HomeMy WebLinkAbout02917 - PALM MOUNTAIN RESORT CRA TOT PASSTHRU PA5B2 155 S BELARDO Community Redev Agency & City
Coop Agr re Pass-thru POT Incrm
PA5B2 155 S Belardo Pacific
COOPERATION AGREEMENT Hosp Grp Project Plm Mt Resrt
PALM MOUNTAIN RESORT AGREEMENT 2g17 & CRA A260
R17332 R735 11-7-90 _
This Cooperation Agreement is made and entered into by and
between the City of Palm Springs (the "City" ) , a municipal
corporation, and the Community Redevelopment Agency of the City of
Palm Springs (the "Agency" ) , a public body corporate and politic.
This Cooperation Agreement is made with respect to the
following:
A. The Redevelopment Plan for the Oasis Redevelopment
Project Area (the "Redevelopment Plan" ) was approved and adopted
by the City Council of the City by Ordinance No. 1224 on August 10 ,
1984 .
B. In adopting the Redevelopment Plan, the City Council
pledged its cooperation in helping to carry out the Redevelopment
Plan and further declared its readiness to consider and take
appropriate action upon proposals and measures designed to
effectuate the Redevelopment Plan.
C. For the purpose of effectuating the Redevelopment Plan,
the Agency has entered into that certain Owner Participation
Agreement dated ?ti'-r3 '7, 1 19-90-, (the "OPA" ) , with
Pacific Hospitality Group, a sole proprietorship of William H. Mc
Wethy (the "Participant" ) , to provide financial assistance for the
rehabilitation, improvement and redevelopment of the Palm Mountain
Resort (formerly known as the Desert Inn Hotel) by Participant in
accordance with the terms and conditions of the OPA.
D. City, under the power and authority granted to it
pursuant to Section 33220 of the California Health and Safety Code
and by other applicable laws , intends to cooperate with Agency in
implementing the OPA with Participant where necessary or
convenient.
NOW, THEREFORE, in consideration of the foregoing, and to
cooperate in the implementation of the Redevelopment Plan, the City
and Agency agree as follows :
1 . City shall in good faith annually consider the
appropriation of Net Transient Occupancy Tax Increment attributable
to the Project to Agency for Agency' s repayment of the Advance by
Participant as provided in the OPA.
2. The City Council agrees to cooperate and help to carry
out the Redevelopment Plan and to request the various officials,
departments, boards and agencies of the City having administrative
responsibilities in the Property to cooperate to such end and
exercise their respective functions and powers in the manner
consistent with existing ordinances , policies and statutes and to
consider and take appropriate actions upon proposals and measures
designed to effectuate the OPA between Participant and Agency.
3 . City agrees to cooperate with Agency to the fullest
extent reasonable and feasible to fulfill and implement the terms ,
conditions and agreements of the OPA.
4 . The Terms within this Cooperation Agreement shall have
the same meaning as under the OPA unless otherwise defined.
IN WITNESS WHEREOF, the Agency, and City ,have executed this
Cooperation Agreement as of the '2 day of
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
By
City Clerk Title Ci;,; A�cabeG
7
REDEVELOPMENT AGENCY OF THE CITY
OF PALM SPRINGS
r
By
Title Mayor
APPROVED AS TO FORM:
Agency e eral Counsel
APPRP',%;rD RY THr MY COUNCIL
By
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