mspa managment agmt 5th amendment 2023-2028.pdf
MANAGEMENT AGREEMENT:
MONTROSE SHOPPING PARK BUSINESS IMPROVEMENT DISTRICT
AMENDMENT NO. 5
This Amendment No. 5 to the Management Agreement for the Montrose Shopping Park Association (the “Agreement”) by and between the CITY OF GLENDALE, a municipal corporation, hereinafter referred to as the (“City”), and the MONTROSE SHOPPING PARK ASSOCIATION, a California nonprofit association, hereinafter referred to as the (“Association”), is effective as of January 1, 2024 (“Effective Date”).
WHEREAS, on August 13, 1968, the City adopted Ordinance No. 3812 (“Ordinance”) establishing the Business Improvement Area known as the Montrose Shopping Park Business Improvement District (“District”). The Ordinance establishing the District became effective on September 12, 1968; and
WHEREAS, pursuant to the Ordinance, as the same has been amended from time to time, on October 31, 2000, the City entered into a five (5) year Agreement with the Association to administer the assessments collected from District businesses for the purpose of promoting events for retail sales activities and to increase business in the District; and WHEREAS, on December 2, 2005, the City and Association executed the first amendment to the Agreement in order to extend the Agreement through December 31, 2010, and WHEREAS, on November 30, 2010, the City and Association executed the second amendment to the Agreement in order to extend the Agreement through December 31, 2015; and WHEREAS, on January 12, 2016, the City approved a motion extending the Agreement for an additional three (3) years from January 1, 2016 through December 31, 2018; and WHEREAS, on December 18, 2018, the City approved a motion extending the Agreement for an additional five (5) years from January 1, 2019 through December 31, 2023; and WHEREAS, on December 18, 2018, the City approved a motion extending the Agreement for an additional five (5) years from January 1, 2019 through December 31, 2023; and WHEREAS, on December ____, 2023, the City approved a motion extending the Agreement for an additional five (5) years from January 1, 2023 through December 31, 2028; and NOW, THEREFORE, the parties agree as follows:
1. Section 10 of the Agreement is hereby amended to read as follows:
mspa managment agmt 5th amendment 2023-2028.pdf
“10. The term of this Agreement is five (5) years commencing on January 1, 2023 and ending on December 31, 2028, however the Agreement may be terminated by either parting giving ninety (90) days’ notice thereof, provided that if the City has advanced funds to the Association for a portion of a year for an approved work program that has not been completed, the Association may not terminate the Agreement until it returns that portion of that year’s budget not yet expended. If the termination notice is given by the City to the Association, the Association must within ninety (90) days return to the City the balance of any funds advanced by the City for that year which have not been legally expended for the program of that year.”
2. All other provisions, requirements, terms and conditions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, CITY and MONTROSE SHOPPING PARK ASSOCIATION have caused this Amendment No. 5 to the Agreement to be executed by their duly authorized representatives as follows:
CITY
By
Roubik Golanian, City Manager Date
APPROVED AS TO FORM
Michael J. Garcia, City Attorney
By:
Gillian van Muyden, Date
Chief Assistant City Attorney
MONTROSE SHOPPING PARK ASSOCIATION
By
President Date
By
Treasurer Date
mspa managment agmt 5th amendment 2023-2028.pdf