HomeMy WebLinkAboutFresno Diamond Group 02151994 Processing AgmtCAyol
REPORT TO THE REDEVELOPMENTEAEN DA ITEM NO. de0-D
CY MEETING d S
DATE. February 11, 1999 Annefu at
wr
FROM: ALVIN P. SOLIS, DirectorWW Q '
Development Department
BY: NICK YOVINO, PlInn. Manager
Planning Divislo In
SUBJECT: APPROVAL OF DOWNTOWN SPORTS/ENTERTAINMeNT STADIUM
PROCESSING AGREEMENT AS A CONPONENT OF THE PROPOSED
STADIUM DEVELOPHENI PROTECT
The proposed Downtown Sports/Entertainment Stadium redevelopment
project was presented to the City Council/Redevelopment Agency on
November 2, 1993, for initiation of the review and consideration
processes. These processes include the project related plan
amendments, development entitlements, preliminary acquisition
agreements, preliminary engineerin and deli
environmental assessment So review,
investigation. In addition totheesite hazardous substances
received a list of ^Proposed Developmentprocesses, the city council
of
Negotiation, presented by The Fresno Diamond Group ts for
consideration and incorporation within a draft disposition and
development agreement. The City Council/Redevelopment Agency
authorized the City Manager to negotiate a draft die oeition and
dev proposed ment agreement to be prepared and considered as a part of
project and related environmental assessment.
Concurrently with the project evaluation and environmental
ssessment processes the City staff and representatives of The
Fresno Diamond Group have worked coop
stadiument era[hely [c refine the
andre responsi
bilities cies to beaaee geed to i thetheproject Obligations
the stadium developer. These Redevelopment Agency and responsibilities have been project obligations
Processing Agreement which specified within the proposed stadium
further consideration thick h the Is w submitted for accepance and
assessment Processes. trouContgh project review and environmental
of the gent upon the completion and approval
the required environmental findings and project entitlements,
project provisions Set forth within the attached entitProcelements
incoAgrerporated
or as Amended through the project review process ill be
rporated intM ubsequent Disposition sand Development
Agreement, hick ill be returned to the Council for final review
and approval.
EUCKGRGDHo
The DOW¢COwn Sports/Entertainment Stadium is proposed for the
approximately 11 -acre area bound by Tulare, 8roadway/^H^ and enyo
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REPORT TO THE COUNCIL
Page 2, 1994
February 11, 1994
Streets and the Broadway/Fulton alley. Thin site is located at the
edge of the Central Business District Redevelopment Plan Area at
the southwest comer of the Fulton Mall. This location advocated by the "Central Area Urbanation wa
Design Strategy' ation vas
Plan) to most effectively integrate the facility with the urban
commercial center and to maocimize support of the downtown cora
utilization
area.m addition, this location promotes the most effective
liza[ion of ezinting facilities and attributes of the Central
Area and optimizes utilization of the limited resources of both the
City Of Fresno and the Fresno Redevelopment Agency,
On December 15, 1992, The Fresno Diamond Group received approval of
an exclusive agreement to prepare a stadium development business
pan which was presented to the City Council/Redevelopment Agency
l
April 20, 1993. At that time, The Fresno Diamond Group was
authorized to proceed with the implementation of a stadium
development marketing and sales program. Based upon the initial
responses to the Stadium financing options presented by the
^Summary Level Business plan", The Fresno Diamond Group pursued a
Stadium development strategy to access private Sector financing to
construct the Stadium and its ancillary features estimated to cont
approximately $15,000,000. This financing strategy also relied
Upon public agency participation to prw ide an appropriate
buildable Site to accommodate a funecichal stadium Structure with
adequate supporting facilities.
The proposed Processing Agreement identifies the stadium facilities
to include a seating capacity of 15,000 for baseball games and
10,0D0 to 20,000 patron capacity for concerts and other
entertainment events. The stadium is to include skyboxes or other
special seating accommodations, stadium club restaurant, retail
spaces (1 e. souvenir gift shops), concessions, stadium and team
administrative offices, warehouse and maintenance buildings,
football omhome
and visitor locker rooms, locker row, weight training
roan, koncert stage and dressing room, loading and staging area,
event teat area with adjoining commieaary and limited
player/employee parking. These facilities re to be provided
consistent with applicable codes and development standards and have
Dh San depicted by site plan and architectural elevations submitted
for the project conditional use permit.
A
significant advantage of the proposed stadium site is that much
f the property in owned by the Fresno Redevelopment Agency or is
Pepe ly avaity lable to the Agency. Even with this advantage, the
assembly and site preparation work necessary to
accommodate a suitable Stadium with its supporting facilities may
necessitate a substantial investment of the City's and Agency's
e
REPORT TO THR CITY COUNCIL
Page 3
February 11, 1994
staff and financial resources. The provision of a buildable
stadium Bite requires aggregation of the remaining privately owned
parcels, demolition, vacation of public right -Of -ways,
reconstruction Of street and public facility improvements and Bite
environmental remediation work. Because the project evaluation,
environueral assessment and site hazardous Substances
investigation are not complete, the full cost Of site acquisition
and preparation can not yet be determined. However, the staff has
identified a preliminary cost estimate ranging from $4,200,000 to
15,300,000, which includes $1,200,000 for storm drainage
mprovements already comaitted to by the City.
The estimated coat range does not include the potential cost to
remediate hazardous substances nor the income derived from the site
Purchase price to be paid by The Fresno. Diamond Group. However,
the proposed Processing Agreement provides that a condition
precedent to acquisition of the privately owned parcels is that the
total remediation coats to the City/Agency shall net exceed
$750,000. In addition, the Processing Agreement provides that The
Fresno Diamond Bruce shall pay a purchase price of $750,000 for the
Parcels identified for disposition.
The Processing Agreement specifically note, that the obligations
and requirements of the City Of Fresno and Redevelopment Agency,
including the approval and execution of a Disposition and
Development Agreement, are contingent upon the completion and
approval of project entitlements and environmental findings, which
are discretionary in nature and cannot be taken or cczmitted to be
taken in advance. The Agreement alsores the submittal of a
Financing Plan and a Plan of Organizatioprior to approval of and
execution Of the Disposition and Development Agreement and
cOnveyance of the stadium site to the developer. The Financing
Plan shall be a binding contractual commitment from a qualified
source or sources to provide equity and debt capital in the
aggregate amount of $15,750,000 to be available to pay the purchase
PrIce for the stadium property and the cost, Of stadium
Ponc
truction. The Plan of Organization shall disclose the name of
the developer, the identities and qualifications of its officers
and directors, identities of the shareholders or partners,
ro
forma statement Of assets and liabilities of the developers and
such other information as may reasonably be required by the Agency
to determine the identification and qualifications; of the persona
in Control of the Developer's performance of obligations.
The Fresno Diamond Group's Summary Level Business Plan also
Provided projections of the stadium's operational costs and
REPORT TO TRE CITY COUNCIL
Page 4
February 11, 1994
revenues. A aignif icaut component of the projected stadium revenue
stream, also included within the ^Proposed Development Agreement
Points of Negotiation^, is the implementation of a proposed $4
special event parking £ee within the Central Area, of which the
stadium developer will receive $3 for repayment of private
investment and ongoing stadium maintenance. The proposed
Processing agreement identifies the intention of the City/Agency to
consider creation of this special event parking fee and enforcement
together with the adoption of an ordinances to control 'ticket
scalping', sale of unlicensed merchandise/souvenir items, and the
implementation of sound ordinance provisions to accommodate stadium
activity sound levels.
CONCLUSION AND RECO. ATIONS
In order to proceed with the processing and consideration of the
Downtown Sports/Entertainment Stadium proposal, staff recovrneods
that the City Council and Redevelopment Agency take the following
action:
1. Approve the attached Downtown Sports /Entertainment Stadium
Processing Agreement setting forth parameters for review of
pending
rDdi g entitlements and subsequent Disposition and
nevelopment Agreement.
DU:vs
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Attachment A: Downtown Sports/Entertainment Stadium Processing
Agreement
DOWNTOWN SPORTS/ENTERTAINMENT STADIUM
PROCESSING AGREEMENT
BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF FRESNO,
THE CITY OF FRESNO, AND
FRESNO DIAMOND GROUP
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TABLE OF CONTENTS
Paas
TABLE OF CONTENTS ..................................
.........
I
RECITALS ..................................
..................
1
SECTION 1.
DEFINITIONS ...................................
3
SECTION 2.
SALE.
PURCHASE PRICE ..........................
5
SECTION 3.
CONVEYANCE OF PROPERTY . ....................
6
(a)
Form of Deed ..............................
6
(b)
Time and Place for Delivery of Dead .............
6
(c)
Apportionment of Current Taxes ................
7
(d)
Recordation of Dead .........................
7
(a)
Evidence of Thus and Escrow Fees ..............
7
(r)
Developer's Negotiation of Certain Parcel Acquisitions
e
(g)
Closing Dale ..............................
0
SECTION 4.
TIME
FOR CERTAIN ACTIONS ......................
9
(a)
City Discretionary Actions .....................
9
(b)
No Commitment as to Outcome .................
10
(c)
Approval of Financing Plans and Plan of Organization .
10
(d)
Time Limits ...............................
10
SECTION 5.
REQUIREMENTS OF THE DEVELOPER ...............
11
(a)
Description of the Project .....................
11
(b)
Construaim Schedule .......................
12
(c)
Certain Covenants To Run With The Land ..........
12
(d) Events of Default Under This Agreement ..........
15
(e) Usage Covenants ................. ..........
16
(I) Developer Construction Option .................
17
SECTION 6.
REQUIREMENTS OF THE AGENCY AND CITY. ........
18
SECTION 7.
PUBLIC IMPROVEMENTS. ........................
23
SECTION 8.
CONDITIONS...................................
24
(a) Environmental Audit .........................
24
(b) Failure to Approve Site Plan ...................
25
(c) Failure to Modify Plans and Adopt Ordinances ......
25
(d) Termination of Agreement for Failing to Grant a
Discretionary Approval .......................
25.
SECTION 9.
PERIOD OF DURATION OF COVENANT ON USE. ......
26
SECTION 10.
NOTICES AND DEMANDS .........................
26
SECTION 11.
SPECIAL PROVISIONS. ..........................
27
(a) Anti-Discrimination Covenants ..................
27
(b) Deeds...................................
27
(c) Leases.................................
.. 27
SECTION 12.
UTILITY RELOCATION COSTS......................
27
SECTION 13.
PARTIES NOT PARTNERS .........................
28
SECTION 14.
GOVERNING LAW ...............................
28'
SECTION 15.
COUNTERPARTS. ..............................
28
SIGNATURE
PAGE........................................
29
EXHIBITS...
_............................................
30
DOWNTOWN SPORTS/ENTERTAINMENT STADIUM
PROCESSING AGREEMENT
THIS PROCESSING AGREEMENT (hereinafter "Agreement") is made on or as
of the day of the _tlay of 1994, by and between the
REDEVELOPMENT AGENCY OF THE CITY OF FRESNO, a public body, corporate
and politic, hereinafter referred to as the "Agency", the CITY OF FRESNO, a municipal
corporation, hereinafter referred to as Me "City," and FRESNO DIAMOND GROUP, a
Calibmia corporation, or its nominee, hereinafter referred to as the "Developer".
RECITALS
A. Developer is interested In constructing and operating a 4riple An Class
baseball stadium in downtown Fresno. The stadium shall be financed and constructed
by Developer and will feature approximately 15,000 seats, approximately 36 skyboxes,
a Stadium Club restaurant, several retail spaces (i.e. souvenir gift shops), stadium and
team administrative offices, concessions, warehouse, maintenance building, home and
visitor locker roams, weight training room, football locker room, a concert stage and
concert dressing room, a leading and staging area, event tent area with adjoining
commissary, and player/employee parking lot.
B. To this end, Developer has been exploring alternatives for the
development of a multi -use sport stadium within the boundaries of the Central
Business District Redevelopment Area. The objective is the development of a Sports
and Entertainment Complex (the "Stadium') which will serve the entire San Joaquin
Valley and provide a multipurpose facility to attract residents, tourists, and events M
downtown Fresno.
C. In furtherance of the objectives of Me Community Redevelopment law of
Me State of California (Health and Safety Code Sections 33000 at sea.) and the
objectives addressed in the negotiations, Me Agency and Developer desire to carry
out an urban renewal project as described In Section 5(a) of this Agreement and as
more particularly described in Exhibit W entitled 'Project Description' attached hereto
and incorporated herein by this reference.
D. In ardor to enable the Agency to achieve Me objectives of Me Urban
Renewal Plan and particularly to make the land in Me Project Area available for
redevelopment by private enterprise in accordance with Me uses specified in the
Urban Renewal Plan, the City has undertaken to provide and has provided substantial
assistance to Me Agency in the Central Business District Project Area.
E. Upon Me condition Mat the City and Agency have available funds for Me
acquisition of certain parcels of property within Me Project Area, Me Agency offers to
sell and Me Developer is willing to purchase those certain parcels of property located
In Me Project Area and more particularly described In Exhibit W (hereinafter refered
to as the 'Property') attached hereto and made a pad hereof by this reference, and to
redevelop the Property for and in accordance with the uses specified in the Urban
Renewal Plan and in accordance with this Agreement.
F. The Agency believes that Me redevelopment of the Property pursuantto
Mis Agreement, and the fulfillment generally of Me terms of this Agreement, are in the
vital and best interests of Me City and Me County and the health, safety, morals, and
E
welfare of its residents, and in accord with the public purposes and local laws and
requirements under which the Project has been undertaken and is being assisted- In
addition, the Project will have a positive influence on the area and surrounding
environs In that It will help eliminate blight, put under-utilized land to productive use
and provide jobs for the local economy.
G. In furtherance of arriving at this Agreement the Agency and Developer
have. expended considerable time, effort and money to implement the Urban Renewal
Plans, including, but not limited to, sums of money for economic feasibility studies,
design and architectural plans, survey and project planning.
NOW, THEREFORE, in consideration of the premises and the mutual
obligations of the parties hereto, each of them does hereby covenant and agree with
the other as follows:
SECTION 1. DEFINITIONS.
Unless the particular provision or context otherwise requires, the definitions
contained in I section shall govern the construction, meaning and applications used
in this Agreement
(a) 'Area of Influence- means the area within the following steel
boundaries --Freeway 41, Tuolumne,'P' Street and "E' Street.
(b) 'Available funds" means money available for a particular
expenditure in accordance with ail applicable laws, policies and procedures of
the Agency or City, whichever is applicable. The term 'available funds' may
include those tax increment funds received by the Agency and other
9
discretionary funds dedicated to the Project by the City Council and/or Agency
Board.
(c) 'City means the City of Fresno, a municipal corporation, which is
a separate and distinct legal entity from the Agency.
(d) 'Developer' shall also mean redeveloper within the meaning of the
Community Redevelopment Law of the State of California.
(a) 'Development' shall mean the Fresno Diamond Group or its
nominee and shall also mean redevelopment within the conte d of the
Community Redevelopment Law of the State of California.
(f) 'Financing Plans" means a binding contractual commitment from a
qualified, as defined by the Agency, source or sources to provide equity and
debt capital in the aggregate amount of $15,750,000 to be available as and
when needed to pay Ma Purchase Price for the Property and the costs of
construction of the Project.
(g) 'Improvement District means an improvement or acquisition
district created pursuant to either the Improvement Act of 1911 or the Municipal
Improvement Act of 1913 and the Municipal Code of the City.
(h) 'Life of Stadium' means the use of the stadium for Me purposes
enumerated under Section 5(a) by Developer.
(i) "Project' shall mean the scope of the development as described In
Exhibit 'B.'
(i) 'Plan of Organization' means documentation disclosing Me name
of the Developer, the identities and qualifications of its officers and directors,
11
the form of entity, the Identifies of each of Its shareholders or partners owning
five percent (5%) or more of any class of the outstanding stock or any class of
partnership units, a pro forma statement of assets and liabilities of the
Developer as of the Closing Date, as defined in Section 3(g) of this Agreement
and such other information as may reasonably be required by the Agency to
determine the identification and qualifications of the persons in control of the
Developer's performance of its obligations under this Agreement.
SECTION 2. SALE. PURCHASE PRICE.
(a) Subject to all terms, covenants, and conditions of this Agreement,
the Agency shall convey to the Developer certain parcels of property described
in Exhibit W. Prior to Me transfer of properties, Developer shall have
submitted an acceptable Financing Plan and Plan of Organization. It is
acknowledged by Me parties hereto, that Assessor Parcel Nos. (APNs)
468-284-23 and 468-284-24 will be acquired by Me Agency pursuant to Option
to Purchase Agreements. It Is possible that APNs 468-284-31, 46&281-16,
and 468-281-18 will be acquired through negotiations by Me Agency. Nothing
herein shall require Me Agency or the City to acquire said parcels through the
use of eminent domain proceedings. Copies of option agreements for APN's
468-284-23 and 468-284-24 are attached hereto as Exhibits 'C-10 through 'C-3'
Inclusive. The Agency will consider renting, leasing or selling APN 468.282-23T
to Me Developer for use for parking or staging operations during special events
at Me stadium. As a further condition precedent to acquisition, Me site clean-
up cost estimates received after completion of the Level 11 assessment shall not
exceed the $750,000 maximum amount for Me clean-up of the Project Area and
related contaminated parcels required to be remediated by City or Agency.
(b) Subject to all terms, covenants, and conditions of this Agreement,
the Agency will sell certain property as described in Exhibit's' and the
Developer will purchase said property from the Agency and pay Me amount of
Seven Hundred Fifty Thousand and no cents ($750,000) (hereinafter referred to
as 'Purchase Price'). The Purchase Price for Me parcels shall be paid in cash
or ceNFled check simultaneously with Me delivery of the Deeds conveying said
properties to the Developer. Said transaction shall he completed through an
escrow Mat shall be handled at Agency's expense by an agent that is mutually
acceptable to all parties.
SECTION 3. CONVEYANCE OF PROPERTY.
(a) Form of Deed. The Agency shall convey to Me Developer title to
the property for Me Project by Grant Deed (hereinafter referred M as Me
'Deed' or'Deeds') in a forth set forth in Exhibit -D' attached hereto and made
a part hereof by his reference or such other form as Me parties may mutually
agree in wdGng. Such conveyance and tille shall be subject to the appropriate
Urban Renewal Plan and M all other conditions, covenants and demotions set
forth or referred M in this Agreement
(b) Time and Place for Delivery of Deed. The Agency shall deliver
the Deeds or Deeds and possession of Me Property which Agency is obligated
to acquire pursuant to Section 2(a) of MIs Agreement at the close of escrow no
later than Me Closing Date established in this Agreement. Conveyance shall be
IY
made at the principal office of the Agency or the office of the escrow agent
selected to handle the escrow by mutual consent of the Agency and Developer
and the Developer shall accept such conveyance and pay to the Agency at
such time and place the purchase price therefor as set forth in Section 2 above.
(c) Apportionment of Current Taxes. The portion of the current taxes,
if any, on the Property conveyed by Agency as descrbed in Exhibit's" which is
a lien on the date of delivery of Me Deed or Deeds to the Developer shall be
prorated between the Agency and the Developer as of the date of Me delivery
of Me Deed or Deeds, respectively. If Me amount of Me current taxes on the
Property is not ascertainable on such dale Me proration between the Agency
and the Developer shall be on Me basis of the amount of the most recently
ascertainable taxes on Me Properly, but such proration shall be subject to final
adjustment within thirty (W) days after Me date or dates of the actual amount of
such current taxes is ascertained.
(d) Recordation of Deetl. The Escrow Agent shall promptly file the
Deed or Deeds for recordation among Me land records of the place in which
the Property is situated. The Agency shall pay all costs for recording any of Me
Deeds.
(a) Evidence of This and Escrow Fees. Evidence of ffile is to be in
Me form of a standard ALTA owners policy or policies of title insurance Issued
by or through a fide company mutually acceptable to Me Agency and
Developer, the fee for such policy or policies of fitle insurance, with a policy limit
7
Of $750,000, shall be paid by the Agency. The escrow fees shall be bome by
Me Agency.
(f) Developer's Negotiation Of Consul Parcel AsQuistLons. Developer
may undertake to negotiate the purchase of one (1) or more of the three (3)
Properties in Exhibit -13- (the 'Tulare Frontage Properfies').
If Me Developer is successful in negotiating the terms and conditions in
which the owners will sell the one or more of Me Tulare Frontage Properties to
Me Agency before the Agency conveys to the Developer the Property described
in Exhibit W, the Developer may require the Agency M purchase the Tulare
Frontage Properfies and convey them to Me Developer on the same terms and
conditions as if Me Tulare Frontage Properties were part of the original Property
for all purposes of this Agreement. If the sum of Me Purchase Price plus real
estate brokerage commissions payable by Me Agency for the Tulare Frontage
Properties exceeds the fair market value of Mat property, as determined by an
agreed upon appraisal, Me Purchase Price shall be increased by the amount of
Me excess. The Agency will provide to any qualified seller of Me Tulare
Frontage Properties Me relocation and other benefits made available to sellers
Of the Property, identified in Exhibit 'el
(g) Closing Date. The Closing Date is Me date on which Me
Purchase Price shall be paid to Me Agency and the Property will be Conveyed
W Me Developer through the escrow established under this Agreement for that
Purpose. The Closing Date shell be May 31, 1994, unless extended by City,
Agency or Developer as allowed by this subsection.
M
Developer may extend Me Closing Date by notice to Agency, which shell
set forth the reason for the extension and the new Closing Date, but
(a) Developer may not extend the Closing Date mare than three (3) times, and
(b) any notice to extend the Closing Date most be given at least thirty (30) days
in advance of the Closing Date established by this paragraph or by earlier
extension(s), as Me case may be, and (c) Developer may not extend the
Closing Date to a date that is later Nan November 2, 1994.
City or Agency may extend the Closing Data by notice to Developer,
which shall set forth the reason for Me extension and the new Closing Dale, but
the City or Agency may not extend the Closing Data except for reasons beyond
the reasonable control of City or Agency.
SECTION 4. TIME FOR CERTAIN ACTIONS.
(a) City Discretionary Actions. On November 2, 1993, the City and
Me Agency commenced the necessary procedures for the amentlments of the
Plans, the issuance of the Permits, the abandonment of Me rights-of-way, and
other discretionary actions necessary for the implementation of the Project.
Those actions cover the full range of planning, land use, zoning and other
permits and public actions required for the Project, which include, but are not
limited to, the following: the approval of a Disposition and Development
Agreement; the issuance of a conditional use permit amendments to the
Central Business District Urban Redevelopment Plan; abandonment of public
tights -of -way; and environmental review of the Project under the Ce)ifomla
Environmental Quality Act ('CEOA') and the National Environmental Protection
Act ('NEPA'), if applicable. The City and the Agency will diligently prosecute all
of those processes to a conclusion, with the intent and expckrudion that the final
action on all such matters will betaken on or before April 26, 1994.
(b) No Commitment as to Outcome. Nothing herein requires the City
or the Agency to grant final approval of any matter described in paragraph (a).
It is understood that the matters therein described are legislative, quasi-judicial
or otherwise discretionary actions that cannot be taken or committed fo be
taken pier to the completion of the environmental assessment under CEOA
and NEPA, if applicable.
(c) Approval of Financing Plans and Plan of Omanization. Developer
Shelf submit Its Financing Plans and Plan of Organization to the Agency at least
thirty (30) days before the Closing Date. The Agency shall promptly review the
submitted materials and, it the submitted materials do not Include all information
required by this Agreement, the Agency shall submit its request for the
additional information required by this Agreement within ten (10) business days
after receiving the materials submitted by Developer. Developer shall promptly
assemble and deliver to the Agency the required additional information. The
Agencys approval of the Developer's Financing Plans and Pian of Organization
is a condition precedent to the Agency's execution of a Disposition and
Development Agreement, and that approval shall not unreasonably be withheld
or delayed,
(d) Time Limits. The time limits listed herein are based upon the best
estimates of the parties. Said time limits may be extended by either party
10
based upon additional public hearings, environmental review, natural disasters,
work stoppages or other similar delays. Attached hereto as Exhibit'E' is a
Proposed schedule of hearings and other milestones anticipated by the parties.
The parties shall use Meir best efforts to meet these scheduling goals.
SECTION 5. REQUIREMENTS OF THE DEVELOPER.
(a) Deebrlptien of me PrOlwt, Developer shall construct and operate
a'Triple A' Class baseball stadium at the designated site in downtown Fresno.
The required elements of the stadium shall be Included in the Disposition and
Development Agreement Which shall also cornea minimum maintenance
requirements based upon Mose standards Mat apply to similarly situated
Triple "A" Baseball Stadiums. The Stadium shall be financed and constructed
by Developer and must contain:
(1) Approximately 15,000 seats;
(2) Approximately 36 skyboxes;
(3) A Stadium Club restaurant;
(4) Several Retail spaces (i.e., souvenir gift shops);
(5) Stadium and team administrative offices;
(6) Concessions;
(7) A warehouse;
(8) A maintenance building;
(9) Home and visitor locker rooms;
(10) Weight training room;
(11) A football locker room;
fit
(12) A concertstage and concert dressing room;
(13) A loading and staging area;
(14) Event tent area with adjoining commissary; and
(15) A player/employee parking lot.
(b) Construction Schedule. As pari of any Disposition and
Development Agreement entered Into by the parties, the Developer shall
commit to a construction schedule for completion of the Stadium. Said
schedule shall be for a pence of eighteen (18) months in duration from the time
of the issuance of the building permit for construction of the Stadium.
Developer shall be required to obtain its building permit on or before
November 2, 1994. Said construction schedule shall be extended by a
reasonable allowance on account of delays mused by the occurrence of
strikes, natural coasters, or litigation challenging any required project approvals.
Developer shall commence construction within twenty (20) days after the
Building Permit is issued and shall diligently Proceed to complete the Project. If
the Project Is not completed within the time limits set forth, the Agency anchor
City shall have the right to take back title to the Project subject to any lights
held by Developer's lender. Except for the Lenders rights, the Project shall be
returned free and clear of any other liens, claims or encumbrances.
(c) Certain Covenants To Run With The Lantl. The Developer
covenant for Itself. its heirs, executors, administrators, successors and
assigns, and all persons claiming under or through them, that said Developer,
IK
and such heirs, executors, administrators, successors and assigns, and all
persons claiming under or through Mem, shall:
(1) Devote the Property and all improvements now existing or
hereafter existing thereon, to, and only to and in accordance with, the
uses, restrictions and conditions specified in the Plan, as amended, and
submit for Agency approval all building plans, including but not limited M
plans for facade treatment and signs to be attached to the outside of the
building; and
(2) Not effect or execute any agreement, lease, conveyance, or
other instrument whereby the Property or any part thereof is restricted
upon the basis of race, religion, color, or national origin in the sale, lease
or occupancy thereof; and,
(3) Not discriminate against or segregate any person, or group
of persons, on account of race, color, creed, national origin, or ancestry
In Me sale, lease, sublease, rental, transfer, use, occupancy, tenure, or
enjoyment of the Property herein referred, or any Improvements erected
or to be erected thereon, nor shall Me Developer itself, or any person
claiming under or through it, establish any such practice or practices of
discrimination or segregation with reference to the selection, location,
number. use or occupancy of tenants, lessees, subtenants, sublessees,
or vendees in the Property herein referred; and,
(4) Provide in all leases, subleases or conveyances affecting
the Property, Mat no person shall, on the ground of race, color, or
13
national origin, be excluded from participation in, be denied the benefits
of, or be subjected to discrimination under any program or activity of this
Agreement; and,
(5) Comply with all Federal, State, and local laws, In effect
from time to time, prohibiting discrimination or segregation by reason of
race, religion, calor, or national origin In the sale, lease or occupancy of
the Property.
It is intended and agreed that the agreements antl covenants provided in
this paragraph (c) shall be covenants running with the land and that they shall
Inure to the benefit of and be enforceable by the Agency, its successors and
assigns, and the owner of any other land in the Project Area which is subject to
the land use requirements am restrictions of the Plan, as amended. It is
further intended and agreed that the covenants Contained in paragraphs (2)
through (5) inclusive, of Section 5(c) hereinabove of the Agreement, shall
remain in effect without limitations as to fame.
The agreements and covenants of this Agreement shall run In favor of
the Agency, its successors and assigns and the United States, for the entire
period during which such agreements shall remain in force and effect without
regard to whether the Agency or the United States has at any time been,
remains, or is an owner of any land or Interest therein to which these covenants
relate. In the event of any breach, the Agency or the United States shall have
the right to exercise all the rights and remedies available at law or in equity to
14
enforce Me curing of such breach, in addition to any remedies contained in this
Agreement.
(d) Events of Defauh Under This Agreement The following
occurrences shall constitute events of default:
(1) Failure of the Developer to comply with or satisfactorily
perform any of the terms, covenants or requirements of this Agreement,
and any amendment thereto, or Me Plan; or,
(2) The fact Mat my representation or warranty made by or on
behalf of Me Developer In connection with Me Developer selection
Process, the execution of this Agreement, or any other agreement,
instrument, or document referred to herein, or submitted to Me Agency or
City of Fresno in connection wM the construction, redevelopment or
rehabilitation of the Property shall prove at any time to have been
incorrect in any material respect when made.
(3) The Developer shall not be deemed in default for delay or
failure In performance of any of its obligations under Mis Agreement
where Me delay or failure is caused substantially by any cause that is
beyond Me control and without the fault of Developer, including but not
limited to AM of God; unusually severe weather; unusually severe flood;
earthquake; war; riot; act of the public enemy; governmental quarantine,
Priority or remotion; action or failure to act by any governmental
authority having jurisdiction; labor unrest or sinks; unforeseeable inability
W secure labor, materials, supplies, teols or transportation; or any similar
15
or different cause. In Me event of such a delay, the Developer shall
nobly the Agency within we weeks after the delay begins, describing the
delay and Me cause(s) in reasonable detail and an estimate of the time
needed to overcome Me effects of delay. If such notice Is given within
the two week period, the Developer shall be entitled to an extension of
time to perform for a period reasonably necessary to overcome the
effects of the delay. The extension shall be stated in a writing signed by
authorized representatives of the Agency and Developer.
(e) Usage Covenants. The Developer agrees Mat every conveyance
Of title from Me City or Agency to Properly covered by this Agreement
subsequent to the date hereof, including leases and assignments, shall, in
addition to any other covenants, contain Me following covenants on the part of
Me Developer for itself, its hairs, successors, and assigns of Ma Property
described herein, which shall be covenants running with the land and shall bind
Me Developer, its heirs, executors, administrators antl assigns and all persons
claiming under or through them:
(1) A covenant that the Developer, its heirs, successors and
assigns, of Me Property or any part thereof and any lessee of Me
Property or any part thereof, will and shall carry out Me work of the
redevelopment of Me Property or part or parts thereof as in Mis
Agreement provided, and will and shall devote such Property to Me uses
specified in the Plan, as amended.
Q
(2) A covenant that the Developer, its heirs, successors and
assigns, of the Property or any part thereof and any lessee of the
Property or any part thereof, will adhere to and abide by Me provisions
and clauses as hereinabove detailed in Secton 5(c).
(3) A covenant that after the satisfactory completion of any
construction or allocations to the Property referred 0 herein, and made
necessary by this Agreement, Me Property shall, for as long as the Plan
is in effect, be devoted to Me uses specified in the Plan, as amended,
and shall not, in whole or in can, be devoted to any other use or used
for any other purpose.
(i) Developer Construction Option. Developer may elect to purchase
me Property before the demolition, filling and grading required by Section 6(b),
(c) and (d) and any hazardous material clean-up of Me Property have been
started or completed by me Agency. Before the Agency lets any contracts for
any of that work or commences any of that work, it shall meet and confer with
Developer to determine (1) a fair estimate of the value of Me work, and
(ii) whether Developer will undertake Me work after the Close of Escrow. If the
parties agree on a fair estimate of the value of the wo* and Developer chooses
to undertake the work, atter me Close of Escrow, Developer shall receive a
credit against the Purchase Pace in the amount of the fair estimate to which the
parties have agreed, up to $750,000, and the amount of the fair estimate for the
work to which me parties have agreed Is more Man $750,000, Me Agency shall
Pay the balance to the Developer within mirty (30) days after me completion of
17
the work. Within thirty (30) days atter completion of the work, Developer will
provide to the Agency an amounting of the work ard, if the Developer's cast for
the work is less than Me agreed value, the Developer will immediately pay the
difference to the Agency. The use of this subsection (f) (Developer
Construction Option) shall be subject to legal review and approval of the City
Attorney.
SECTION & REQUIREMENTS OF THE AGENCY AND CffY.
Agency conveyed property shall be in a cleared aM buildable condition. The
work needs to be done by either Me City or the Agency and shall include the
following:
(a) Acquire the property; including the abandonment of the
northeasterly 12' of the existing-Broadway/H' Street right-of-way between
Tulare and Inyo Streets and any other public rights-of-way and public utility
easements on the property. Any public utility easements shall be moved
according to applicable franchise agreements.
(b) Demolish buildings.
(c) Fill In and compact in the temporary ponding basin.
(d) Grace to pati elevation as mutually agreed to by the parties.
(e) Complete all required public infrastructure improvements deemed
necessary by the Agency or the City.
(0 Establish within the D&DA coordination between FDG construction
and City of -site improvements.
(g) The Agency shall be responsible for.
IL'1
(1) All Impositions for public infrastructure Improvements,
including public utility improvements deemed necessary by Me
Agency and Me City;
(2) All fees, costs and charges of the Agency and the
City for the issuance of permits for Me development of Project
including, but not limited to, amendments of public plans, a
conditional use permit, grading permits and building permits;
(3) The cost of clearing the Property of buildings, the
cost of removing from the Property any toxic and hazardous
substances at a cost not to exceed $750,000, and Me cost of
placing Me Property in a clean, neat, and rough -graded level
condition ready for finish grading for Me commencement of
construction. Clean-up costs shall include all costs associated
with cleaning up Me actual land conveyed to Developer and clean-
up costs for necessary remediafion surrounding parcels containing
contamination reasonably related to Me on-site contamination.
(4) All fees for drainage service, all City fees for
connection to public water and sewer service, a all other
governmental fees and charges (except for school impact fees)
imposed as a condition to the development of the Project.
To protect and insure that event -generated income streams will be
available to Developer, City will take certain actions with respect to the Project's
Area of Influence as follows:
19
(1) Consider the adoption of a ticket scalping ordinance. This
ordinance would prohibR the sales or solicitation of stadium customers
within the Area of Influence.
(2) Enforce the City's parking lot standards on all non -City
owned or contralled lots to the event allowable by law.
(i) On -street parking - Cry will assist in decreasing on -
street parking at agreed locations in the Stadium area on event
dates to help flow of Mettle Any such agreement shall be
negotiated as part of the Disposition and Development Agreement.
Said agreement should balance the needs of Me surrounding
businesses with Mose of Me Stadium. City shall consider on -
street parking regulations which allow the usage of an envelope
system which gives Three Dollars ($3,00) per vehicle to Developer
and One Dollar ($1.00) par vehicle to City. The refusal to
implement such an envelope system shall not be grounds for
termination of this Agreement or a refusal to proceed with the
Project City shall also consider meter and time zone enforcement
during events with Three Delete ($3.00) per parking violation
going to Developer. Said citation system shall be subject to
applicable laws and agreements particularly those subject to
current litigation with the County of Fresno.
(ii) Off.Stmet parking - enforce parking lot standards on
Private lots charging parking fees on event days.
K61
(3) Implement a sound ordinance to allow for stadium event
sound levels.
(4) The City will consider the adoption of measures to prohibit
the sale of any unlicensed merchandise/souvenir Items within the Area of
Influence.
(5) Project Manager - The City Manager shall appoint a City
Project Manager who will be available to usher the project through the
construction process.
(6) Term of Agreement - City shall grant Developer an
exclusive agreement until November 2. 1994 to develop remaining
elements of Me Project.
(7) Event Parking - City and Agency agree to consider the
creation of a Special Event parking tee of $4.00 per vehicle for all
panting facilities on property owned by the City or the Agency.
Revenues would be shared with the Developer for the repayment of
private investment and ongoing maintenance of the stadium, in the
following manner: the Developer will receive $3.00 and the City $1.00.
This fee structure shall be incorporated within the Disposition and
Development Agreement. This Disposition and Development Agreement
considered by the City shall include the following elements:
(i) The Special Event paddng fee may only be changetl
not more frequently Man once every five (5) years. The parties
shall meet and confer before the Special Event parking fee is
21
changed, and shall consider among other relevant factors,
whether the City's share of parking revenue is sufficient to pay the
City's cost of operating and maintaining the packing facilities on
account of Special Events and whether the Increase of the Special
Event parking fee will have a material adverse affect on the
attendance at Special Events. After the parties have met and
conferred, the City may increase the fee by No amount (if any) to
which the partes have agreed, or if the pates have not agreed,
than by an amount determined by the application of the fallowing
formula:
The Consumer Price Index Urban Wage Earners and
Clerical Workers (base years 19821984 = 100) for San Francisco
- Oakland - San Jose CSMA, published by the United States
Department of labor, Bureau of Labor Statistics (the'Index%
which is published most immediately preceding the date of change
('Recalculation Index') shall be compared with the Index in effect
on the date of Me D&DA or the date on which the Special Event
parking fee was last changed, whichever is later (the Teas
Index'). If the Recalculation Index is higher than the Base Index,
the Special Event parking fee shall be set by multiplying the
Special Event parking fee In effect before the change by a
fraction, the numerator of which is the Recalculation Index and the
22
denominator of which is the Base Index, and rounding Me product
to Me nearest whole quarter.
It the Index is changed so that the base period differs from
1902-1984, the Index shall be converted in accordance with the
conversion factor published by the United States Department of
Labor, Bureau of Labor Statistics. If Me Index is discontinued or
revised during the term, such other government index or
computation with which it is replaced shall be used in order to
obtain substantially Me same result as would be obtained it the
Index had not been discontinued or revised.
The Special Event parking fee shall not be reduced. If Me
Special Event parking tee is increased, Me increased fee shall be
apportioned in the ratio: City -1: Developer --3.
(ii) The Special Event parking fee wilt be applicable for
Me life of the stadium or thirty (30( years, whichever occurs first.
SECTION ]. PUBUC IMPROVEMENTS.
It Is mutually understood by Me parties that Me City may form any necessary
improvement districts to construct required public improvements for the Project under
this Agreement or Me subsequent Disposition and Development Agreement, provided
Me Agency enters into an Agreement with Developer whereby Me Agency shall pay
any assessments related thereto from available funds. Nothing precludes the right of
developer to protest Me assessment through normal protest procedures. Nothing shall
Impar Me ability of the City, or its subsidiary special assessment districts, from
PSI
denying any approval for which a public hearing is required. The payment for the
Infrastructure in question shall be subject to available funds. This Redevelopment
Agency obligation to construct infrastructure shall apply only to facilities in the public
right-of-way such as streets, sidewalks, sewers, water lines, etc. Any connections of
this public infrastructure to the property of Developer shall be paid for by Developer,
except for connection fees, which are provided for in Section 6(g) and Section 12 of
this Agreement.
Nothing herein shall prevent the City or Agency from looming subsequent
Assessment Districts for the purpose of future infrastructure construction or for any
other assessment purpose. Except for Me infrastructure improvements herein
enumerated, Developer shall be required to pay all future assessments as required of
other landowners or persons similarly shunted as required by law. Neither this
Agreement nor any future Disposition and Development Agreement shall restrict the
ability of Me Cly or Agency to assess stadium parcels in Me same or similar manner
as other parcels.
SECTION 8. CONDITIONS.
(a) Environmental Audit. The Agency has obtained a qualified
consultant to conduct a level II environmental audit of all parcels within Me
Project. In Me event such audit discloses Me contamination by hazardous or
toxic substances, Me Developer may elect to proceed with Me Project on such
terms as Me parties may mutually agree prior to Me transfer of such pamel to
Me Developer. Agency shall not be required to spend any more Man the
amount of $750,000 on environmental assessments and/or clean-up casts. Any
*I
agreement between me parties shall give Developer the rights to elect either to
pay all clean-up costs over and above the $750,000 Purchase Price or to
withdraw from the Agreement. Said decision to terminate shall be based upon
an estimate received from the qualified environmental consultant. Clean-up
costs shall Include all remediation costs both on-site and off-site necessary to
remedy the contamination under applicable standards.
(b) Failure to Approve Site Plan. In the event the Agency or Ciry falls
to approve Developer's site plan consistent with the Project Description or a
modification acceptable to the Developer, the Developer may terminate this
Agreement or any Phase of the Project negatively impacted by such failure.
(c) Failure to Modify Plans and Adopt Ordinances. In the event the
Agency or the City fail to modify or amend the applicable Urban Renewal Plans
or general plan within a reasonable time to permit the development of the
Project, the Developer may notify the Agency and Cdy, In writing of its Intent to
terminate this Agreement. The obligation of Developer to purchase the property
is subject to the Ciryry's adoption of ordinances and measures with respect to
ticket scalping, unlicensed merchandise and parking revenues that are, in the
judgment of Developer and Developers financiers, sufficient to protect and
generate revenues consistent with Developer's financial projections.
(d) Termination of Agreement for Failing to Grant a Discretionary
Approval Neither the Agency or the City shall be liable for any monetary
damages to Developer, Its successors or assigns for any termination or
25
modification of this Agreement due to the failure of me City or Agency to grant
a necessary approval on a matter subject to a discretionary approval.
SECTION 9. PERIOD OF DURATION OF COVENANT ON USE.
The covenant pertaining to the uses of the Property located within the Central
Business District Urban Renewal Plan, set torah in Section Q1 (a) of Part II (Form
HUD -6209B, 9-69) recorded in the office of the County Recorder in book , page _
of Official Records shall remain In effect from the date of the Deed or Deeds unfit the
period specified or referred to In the Central Business District Urban Renewal Pian, on
which date such covenant shall terminate.
SECTION 10. NOTICES AND DEMANDS.
A notice, demand, or abler communication under the Agreement by either party
to the other shall be sufficiently given or delivered if it is dispatched by registered or
certified mail, postage prepaid, return receipt requested, or delivered personalty; and
(a) In the case of the Developer, if addressed or delivered personally
to the Developer at 1231 'N' Street, Fresno, California 93721; and
(b) In the case of the City or Agency, If addressed to or delivered
personally to the City or Agency at 2600 Fresno Street. Fresno, California
93721 or at such other address with respect to either such party as the party
may, from time to time, designate In writing and forward to the other as
provided in this Section. Personal delivery to the offices of the City Manager,
City Attorney and City Clerk shall be effective delivery.
SECTION 11. SPECIAL PROVISIONS.
(a) Anti -Discrimination Covenants. The Developer herein covenants
by and for itself. Its successors and assigns, and all persons claiming under or
through them, that there shall be no discrimination against or segregation of
any person or group of persons on account of race, color, and, religion, sex,
marital status, national origin, or ancestry, in the sale, lease, sublease, transfer,
use, occupancy, tenure, or enjoyment of the premises herein conveyed, nor
shall fire Developer itself or any person claiming under or through it, establish
or permit any such practice or practices of discrimination or segregation with
reference to the selection, location, number, use or occupancy of tenants,
lessees, subtenants, sublessees, or vendees in the premises herein conveyed.
The foregoing covenants shall run with the land. The foregoing provisions shall
be binding upon and shall obligate the contracting party or partes and any
subcontracting party or parties, or other transferees under the Instrument.
(b) Deeds. The Deeds) conveying the Property, or any portion
thereof, shell contain the covenants in subsection (a) of this Section.
(c) Losses. My lease of Ne Property, or any portion thereof, shall
contain the covenants in subsection (a) of this Section.
SECTION 12. UTILITY RELOCATION COSTS.
This Agreement contemplates recognition by affected utility companies
that this Project is considered he be a'Franchise Project' under applicable utility
relocation agreements. As a'Franchise Project; the affected utility companies will be
required to pay for relocation of utility lines within time constraints herein referenced.
Pxf
SECTION 13. PARTIES NOT PARTNERS.
Nothing in this Agreement is intended to create a partnership or joint venture
between or among any of the parties hereto.
SECTION 14. GOVERNING LAW.
This Agreement shall be interpreted, and the rights and duties of the parties
hereto (both procedural and substantive) shall he determined according to California
law, except where applicable federal law or regulations apply. In the event that
legislation is adopted which substantially impairs the ability of the paNes to meet their
obligations under this Agreement, the paNes shall undertake goad faith efforts to
renegotiate this Agreement. If, after such renegotiation efforts are not successful. any
parry may terminate this Agreement.
SECTION 15. COUNTERPARTS.
This Agreement may be executed In counterparts, each of which when
executed and delivered shall be deemed an original and together shall constitute one
and the same instrument.
11/
///
ED
IN WITNESS WHEREOF, the Agency and the City have caused this
Agreement to be duly executed in their name and behalf by the Ex -Officio Director and
City Manager, respectively, and the City seal to be hereunto duly affixed and attested
by the City Clerk, and the Developer has caused this Agreement to be duly executed
in its name and behalf, on or as of the day first above written.
ATTEST:
JACQUELINE L. KYLE
ExAdficio Clerk for the Redevelopment
Age �ey of the City of Fresno
( )
Byt6�«.(. .e(esy4.
Oequty
APPROVED AS TO FORM:
JAMES P. LOUGH,
Ex -Officio Attorney for the
Redevelopment Agency of Me
TYesno; and then D} Fresn<
FRESNO DIAMOND GROUP,
a California corporation
By
REDEVELOPMENT AGENCY OF THE
CITY OF FRESNO
Michael A. Bierman
Ex -Officio Executive Director of
the Redevelopment Agency of
Me City of Fresno
CITY OF FRESNO
By
Michael A. Bierman
EXHIBITS
A Project Descripbon
B Project Area and Property Description
C1-C3 Option Agreements
D Grant Deed Form
E Project Process Schedule and Milestones
RD]
EXHIBIT "A"
PROJECT DESCRIPTION
The sports/entertainment stadium project is to be developed on the approximately I l -acre
area depicted by Exhibit "B" and generally bound by Tulare. Broadwayf'H", and Inyo
Soviets and the Fulton/Broadway alley. The project site's size and configuration may be
greater or lesser than the site provided by the Fresno Redevelopment Agency, subject to
the incorporation of additional parcels through separately negotiated acquisitions, lease
agreements or owner participation agreements.
The sports/entertainment stadium facility is to be designed and constructed sufficient to
host baseball, football and other outdoor athletic, concert and entertainment events
conducted both during daytime and nighttime hours; contain a spectator seating capacity
of 15.000 for baseball events and 10.000 to 20,000 for concerts and other entertainment
events, and may include skyboxes or other special viewing or seating accommodations;
and, include related stadium and operational facilities consisting of stadium club
restaurant, retail spaces (i.e. souvenir gift shops). concessions, stadium and team
administrative offices, warehouse and maintenance buildings, home and visitor locker
rooms, football locker room. weight training room, concert stage and dressing room,
loading and staging area, event lent area with adjoining commissary and player/employee
puking lot.
All buildings, structures and improvements constructed on the stadium project site shall
be consistent with the site plans and architectural elevations approved in accordance with
applicable standards, policies and procedures of the City of Fresno and the Fresno
Redevelopment Agency.
onuoau.ms
MARE STREET FRONTAGE PPOPERTES MAY BE ACOUREO BY OEVEOPER
OR MAY BE COTVEYEO TO OEVROPER R ACOURED BY AGENCY
THROUGH NEGOTIATED ACOUSITION
Ti It nnC
INYO
EXHIBIT °B"
AGREEMENT FOR
PURCHASE OPTION AND RIGHT OF ACCESS
This agreement made this 1ZAday of -ywysr 1993. by and between
Thanh Day Vo. hereafter referred to as "Owner"(s) and the Redevelopment Agency of the
City of Fresno, hereafter referred to as "Agency", pertains to real property located at
844 Broadway in the City and County of Fresno, also known as Assessor's Parcel Number
468-284-23. as Shown on the attached Exhibit "A".
RECITALS
WHEREAS. Ownens) hold fee tide to real property located at 844 Broadway,
Fresno. California (hereafter. the subject Property"); and
WHEREAS. Agency is interested in the development of a baseball stadium to the
test of the intersection of Tulare and Broadway Streers; and
WHEREAS. Agency desires to acquire an exclusive option to purchase Subject
Property for fair market value at such time as it may exercise its option during the term
hereof; and
WHEREAS, Owner(s) desire(s) to give Agency such a purchase option. for valuable
consideration as hereafter set forth; and
WHEREAS. Owner and Agency believe that it is in their common interest to enter
into this Agreement concerning the Subject Property.
NOW, THEREFORE. the parties agree as follows:
Section 1: Aereement For Purchase OoCon. Owner hereby grants to Agency the
EXHIBIT C"I
exclusive right to purchase the Subject Property at its fair market value to be determined
by an independent appraiser as of the dale of exercise of this option. or as otherwise
determined by an agreed arbitrator
Section 2: Omion Period. The option period created by this Agreement shall remain
in effect for twelve (12) months from the dam of execution.
Section 3: Consideration For Option and Right of Access. The Owner shall receive
payment in the amount of FIVE HUNDRED DOLLARS (5500.00) within 30 calendar days
following the date this Agreement is formally approved by the Agency. If, for any reason.
this Agreement is not approved by Agency's Hoard of Directors, no payment shall be nude
to the Owner and this Agreement shall be of no force or effect.
Section <: Assignment. The parties agree that their respective interests in this
Agreement shall be assignable to a thud parry, provided reasonable prior notice of
assignment is given and the Assignee expressly agrees to comply with all comms of this
Agreement.
Section 5: Right of Access Aoonisal. Owner hereby grants the Agency, its agents
or assigns, access to the Subject Property on 34 hours' prior notice and further agrees to
allow access to enclosed or lacked areas. Any damage to the property caused by Agency.
its agents or assigns. will be repaired by Agency. Site visits will be done in a manner
which will not interfere whh Owner's (or Owner's tenants') use of the Subject Property.
During the period of this option. Agency shall have the right to, at its sole expense.
conunission an appraisal of Subject Property by a professional real estate appraiser to
determine its then fair market value.
Section 6: Warranties. Owner warmmies he/theyfit own the Subject Property and
has/have marketable and insurable fee simple title to the Subject Property.
Section 7: Completion of Purchase: Purchase Price. In the event Agency elects to
exercise its purchase option. Agency shall:
(a) Notify Owner in writing of its decision to exercise the option.
(b) Within 10 days thereafter, submit a written offer to purchase the Subject
Property for the price established by the appraiser commissioned by Agency.
(c) Notify all nonresidential occupants of the Subject Property of eligibility for
relocation assistance benefits and payments, as of the purchase offer date. as provided
pursuant to Section 7260 of the California Government Code. No housing is being acquired
and no payments to parties claiming residential tenancy will be trade.
(d) Utilize the standard 'Offer of Sale of Land", a copy of which is attached as
Exhibit 'B'. Upon opening of an escrow. Agency shall also pay all escrow and tide
insurance fees but shall not be responsible for payment of recorded liens, encumbrances.
or delinquent taxes, if any.
Section S: Owner Option To Contem Appraisal Arbitration If the Owner(¢)
disagree(s) with the offered purchase price of the Subject Property as established by the real
estate appraiser commissioned by Agency pursuant to this Agreement. Owner(s) may
commission his/their/na own appraisal of Subject Property and thereafter negotiate with
Agency for a different sale price. Owner(s) and Agency agree. however, that if no
F
agreement is reached on a sale price. Owner(s) will sell and Agency will purchase Subject
Property at a price to be determined through binding arbitration before an arbitrator who
shall be certifsed by the designation of "Member of the American Institute of Real Estate
Appraisers of the National Association of Real Estate Boards." Said arbitrator shall be
selected by the parties. from among those MAI's who have offices in the City of Fresno.
Section 9: Time of the Essence. It is expressly agreed by the parties hereto that time
is of the essence to. this Agreement.
Section 10: Entire Agreement. This Agreement, with attachments, consulates the
entire agreement between the parties, and this Agreement supersedes any oral statements
by either party unless amended. modified. supplemented or terminated except as set forth
herein unless each of the parties hereto consents in writing.
Section I1: Attomev's Fees If any legal action or proceeding, other than the
valuation of the property, arising out of or relating to this Agreement is brought by either
party, the prevailing party shall be enuded to recover from the other parry in addition to
any other relief that may be granted, reasonable attorneys' fees. costs and expenses.
Section 12: Binding Effect The provisions of this Agreement shall bind the
respective, heirs, executors, personal representatives, administrators. successors and assigns
of the parties hereto.
Section 13: Further Assurance. The parties hereto agree m execum any additional
documents that may be necessary to effectuate the intent and purpose of this Agreement
PROPERTY OWNER REDEVELOPMENT AGENCY OF
THE CRY OF FRESNO
By --
i
By
Thanh My Vo.
caner
MARLING ADDRESS:
1235 East Barstow Avenue
Fresno. CA 93710
ATTEST:
Jacqueline L. Ryle
City Clerk
By
VVnAACS
APPROVED AS TO FORM:
James P. Lough
City Attorney
By
ae 2W.
LL�
City at DRAWN BY a< DATE `LAA
F=:MCCP=.��� CHK'D 6Y: —DATE_
"
Department Of Economic Resources Pnce No.!
EXHIBIT A
PARCEL 1411.
NIA. o
PI1011'A:1'H0,
MIIIIW NII,
OFFER OF SALE OF LAND
1 11
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Ulbook FLOP PUP,
UP wilign 1101 4OLok PUP. S. POP, UP Or 1. 1 = OF PUFF popPOPUP11 P PUPOOPUP Ilor POP OPK 14 , UP
OF PUM "OUP Fo Fitar, list A"" ::.T"�n..r.I" r.�.:+ UUU UUU:iv. ��u�U.. m.. 11. litto too 1. n..r.n.I
AGREEMENT FOR PURCHASE
OPTION AND RIGHT OF ACCESS
Tbis agreemen4 made this 15 -N., day of 0 ctv> Ln .1993. by and between
PATCO. Inc., a California Corporation. H.M. Paml, VmjW Chardava, and Rhovanbh d Bavariya, hereafter
referred to as'OWNER'(S) and the Redevelopment Agency of the City of Fresno, hereafter referred m
as "AGENCY", pertains to real property, a motel building and arbor improvements, located at
866 to 888 Broadway, in the City and County of Fresno, also known as Assessor's Parcel Number
468-286-24, as shown on the attached Exhibit 'A'.
RECITALS
WHEREAS, OWNER(S) hold title to real property improvements on leased land located at
866 to 888 Broadway. Fresno, Califomia (hereafter, "the subject property"); and
WHEREAS. AGENCY is interested in the development of a baseball stadium to the east of the
intersection of Tulare and Broadway Streets: and
WHEREAS. AGENCY desires to acquire an exclusive option an purchase Subject Property for fair
market value at such time as it may exercise its option doting the term hereof: and
WHEREAS. OWN'ER(S) desires) to give AGENCY such a purchase option, for valuable
consideration as hereafter set foNu and
WHEREAS, OWNER and AGENCY believe that it is in their common interest to enter into this
Agreement concerning the Subject Property.
NOW, THEREFORE, the parties agree as follows:
Section l: Armament for Purchase Option. OWNER hereby grooms to AGENCY the exclusive
right at purchase the Subject Property at the price of ONE MILLION TWO HUNDRED THIRTY
THOUSAND SEVEN HUNDRED DOLLARS (81230,700).
Section 2: Onion Peria4 The option period created by this Agreement shall remain in effect for
twelve (12) months from the dam of execution.
Section 3: Consideration for Option and Rieht of Access. The OWNER shall receive payment
in the amount of FIVE H MRED DOLLARS ($500.00) within 30 calendar days following the dam this
Agreement is formally approved by the AGENCY. If, for any reason, Nis Agreement is not approved by
AGENCY'S Board of Directors, no payment shall be made to the OWNER and this Agreement shell be
of no force or effect
law
Do a m
— roc
1
EXHIBIT C-2
Section 4: Assignment. The parties agree that asw respective interests N this Agreement shall
be assignable an a third party, provided reasonable prior notice of assignment is given and the Assignee
expressly agrees to comply with all terns of this Agreement
Section 5: Right of Access: Appraisal. OWNER hereby gmnts the AGENCY. its agents or
assigns, access to the Subject Property on 24 hours prior notice and further agrees to allow access to
enclosed or locked areas. Any damage to the property caused by Agency, its agents or maigm, will be
repaired by AGENCY. Sim visits will be done in a mower which Will not interfere with OWNER'S (or
OWNER'S mnans) use of the Subject Property.
Section 6: Warranties. OWNER wartimes herthey/it own the Subject Property and hasthave
markemble and insurable fee simple title m the Subject Property.
Section 7: Completion of Purchase: Purchase Price. In the event AGENCY elects to exercise its
purchase option. AGENCY shag
(a) Notify OWNER in writing of in decision to exercise the option.
(b) Within 10 days thereafter, submit a written offer to purchase the Subject Property for the
price established by the appraiser commissioned by AGENCY.
(c) Notify all nonresidential occupants of the Subject Property of eligibility for relocation
assistance benefits and payments, as of Ne purchase offer date, as provided in Section 7260 of the
California Government Code. No housing is being acquired and no payments an parties claming
residential m uncy will be made.
(d) Utilize the standard 'Offer of Sale of Land", a copy of which is attached as Exhibit "B".
Upon opening of an escrow, AGENCY shall also pay all escrow and dile insurance fees but shall not be
responsible for payment of recorded Gem, encumbrances, or delinquent taxes, if any.
Section 8. Owner Codon to Contest Appraisal Arbitration. OWNER has concluded that the
current value of the improvements at 866 and 888 Broadway is $1,230,700 and will accept this amount
less any mortgages, Bens, encumbrances and previous years' taxes and assessments as the full purchase
price. No arbitration will be necessary uNeas there is a significant diminution of value caused by fire,
earthquake, want or other physical fomes.
Section 9: Time of the Essence. It is expressly agreed by the parties human that time is of the
essence to this Agreement -
Section 10: Entire Agreement. ]Tis Agreement, with attachments, comtimns the entire agreement
between the parties, and this Agreement supersedes any orad statements by either parry unless amended
modified, supplied, supplemented or terminated except as set forth herein unless each of the parties hereto
convents is writing.
Section I l: Anomevls Fees. B' any legal action or proceeding, other Nan the valnulon of the
property, arising out of or relating to Nix Agreement is brought by either parry, the prevailing parry shag
be entided to recover from the aNer party in addition to any other relief Nat may he g=md, mmonable
attorney's tees, costs and expenses.
Section 12: Binding Effect The provisions of this Agreement shall bind the respective, heirs,
executors, personal npresenmdves, admirdsuamn, successors and assigns of Ne parties herem.
Section 13: Further Assurance. The ponies hereto agree to execute any additional documents that
may be necessary to effectuate the intent and purpose of Nis Agreement.
PROPERTY OWNER
PATCO, Inc. p{ppp{
By: � 4—
WBaam Parol, President
By:
Bhovant arlya
By:
njla1 Mud=
By:
M. P
MAILING ADDRESS:
1400 Fssbdon island Boulevard, Soue 306
San Mateo, CA 94406
ATTEST:
J a" L. Ryle
try
ma wuxctoIm
neme,.lm
REDEVELOPMENT AGENCY OF TF♦E
CITY OF FRESNO
By: I
APPROVED AS TO FORM:
James P. Lough
City Attorney
J�
J
F
C ty o!
�»ecer�,�,E
Department Of Economic Resources
F3iIBIT 4.
L
DRAWN BY:
DATE
L/�-6
CHKD BY:
DATE._
California ASSESSOR'S PARCEL NO.
19� PROIEC OESCRI ON
(Hemin referred to at Grantor)
OFFER OF SALE OF LAND
This Ag cmemr evidencing
I. hat
refereed n, as'Cce4')_ dn"sibivg Va foLLowiMg rta Pmprny. Vmcimte
bar been signal by Ne uvdesigned Grantor. jogen,cr ,iM ,mw insvuNons rtladng Menem. and baaMd m
rt(crzedmu'Ua Agev Agent for Ne Redevelapmcm Agency ofVm City ofFnent,01misu0>
cy), fw zee<puaes nomaan by die Agency.
2 haz Ne puties have set foM h=lft Ne whole of Neu Mccemens.
3, hat Ne pmetOoc Pelee of aid rta pmp y shall be rhe sum of S� See ma wear of>U Lem.
encumbrancer, a"u"ctions, easemeo¢, a teems. delinquml uses, dgbas o[poue5400, Uaime N nd clear
a of 4 Hfam
and rtcmded zoNor Mnaeoded I¢setald "meas and easements ezrex
ris
Uvpad tmvEeLvquent pmrerW az of doe of esmow.
urbm Remwai nm
<. hat all expcosn" of cee ow, eamad
ivov of doe sod of momding Ne Dc4 shalt be pad by the Agency,
except Me cons of any requited documentary srmm
5. hat in mnsdoadoo of Ne ezcc cot of this apcemem by the Grantor, the Agency vat maniocs On
vitlw azof Ne Mt enrmPw m dhow o csc macmcva gen¢a11y amLLar in rbaxt¢, tom owner of rtw pmpeny in Ne
tY p perty above dn" ve no
6. TDaz Ne Grantor shall pave no clam or mss of xdov again¢ Ne Ageocy ezept mob
x may vise by
assoa of Us agmemeve
t. Tpat the tights given by Ne Grmrm On Ne Agency hOno, m nclecdve and umv,no Cle. and u my Mme
]mwmiant m fd Deed ccb Ne air Mlder a Nee is and h uared
miethe Ageacy may IDs max d eseow
PmPm 9 Vp Tl Ne remdazlon of said Lied mown" One Ne Gran ce aba�L becomimmhaw Me Omw 111C bstensold
e Mi Idy due Mgtinf
8. Tlu["Mand the Agency not deport aid esww imnMcdOw win, Ne neeow hnidc w Min a Pmol a 120
days tam Ne daze h¢eo[ Vas ago®ent stall amen in inti force NveaRc Moot Ne Granmr 4uV t®none W
agmemevt by giving 30 days pdm wdcen nmia to Ne Agency of such t®Imtio4 wbmup the Agency spall Ne
Me on 0w insman0m and Deed meiUmi moa 30 days or muco all docomeots ddivard no it by the Grantor. and Nis
agreement shall be Of vo lumber cel= Noeafta except as haeiaarter provided
liability9. Grmmr the Agent b� u my time pdar m Va mco,n oo a On deed t ..... Ne agreemem and 4
y rttmyng Ne to Gmror all dmumms MCnVCCd tom said Granmr.
or said prtmisa Nmugh allow, Ne Agency may u my dme pow m Rmmalov Or mm Ds6
penises by emiamt domaia pmmedivgs, and dx GsaOt nma, m m mml ui �ho m xquhe Lou
ezpi Ivo m I=Laoon or Nis ore, Nm Um m mm 1�� P'dmloo audOmuich oval wMve Ne
dbmiv mmisshall be Ne 1 pmh PdOmtCMshe embyd ChanuarNilbe Mthe bmweminmt
ofsaid pRmisa, ivcialve o(me�e zmabovestared,LL Pdm Ne GamarcxccP dcdmsmap 3. bismakw vum
ery inimat Nert10. aNw dm Nose inimesm ezmpm W Paragraph ],
Ll. Thi Ions a dmage m Ne
pdba u pvpmy, any Impmvemevss Nemov, by GR a ost msviry. amusdvg
a b Ne mmNmlav or Ne IkN zhall pe the risk of Granm.
li That velum mdm, as mmdoml moi, Agmen w, may be dmvemd pem mUly, m by depaidvg mm
LOdm PmPmY addarned N Nc mommy Guvl soma mil in my Pmt Oram or mail box In tow: Cq or Fsemn.
Caliromla mwaed ba an eovwope addma Lo Ne PmOv m whom Nc LOdm 4 YJvm and a the tdms spe w below.
13. Gress shat rtmin pm ea{ov or Ne poppy and hula up b m Inclutling Ne due arrtmdadan o[dr
Umd All Common.
delved Lemm�mbarapied mOPmY upbandimludlvg Ne due Or MOXImOo or Deet spall be and
pod t the Gu Alt Rvm ULvM aOm mam -Lmmi l W poppy subsequent m Ne dare Or mcatmon or Dmd shat be
paid m Vm GnvRe, Ne Redevclopmca Agency or Ne Ciry or firma. Nemati v be IMMul iv allow by dm dde
mmPams Involved in xmmmm MU, supplemcmai arrow Inmamlene xmmPanyiag Nis pansxdon.
14. 1Lis AgR®en[ shall tr biONng upov and ivO+e m Ne bemat or Ne brim, mrt sap. and amgv or Ne
pmpvria emero, and am Agmry Y ezpmsslY glum Ne lgk sa mvgv dill agmemcm and im dglus bmm,v
IN F1ilYFSS R'fIE]yFOF. Ne pales have aemRe Ws agrtemew Ne dry and Y� am above wdaev.
APPROVED FOR FORM AND LEGALITY
RECONUE MFOR APPROVAL.
NO OPLIGATION OTHER THAN THOSE SET FORTH HEREIN WILL BE RECOGNRED
AGREEMENT FOR
PURCHASE OPTION AND RIGHT OF ACCESS
This agreement made this Mf—day of Gi� 1993, by and between
WELLS FARGO BANK, N.A.. fcnoerly known as BANK OF AMERICA NT&SA AS TRUSTEE
UNDER THE WILL OF TRENE H. DODD. DECEASED, hereafter referred to as'Ownar"(s) and
be Redevelopment Agency of the City of Fresno, hereafter referred to as "Agency". penaim m
real property subject to an exerting land lease, located at 866 to 888 Broadway in the City and
County of Fresno, also known as Assessor's Parcel Number 468-284-24, as shown an be attached
Exhibit 'A'.
RECITALS;
WHEREAS, Owner(s) hold fee title to land, exclusive of all improvements„ located at
866 to 888 Broadway, Fresno, California (hereeften'ale subject Property'); and
WHEREAS, Agency u interested in the development of a baseball stadium to the east of
the intersection of Tulare and Broadway Simeon; and
WHEREAS. Agency desires to acquire an exclusive option to purchase Subject Property
for fair market value at such time as it may exemiae its option during be term hereof; and
WHEREAS, Owner(s) desire(s) m give Agency such a purchase option, for valuable
consideration be hereafter set forth; and
WHEREAS, Owner and Agency believe that it u in their common interest ro enter into this
Agmemeot concerning be Subject Property.
NOW. THEREFORE, the parties agree as follows:
716//cmGaa.w 9� _
E; Igzr�Q- 's._ 1K42 -
.:run I
EXHIBIT C-3
Section 1: Agreement For Purchase Option. Owner hereby grams to Agency the exclusive
right to purchase the Subject Property at its fav mxlxet value w be determined by an independent
appraiser U of the dam of exercise of this Option, or as otherwise determined by an agreed
arbitrator.
Section 2: Option Period. The option period created by this Agreement shall remain in
effect for twelve (12) months from the dao; of execution.
Section 3: Consideration For Option d Ri2hi of Access. Ibe Owner shall receive
Payment in Ne amount of FIVE HUNDRED DOLLARS ($500.00) wild, 30 calendar days
following the date this Agreement is formally approved by the Agency. If, for any reason, this
Agreement is not approved by Agency's Board of Directors, no payment shall be made to the
Owner and this Agreement shall be of no force Or effect.
Section 4: Asaimmacmc The parties game that their respective interests in this Agreement
shall be assignable to a third party, provided reasonable prior notice of assignment is given and
the Assignee expressly agrees to comply with all terms of this Agreement.
Section 5: Right of Access;Appraisal, Owner hereby grans the Agency, its seems or
assigns, access to the Subject Property on 24 hours prior notice and further agrees to allow access
M enclosed or locked areas. Any damage m the property caused by Agency, its agents or margns,
Will be repaired by Agency. Site visits will be done in a matter which will not intaGere wiW
Owners (or Ownei s tenants) use of the Subject Property. During the period of this option.
Agency shall have the right m, at its sole expense, commission m appraisal of Subject Property
by a professional real estate appraiser of desrmine its Nen fav market value.
Section & Waarnmfies. Owner warranties hdNeyrit own the Subject Property and has/bave
marketable and insurable fee simple title to the Subject Property.
7
Section y: Completion of Pu h : purthase price, In the event Agency elects to exercise
its Purchase option, Agency shall:
(a) Notify Owner in writing of in decision to exercise be option.
(b) Within 10 days thereafter. submit a writ¢, Offer to purchase the Subject Property
for the price established by be appru'ser commissioned by Agency.
(c) Notify all nonresidential occupants of the Subject Property of eligibility for
relocation assistance benefits and payments, as of the purchase offer date. as provided pursuant an
Section 7260 Of the California Government Code. No housing is being acquired and no payments
W parties claiming residential tenancy will be made.
(d) Utilize the standard •Offer of Sale of Land", a copy Of which is attached as
Exhibit "B". Upon opening of an escrow, Agency shall also pay all escrow and title insurance fees
but shall not be responsible for payment of recorded liens, encumbrances, or delinquent Was, if
any.
Section g: Owner Option To C 1 Arbiamfioft, If be Owner(s) d'¢agree(s)
With the offered pmbase price of be Subject Pmperry as established by the real estate appraiser
commissioned by Agency pursuant to bis Agmemen4 Owner(s) may commission hNbehPos a"
appraisal of Subject property and bereaf er negotiate with Agency for a different sale price.
Owoer(s) and Agency agree, however, bar if no agreement is reached on a sale price, Owner(s)
will sell and Agency will purchase Subject property at a price to be determined through binding
arbitration before an arbitrator who shall be certified by the designation of "Member of be
American Intima of Real Fatale Appraisers of be National Association Of Real aurae Boards."
Said arbitrator shall be selected by be parties from among base MAI's who have offices in be
City of Fresno.
3
Section 9: Time is of the Essence. it is expressly agreed by the parties hereto that time la
of the essence to this Agreement
Section 10: Entire Agmenum, Thu Agreement, with attumments, consdu tes the entire
agreement between the parties, and rids Agreement supersedes any oral statements by either parry
unless amended. modified, supplemented or terminated except as set forth herein unless each of
the parries hereto comcnta in writing.
Section 11: Attorney's Feu. If any legal action or proceeding, other than the valuation of
the property, arising out of or relating to this Agreement is brought by either parry, the prevailing
parry shall be entitled to recover from the other parry in addition to any other relief that may be
granted, reasonable amorneyi fees, casts and expenses.
Section 12: Binding Effect The provisions of Nis Agreement shop bind the respective,
hens, executors, persoval representatives, administrators. successors and assigns of the ponies
hereto.
Section 13: Court Approval. Should Agency elect to acquire the subject property, said
acquisition is subject to Superior Court appmwal.
Section 14: Existine Lease. Should Agency elect to acquire the subject property, said
acquisition 6 subject to the existing lease currently in effect on the property or subject to the
Agency's acquisition of the leasehold interest in the subject property
Section 15: Further Assurance. The paries hereto agree to execute any additional
documents that may be necessary to effectuate the intent and purpose of this Agreement
PROPERTY OWNER
By I A. lent.
jes�dem
y
oa�,r tit �msasm
vlum[simrt
MAILING ADDRESS:
Wells Fargo Hank, N.A.
Cenual Valley Real Estate
An: Dardel A kith
5262 North Blackstone Avenue
Fresno, CA 93710
ATTEST:
Jacqueline L. Ryle
City Clerk
1
UL&wl 1993 DlH
Wuav IIH]
REDEVELOPMENT AGENCY OF
= CITY OF FRESNO
APPROVED AS TO FORM:
James P. Lough
City Attorney
ey -
1
L
Gry of DRAWN BY: Dv. DATE. I/f/:►NCHIM BY.
Department Of Economic Resources PAGE NC
FX MIT A
Califomia ASSESSOR'S PARCEL NO.
i9-� PROTECT DESCRIPTION
(Herein referred to az
OFFER OF SALE OF LAND
ME Agreement evidences:
1. [Ned
referred to u •Deed•), tlesaibin8 Ute tOVOwivg soy yopvny; UmeiMyar
ho been signed by Ute undersigned Gnmon. togeVee wiTh esmw imtn noon clang mesoto, and bmtM To
referred m a•meAe Agent fon The Redevelopment Agency of me Cley afFrtmo, 0taeimfw
8 aoY•). fe z¢pam¢ a rtddn by the Agency.
2 '[het me putics have ¢t foe0 herein too whole oftbeir agreements.
3. the me pumhac Pde of said soul PmpenY dull be me sum Of sfine ad clew of a111iem,
adrModed rtaMlNom, easements, anleamold fiat a; Drd emmt taxa. eghm Olppste-ssioo, ❑wins m tl8ha o(posseuiv=
m6rteNWmd/m uvrtcetletl nOomdld ofdors and caw. except
Ument vvodelinqucm pmraed u of Wos ofaaow.
Umm Reoewy Pim
a. lbe aU cxpcvs= of awow, mai"Mod of title and of rtroNiOR me p¢D shall to ped by the ABeecy.
emelt me coma of any requited dcamevlay amp&
5. lbat To m
oo=td0oo of Ute exe[ndm Of This agreement by The Gnotoe. me Agency wilt ¢venue in
e8artve and ofillmm to obtain tt oTha8emms
teeger dsimiles miles in chamw. Nom name of sal pmpertY In Ue
vitlNry of de real Property ebove davlheq
6. ' me Grantor and love en ywm m mm of MUM again[ the Agency except such a may afse by
Inion Of TIME agreement
7. 'Edd me rights given by the Gavin TO the Agency haeuvdee ae Codusin and mronmeWn and a my men
within I]0 drys fiom me Tae hmof. or maeafee uwR this nemecnt m dalosteq me Agemt may file aid amew
imvomlom and said Deed min de avow Nyder amen mom, and Ivy into The esanw The Pmhae Tors of Tedd
MPedy. Upon The recardaTiOM of said Req mow= due me Grmmr shed become coe imenedieelY due and ale. .
g. 111x( shad Ver Agcvry not depaid aid avow in booioa wiTh The =Maw holder amount a pemod oI I3)
daYs fiom the dee helcot this agreement .map remwn in full force maenlrc untu the Gavmr shall damneder mis
agreement by giving 30 days peon wuMeT Mode TO the Agency of men d®loediM Winne oo, the Ageo, shall file
Ute mMw lam = and Red wimin said 30 days a soma 91 docnmem ddivaed TO it by me Grmt¢. and this
agreement mall be Of no Immo elft The except a haeimR= pmvia4
S. The me Agency mry a my Time pee in Ile te¢Wmon of Ve deed, aminme me agn mem and 0
llffipity TO Grmmr haemda, by returning Ute in ame, dl documents mowed bom aid Gooden
la 'Otis even Houghan Agevry my naveaOmpmd dds offer. oevenbelev.ly Em armmplNvg Ne pvcbanO
of old pmamm NmmN
ugh mow, The Agency may Y any dine p1m m soman m, of mrn D od,
PRmlu by emiuevt domain poeeediugs, and Ne firamor agaa, a ant room, ao am,iw tamama Ne
exp ndloo a [®imaav of this affm, Naz Inc int mm n the Cont r smu be rude alms survive Ne
damav:dai shall b[ am PfOote PtICh Pd to Gmn the Connor snailbe k ft lam aemlveo[
pdm abovesteed. ono aNe Gramm nvebY derJarts to be Ne farmaket noise
of aid prtmise, Ial= m a( every Imuea Nisei¢ oNu t y i Nme emcnv enmyted in Pwagrapb 3.
l i. mul toss of dmagc m Ne Rel popmy. or Gr lmpov<mcnn Nu[oq by GR m athu casualty, amman
pda m Ne rtmmatloa of [IR Iked shall to az Ne tisk of Gaanmr.
12 Thy wOaea and=, as mevdoo a in Nu Agmemm, may he delivcrtd prnomlly, m by dcpaidv6 namDada polawy az 1=wd in the pEiamy uGRd Slates mail In any Pins Omm Or mal box in Ne Gly of Finan.
rat 1f®i a Cadm;ed in an envelope Yldsess In me( Otl to whom be intim Is given and m an aaa a;pOOjB{btiaw.
13. Gtm[m snag remiv pmseayov o(Ns papery avvcyrd up [v m iacluGvg Nr. dine of RmNazioa of Ne
Dai All Rats derived foal [em t[ Pial ]VOputY up m and aincl
Ne udivy Nr. daze of rtammm mi Of shLl h paid
pa m traoae¢ NVac ac Go AR m deAveG Rom femawmupiM pmpeRy mbs umu m ftdine of mon,imiov of LW anal be
win R Redevelapmem Agency Of Nr. 01Y of FR=O. Remmis will be Manna N es,Ow by Ne dde
pante InvOlved is xmmanm wab supplemm n mmow imtmetiom acmmpmylvg this rmsxtlo¢
14. Thie Alpeemcm shay be Gadivg upon and inuR to tk bevefi[ of Nr. 6Gas, maram, and asagm Of Ne
pOPuues hecto, and Ne Agency G ezpmyY &vee tan dgn[ m nationWs agrteman[ and its dghm hemundef.
IN Wff S WHEREOF, the Pm'a" have em a no Nis ag¢emcn[ the any and year lint above wvm¢
APPROVED FOR FORM ANO 1.EGA[J[y
NO OBUGAMON OTHER THAN THOSE SET FORTH HEREIN WILL BE RECOGNDFO
EXHIBIT "E"
PROJECT PROCESS SCHEDULE AND MILESTONES
Page 1
TASK
DATE
I.
City Council/Redevelopment Agency Initiation
11/03/93
of project related plan amendments and authorization
to prepare Level I Hazardous Substances Evaluation.
2.
Receive project description, illustrations
12/03193
and operational statements from stadium
developer.
4.
Complete Level I Hazardous Substances Evaluation.
1206/93
5.
Distribute project entitlements, plan
12/08/93
amendments and environmental assessment
request for comment.
6.
City Council/Redevelopment Agency authorization to
01/18194
prepare Level H Hazardous Substances Evaluation
and stormwater drainage improvement plans.
7.
City Council/Redevelopmem Agency acceptance of
02/08/93
Downtown Baseball Stadium Processing Agreement
for consideration.
S.
Complete Level H Hazurdous Substances Evaluation.
03/10/94
9,
Complete Environmental Assessment Initial Study
0321/94
and staff analysis of plan amendments and project
entitlements.
10.
Conduct Housing and Community Development
03/23/94
Commission hearings.
Page 1
11. Conduct Planning Commission Public Hearing
04/06194
to consider project related plan amendments,
entitlements and environmental findings.
12, Conduct City Council/Redevelopment Agency Public
04/26/94
Hearing to consider project related plan amendments,
entitlements, environmental findings, appropriation
of funds and disposition and development agreement.
13. Pending project approval, City of Fresno/Redevelopment
04129/94
Agency and Stadium Developer execute the "Disposition
and Development Agreement' consistent with "Processing
Agreementand conditions of approval.
14. Establish project site demolition, public improvement
04/26/94
and sodium construction schedules identifying timeline
for processing all necessary engineering and construction
plans and permit applications; the target data for
issuance of a building permits; and, daze of project
completion.
15. Scheduled close of escrow to convey project site parcels 05/31194
to stadium developer.
401zmanurs Page 2
11. Conduct Planning Commission Public Hearing
04/06/94
to consider project related plan amendments,
entitlements and environmental findings.
12. Conduct City Council/Re lcvelopment Agency Public
0426/94
Hearing to consider project related plan amendments,
entitlements, environmental findings, appropriation
of funds and disposition and development agreement -
13. Pending project approval, City of Fresno/Redevelopment
0429/94
Agency and Stadium Developer execute the "Disposition
and Development Agreement' consistent with "Processing
Agreement' and conditions of approval.
14. Establish project site demolition, public improvement
0426/94
and stadium construction schedules identifying timeline.
for processing all necessary engineering and construction
plans and permit applications; the target date for
issuance of a building permute and, date of project
completion.
15. Scheduled close of escrow to convey project site parcels 05/31194
to stadium developer.
40rroxura Page 2