1990 AGN AUG 07 I19 - Laserfiche WebLink

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CITY OF COLTON AGENDA REPORT For Council Meeting of AUGUST 7, 1990 T0: Honorable Mayor and City Council FROM: JENNIFER THORNBERRY, ECONCMIC DEVELOPMENT DIRECTOR � SUBJECT: APPROVAL OF ANIENDID DEVELOPMENT AGREEMENT BY Date:AUGUST l, 1990 AND BE'IWEEN THE CITY OF COLTON AND GATLIN/BERGER DEVELOPMENTS,INC BACKGROUND: You will recall that in connection with your recent approval of a Disposition and Development Agreement between the Redevelopment Agency for the City of Colton and Gatli.n/Berger Developments, Inc. the redeveloper requested that the City of Colton approve a Develognent Agreement so as to fully vest the redeveloper's right to develop its property. STA'I'IIKENT OF THE PROBLEM: A Development Agreement was approved in draft form, but negotiations were still under way as to the final tezms and conditions of the Development Agreement at the time both the Planning Cormiission and the City Council consider�d the discretionaxy land use approvals for this project and the Disposition and Development Agreement for the project. Staff and legal counsel have now canpleted our final negotiations with Gatlin/Berger Developments, Inc. as to the tezms and conditions of the Development Agreement. This amended agreement is now consistent with the previously approved Disposition and Development Agreement. FINANCIAL IMPACT: In connection with approval of a Disposition and Development Agreement between the Redevelopment Agency and Gatlin/Berger Develognents, Inc. the Council and Agency determined that this project would have a positive financial �mpact for the City of Colton. ENVIROI�KENTAL IMPACT: An Environmental assessment for this project has been completed according to the California Environmental Quality Act in accordance with the Program EIR for the Cooley Ranch Redevelopment Project. Attachments: Page t of 2__ Item No._.�