R-07-47
RESOLUTION NO. R-07-47
RESOLUTION AlVIENDING A PRIOR RESOLUTION ADOPTED lVIAY
25. 2004. AS PREVIOUSLY AlVIENDED ON JVlARCH 13. 2007. TO
APPROVE THE DETAILS OF LEASE FINANCING FOR OPEN
SPACE. PARKS. RECREATION AND HISTORIC PRESERVATION
PURPOSES AND TO AUTHORIZE THE EXECUTION AND
DELIVERY OF RELATED DOCUJVlENTS
,,",HEREAS. J'V1ay 25, 2004, the City Council (the ""Council") or the City or Fairrax,
Virginia (the "City"")" adopted a resolution to authorize a financing for the acquisition"
construction, renovation, improvement and equipping, as applicable, of one or more of the
rollovving projects (the ""J'V1ay 2004 Resolution"): (a) the properties located at (i) 10735 VVest
Drive (referred to as the Jester Property), (ii) 10090 - 10120 Lee HighVv'"uy (referred to as the
Stafford Property), (iii) 9910 Barbara Ar1ne Lane, 9990 l\I1c>sby Road.. and 4143 Evergreen
Drive (collectively, referred to as the Grefe Property), (iv) 9817 Ashby Road (referred to as
the Ashby Road Property), (v) 10421-25 North Street (rererred to as the VVeight VVatchers
Property), and (vi) 10610 J'V1oore Street (referred to as the Ratcliffe Cemetery), all located
V\7ithin the City limits, for the purposes of open space preservation, parks UI1d recreation". and
(b) the property located at 3610 Old Lee Highvvay (rererred to as the Blenheim Property),
located V\1"ithin the City limits, for the purposes of historic preservation and a ne",," museum~ all
in the aggregate amount of $15~OOO~OOO (collectively~ such real property to be referred to
herein as the ""Property~" and such projects to be referred to herein as the ""Original Projects~");
VVI-IER.EAS!O on :rv1:arch 13, 2007~ the Council amended the :rv1:ay 2004 Resolution (the
"":rv1:arch 2007 Resolution"~) to finance the acquisition, construction and equipping of additional
projects, such projects to include the construction of ball fields at Providence Park~
Providence ElemeTltary~ "\."\Testmore Elementary and Green Acres Elementary Schools and on
the Starford Property in the aggregate principal amount or $5,800,000 (the ""Ball Field
Prc>jects"~);
VVI-IER.EAS!O to accomplish the financing of the Original Projects and the Ball Field
Projects~ the City (a) conveyed to SunTrust Bank (the ""Ban..k~") a leasehold interest in the
Property pursuant to the terms of a Ground Lease dated as of July 26, 2004, as amended by a
First Amendment to Ground Lease dated as of August 27, 2004, a Second Amendment to
Ground Lease dated as of ~ovember 10, 2004, and a Third Amendment to Ground Lease
dated as or August 15, 2005 (collectively, the ""Ground Lease--), and (b) the Bank leased the
Property back to the City in return for the payments of basic rent (""Basic Rent~~) pursuant to
the terms of a Financing Lease Agreement dated as of July 26, 2004, as amended by a First
Amendment to Financing Lease Agreement dated as of August 27~ 2004, a Second
Amendment to Financing Lease Agreement dated as of ~ovember 20, 2004, a Third
Amendment to Financing Lease Agreement dated as of August 15, 2005, and a Fourth
Amendment to Financing Lease Agreement dated as of l'v1arch 27 ~ 2007 (collectively, the
""Financing Lease~~); and
VVI-IEREAS!O the Council desires to amend the lVIarch 2007 Resolution to add to the
listing of the Ball Field Projects the construction of ball fields at Draper Drive Park;
VVI-IER.EAS!O there has been presented at this meeting a draft Fifth Amendment to
Financing Lease Agreement (the ""Fifth Amendment"~)~ pursuant to ,-,,"hich the description of
the Ball Field Projects shall be modified;
NO""'. THEREFORE. BE IT RESOLVED BY CITY COUNCIL OF THE CITY
OF FAIRFAX. VIRGINIA:
1. The Council approves amending the l\/larch 2007 Resolution to modify the
description oT the Ball Field Projects to add to the listing of the Ball Field Projects the
construction ofball fields at Draper Drive Park.
2. The :rv1:ayor and the City lVIanager, either of """hom may act, are authorized and
directed to execute the Fifth AmeT1dment~ the form of """hich submitted to this meeting is
hereby approved, """ith such completions, omissioT1s~ insertions and changes not inconsistent
"""ith this resolution as may be approved by the officer executing the Fifth Amendment~ such
execution to constitute conclusive evidence of his approval of any such completions,
omissions, insertions and changes.
3. Such officers of the City as requested by the City Manager are authorized and
directed to execute and deliver all certificates and instruments and to take all actions
necessary or desirable in connection with the execution and delivery of the Fifth Amendment.
4. Except as amended by the terms of this resolution, the Amended Resolution is
hereby ratified and affirmed.
5. This resolution shall take effect immediately.
Introduced: October 23,2007
Adopted: November 13, 2007
8~~,
Mayor
ATTEST:
VJt~~
City Clerk
The vote on the motion to approve was recorded as follows:
VOTE:
Councilwoman Cross Aye
Councilman Greenfield Aye
Councilwoman Lyon Aye
Councilman Rasmussen Aye
Councilman Silverthorne Aye
Councilmember Winter Aye
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