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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />retention and creation of employment opportunities, property and sales tax revenues, <br />and other ancillary benefits; and <br />WHEREAS, pursuant to the Agreement, the Business Owner shall merge <br />Parcel A with other adjacent properties and construct a new industrial building of <br />approximately 25,500 square feet; and <br />WHEREAS, as a result of the Agreement the Property Owner and <br />Business Owner will expand their business operation and represent that five (5) <br />additional full time jobs will be created as a result of the business expansion; and <br />WHEREAS, the City of Colton will receive a larger parcel of land <br />delivered free and clear of any liens, encumbrances or improvements that is adjacent to <br />Veteran's Park on which the City may develop a larger parking lot to serve Veteran's <br />Park and the residents of Colton. <br />NOW, THEREFORE, THE CITY COUNCIL FOR THE CITY OF COLTON <br />DOES HEREBY RESOLVE AS FOLLOWS: <br />Section 1. The foregoing recitals are true and correct and are incorporated <br />herein by this reference. <br />Section 2. The City hereby finds and determines that the Agreement is <br />authorized by law and that it constitutes a valid and binding agreement between the <br />parties. <br />Section 3. The City hereby approves the Parkland Exchange Agreement by <br />and between the City of Colton, FHJ General Partnership, a California General <br />Partnership and Cutting Edge Suppy, Inc., a California corporation, doing business as <br />Black Diamond Blade. Furthermore, the City Manager is hereby authorized to execute <br />the Agreement and all documents necessary or convenient to administer the Agreement. <br />