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12/26/2023 10:50:30 AM
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Department
City Clerk
General - Type
Resolutions
General 2 - Date
12/19/2023
Number
53
Description
extend the leaseback agreement with the state of CA dept of general services to lease tower building
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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />7R <br />RESOLUTION NO. 53 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, <br />CALIFORNIA, AS SUCCESSOR AGENCY TO THE REDEVELOPMENT <br />AGENCY OF THE CITY OF RIVERSIDE, REAFFIRMING APPROVAL FOR <br />THE SUCCESSOR AGENCY TO EXTEND THE LEASEBACK AGREEMENT <br />WITH THE STATE OF CALIFORNIA - DEPARTMENT OF GENERAL <br />SERVICES TO LEASE THE CALIFORNIA TOWER BUILDING - GROUND <br />FLOOR RETAIL, LOCATED AT 3737 MAIN STREET, FOR AN ADDITIONAL <br />TEN YEARS, FROM OCTOBER 1, 2024 THROUGH SEPTEMBER 30, 2034, <br />AS APPROVED IN THE SUCCESSOR AGENCY'S LONG-RANGE <br />PROPERTY MANAGEMENT PLAN. <br />WHEREAS, pursuant to Resolution No. 22322, adopted by the City Council of the City of <br />Riverside ("City") on January 10, 2012, the City of Riverside agreed to serve as the Successor Agency <br />("Successor Agency") to the Redevelopment Agency of the City of Riverside ("RDA"), commencing <br />upon dissolution of the Redevelopment Agency on February 1, 2012, pursuant to Assembly Bill X1 <br />26 ("AB 26" — "Dissolution Act"); and <br />WHEREAS, Health and Safety Code Section 34191.3 mandates that the long-range property <br />management plan once approved by the State of California — Department of Finance ("DOF"), will <br />govern and supersede all other provisions of the Dissolution Act in association with the disposition <br />and use of the real properties and other assets of the former RDA; and <br />WHEREAS, the Successor Agency is required to follow the approved plan in the <br />implementation of the former RDA's enforceable obligations; and <br />WHEREAS, Health and Safety Code Section 34177(i) provides that a successor agency is <br />required to continue to oversee development of the former RDA's properties until the contracted work <br />has been completed or the contractual obligations of the former RDA can be transferred to other <br />parties; and <br />WHEREAS, on April 26, 1994, the former . RDA entered into a lease agreement ("Lease <br />Agreement") with the State of California — Department of General Services ("DGS") to lease the entire <br />1.2 -acre parcel with 160,000 -square -foot office tower and approximately 22,400 square feet of ground <br />floor retail and office space ("Ground Floor"), located at 3737 Main Street, commonly known as <br />"California Tower" ("Property"), for the term of 30 years; and <br />
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