2001 RES R-34-01 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 1 14 15 16 17 18 19 20 21 271 RESOLUTION NO. R-34-01 RESOLUTION OF THE CITY OF COLTON, CALIFORNIA, APPROVING A PARKLAND EXCHANGE AGREEMENT AND JOINT ESCROW INSTRUCTIONS BY AND BETWEEN FHJ GENERAL PARTNERSHIP, CUTTING EDGE SUPPLY, INC. AND THE CITY OF COLTON WHEREAS, the City of Colton, California (the "City") is a municipal corporation duly created and existing pursuant to the Constitution and the laws of the State of California; and WHEREAS, the City wishes to support and encourage economic development and business development in the community, including the creation of new job opportunities; and WHEREAS, the City of Colton desires to enter into that certain Parkland Exchange Agreement dated April 17, 2001 (the "Agreement") with FHJ General Partnership, a California General Partnership ( the "Property Owner"), and Cutting Edge Suppy, Inc., a California corporation, doing business as Black Diamond Blade (the "Business Owner") pursuant to which the City of Colton shall convey that certain portion of Veteran's Park, known as the ball field parking lot, which totals, more or less, 27,000 square feet and is referred to in the Agreement as "Parcel A" and pay or waive certain City application, processing and development fees on behalf of the Property Owner and/or Business Owner in a total aggregate amount not to exceed Twenty -Three Thousand ( $23,000) in exchange for a parcel of private property that is immediately adjacent to Veterans Park and the ball field, which totals some 55,000 square feet more or less and which is referred to in the Agreement as Parcel "E"; and WHEREAS, the Agreement will provide significant public benefits to the City, including, but not limited to, the retention and expansion of a significant business, 281