TITLE
Recommendation to adopt resolution approving the decision of the City of Long Beach, as the Successor Agency to the Redevelopment Agency of the City of Long Beach, to authorize City Manager to execute any and all documents necessary to remove the City of Long Beach, as the Successor Agency to the Redevelopment Agency of the City of Long Beach as a responsible party to the Parking Rights Agreement, dated September 21, 2001, between Coventry Long Beach Plaza, LLC, the City of Long Beach and the Redevelopment Agency of the City of Long Beach.
DISCUSSION
In September 2001, the former Redevelopment Agency (Agency), the City of Long Beach (City) and Coventry Long Beach Plaza, LLC entered into a Parking Rights Agreement (Agreement) as part of the larger CityPlace development. The Agreement provides for a certain number of parking spaces within City-owned parking garages to be reserved for retail shoppers to park while visiting CityPlace. The CityPlace parking garages are owned and operated by the City of Long Beach. Neither the Agency nor the City of Long Beach as the Successor Agency to the Redevelopment Agency of the City of Long Beach (Successor Agency) receive revenue from the parking garages. The Agency was a party to the Agreement only in that it was obligated to provide replacement parking for these retail visitors should a casualty occur to any of the City-owned garages. With the dissolution of the Agency and the ongoing winding down of its activities, the Successor Agency does not have alternative parking available. The Successor Agency may terminate existing contracts to facilitate the winding down process pursuant to Health and Safety Code Section 34171(d)(1)(E). This action removes the Successor Agency from the Agreement.
This matter was approved by the Successor Agency on May 5, 2015.
SUGGESTED ACTION
Approve recommendation.
BODY
A RESOLUTION OF THE OVERSIGHT BOARD OF THE CITY OF LONG BEACH AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT...
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