Resolution No. 9404*PLEASE REFER TO
RESOLUTION NO. 2016-04 FINAL
DOCUMENTS (PDFs Received) FOR
3200 FRUITLAND (PECHINEY)
- FINAL ASSIGNMENT AND ASSUMPTION
- FINAL EDI AGREEMENT
- FINAL ADDED FACILITIES AGREEMENT
- FINAL JOINT CLOSING INSTRUCTIONS
- FINAL ESCROW AGREEMENT
- FINAL BUYER'S SETTLEMENT STATEMENT
- FINAL CITY -OWNER SETTLEMENT
STATEMENT
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RESOLUTION NO. 9404
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
VERNON APPROVING AND AUTHORIZING THE JOINT
DEVELOPMENT OF PROPERTY LOCATED AT 3200 FRUITLAND
IN THE CITY OF VERNON AND RATIFYING PAYMENTS MADE
FOR THE PURCHASE OF THE PROPERTY AND THE PURCHASE
OF RECLAIM TRADING CREDITS
WHEREAS, on March 22, 2006, the City Council of the City of
Vernon adopted Resolution No. 8995 approving a Standard Offer,
Agreement and Escrow Instructions and Addendum (the "Agreement") with
Pechiney Cast Plate, Inc., also known as Pechiney, Pechiney Aluminum,
Alcoa, Alcoa Aluminum Corporation, Century Cast Plate, Alcan, and Alcan
Aluminum, (collectively, "Pechiney") for the purchase of property
located at 3200 Fruitland Avenue (the "Property"); and
WHEREAS, on May 3, 2006, the City Council of the City of
Vernon adopted Resolution No. 9030 approving a First Amendment to the
Agreement to clarify and redefine certain issues relating to the
Demolition Work Plan and Remediation Work Plan set forth in the
Agreement; and
WHEREAS, the Redevelopment Agency of the City of Vernon
("Agency") by Resolution No. RA-346 adopted on September 4, 2007, has
determined that the Property is desirable and necessary for the
elimination of blight, for redevelopment purposes and approved the
joint development of the Property with the City of Vernon; and
WHEREAS, the City of Vernon has paid the following amounts
towards the purchase of the Property:
$600,000.00 on April 6, 2006
$8 million on June 6, 2006
$2.7 million on December 6, 2006; and
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WHEREAS, the Agency has paid the following amounts towards
the purchase of the Property:
$8.8 million on November 6, 2006
$6.1 million on December 6, 2006; and
WHEREAS, the Agency has reimbursed the City the following
amounts towards the purchase of the Property:
$7 million on August 31, 2007; and
WHEREAS, the Agency and the City desire to jointly develop
the Property; and
WHEREAS, on May 29, 2007, the City Council of the City of
Vernon adopted Resolution No. 9332 approving a reclaim trading credit
transaction with Smurfit -Stone Container Enterprises, Inc. ("Smurfit");
Iand
WHEREAS, on or about June 1, 2007, the Agency paid the sum of
$9,624,735.00 for reclaim trading credits purchased from Smurfit; and
WHEREAS, the City of Vernon acknowledges the payment made by
the Agency for the purchase of reclaim trading credits from Smurfit to
be further contribution from the Agency toward the joint development of
the Property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the City of Vernon hereby
finds and determines that the recitals contained hereinabove are true
and correct.
SECTION 2: The City Council of the City of Vernon hereby
approves the joint development of the Property and hereby ratifies the
payments made by the City in the sum of $11.3 million for the purchase
of the Property.
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SECTION 3: The City Council of the City of Vernon hereby
acknowledges the Agency's payment of $9,624,735.00 for the purchase of
the reclaim trading credits from Smurfit as further contribution to
the joint development of the Property.
SECTION 4: The City Council of the City of Vernon hereby
authorizes the City Administrator, or his designee, to perform such
acts and deed as may be necessary or convenient to effect the purposes
of this Resolution and the transactions herein approved or authorized.
SECTION 5: The City Clerk of the City of Vernon shall
certify to the passage of this resolution, and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 4th day of September, 2007.
AT EST:
MANUELA GIRO , City Clerk
t
�.
Name: Leonis C. Malburg
Title: Mayor /
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STATE OF CALIFORNIA )
) ss
COUNTY OF LOS ANGELES )
I, MANUELA GIRON, City Clerk of the City of Vernon, do hereby
certify that the foregoing Resolution, being Resolution No. 9404, was
duly adopted by the City Council of the City of Vernon at a regular
meeting of the City Council duly held on Tuesday, September 4, 2007,
and thereafter was duly signed by the Mayor or Mayor Pro-Tem of the
City of Vernon.
"MANUELA GI ON, City Clerk
(SEAL)
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SUPPORTING
DOCUMENTS
CITY CLERK'S OFFICE
INTEROFFICE MEMORANDUM
DATE: September 12, 2007
TO: Donal O'Callaghan, Director of Light & Power
Robert Toering, Executive Director of RDA
S. Kevin Wilson, Director of Community Services & Water
FROM Nelly Giron, City Clerk
RE: Resolution No. 9404 - A Resolution of the City Council
of the City of Vernon Approving and Authorizing the
Joint Development of Property Located at 3200 Fruitland
in the City of Vernon and Ratifying Payments Made for
the Purchase of the Property and the Purchase of Reclaim
Trading Credits
Transmitted herewith is a signed copy of Resolution No. 9404,
referenced above, which was approved by City Council on September
4, 2007.
NG:dr
c: Sharon Duckworth
Resolution No. 9404
Resolution No. RA-346
Agreement No. 07-056
Agreement No. 06-054
CITY CLERK'S OFFICE
INTEROFFICE MEMORANDUM
DATE: September 12, 2007
TO: Donal O'Callaghan, Director of Light & Power
Robert Toering, Executive Director of RDA
S. Kevin Wilson, Director of Community Services & Water
FROM: Nelly Giron, City Clerk
RE: Resolution No. RA-346 - A Resolution of the Board of
Directors of the Redevelopment Agency of the City of
Vernon Approving and Authorizing the Joint Development
of Property Located at 3200 Fruitland in the City of
Vernon and Ratifying Payments Made for the Purchase of
the Property and the Purchase of Reclaim Trading Credits
Transmitted herewith is a signed copy of Resolution No. RA-346,
referenced above, which was approved by City Council on September
4, 2007.
NG:dr
c: Sharon Duckworth
Resolution No. RA-346
Resolution No. 9404
Agreement No. 07-056
Agreement No. 06-054
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RESOLUTION NO. RA-346
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF VERNON
APPROVING AND AUTHORIZING THE JOINT DEVELOPMENT OF
PROPERTY LOCATED AT 3200 FRUITLAND IN THE CITY OF
VERNON AND RATIFYING PAYMENTS MADE FOR THE PURCHASE
OF THE PROPERTY AND THE PURCHASE OF RECLAIM TRADING
CREDITS
WHEREAS, the Redevelopment Agency of the City of Vernon
("Agency") is engaged in activities necessary or appropriate to carry
out the California Community Redevelopment Law (Health & Safety Code
Sections 33000, et seq.) within the City of Vernon; and
WHEREAS, on March 22, 2006, the City Council of the City of
Vernon adopted Resolution No. 8995 approving a Standard Offer,
Agreement and Escrow Instructions and Addendum (the "Agreement") with
Pechiney Cast Plate, Inc., also known as Pechiney, Pechiney Aluminum,
Alcoa, Alcoa Aluminum Corporation, Century Cast Plate, Alcan, and Alcan
Aluminum, (collectively, "Pechiney") for the purchase of property
located at 3200 Fruitland Avenue (the "Property"); and
WHEREAS, on May 3, 2006, the City Council of the City of
Vernon adopted Resolution No. 9030 approving a First Amendment to the
Agreement to clarify and redefine certain issues relating to the
Demolition Work Plan and Remediation Work Plan set forth in the
Agreement; and
WHEREAS, Agency has determined that the Property is desirable)
and necessary for the elimination of blight, for redevelopment
purposes; and
WHEREAS, the joint development of the Property will
contribute to the redevelopment program for the City of Vernon, will
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contribute to the redevelopment of the project area, and will benefit
the health, safety, and public welfare of the City of Vernon; and
WHEREAS, the City of Vernon has paid the following amounts
towards the purchase of the Property:
$600,000.00 on April 6, 2006
$8 million on June 6, 2006
$2.7 million on December 6, 2006; and
WHEREAS, the Agency has paid the following amounts towards
the purchase of the Property:
$8.8 million on November 6, 2006
$6.1 million on December 6, 2006; and
WHEREAS, the Agency has reimbursed the City the following
amounts towards the purchase of the Property:
$7 million on August 31, 2007; and
WHEREAS, the Agency and the City of Vernon desire to jointly
develop the Property, and the Agency desires to ratify the payments
made to date by the Agency towards the purchase of the Property as part
of the Agency's contribution towards the joint development of the
Property; and
WHEREAS, on May 29, 2007, the City Council of the City of
Vernon adopted Resolution No. 9332 approving a reclaim trading credit
transaction with Smurfit -Stone Container Enterprises, Inc. ("Smurfit");',
and
WHEREAS, on or about June 1, 2007, the Agency paid the sum of
$9,624,735.00 for reclaim trading credits purchased from Smurfit; and
WHEREAS, the Agency desires to ratify the payment made by the
Agency for the purchase of reclaim trading credits from Smurfit as
further contribution towards the joint development of the Property.
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF VERNON AS FOLLOWS:
SECTION 1: The Board of Directors of the Agency hereby
finds and determines that the recitals contained hereinabove are true
and correct.
SECTION 2: The Board of Directors of the Agency hereby
approves the joint development of the Property and hereby ratifies the
payments made by the Agency in the sum of $21.9 million for the
purchase of the Property as contribution towards the joint development
of the Property.
SECTION 3: The Board of Directors of the Agency hereby
ratifies the payment of $9,624,735.00 for the purchase of reclaim
trading credits from Smurfit as further contribution towards the joint
development of the Property.
SECTION 4: The Board of Directors of the Agency hereby
authorizes the Executive Director to perform such acts and deeds as
may be necessary or convenient to effect the purposes of this
Resolution and the transactions herein approved or authorized.
SECTION 5: The Secretary of the Agency shall certify to the
passage of this Resolution, and thereupon and thereafter the same shall
be in full force and effect.
APPROVED AND ADOPTED this 4"' day of September, 2007.
ATTEST:
MXN
UELA GIR N,°Secretary
Name: Leonis C. Malburg
Title: Chairman /
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MI
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
ss
I, MANUELA GIRON, Secretary of the Redevelopment Agency of
the City of Vernon, do hereby certify that the foregoing Resolution,
being Resolution No. RA-346, was duly adopted by the Board of Directors
of the Redevelopment Agency of the City of Vernon (hereinafter
"Agency") at a regular meeting of the Agency duly held on Tuesday,
September 4, 2007, and thereafter was duly signed by the Chairman or
Vice Chairman of the Agency of the City of Vernon.
(SEAL)
MANUELA I ON, Secretary
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