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HomeMy WebLinkAbout7675 - Reconveyance of County Courthouse SiteC RESOLUTION NO_ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING EXECUTION OF AN AGREEMENT BETWEEN THE CITY AND THE IRVINE COMPANY IN CONNECTION WITH THE RECONVEYANCE OF THE COUNTY COURTHOUSE SITE TO THE CITY WHEREAS, on September 15, 1969, the City of Newport Beach and The Irvine Company entered into an agreement for the City to purchase the Civic Center site at Newport Center, reserving unto The Irvine Company certain architectural review and mineral rights; and WHEREAS, following the purchase of said Civic Center site, the County of Orange agreed to purchase from the City a portion of said parcel, for use as a courthouse facility site; and WHEREAS, as a requirement of the courthouse site sale escrow, The Irvine Company was required to quitclaim the interests reserved by it under the conveyance of the original parcel; and WHEREAS, the City and the County have entered into an agreement, dated March 7, 1972, to rescind the agreement for sale of the courthouse site and for the City to repurchase, at the original purchase price, the property conveyed; and WHEREAS, an agreement between the City of Newport Beach and The Irvine Company has been presented to the City Council, with accompanying documents to be completed and executed, which would provide the funding with which to reacquire the property conveyed by the City to the County, and would restore the original balance owed by the City against the entire original parcel, at no expense to the City; and would effect the reconveyance of the portion purchased by the County back to the City, re- imposing the original conditions reserved by The Irvine Company; NOW* THEREFORE* BE IT RESOLVED by the City Council of -1- • the City of Newport Beach that the Mayor and City Clerk are hereby authorized and directed to execute the above described agreement.-between The Irvine Company and the City of Newport Beach, together with the accompanying documents necessary to effect the terms of the agreement and to restore all of the parties to their original position as of the date of the above agreement dated September 15, 1969, between The Irvine Company and the City of Newport Beach. ADOPTED this 10th day of April, 1972. ATTEST: aE % CL B City 'Clerk CERTtFiED AS TH407J1GCN41tAL CI CLE K OF THE CITY BEACH AVIR 14 1972 DAM Mal /yor, -2- DON :mh 4/7/72