HomeMy WebLinkAboutPR 14414: MT. TAMALPAISinteroffice
MEMORANDUM
To: Mayor, City Council, and City Manager
From: Mark T. Sokolow, City Attorney ~`'j,~
Date: October 19, 2007
Subject: P. R. No. 14414; Council Meeting October 23, 2007
Attached is P. R. No. 14414 as it pertains to a resolution
approving a Development Agreement with Mt. Tamalpais Investments
Corp. The company is requesting an option to lease vacant land,
which will be utilized for residents for the World Trade Center,
which is being planned to be remodeled into apartments.
Presently, the City is leasing a portion of this vacant land to
Capital One Bank. The lease with Capital One Bank expires as of
May 31, 2008.
MTS:gt
Attachment
cc: Albert Fowler, Mt
Tamalpais Investments Corp.
z.pr14414 memo
P. R. No. 14414
10/19/07 tk
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO EXECUTE A DEVELOPMENT AGREEMENT WITH
MT. TAMALPAIS INVESTMENTS CORP.
WHEREAS, Albert Fowler, President of Mt. Tamalpais
Investments Corp., A Nevada Limited Liability Corporation, has
indicated that the Mt. Tamalpais Investments Corp. owns the
building located at 440 Austin, Port Arthur, Texas (World Trade
Center), which is presently vacant; and
WHEREAS, Mt. Tamalpais Investments Corp. is actively
planning to develop the property located at 440 Austin into
apartments; and
WHEREAS, Mt. Tamalpais Investments Corp. has also indicated
that they have contracts with the owners of lots 19 to 24 in
Block 109 to demolish said buildings so that they can be used
for parking for the prospective apartment building at 440
Austin; and
WHEREAS, Mt. Tamalpais Investments Corp. has requested
assistance from the City of Port Arthur in providing suitable
additional locations for parking for residents of the renovated
facility at 440 Austin; and
z.PR 14414
WHEREAS, the City of Port Arthur presently owns all or a
part of the following lots:
Parcel 1: Lots 13, 14, 15, 16, 17, and 18 of Block 109,
City of Port Arthur, in Jefferson County, Texas,
as the same appears upon the map or plat
thereof, on file and of record in Vol. 1 page
50, map records of Jefferson County, Texas.
Parcel 2: Lots 1, 2, 3, 22, 23, 24, and a part of Lot 21
of Block 110 of the City of Port Arthur, in
Jefferson County, Texas (official county map
book and volume description to follow), above
parcels are now vested by title in the name of
City of Port Arthur.
and
WHEREAS, said parcels has been used for parking for the
City's building located at 449 Austin, and for other uses; and
WHEREAS, the City Council is willing to make reasonable
assurances to the Mt. Tamalpais Investments Corp. that Parcels 1
and 2 can be used for parking for the prospective residents of
the apartment building to be built at 440 Austin if a suitable
renovation plan is filed by Mt. Tamalpais Investments Corp.
which is approved by the City Council; and
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PORT ARTHUR:
Section 1. That the City of Port Arthur herein
authorizes the City Manager to execute a development Agreement
in substantially the same form attached hereto as Exhibit "A".
z.PR 14414
Section 2. That a copy of the caption of this
Resolution be spread upon the Minutes of the City Council.
READ, ADOPTED AND APPROVED on this day of
A.D., 2007, at a Meeting of the City Council of
the City of Port Arthur, Texas, by the following vote: AYES:
Mayor
Councilmembers
NOES:
MAYOR
ATTEST:
CITY SECRETARY
APPROVED AS TO FORM:
CITY ATTORNEY
APPROVED FOR ADMINISTRATION:
CITY MANAGER
z,PR 14414
Exhibit "A"
DEVELOPMENT AGREEMENT
WHEREAS, Albert Fowler, President of Mt. Tamalpais
Investments Corp., A Nevada Limited Liability Corporation, has
indicated that the Mt. Tamalpais Investments Corp. owns the
building located at 440 Austin, Port Arthur, Texas (World Trade
Center), which is presently vacant; and
WHEREAS, the Mt. Tamalpais Investments Corp. is actively
planning to develop the property located at 440 Austin into
apartments; and
WHEREAS, the Mt. Tamalpais Investments Corp. has also
indicated that they have contracts with the owners of lots 19 to
24 in Block 109 to demolish said buildings so that they can be
used for parking for the prospective apartment building at 440
Austin; and
WHEREAS, the Mt. Tamalpais Investments Corp. has requested
assistance from the City of Port Arthur in providing suitable
additional locations for parking :Eor residents of the renovated
facility at 440 Austin; and
WHEREAS, the City of Port Ari~hur presently owns all or a
part of the following lots:
Parcel 1: Lots 13, 14, 15, 16, 1'7, and 18 of Block 109,
City of Port Arthur, in Jefferson County, Texas,
as the same appears upon the map or plat
thereof, on file and o:E record in Vol. 1 page
50, map records of Jefferson County, Texas.
z.development agreement fowler
Parcel 2: Lots 1, 2, 3, 22, 23, :?4, and a part of Lot 21
of Block 110 of the City of Port Arthur, in
Jefferson County, Texas (official county map
book and volume description to follow), above
parcels are now vested by title in the name of
City of Port Arthur.
and
WHEREAS, said parcels has been used for parking for the
City's building located at 449 Austin, and for other uses; and
WHEREAS, the City Council is willing to make reasonable
assurances to the Mt. Tamalpais Investments Corp. that Parcels 1
and 2 can be used for parking for the prospective residents of
the apartment building to be built at 440 Austin if a suitable
renovation plan is filed by Mt. Tamalpais Investments Corp.
which is approved by the City Council; and
NOW THEREFORE BE IT AGREED BY AND BETWEEN THE CITY OF PORT
ARTHUR AND MT. TAMALPAIS INVESTMENTS CORP.:
Section 1. That the City of Port Arthur herein agrees
to give Mt. Tamalpais Investments Corp. an option until December
31, 2008 to lease Parcel 1 and Parcel 2 at a cost of $200 per
year with a lease agreement to be approved by the City Council
with the appropriate insurance, and indemnification provisions
for a term of 25 years which can :be extended by Mt. Tamalpais
Investments Corp. for an additional 10 years so long as the
existing building is remodeled and maintained in accordance with
the code of ordinances of the City of Port Arthur. Said option
z.development agreement fowler
for the lease must be exercised by December 31, 2008. As a
condition therefore, Mt. Tamalpais Investments Corp. must submit
to and have approved by the City Council the following, to-wit:
(1) a remodeling plan for the interior of the World Trade
Building at 440 Austin, (2) a conversion plan for the buildings
on Lots 19 to 24 of Block 109 so that said area can be used for
parking lots, (3) a parking usage plan for Parcels 1 and 2 as
well as for Lots 19 to 24 of Blocl~ 109 which is reasonably
suitable for the prospective residents of the building at 440
Austin, (4) reasonable financial assurances that the remodeling
and renovations will take place and (5) a lease agreement in a
format that is acceptable to the City with the appropriate
insurance and indemnification provisions.
Section 2 That Mt. Tamalpais Investments Corp. will
take such precautions as to avoid the future deterioration of
the building located at 440 Austin and to secure the building.
Section 3. That said development agreement shall not
affect the lease rights of Capital One Bank as delineated in
Resolution No. 07-163, which expires on May 31, 2008.
Section 4. That the notice to the parties shall be sent
to the following addresses:
z.development agreement fowler
TO: CITY OF PORT ARTHUR
ATTN: Stephen Fitzgibbons
City Manager
444 Fourth Street
P. O. Box 1089
Port Arthur, TX 77641-1089
TO: Mt. Tama:lpais Investments Corp.
ATTN: Albert H. Fowler
P. O. Bo:~c 2 8 4 6 4
San Jose,, California 95159
SIGNED AND AGREED TO on this the day of
2007.
MT. TAMAL PAIS INVESTMENTS CORP.
By:
(Printed Name)
SIGNED AND AGREED TO on this the day of ,
2007.
CITY OF PORT ARTHUR
By:
Stephen Fitzgibbons,
City Manager
z.development agreement fowler