HomeMy WebLinkAboutResolutions - No. 2007-146RESOLUTION NO. 2007-146
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE A DOWNTOWN HOTEL EXCLUSIVE
EXPLORATION PERIOD AGREEMENT WITH RUSS MUNSON
WHEREAS, in 1998, Gruen & Gruen Associates prepared a report on strategies for
enhancing Downtown and recommended three Downtown anchors: 1) "state-of-the-art multiplex
with stadium seats"; 2) wine -related outlets and restaurants; and 3) a Downtown hotel; and
WHEREAS, in November 2005, the City engaged the services of PKF to evaluate the
demand for a Downtown hotel. It studied the possibility of developing a hotel upon the former
Public Safety building site and concluded a Downtown hotel with some subsidy was feasible..
The Council was interested in the concept of a Downtown hotel, but not at the old Public Safety
building site, and requested that interest from the development community be solicited for a
hotel on other City -owned Downtown property; and
WHEREAS, Russ Munson of Wine and Roses has expressed a desire to enter Into an
exclusive exploration period to test the feasibility of the development of a Downtown hotel and is
requesting time to develop a business plan and seek interest from investors; and
WHEREAS, the City agrees that it will not sell or lease any of its property in Downtown
Lodi for nine months, The Developer will deposit $5,000 with the City and enter into a feasibility
study period to see if a Downtown hotel is viable. At the end of nine months, the Developer can
request the City enter into good faith negotiations to secure the sale or lease of a possible site
for an additional three months; however, the City is not obligated to enter into an agreement to
sell or lease. If the Developer wishes to enter into negotiations, an additional $3,000 deposit is
required.
NOW, THEREFORE, BE IT RESOLVED that
authorize the City Manager to execute a Downtown
agreement wiffii-RU9 Anson; as e e
Dated: July 18, 2007
the Lodi City Council does hereby
Hotel Exclusive Exploration Period
hereby certify that Resolution No. 2007-146 was passed and adopted by the Lodi City
Council in a regular meeting held July 18, 2007, by the following vote:
AYES: COUNCIL MEMBERS — Hansen, Katzakian, Mounce, and
Mayor Johnson
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — Hitchcock
ABSTAIN: COUNCIL MEMBERS — No
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JOHL
City Clerk
2007-146