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HomeMy WebLinkAbout18408 - RESOLUTIONS - 6/1/1994 RESOLUTION NO. 18408 OF THE CITY COUNCIL OF THE CITY PALM SPRINGS, CALIFORNIA, APPROVING THE OWNER PARTICIPATION AGREEMENT WITH CANYON DEVELOPMENT FOR THE CANYON PARK RESORT AND SPA MIXED PROJECT WITHIN THE CANYON REDEVELOPMENT PROJECT AREA GENERALLY LOCATED IN THE AREA SOUTH OF MURRAY CANYON DRIVE, NORTH OF ACANTO WAY AND EAST AND WEST OF SOUTH PALM CANYON DRIVE WHEREAS, the applicant, Canyon Development, a California General Partnership, has requested an Ownership Participation Agreement ( "OPA") to effectuate the Canyon Park Resort and Spa project; and WHEREAS, the City Council approved the Canyon Park Resort and Spa Specific Plan #1 (5 . 0576-SP-1) in July of 1991, for a mixed use project to be located in an area entailing 746 acres; and WHEREAS, the City Council, after public hearing, approved an amendment to the Specific Plan #1 (5 . 0576-SP-1A) on January 19, 1994, including 340 acres owned or controlled by Canyon Development and 406 acres owned or controlled by various other parties, which entails the same land uses as were approved in Specific Plan #1 including but not limited to, a resort hotel and spa, retail and restaurant complex, single and multi-family residential dwelling units, a golf course and tennis courts, roadways and flood control facilities ; and WHEREAS, the approved amendment to the Specific Plan includes an increase of 300 residential dwelling units; and WHEREAS, on January 19, 1994, the City Council approved a Planned Development District for the 340 acres owned or controlled by Canyon Development for a 400 room resort hotel and spa, 460 single and multi-family residential units, a restaurant and retail complex, an 18-hole golf course and golf clubhouse, a tennis complex, roadway improvements, flood control facilities and other public and private improvements; WHEREAS, on January 19, 1994, the City Council also approved a General Plan Amendment for the Canyon Park Resort and Specific Plan, amending the Land Use and Circulation Maps of the General Plan; and WHEREAS, on February 2, 1994, the City Council adopted the Ordinance approving the Development Agreement for the Canyon Park Resort and Spa; and WHEREAS, the Development Agreement sets forth the land uses approved as part of the Specific Plan #lA and the Planned Development District; and WHEREAS, the OPA reflects the land uses approved in the Specific Plan #1A and the Planned Development District; and WHEREAS, the Community Redevelopment Agency ("Agency") has been ' negotiating with Canyon Development to provide financial assistance for the project; and WHEREAS, Keyser-Marsten has completed a financial study including all costs and revenues generated by the various components of the project, which study concluded that the Canyon Park Resort Park and Spa project as a whole and the hotel portion in particular are not economically feasible without financial assistance from the Agency; and �O �a R18408 Page 2 WHEREAS, the OPA provides up to $300, 000, 000 in public financial assistance including 1000s. of the tax increment arising from the property owned or controlled by Canyon Development and 50'0 of the Transient Occupancy Tax generated from the Canyon Par], Resort and Spa 'hotel ; and WHEREAS, the OPA permits the above mentioned funds to only be used for the construction of public infrastructure related to the , project and not for the construction of private improvements; and WHEREAS, the OPA requires the public improvements to be constructed prior the Developer receiving the financial assistance and :requires that the Agency shall review all contracts for construction of the public improvements; and WHEREAS, the OPA stipulates that the commencement of the construction of the hotel shall be within five years of the adoption of the agreement; and WHEREAS, the OPA stipulates that no more than 500-. of the residential component of the Canyon Park Resort.. and Spa project shall be completed prior to commencing the construction of the hotel; and WHEREAS, the OPA includes requirements regarding proper property maintenance, covenants regarding non-discrimination and other standard clauses to protect; the public health and safety; and WHEREAS, in July of 1991, the City Council certified the Canyon Redevelopment Plan and Canyon Park Resort and Spa Specific Plan Final Environmental Impact Resort, adopted a Statement of Facts and Findings and a Statement; of Overriding Considerations; and WHEREAS, on January 19, 1994, the City Council certified a Negative ' Declaration for the Amended Canyon Park Resort and Spa Specific Plan for which the OPA reflects; and WHEREAS, the certified Negative Declaration also covers the other actions related to the amended Specific Plan, such as the General Plan Amendment, the Planned Development District and the Development Agreement; and WHEREAS, the OPA includes the identified land use plan approved as a part of the amended Specific Plan, the Planned Development District and the Development Agreement, which have already been assessed pursuant to the requirements of the California Environmental Quality Act; and WHEREAS, the City Council has carefully reviewed and considered all of the evidence presented in connection with the hearin!3 on the OPA, including but not limited to the staff report and other information presented by the applicant and other interested parties at a public meeting on June 1, 1994 . THE CITY COUNCIL OF THE CITY OF PALM SPRINGS FINDS AS FOLLOWS : Section 1 . That the OPA is consistent with the City' s General ' Plan and is consistent with the City Council approved Canyon Park Resort and Spa General Plan Amendment, Specific Plan Amendment, Planned Development District and Development Agreement . Section 2 . That carrying out the OPA including all stipulated restrictions in the OPA will assure the development of the Canyon Park Resort and Spa project which will in turn enhance the community by carrying out R18408 Page 3 the objectives of the General Plan, by enhancing the City' s economic base, by providing additional employment opportunities and by providing housing and recreation opportunities . Section 3 . Pursuant to California State Health and Safety Code Section 33421 . 1, funding the provisions of such ' improvements is necessary to effectuate the purposes of the redevelopment plan. The OPA will provide for the funding of public infrastructure as related to the Canyon Park Resort and Spa project which will allow for the realization of the project . Carrying out the project- will effectuate the purposes of the redevelopment plan by developing the subject property which has been determined to include conditions of blight which otherwise cannot be developed without financial assistance. Section 4 . The City Manager of the City of Palm Springs is hereby authorized and directed, for and in the name, and in behalf of the City Council of the City of Palm Springs, to take all action and to sign all documents in a form approved by the City Attorney necessary or desirable to effectuate the purposes of this resolution. ADOPTED this 1st day of June 1994 . AYES : Members Hodges, Lyons, Schlendorf and Mayor pro tem Reller-Spurgin ' NOES : None ABSENT: None ABSTAIN: Mayor Maryanov ATTEST: CIT M SP CALIFORNIA B4 � .. �Qjt/y Clerk i y Manag r REVIEWED AND APPROVED PfC 1