HomeMy WebLinkAbout7066 - Off Site Parking in Newport Center4
RESOLUTION N0, 7066
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE EXECUTION OF
AN AGREEMENT WITH BALBOA INSURANCE COMPANY
REGARDING OFF SITE.PARKING IN NEWPORT CENTER
WHEREAS, The Irvine Company is the owner and developer
of certain real property in the City of Newport Beach located
in the 600 block of Newport Center, with the exception of
that parcel hereinafter described as Parcel 90A "; and
WHEREAS, Balboa Insurance Company is the owner of
Parcel A, shown on the sketch to accompany legal description
attached hereto as Exhibit "II1. and located in the 600 block
of Newport Center; and
WHEREAS, Balboa Insurance Company is constructing a
16 -story office building upon Parcel A; and
WHEREAS, the required number of on -site parking spaces
as set forth in the provisions of Newport Beach Municipal Code
are not available on Parcel A; and
WHEREAS, the Newport Beach Municipal Code allows off
street parking to be provided on a site other than the building
site upon the condition that an agreement between the property
owner and the City is executed and recorded setting forth that
the off street parking shall be provided and maintained for so
long as the building exists without having sufficient parking
on -site; and
WHEREAS, an agreement has been prepared under which it
is agreed between The Irvine Company as owner and Balboa
Insurance Company as lessee, that Parcel 2 shown on Exhibit II
• attached hereto will be used for purposes of providing sufficient
parking as required by the 16 -story office building located
adjacent thereto for a period of 95 years; and
-1-
WHEREAS, an agreement has been prepared under which The
Irvine Company and Balboa Insurance Company guarantee to the City
of Newport Beach that the off-site parking located adjacent to
Parcel A described above, will be maintained as a parking
• facility to satisfy the parking requirements of the Newport
Beach Municipal Code for the 16 -story office structure located
on Parcel A;
NOWs THEREFORE, BE IT RESOLVED that the City Council of
the City of Newport Beach hereby approves said agreements, and
the Mayor and City Clerk are authorized and directed to execute
the agreement between The Irvine Company, Balboa Insurance Company
and the City of Newport Beach on behalf of the City.
BE YT FURTHER RESOLVED that the City Clerk is author-
ized and directed to record said agreement and execute any
certificate necessary to accomplish said recording.
ADOPTED this 8th day of September, 1969.
ATTEST:
City Clerk
...........�>
MY CLERK OR M2 CITY OF HE, POU MAW
DAVI
•
-2-
Mayor
TLW:eg
9/19/69
0
•
r,.
a
8
A
C
O
D
u A
C
u Z
Zjn ^
N
t
'
9
co
PARCEL A- s
o
'
G
i
I
EXHIBIT II
THE IRVINE COMPANY
c s ®a s --
-