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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 />RESOLUTION NO. R-97-15 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />TO AMEND THE FISCAL YEAR 2015-2016 BUDGET TO INCREASE <br />REVENUES AND EXPENDITURES REGARDING THE SALE OF CITY <br />PROPERTY PURSUANT TO THAT CERTAIN DISPOSITION AND <br />DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF <br />COLTON AND VALLEY -ORANGE ENTERPRISES, LLC; AND, THAT <br />CERTAIN PURCHASE AND SALE AGREEMENT AND ESCROW <br />INSTRUCTIONS BY AND BETWEEN THE CITY OF COLTON AND THE <br />COUNTY OF SAN BERNARDINO <br />WHEREAS, the City of Colton ("City") currently owns in fee that certain real property <br />generally located at the southwest corner of Valley Boulevard and Pepper Avenue in the City <br />(referred to as, "Old Valley Boulevard") (the "City Parcel"); and <br />WHEREAS, the County of San Bernardino ("County") owns that certain real property <br />generally located at the southwest corner of Valley Boulevard and Pepper Avenue (APN 0254- <br />071-45-0000), (the "County Parcel"); and <br />WHEREAS, on August 4, 2015, the City entered into that certain Purchase and Sale <br />Agreement and Escrow Instructions ("P&SA") with the County of San Bernardino for the purchase <br />of the County Parcel, and <br />WHEREAS, on August 4, 2015, the City entered into that certain Disposition and <br />Development Agreement ("DDA") with Valley -Orange Enterprises, LLC ("Developer") for <br />disposition and development of the City and County Parcels; and <br />WHEREAS, Developer wishes to purchase the City and County Parcels for development <br />of a full service fueling station, convenience store, quick service restaurant or casual dining, car <br />wash facility and approximately 6,600 square feet of additional retail/restaurant space (the <br />"Project"), serving the needs of the regional community and expanding the City's sales tax base, <br />employment and shopping opportunities; and <br />WHEREAS, pursuant to an appraisal of the County Parcel conducted by a licensed <br />23152.06001 \9383102.2 <br />