RDA Resolution 2005-003
RESOLUTION NO. RA 2005-003
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING AN EXCLUSIVE NEGOTIATION
AGREEMENT BETWEEN THE AGENCY AND DDC DESERT
DEVELOPMENT, INC. FOR THE PROPERTY LOCATED AT
THE SOUTHWEST CORNER OF JEFFERSON STREET AND
AVENUE 52
WHEREAS, the la Quinta Redevelopment Agency (II Agency") is a
public body, corporate and politic, organized and existing under the California
Community Redevelopment law (IIHealth & Safety Code § 33000 et seq.) ('/CRl");
and
WHEREAS, pursuant to the CRl, the City Council of the City of la
Quinta (IICity" or IICity Council," as applicable) approved and adopted the
Redevelopment Plan (IIRedevelopment Plan") for Project Area No.1 (IIProject Area"),
on November 29, 1983, by Ordinance No. 43; and
WHEREAS, the Agency staff has negotiated an Exclusive Negotiation
Agreemer)t ("Agreement") with DDC Desert Development, Inc., a California
corporation ("Developer"), pursuant to which the Agency and the Developer will
initiate exclusive negotiations, for up to one hundred eighty (1 80) days, concerning
the Developer's proposed acquisition of certain real property located in the Project
Area at the southwest corner of Jefferson Street and Avenue 52, and development
thereon of a commercial project consisting of some or all of a luxury boutique hotel,
condo hotel units, a retail village, a 4- or 5-star hotel, a conference center, and
additional resort units; and
WHEREAS, the Redevelopment Agency has considered all the
information presented by the Agency staff concerning the Agreement; and
WHEREAS, the Agreement is in accordance with the Redevelopment
Plan and is of benefit to the Project Area and the City of La Quinta; and
NOW, THEREFORE, BE IT RESOLVED BY THE LA GUINTA
REDEVELOPMENT AGENCY AS FOLLOWS:
1 . . That the above recitals are true and correct and incorporated herein.
Resolution No. RA 2005-003
DDC Desert Development, Inc.
Exclusive Negotiation Agreement
Adopted: March 15, 2005
Page 2
2. That the La Quinta Redevelopment Agency hereby finds and
determines that the Agreement effectuates the purposes of the Community
Redevelopment Law (Health & Safety Code § 33000 et seq.) and of the
Redevelopment Plan and is in the best interests of the citizens of the City of La
Quinta.
3. The Agreement, a copy of which is on file with the Agency Secretary,
is hereby approved. The Agency Executive Director and Agency Counsel are
hereby authorized and directed to make final modifications to the Agreement that
are consistent with the substantive terms of the Agreement approved hereby, and
the Agency Executive Director is authorized to thereafter sign the Agreement on
behalf of the Agency.
4. The Agency Executive Director is authorized and directed, on behalf of
the Agency, to sign such other and further documents, and take such other and
further actions, as may be necessary and proper to carry out the terms of the
Agreement.
PASSED, APPROVED, and ADOPTED at a regular meeting of the La
Quinta Redevelopment Agency held this 15th day of March, 2005, by the following
vote:
AYES: Council Members Henderson, Osborne, Perkins, Mayor Adolph
NOES: Council Member Sniff
ABSENT: None
ABSTAIN: None
E OSBORNE, Agency Chair.
La Quinta Redevelopment Agency
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Resolution No. RA 2005-003
DDC Desert Development, Inc.
Exclusive Negotiation Agreement
Adopted: March 15, 2005
Page 3
ATTEST:
ø
UN . GREEK, CMC, gency Secretary
La Quinta Redevelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
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La Quinta Redevelopment Agency