RDA Resolution 2011-023RESOLUTION RA 2011 - 023
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING AN OWNER PARTICIPATION
AGREEMENT BY AND AMONG THE AGENCY, MEGA
DEALER, LLC, AND ROBERT N. LA TORRE, INC. FOR THE
PROPERTY LOCATED AT 79 -125 HIGHWAY 111, LA
QUINTA, CALIFORNIA
OWNER PARTICIPATION AGREEMENT
MEGA DEALER, LLC & ROBERT N. LA TORRE, INC.
WHEREAS, the La Quinta Redevelopment Agency ( "Agency ") is a Community
Redevelopment Agency organized and existing under the California Community
Redevelopment Law ( "Health & Safety Code § 33000 et seq.) ( "CRL ") and has been
authorized to transact business and exercise the powers of a redevelopment agency
pursuant to action of the City Council of the City of La Quinta (the "City Council "); and
WHEREAS, The City Council, acting pursuant to the provisions of the California
Community Redevelopment Law (Health and Safety Code Section 33000 et seq.) has
adopted Ordinance 139 approving the Redevelopment Plan (the "Plan ") for the La
Quinta Redevelopment Project No. 2 (the "Project Area "); and
WHEREAS, in order to carry out and implement the Plan the Agency desires to
encourage and promote the rehabilitation and redevelopment of a certain approximately
3.59 acre portion of the Project Area (the "Site ") which is improved with the building
and facilities currently operated as a Torre Nissan automobile dealership; and
WHEREAS, the Agency staff has negotiated an Owner Participation Agreement
( "Agreement ") with Mega Dealer, LLC, the owner of the Site ( "Owner "), and Robert N.
La Torre, Inc., the owner of the Torre Nissan automobile dealership ( "Developer "),
pursuant to which the Agency will provide financial assistance in an amount up to, but
not exceeding, One Million Five Hundred Thousand Dollars ($1,500,000) towards the
costs incurred by Developer to expand the existing facilities of the dealership, all as
more particularly described in the Agreement (the "Project"); and
WHEREAS, such uses are consistent with City zoning applicable to the Site and
with the Plan; and
Resolution RA 2011 -023
Approval of the Owner Participation Agreement
Mega Dealer LLC and Robert N. LaTorre, Inc
79 -125 Highway 111
Adopted: June 14, 2011
WHEREAS, the Community Development Department of the City prepared an
Environmental Impact Report (State Clearinghouse No. 97011055) (the "EIR ") under
Environmental Assessment 97 -337 for, among other approvals, Specific Plan No. 97-
029, which provided for the development of an 87 acre multi - phased mixed use
project consisting of an auto sale /service mall and retail complex. The City Council
certified the EIR on July 15, 1997. Staff recommends the Agency determine that no
subsequent or supplemental EIR is required because the Project is consistent with, and
contemplated by, the EIR, and none of the events listed in Public Resources Code
Section 21166 have occurred; and
WHEREAS, the Redevelopment Agency hereby determines that the Agency's
financial assistance pursuant to the Agreement is necessary to effectuate the purposes
of the Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE LA QUINTA REDEVELOPMENT
AGENCY AS FOLLOWS:
1. That the above recitals are true and correct and incorporated herein.
2. That the Agency hereby finds and determines that no subsequent or
supplemental EIR is required because the Project is consistent with, and
contemplated by, the EIR, and none of the events listed in Public Resources
Code Section 21 166 have occurred.
3. That the Agreement effectuates the purposes of the Community Redevelopment
Law (Health & Safety Code § 33000 at seq.) and of the Plan and is in the best
interests of the citizens of the City of La Quinta.
4. The Agreement, a copy of which is on file with the Agency Secretary, is hereby
approved. The Agency authorizes and directs its Executive Director and Agency
Counsel to (i) make final modifications to the Agreement that are consistent
with the substantive terms of the Agreement approved hereby, and to thereafter
sign the Agreement on behalf of the Agency,(ii) sign such other and further
documents, including, but not limited to Subordination Agreements and escrow
instructions that require the Agency's signature, and (iii) take such other and
further actions, as may be necessary and proper to carry out the terms of the
Agreement.
Resolution RA 2011 -023
Approval of the Owner Participation Agreement
Mega Dealer LLC and Robert N. LaTorre, Inc
79 -125 Highway 111
Adopted: June 14, 2011
PASSED, APPROVED, AND ADOPTED at a special meeting of the La Quinta
Redevelopment Agency held this 14t day of June, 2011, by the following vote:
AYES:Agency Members Adolph, Evans, Franklin, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
A'
VERONICA J. NYNTECINO, CMC,
l.a Quinta Redevelopment Agency
TERRY HE ERSON, Chairperson
La Quinta edevelopment Agency
ry
.(AGENCY SEAL)
AS TO
M. KATHERINE JEN40 Agency Counsel
La Quinta Redevelop Vent Agency