Laserfiche WebLink
2 <br />G.Accordingly, in furtherance of its wind-down of the Former Agency’s <br />affairs, the Successor Agency desires to transfer the Properties to the <br />City pursuant to HSC section 34181(a). <br />H.The City and the Successor Agency have reviewed the fair market <br />value of the Properties, as aggregated, and have concluded that the <br />value of such Properties are consistent with the purchase price as set <br />forth in the draft “Purchase and Sale Agreement” in the form submitted <br />to the City and the Successor Agency concurrently herewith (the <br />“Agreement”). <br />I.The fair market value and purchase price was established as $598,000 <br />by an appraisal conducted on April 29, 2022. <br />J.A joint public hearing of the Successor Agency and City Council on the <br />proposed Agreement was duly noticed in accordance with HSC <br />sections 33431. <br />K.On September 6, 2022, the governing board of the Successor Agency <br />and the City Council held a joint public hearing on the proposed <br />Agreement, at which time the City Council and the Successor Agency <br />reviewed and evaluated all of the information, testimony, and evidence <br />presented during the joint public hearing. <br />L.All actions required by all applicable law with respect to the proposed <br />Agreement have been taken in an appropriate and timely manner. <br />M.The Successor Agency has reviewed the staff report in connection with <br />this matter and has evaluated other information provided to it <br />pertaining to the findings proposed to be made hereunder. <br />N.The Successor Agency has considered all of the terms and conditions <br />of the proposed Agreement and believes that the sale of the Properties <br />pursuant to the Agreement complies with the Oversight Board’s <br />direction to dispose of all assets and properties of the Former Agency <br />pursuant to HSC section 34181(a), and in accord with the public <br />purposes and provisions of applicable State and local laws and <br />requirements. <br />Section 2. The Successor Agency hereby finds and determines that the <br />disposition by sale of the Properties by the Successor Agency to the City pursuant to <br />the Agreement will further the achievement of the Successor Agency’s purpose of <br />winding down the Former Agency’s affairs in compliance with the Oversight Board’s <br />direction to dispose of all assets and properties of the Former Agency pursuant to HSC <br />section 34181(a).