HomeMy WebLinkAboutRDA RES 344RESOLUTION NO. 344
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PALM
DESERT REDEVELOPMENT AGENCY APPROVING A FIRST
AMENDMENT TO DISPO5ITION AND DEVELOPMENT
AGREEMENT BETWEEN THE PALM DESERT
REDEVELOPMENT AGENCY AND THE INTRAWEST RESORT
OWNERSHIP CORPORATION AND THE EXECUTI(JN AND
RECORDATION OF A NOTICE TERMINATING AND RELEASING
THE EFFECT OBSOLETE INSTRUMENTS AFFECTING TITLE TO
PROPERTY
WHEREAS, the Palm Desert Redevelopment Agency (the "Agency ") and Intrawest Resort
Ownership Corporation ("IROC ") are parties to a Disposition and Development Agreement dated as of
February 13, 1997 (the "DDA"), providing, among other things, for the sale by the Agency to IROC of
the real property described as Lot 9, Tract 28450, on the terms provided therein; and
WHEREAS, there has been presented to the Agency Board a form of First Amendment to
Disposition and Development Agreement providing for certain minor modifications to the DDA as are
necessary to cause the close of escrow for the subject property to occur; and
WHEREAS, there are a number of recorded instruments affecting title to the subject property that
are obsolete and must be removed from title in order for the close of escrow to occur; and
_ WHEREAS, there has been presented to the Agency Board a form of Notice of Termination,
Cancellation and Release the effect of which removes such obsolete instruments from encumbering title
to the subject property.
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the Palm Desert
Redevelopment Agency hereby finds, determines, resolves and orders:
THAT the First Amendment to Disposition and Development Agreement is hereby approved, and
the Chairman, Vice-Chairman, and Executive Director of the Agency, or any one of them alone, are
hereby authorized to execute same.
BE IT FURTHER RESOLVED, that the the Notice of Termination, Cancellation and Release
is hereby approved, and the Chairman, Vice-Chairman, and the Executive Director of the Agency, or any
one of them alone, are authorized to execute same.
BE IT FURTHER RESOLVED, that the Agency hereby authorizes the Chairman, Vice-
Chairman, and the Executive Director of the Agency, or any one of them alone, to execute such other
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RESOLUTION NO. 344
reasonable certiiicates, documents, instruments, agreements, and non-material amendments, as are _
recommended by the Executive Director of the Agency and Agency Counsel, which are reasonably
required to cause the close of escrow to occur for the subject property.
PASSED, APPROVED and ADOPTED at a special meeting of the Palm Desert Redevelopment
Agency, held on this this 12th day of August, 1997, by the following vote, to wit:
AYES: CRITES, SNYDER
NOES: BENSON
ABSENT: SPIEGEL, KELLY
ABSTAIN: NONE
ATTEST:
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