HomeMy WebLinkAboutResolution - 3684 STATE OF CALIFORNIA ) RESOLUTION NO. 3684
COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY OF SAN JACINTO
APPROVING A LOAN AGREEMENT BETWEEN THE
MASON JAR BREWING COMPANY, LLC AND THE CITY
OF SAN JACINTO
WHEREAS, the City Council of the City of San Jacinto ("City") has established a
policy to actively pursue economic development opportunities for the purpose of
promoting the general health and welfare of the City, creating jobs, encouraging private
investment in the City, encouraging new commercial development, and improving
dining, entertainment and recreation options; and
WHEREAS, the City Council's economic development incentive policy
specifically provides for the use of economic development subsidies pursuant to
Govemment Code section 53083, including but not limited to the use of forgivable loans
for the purpose of stimulating economic development within the City; and
WHEREAS, the Mason Jar Brewing Company, LLC has requested an economic
development incentive in the form of a forgivable loan to assist in the acquisition of
tenant improvements and equipment in order to establish and operate the Mason Jar
Ranch Bistro and Brew Pub in the City of San Jacinto; and
WHEREAS, should it be approved, constructed, and become operational, the
Mason Jar Ranch Bistro and Brew Pub would be anticipated to generate at least
$30,000 annually in new sales tax revenue and create at least 20 new full and part-time
jobs in the City, and would result in other public benefits such as promoting the general
health and welfare of the City, encouraging private investment in the City, encouraging
new commercial development, and improving dining, entertainment and recreation
options; and
WHEREAS, the City Council desires to provide a loan in the amount of
$200,000, to be secured by the furniture, fixtures, and equipment of the business, which
will be reduced by 10% per year for each year in which the business continues to
operate to the satisfaction of the City; and
WHEREAS, pursuant to Government Code section 53083(a), the City has
prepared a publicly-available report providing information related to the proposed
economic development subsidy and posted the report on the City's website, a true and
correct copy of which is attached hereto as Exhibit A; and
WHEREAS, pursuant to Government Code section 53083(b), the City has
provided public notice and the City Council has held a public hearing regarding the
proposed economic development subsidy; and
WHEREAS, the approval of this economic development subsidy in no way
commits the City to approve, conditionally approve, or issue any entitlements relating to
the Mason Jar Ranch Bistro and Brew Pub, or any other project proposed or brought
forward by Mason Jar Brewing Company, LLC, and the City retains all discretion to
deny or condition approval of the Mason Jar Ranch Bistro and Brew Pub when and if
such approvals are before the City in the future; and
WHEREAS, in the event that the Mason Jar Ranch Bistro and Brew Pub are not
approved by the City, and outstanding loan funds will be immediately due and payable
to the City; and
WHEREAS, the City Council now desires to approve the economic development
subsidy and authorize execution of a loan agreement and related documents to
effectuate the transaction.
NOW, THEREFORE, BE IT RESOLVED, determined and ordered by the City
Council of the City of San Jacinto as follows:
Section 1. Recitals. The City Council finds that the above recitals are true and
correct and are incorporated into this Resolution as though fully set forth herein.
Section 2. Findings. The City Council finds that there are public purposes for
granting the economic development subsidy as set forth in the Economic Development
Subsidy Report.
Section 3. Approval of Loan. The City hereby approves the loan to Mason Jar
Brewing Company, LLC in the amount of $200,000.00, to be secured by the furniture,
fixtures, and equipment of the business, which amount will be reduced by 10% per year
for each year in which the business continues to operate to the satisfaction of the City.
Section 4. Authorization. The Agency Board hereby authorizes the City
Manager to execute the Loan Agreement in substantially the same form as attached
hereto as Exhibit B and any other related documents on behalf of the City, following
approval as to form thereof by the City Attorney, and subject to any minor changes as
may be approved by the City Manager and City Attorney.
Section 5. Certification. The City Clerk shall certify the adoption of this
Resolution.
Section 6. Effective Date. This Resolution shall become effective upon its
adoption.
PASSED, APPROVED AND ADOPTED by the City Council of the Cit of San
Jacinto, California, at a special meeting of the City Council held on the 19 day of
December 2017, by the following vote:
AYES: Kotyuk, Ledezma, Ruiz, Miller
NAYS: None
ABSENT: Utz
ABSTAIN: None
City of San Jacinto
4
Crystal uiz, Mayor
ATTEST:
-A(
g Iton, City Clerk
APPROVED AS TO FORM:
BEST BEST & KRIEGER LLP
//// A
Michael J. Maurer, City Attorney
CERTIFICATION
I, Angela Walton, City Clerk of the City of San Jacinto do hereby certify that the
foregoing Resolution No. 3684 was duly passed, and adopted at a regular meeting of
the City Council of the City of San Jacinto held on the 19th day of December, 2017, by
the following vote:
Ayes: Kotyuk, Ledezma, Ruiz, Miller
Nays: None
Absent: Utz
Abstain: None
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND AND THE Official Seal
of the City of San Jacinto this 19'h day of December, 2017.
n el Walton, City Clerk