20051213 R-05-69RESOLUTION NO. R-05-69
A RESOLUTION AUTHORIZING (I) THE EXECUTION AND RECORDATION OF A
DEED OF CONSOLIDATION, DEDICATION, EASEMENTS AND VACATION WITH
REGARD TO THE LOGAN-SIPAN PROPERTY; (II) THE EXECUTION AND
DELIVERY OF A DEED CONVEYING THE CITY-OWNED PORTION OF THE
LOGAN-SIPAN PROPERTY TO CH REALTY III/OLD TOWN VILLAGE, L.L.C., OR
TO ANY OR ALL OF THE OTHER DEVELOPER ENTITIES; (III) THE APPROVAL
OF AN INVESTOR ENTITY AND AN ASSIGNEE UNDER THE OLD TOWN FAIRFAX
REDEVELOPMENT DOCUMENTS; AND (IV) THE EXECUTION AND DELIVERY
OF ALL NECESSARY DOCUMENTATION WITH REGARD TO CLOSING OF THE
SALE OF THE CITY-OWNED PORTION OF THE LOGAN-SIPAN PROPERTY TO CH
REALTY III/OLD TOWN VILLAGE, L.L.C. OR TO ANY OR ALL OF THE OTHER
DEVELOPER ENTITIES
BE IT RESOLVED, that the City Council of the City of Fairfax, Virginia authorizes the
execution by the Mayor of the City of Fairfax, and the recordation of a Deed of Consolidation,
Dedication, Easements and Vacation with regard to the Logan-Sipan Tract, in the form attached
to this Resolution, subject to any modifications approved by the City Attorney; and
BE IT FURTHER RESOLVED, that the City Council of the City of Fairfax, Virginia
authorizes the execution, by the Mayor of the City of Fairfax, and delivery of a Deed
substantially in the form attached to this Resolution, conveying the City-owned portion of the
Logan-Sipan Tract to CH Realty III/Old Town Village, L.L.C., or to any one or more of the other
Developer entities (Old Town Fairfax Village, LLC, TC MidAtlantic Development, Inc., Walnut
Street Development Company and/or J. Donegan Company), subject to any modifications
approved by the City Attorney; and
BE IT FURTHER RESOLVED, that the City Council of the City of Fairfax, Virginia, in
accordance with the provisions of the General Development Agreement dated April 21, 2004, as
amended, hereby approves Merrill Lynch Capital as a financing source (investor) for the
redevelopment project and, further, approves CH Realty III/Old Town Village, L.L.C. as an
equity investor and as an assignee of the redevelopment documents; and
BE IT FURTHER RESOLVED, that the City Manager is hereby authorized and directed to
execute and deliver, with the approval of the City Attorney, any necessary documentation,
including but not limited to deeds, affidavits, certificates, and settlement statements, in
connection with the closing of the transaction and the sale of the City-owned portion of the
Logan-Sipan Tract to CH Realty III/Old Town Village, L.L.C. or to any one or more of the other
listed Developer entities (Old Town Fairfax Village, LLC, TC MidAtlantic Development, Inc.,
Walnut Street Development Company and/or J. Donegan Company).
Adopted this ~] St'day of December 2005.
ATTEST:
City Clerk
x~V~ayor .... ~
J. Cross
J. Greenfield
G. Lyon
G. Rasmussen
S. Silverthome
P.Winter
Vote