Attachment No. 1
RESOLUTION NO. 25-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NORWALK
APPROVING THE FIRST AMENDMENT TO THE EXCHANGE
AGREEMENT BY AND BETWEEN THE CITY OF NORWALK AND
FIRESTONE LOFTS, LP
WHEREAS, the City of Norwalk, California (“City”) is the fee simple owner of two parcels measuring approximately 0.57 acres identified as Assessor’s Parcel Numbers 8056-015-901 and 8056-015-900 and located at 12124 Firestone Boulevard in the City of Norwalk, County of Los Angeles (“City Property”); and
WHEREAS, Firestone Lofts, LP (“Developer”), a California limited partnership, is the fee simple owner of two parcels measuring approximately 0.65 acres identified as Assessor’s Parcel Numbers 8056-015-014 and 8056-015-016 and located at 13400 San Antonio Drive in the City of Norwalk, County of Los Angeles (“San Antonio Property”); and
WHEREAS, City and Developer entered into an Exchange Agreement and Joint Escrow Instructions dated [DATE] between City and Developer (“Exchange Agreement”) wherein the City and Developer agreed to exchange the City Property for the San Antonio Property; and
WHEREAS, the San Antonio Property are necessary for the City’s use for the development of a larger, new public parking lot that will service nearby commercial, residential, and recreational uses;
WHEREAS, Developer intends to develop a residential project on the City Property; and
WHEREAS, the exchange of the City Property and San Antonio Property is necessary for the City to acquire and redevelop the larger San Antonio Property into a new public parking lot that will eliminate blight through redevelopment of the San Antonio Property, which are blighted, vacant, and underutilized corner commercial property; and WHEREAS, the City and Developer to amend the Exchange Agreement pursuant to the terms of the First Amendment.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF NORWALK HEREBY DETERMINES, FINDS, AND RESOLVES AS FOLLOWS:
SECTION 1.The facts set forth in the Recitals, above, are true and correct.
SECTION 2.The City Council finds and determines that the First Amendment to the Exchange Agreement is exempt from the California Environmental Quality Act (“CEQA”) pursuant to (i) CEQA Guidelines Section 15061(b)(3) – Common Sense Resolution No. 25-13 Page 2 of 2
Exemption in that it can be seen with certainty that there is no possibility that the approval of the First Amendment to the Exchange Agreement may have a significant effect on the environment None of the exceptions to the Categorical Exemptions under CEQA Guidelines Section 15300.2 apply.
SECTION 3. The City Council hereby approves the First Amendment to the Exchange Agreement by and between the City and Developer and authorizes the City Manager to execute and cause to be recorded First Amendment and any other ancillary documents, in a form approved by the City Attorney, that are reasonably necessary to effectuate the intent of this Resolution.
SECTION 4.The City Clerk shall certify the adoption of this Resolution and it shall go into effect immediately upon its adoption.
APPROVED AND ADOPTED on this 1st day of April 2025.
____________________________
TONY AYALA
MAYOR
ATTEST:
_______________________________
THERESA DEVOY, CMC
CITY CLERK