EXHIBIT B
STANDARD LEASE AGREEMENT
LA #4817 - 0023 -3217 v