2010-105 -Amend The Appointment Of Boards/Commission/Committee And Members ProceduresRESOLUTION 2010 -105
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS
APPROVING A FIRST AMENDMENT TO THE FIRST AMENDED AND RESTATED
EXCLUSIVE RIGHT TO NEGOTIATE AGREEMENT
FOR THE 20 DITTOS LANE PROPERTY (APN 529 -29 -034)
WHEREAS, on September 21, 2009, the Redevelopment Agency of the Town of Los
Gatos (the "Agency ") and Dittos Lane Family Housing, L.P. ( "DLFH "), an affiliate of Roem
Development Corporation, entered into an Exclusive Right To Negotiate Agreement (the "Initial
ERNA ") setting forth terms for negotiation of a disposition and development (a "DDA ") for
potential development of an affordable housing development on an approximately 1.58 acre
parcel at 20 Dittos Lane (APN 529 -29 -034) (the "Property ") in the Central Los Gatos
Redevelopment Project Area that is currently owned by the Agency; and
WHEREAS, on February 16, 2010, the Agency and DLFH entered into a First Amended
and Restated Exclusive Right to Negotiate Agreement for the Property (the "Amended ERNA ")
that amended and restated the Initial ERNA to extend the negotiating period to December 20,
2010 and to provide for a predevelopment loan by the Agency to DLHF; and
WHEREAS, The Agency and DLFH have made progress in negotiations pursuant to the
Amended ERNA, and have determined that, in order to complete negotiations of a mutually
acceptable DDA and the appropriate accompanying California Environmental Quality Act
documentation for consideration by the Agency Board and the Town Council, it would be
appropriate to extend the negotiating period under the Amended ERNA from December 20, 2010
to March 31, 2011, and to authorize the Agency Executive Director to modify the milestone
schedule attached to the Amended ERNA to reflect such extension to the negotiating period; and
WHEREAS, to achieve the foregoing purposes, staff has prepared a proposed First
Amendment to the Amended ERNA (the "First Amendment to Amended ERNA "), the form of
which is attached to this Resolution as Exhibit A; and
WHEREAS, the staff report accompanying this Resolution provides further information
about the purpose and effect of the proposed First Amendment to Amended ERNA.
RESOLVED, by the Board of Directors of the Redevelopment Agency of the Town of
Los Gatos, that the First Amendment to Amended ERNA is hereby approved and the Executive
Director is hereby authorized to execute the First Amendment to Amended ERNA in
substantially the form of the Exhibit A.
PASSED AND ADOPTED at a regular meeting of the Board of Directors of the
Redevelopment Agency of the Town of Los Gatos, California held on the 6 th day of
December, 2010 by the following vote:
IGUIRKWITIMI
AYES: Steven Leonardis, Diane McNutt, Steve Rice, Barbara Spector, Mayor Joe Pirzysnki
NAYS:
ABSENT:
ABSTAIN
SIGNED:
AIRMAN HE BOARD OF DIRECTORS
THE REDEVELOPMENT AGENCY OF THE
TOWN OF LOS GATOS, CALIFORNIA
ATTEST:
c
CLE INISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFOPNIA