75A - SALE OF 1633 E. SIXTH ST. - Laserfiche WebLink

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G. The Agency proposes to sell the Property, at an affordable housing price, to Carlos Morales and Ana Viera, qualified buyers. The Amended Agreement Containing Covenants will be recorded against the Property establishing a forty-five year term of affordability. H. The Agency has duly considered all of the terms and conditions of the proposed sale, and believes that the proposed sale is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purpose and provisions of applicable state and local laws and requirements. I. The City and Agency held a public hearing on the proposed Project and the Agreement as required for the sale of Agency owned property by Section 33433 of the Community Redevelopment Law, after having duly provided notice of such public hearing in accordance with state law. J. The proposed sale of the Property is exempt from further review and in accordance with the California Environmental Quality Act, categorical exemption ER No. 2004-233 will be filed for this project. K. The City recognizes that it has received and heard all oral and written objections to the proposed sale, and to other matters pertaining to this transactions, and that all such oral and written objections are hereby overruled. L. The City hereby finds and determines that the information set forth herein is true and correct. M. The City hereby finds and determines that the sale of the Property will provide housing for a low-income household. N. The City hereby finds that the consideration the Agency will receive for the sale of the Property is not less than the fair reuse value given the use and with the covenants and restrictions authorized by the sale and recorded against the Property. O. The City hereby approves the sale of the Property. Section 2. The Executive Director of the Community Development Agency or his/her designee ("Executive Director") is hereby authorized, on behalf of the City, to execute such documents that are to be signed by the City in connection with the sale, and to make such changes of a non-substantive nature to such documents as the Executive Director shall deem appropriate. A copy of any such documents, when executed, shall be placed on file in the office of the Secretary of the Agency. Section 3. The Executive Director is hereby authorized, on behalf of the City, to sign all documents necessary and appropriate to carry out and implement the sale and to administer the Agency's obligations, responsibilities and duties to be performed. Section 4. The Clerk of the Council shall attest to and certify the vote adopting this Resolution. 75A-6