HomeMy WebLinkAbout13 APPROVE THE 3RD AMENDMENT TO THE TUSTIN AUTO CENTER MERCHANTS ASSOC. LEASEAgenda Item 13
AGENDA REPORT Reviewe d
:
City Manager
Finance Director NIA
MEETING DATE: JUNE 17, 2014
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: CITY MANAGER'S OFFICE
SUBJECT: THIRD AMENDMENT TO THE TUSTIN AUTO CENTER
MERCHANTS' ASSOCIATION LEASE
SUMMARY
Approval is requested to enter into a Third Amendment to the Lease ( "Third
Amendment ") with the Tustin Auto Center Merchants' Association ( "Association "),
expanding the available parking area and extending their existing lease of City of Tustin
real property adjacent to the Tustin Auto Center.
RECOMMENDATION
It is recommended the City Council take the following actions:
1. Deem entering into the Third Amendment with the Association is an appropriate
action as outlined in Tustin City Code Section 7960(B); and
2. Approve the attached Third Amendment with the Association, expanding the
available parking area and extending the existing Lease with the City for real
property adjacent to the Tustin Auto Center; and
3. Authorize the City Manager to execute the Third Amendment.
FISCAL IMPACT
Since the proposed Lease premises are reserved for future right -of -way and are not
marketable for development, there is no lease revenue that the City relies upon. The
only anticipated City incurred costs for the Third Amendment with the Association is
minor and related to preparation and administration of the Lease to ensure compliance
with terms and conditions including, but not limited to, annual insurance renewals.
ALIGNMENT WITH STRATEGIC PLAN
The Third Amendment contributes to the fulfillment of the City's Strategic Plan Goal A,
Strategy #5 by strengthening business relationships for economic development
purposes.
Agenda Report
June 17, 2014
Page 2
BACKGROUND /DISCUSSION
On December 6, 2011, in accordance with Tustin City Code Section 7960 and as
enacted by Ordinance No. 1389, the City Council approved the Second Amendment to
the Lease Agreement with the Association. The Association currently leases City
vacant real property (1.89 acres) on the future reserved right -of -way for Myford Road for
storage and parking of vehicles for the Tustin Auto Center at no annual cost. The term
of the Lease commenced on January 1, 2012 and will expire on December 31, 2016.
An additional two (2) five -year extensions were authorized under the terms of the
Second Amendment.
Earlier this year, the Irvine Company offered an adjacent parcel, property between the
flood control channel and the Lease Agreement's subject property. The remnant parcel
was impractical for the Irvine Company to develop and was granted to the City via a
Grant Deed. On April 1, 2014, the City Council approved site enhancements to this
parcel for expanded vehicle storage capability. In order to finalize the City Council April
151 actions, staff is recommending amending the current Lease Agreement to add this
parcel for the storage and parking of vehicles.
Tustin City Code Section 7960 outlines the process City and Redevelopment Agency
staff must follow for the approval, extension or modification of any existing City or
Redevelopment Agency real property lease for less than market value. Section 7960(B)
identifies three different policy directions that the City Council may direct as follows:
• Preparation of a proposed lease, modification or extension; .
• Preparation of a request for proposal ( "RFP ") for a new leasehold from interested
parties, or;
• Take such other action as deemed appropriate.
As originally outlined when the City Council approved the Second Amendment in 2011,
staff believes there are unique and unusual circumstances related to the subject Tustin
Auto Center Merchant's Association Lease with the City that are different from other
City real property assets, which can be marketed and developed at fair market value, for
the following reasons:
1. The Lease premises is a part of vacant property owned by the City and being held
as reserved right -of -way for a possible future extension of Myford Road. As
reserved right -of -way, the land is neither available nor suitable for development.
Construction of permanent buildings on the premises would not be permitted. As a
result, the Lease premises would not be able to achieve a full market value lease.
2. The surrounding land uses adjacent to the proposed Lease premises impact access
to the Lease premises and would dilute any anticipated market rent lease value of
Agenda Report
June 17, 2014
Page 3
the property. Immediately adjacent to the Lease premises on the west is an Orange
County Flood Control District channel, to the south is the Interstate 5 (Santa Ana)
Freeway, to the north is El Camino Real, and to the east is an area for employee
parking and deliveries for the Tustin Market Place.
3. A Lease extension provides an opportunity for the City Council to promote
economic development by leasing the property at no cost for interim temporary
parking and vehicle storage (which is all the property, as reserved right -of -way, can
really be used for) which will directly benefit the Tustin Auto Center, a major job and
tax generator in the City. Temporary parking and vehicle storage on the Lease
premises will benefit all sixteen dealerships in the Tustin Auto Center.
In accordance with Section 7960(6) of the Tustin City Code, staff recommends the City
Council deem entering into a Third Amendment as an appropriate action and approve
the Third Amendment as attached. The Lease extension, which continues to support
interim vehicle storage and parking for the Tustin Auto Center, will support City efforts to
recognize that the Auto Center is a major contributor to the City's tax base. During
calendar year 2013, dealerships in the Tustin Auto Center generated approximately $5
million dollars or over twenty percent to the City's total sales tax base. This figure does
not take into account the additional contribution that the dealerships make to the City in
real and personal property taxes. In addition, the Association has agreed to promote
City of Tustin - sponsored events on a monthly basis on its Auto Center Identification
Sign located next to the Interstate 5 Freeway. The promotion of Tustin - sponsored
events is conditional upon the Tustin Planning Commission approving an Amendment to
the Association's Conditional Use Permit 2011 -06.
Since the Second Amendment expires in a little more than two years, December 31,
2016, staff is recommending the Third Amendment establish a new five -year term from
July 1, 2014 through June 30, 2019. The additional two (2) five -year extensions
authorized under the terms of the Second Amendment would remain in effect. In the
event the City needs the reserved right -of -way before any future Lease termination, the
Lease will continue to contain provisions requiring the tenant to surrender the land at
any time the City needs the property.
The Third Amendment is considered a project under the California Environmental
Quality Act (CEQA). According to the California Code of Regulations, Title 14, Division
6, Chapter 3, Article 5, Section 15061, the Third Amendment can be determined exempt
from CEQA if the project is exempt pursuant to a categorical exemption identified in
Section 15301 of Article 19. This project is a 'Class 1 project' as defined by Section
15301, the leasing of existing facilities that involve negligible or no expansion of use
beyond that existing at the time of the lead agency's determination, and, as a result, is
categoricallyexempt. Upon City Council approval, a CEQA "Notice of Exemption" will
be filed with the County Clerk.
Agenda Report
June 17, 2014
Page 4
Staff will be available to answer any questions the City Council may have.
Jerry Craig e )
Economic D veto a &Housing Manager
Third Amendment to the Lease
THIRD AMENDMENT
TO THE GROUND LEASE BETWEEN
THE CITY OF TUSTIN
AND
TUSTIN AUTO CENTER MERCHANTS ASSOCIATION
This THIRD AMENDMENT TO GROUND LEASE (this "Third Amendment ") is entered
into as of June 17, 2014 (the "Effective Date ") by and between the CITY OF TUSTIN, a municipal
corporation of the State of California ( "Landlord "), and the Tustin Auto Center Merchants
Association, a non - profit California Corporation, ( "Tenant"). Landlord and Tenant are sometimes
referred to herein individually as a "Party" and collectively as the "Parties ".
RECITALS
A. The Landlord and the Tenant entered into that certain Ground Lease dated as of January
1, 2001, an Amended Ground Lease ( "First Amendment ") dated as of January 1, 2009, and a Second
Amendment to the Ground Lease ( "Second Amendment ") dated as of January 1, 2012 (collectively,
the "Original Lease ") pursuant to which, among other things, the Landlord agreed to lease and the
Tenant agreed to lease certain Property (the "Premises ") as defined in the Original Lease, and more
particularly described in Exhibit A thereof, for temporary parking and vehicle storage needs. Initially
capitalized terms not defined herein shall have the respective meanings assigned to such terms in the
Original Lease; and
B. Landlord recently acquired ownership of an additional parcel existing adjacent to the
Premises ( "Additional Parcel "). The Additional Parcel is more particularly described in Exhibit A.1,
attached hereto and incorporated herein by this reference; and
C. The parties mutually desire to expand the leased Premises, as defined in the Original
Lease, and more particularly described in Exhibit A thereof, to include and incorporate the Additional
Parcel; and
D. Given delays in the future construction of Myford Road south of El Camino Real, it is
the desire of both parties to permit the Tenant to continue to utilize the Premises, inclusive of the
Additional Parcel, until the Premises are needed by Landlord for the Myford Road extension or until
the Tenant is able to finance and construct additional permanent parking and vehicle storage facilities
within the Tustin Auto Center ( "Auto Center "). The parties agree and acknowledge that Tenant's use
of the Premises is only temporary and it is not the City's intent to ever convey the Premises to the
Tenant; and
E. The Landlord finds and determines that accommodating temporary parking and vehicle
storage on the subject Premises, inclusive of the Additional Parcel, is an important public purpose and
will promote economic development and the permanent physical improvement of the Auto Center,
attract new business, create jobs and prevent erosion of the local tax -base associated with the Auto
Center; and
F. In finding that the accommodation of temporary parking and vehicle storage is an
important public purpose, the Landlord has funded the site preparation of the Additional Parcel to
increase the available temporary parking and vehicle storage area for the Tenant; and
1
1009182.1
G. In exchange for the continued use of the Premises, inclusive of the Additional Parcel,
and conditional upon the City of Tustin Planning Commission approving an Amendment to CUP 2011-
06, the Tenant agrees to promote Landlord- sponsored events on a monthly basis on its Auto Center
identification sign (Reader Board) along Interstate 5 Freeway; and
H. The parties mutually desire to extend the term of the Lease by executing this Third
Amendment to the Original Ground Lease.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing Recitals and of the promises and
mutual covenants incorporated within the Original Lease which are incorporated in the operative
provisions of this Amendment by this reference as though set forth in their entirety, the Parties further
agree as follows:
1. Modification to the Original Lease. The following sections of the Original Lease are
hereby amended as follows:
(a) Section 2.1 is hereby deleted and replaced as follows:
"2.1 Term. The term ( "Term ") of this Lease shall be five (5) years, commencing on
July 1, 2014 ( "Commencement Date ") and ending on June 30, 2019 ( "Expiration
Date "), unless sooner terminated as provided herein. The Tenant acknowledges that
notwithstanding any other provision of the Lease, the Landlord shall have the right to
terminate pursuant to Sections 14.2.1 and 14.2.2 herein."
(b) Section 3 is hereby deleted and replaced as follows:
"3. RENT
3.1 Tenant shall provide the Landlord, as rent hereunder, the performance of all
services, covenants and conditions as provided herein.
3.2 As additional consideration for its use of the Premises and in the event that the
City of Tustin Planning Commission approves an Amendment to CUP 2011 -06, Tenant
agrees to promote Landlord- sponsored events on a monthly basis on its Auto Center
identification sign (Reader Board) along Interstate 5 Freeway."
(c) Section 23 is hereby amended to read as follows:
"Landlord ( "City of Tustin
Jeffrey C. Parker, City Manager
City of Tustin
300 Centennial Way
Tustin, CA 92780
2
1009182.1
Copy to:
David Kendig, City Attorney
Woodruff, Spradlin, & Smart
555 Anton Blvd., Ste. 1200
Costa Mesa, CA 92626"
Tenant ( "Tustin Auto Center Merchants Association")
John Patterson, President
c/o Tustin Auto Center Merchants Association
1 Auto Center Drive
Tustin, CA 92782
and
CTSC Law
Sheldon Cohen, Attorney
2601 Main Street, Suite 800
Irvine, California 92614"
(d) Section 27 is hereby amended to reflect the addition of the Additional Parcel to the
leased Premises:
"Exhibit "A" & "A.1" — Description of Premises
Exhibit "B" — Scope of Development
Exhibit "C" — Schedule of Performance
Exhibit "D" — Insurance Form"
2. Applicable Sections of the Original Ground Lease, First and Second Amendment
to the Original Ground Lease. All sections of the Original Lease not specifically amended herein
shall remain in full force and effect.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
3
1009182.1
IN WITNESS WHEREOF, Landlord has authorized this Third Amendment between the City
of Tustin and Tustin Auto Center Merchants Association to be executed for and on behalf of the City
of Tustin, and Tenant has caused the same to be executed by its duly authorized officer on the date first
above written.
"LANDLORD"
City of Tustin, California
Dated:
Jeffrey C. Parker, City Manager
Attest:
Erica Rabe
City Clerk Services Supervisor
APPROVED AS TO FORM
David E. Kendig
City Attorney
"TENANT"
Tustin Auto Center Merchants Association,
a non - profit California Corporation
By:
Name:
Title:
By:
Name:
Title:
4
1009182.1
Exhibit A
Description of the Premises
20
LEGAL DESCRIPTION
ItiIYFORD ROAD LEASE AREA PARCEL DESCRIPTION
THOSE PORTIONS OF PARCEL 1.A-ND PARCEL 3 AS DESCRIBED IN A DEED
TO THE CITY OF TUSTIN, RECORDED SEPTEI4IBER 16, 1988, AS
INSTRL)TIMENT NO. 88- 468937 OF OFFICIAL RECORDS, IN THE OFFICE OF
THE COUNTY RECORDER OF ORANGE COUNTY, CALIFORNIA.
BEGINNING AT A POINT ON THE WEST LINE OF SAID PARCEL 1, SAID
POINT ALSO BEING THE NORTHEASTERLY CORNER OF SAID PARCEL 3,
SAID POINT BEING ON A CURVE CONCAVE EASTERLY HAVING A P A-DIUS
OF 1840.00 FEET, A RADIAL LINE TO SAID POINT BEARS NORTH 79--38-56"
WEST;
THENCE DEPARTING FROM SAID `VEST LINE OF PARCEL 1 A-N-D ALONG
THE WESTERLY LINE OF SAID PARCEL 3 THE FOLLOWING 6 COURSES:
SOUTH 27 °13'12" REST A DIST_� \CE OF 53.90 FEET:
THENCE SOUTH 18 °40'01 "WEST A DISTANCE OF 122.76 FEET:
THENCE SOUTH 15`32'56" WEST A DISTANCE OF 66.27 FEET:
-, HENCE SOUTH 1103639" W EST A DISTANICE OF 55.82 FEET,
THENCE SOUTH 11 032'56" WEST A DIST_a,NCE OF 55.80 FEET TO A POINT ON
THE EASTERLY LINE OF THE EL lIODENA- IRVINE CHAINNEL. 114.00 FEET
FIDE AS DESCRIBED IN DEED TO THE COUNTY OF OR -ANGE, COUNTY
FLOOD CONTROL DISTRICT RECORDED JUNE 6, 1987 AS INSTRUMENT NO.
87- 383183 OF OFFICIAL RECORD OF SAID COUNTY;
THENCE CONTIN- UIN G ALONG THE EASTERLY LIFE OF SAID EL MODEN A -
IRVINE CHANNEL SOUTH 00 °05'17" WEST A DISTANCE OF 201.84 FEET TO
THE BEGINNING OF A CURVE, CONCAVE WESTERLY HAS E G A RADIUS OF
1007.00 FEET;
THENCE SOUTHERLY ALONG SAID CURVE, AN ARC DISTANCE OF 295.43
FEET THROUGH A CENTRAL ANGLE OF 16 048'34 ", TO THE BEGIN'_vING OF A
NON - TANGENT LITN=E. A R- A.DLAL LI_v'E TO SAID BEGINNING BEARS SOUTH
73 °06'09" EAST;
THENCE SOUTH 72 °01'17" EAST A DISTANCE OF 60.53 FEET TO THE
BEGINNING OF A NON- T_4NGENT CURVE, CONCAV-E WESTERLY HAVING A
RADIUS OF 1832.00 FEET, A RADLAL LINE TO SAID BEGINNING BEARS
NORTH 72 °28'22" WEST;
THENCE NORTH 06 003'33" EAST A DIST_AN. CE OF 129.44 FEET TO TrE
BEGINNING OF A CURVE, CONCAVE EASTERLY HAVING A RADIUS 17, 68.00
FEET, A R.ADLAL LINE TO SAID POINT BEARS NORTH 83 °56'17" WEST;
THENCE NORTHERLY ALONG SAID CURVE, A_T�T ARC DIST.LN CE OF 50.04
FEET THROUGH A CENTRAL ANGLE OF 01 03718 ";
THENCE NORTH 84 015'23" WEST A DISTANCE OF 32.02 FEET TO THE
CENTER LINE OF SAID PARCEL 1, SAID POINT BEING THE BEGINNING OF
A CURVE. CONCAVE EASTERLY HAVING A RADIUS 1800.00 FEET;
THENCE NORTHEASTERLY ALONG SAID CURVE, A.'NT ARC DIST.A_NCE OF
748.42 FEET THROUGH A CENTRAL ANGLE OF 23 °49'22 ";
THENCE NORTH 58 °21'28" WEST A DIST_MNICE OF 11.95 FEET;
THENCE NORTH 31 038'32" EAST A DISTANCE OF 18.00 FEET:
THENCE SOUTH 55 020':34" EAST A DISTANCE OF 6.00 FEET;
THENCE NORTH 29 031'13" EAST A DISTANNCE OF 88.03 FEET;
THENCE NORTH 49023'55" WEST A DISTANCE OF 28.12 FEET TO A POINT ON
THE WESTERLY LINE OF SAID PARCEL 1, SAID POINT ALSO THE
BEGINNING OF A CURVE. CONCAVE EASTERLY HAVING a R.ADIUS OF
1840.00 FEET, A RADIAL LINE TO S_'�ID POINT BEARS NORTH 55 005'46"
WEST.
THENCE SOUTHERLY ALONG SAID CURVE. AN ARC DISTANCE OF 563.69
FEET THROUGH A CENTRAL ANGLE 17 033'10" TO THE POINT OF
BEGINNING.
CONTAINS 1.890 ACRES.
MORE PARTICULARLY SHOWN ON EXHIBIT B, ATTACHED HERETO A.'vD BY
THIS REFERENCE MADE A PART THEREOF.
C�
DEREK J. MCG GOR
L.S. l 6496 EXPIRES 6/30/03
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EXHIBIT A.1
Legal Description of Adjacent Parcel to Exhibit A of the Original Lease
That portion of Parcel 3 as shown on Exhibit "B" of Lot Line Adjustment No. 2012 -03, in the City
of Tustin, County of Orange, State of California, recorded February 8, 2013 as Instrument No.
2013000083629 of Official Records, in the office of the County Recorder of said County,
described as follows:
Beginning at the most Northerly corner of Lot 1 of Tract No. 13556 as shown on the map filed in
Book 616, Pages 10 through 17, inclusive, of Miscellaneous Maps, in said office of the County
Recorder, said point being at the Northeasterly terminus of that certain course shown as having
a bearing and distance of "N40 °39'21" E 208.97' " on said Tract No. 13556; thence along the
Northwesterly and Westerly lines of said Tract No. 13556 the following courses: South
40 °39'21" West 314.65 feet, North 49 °20'39" West 4.50 feet, South 40 °39'21" West 248.45 feet
to the beginning of a curve concave Southeasterly, having a radius of 443.00 feet,
Southwesterly and Southerly 313.66 feet along said curve through a central angle of 40 °34'04 ",
South 00 °05'17" West 496.28 feet to the beginning of a curve concave Westerly, having a radius
of 1007.00 feet, Southerly 314.43 feet along said curve through a central angle of 17 °53'26 ",
non - tangent South 72 °01'17" East 28.00 feet to the beginning of a non - tangent curve concave
Northwesterly, having a radius of 1035.00 feet, a radial line of said curve to said point bears
South 72 °01'17" East, Southwesterly 47.90 feet along said curve through a central angle of
2 °39'05 ", South 20 °37'48" West 22.10 feet, North 50 °07'54" West 31.77 feet, and South
20 °37'48" West 23.80 feet to the most Northerly corner of Lot 10 of said Tract No. 13556;
thence leaving said Westerly line of said Tract No. 13556 along the Northeasterly line of said Lot
10 South 50 °29'32" East 74.83 feet to the Easterly right -of -way line of Myford Road as
described in that certain Offer of Dedication, recorded September 16, 1988 as Instrument No.
88- 468937 of Official Records, in said office of the County Recorder, said point being on a non -
tangent curve concave Westerly, having a radius of 1840.00 feet, a radial line of said curve to
said point bears South 68 °28'28" East; thence leaving said Northeasterly line along said Easterly
right -of -way line and the Southeasterly right -of -way line of said Myford Road the following
courses: Northeasterly and Northerly 496.69 feet along said curve through a central angle of
15 °27'59 ", North 6 °03'33" East 129.44 feet to the beginning of a curve concave Southeasterly,
having a radius of 1760.00 feet, Northerly and Northeasterly 1062.73 feet along said curve
through a central angle of 34 °35'48 ", and North 40 °39'21" East 8.32 feet to the Northeasterly
line of said Lot 1; thence leaving said Easterly right -of -way line along said Northeasterly line the
following courses: North 40 °42'09" West 80.92 feet, and North 2 °49'59" West 3.63 feet to the
Point of Beginning.
Exhibit B
Scope of Development
21
EXHIBIT B
Scope of Development
I. General Description
The premises are delineated in Exhibit A.
II. Improvements
A. Definition of Improvements
The Tenant shall construct or cause to be constructed on the Premises all of Improvement
set forth in the Scope of Development as approved by the Planning Commission and /or
City Council, as applicable.
Improvements shall generally consist of the following:
1. Improvement of the Premises with a temporary auto storage facility for up to 314
vehicles pursuant to City of Tustin approvals through the Planning Commission
and /or Tustin City Council, as applicable.
2. Compliance with all "Conditions of Approval" stipulated by an applicable
government agency having jurisdiction, including but not limited to, the Planning
Commission and; or "Dustin City Council.
3. Compliance with all provisions of the lease.
B. Schedule of Performance
The Tenant shall commence and complete all improvements by the respective times
established therefore in the Schedule of Performance (Exhibit C).
II. Development Standards
Improvements are intended to accommodate overflow storage of vehicles from the auto
dealers in the Tustin Auto Center. The proposed project is a temporary facility and will
involve paving, security fencing and lighting installation.
There would be 149 parking stalls within the site. With tandem parking, these stalls
could hold up to 314 vehicles (see Exhibit B, Attachment 1, Site Plan).
An enclosure is proposed to secure the facility on all sides. In addition, each parking stall
would be enclosed by security fencing and a gate in front. The entrance security gate is
Exhibit B
Scope of Development
Page 2
proposed at the existing terminus of Myford Road that would secure vehicles beyond this
point. A turn around space for emergency vehicles would be provided by a 40 foot by 25
foot space at 150 feet from the proposed location of the security gate. Since the driveway
gate would be visible from El Camino Real, it will require installation of a decorative
wrought iron gate.
Storm runoff from the proposed temporary automobile storage area shall be directed to
existing public catch basins and /or to a system of proposed catch basin(s) and
underground storm drain pipes tributary to the El Modena- Irvine Channel.
All improvements shall conform to all applicable federal, state and county codes and
regulations. Tustin City Codes and conditions of City resolutions.
The Tenant acknowledges the responsibility to obtain any approvals required by any
governmental agency, utility or other agency, including the City which has jurisdiction
over all or any portion of the improvements. All "Conditions of Approval" stipulated by
an applicable jurisdiction shall be incorporated into the final design and noted in
construction documents by the architects. engineers, and other consultants. The Tenant
shall make all necessary applications by such time(s) as will be consistent with the timely
commencement and completion of various portions of the improvements by the
respective times established therefore by the Schedule of Performance (Exhibit Q.
IV. Chan.wes to Final Construction Drawings and Related Documents
If the Tenant desires to make any changes to final construction drawings and related
documents approved by the Community Development Department, Planning
Commission or City Council, the Tenant shall submit the proposed changes to the
Community Development Department and City Manager's office for approval. Such
changes shall be reviewed in the context of the purpose of the Lease and applicable
provisions of the City of Tustin Municipal Code and shall be approved or disapproved by
the City.
CAS:kd\rda \leases\Exhibit B Scope of Dev.doc
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Exhibit C
Schedule of Performance
1) 1)
EXHIBIT C
Schedule of Performance
Action
1.0 Execution of Acreement
1.1 Tenant provides Certificate of Insurance
required by Section 11 of Lease
1.2 City executes Lease
2.0 Bui_ ]dingy, /Grading Permits
2.1 Tenant submits plan check application and
plans for construction of Improvements to
Community Development Department
2.2 Tenant submits written estimate of
construction value of Improvements to Cit}
Manager's office for approval
2.3 Tenant obtains Permits
3.0 Construction of Improvements
3.1 Tenant commences construction
3.2 Tenant completes construction
3.3 Tenant submission of all lien releases for
construction of site improvements and
Notice of Completion
4.0 Surrender of Land
4.1 Tenant surrender of land
CAS:kd\rda \lc&%es\Gxhibit C Schedule of Pcrformance.doc
Timing
Prior to City execution of Lease.
Within 5 days following action by the City
Council on the Lease.
Within 30 calendar days following action by
the City Council on the lease.
Within 30 calendar days followinc action by
the City Council on the Lease and prior to
issuance of permits.
Within 7 working days following approval by
the Community Development Department of
Improvement plans and City Manager's office
review and approval of a performance bond
for construction of Improvements and
contractor indemnification required by
Section 6.7.2 of the Lease.
Within 30 working days following issuance of
permits and related approvals by City.
Within 90 calendar days following issuance
of permits and related approvals by the City.
Upon completion of site improvements and
following required 30 day filing Notice of
Completion.
On last day of term of Lease or upon earlier
termination provisions of Lease.