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RESOLUTION NO. 86-~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA APPROVING AN AMENDMENT TO A LEASE, OPTION
AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND
COMMONWEALTH VOLKSWAGEN CORPORATION.
WHEREAS, the Community Redevelopment Agency of the City of
Santa Ana entered into a Lease, Option and Development~Agreement
with Commonwealth Volkswagen Corporation on December 18, 1984
(the "Agreement"), which provides for the lease and/or sale of
Parcel 9 in the Santa~Ana Auto Mall by the Agency to Commonwealth
Volkswagen Corporation; and
WHEREAS, this Council approved the Agreement on December
18, 1984 by its Resolution No. 84-167; and
WHEREAS, the Agency has this date approved an amendment
the Agreement which reduces the total rental amount and/or
purchase price which the Agency will receive pursuant to the
Agreement;
to
NOW, THEREFORE, BT IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SANTA ANA AS FOLLOWS:
1. That certain "Amendment to Lease, Option and Development
Agreement" between the Agency and Commonwealth Volkswagen
Corporation", approved this dated by the Agency, is hereby
approved by this Council.
2. This Council finds and determines that the consideration
for the lease and/or sale of the aforesaid Parcel 9 pursuant to
the Agreement as thus amended is less that the estimated value
of said parcel, determined at the highest use permitted under
the Redevelopment Plan for the Santa Ana South Main Street
Redevelopment Project, but such lesser consideration is necessary
to effectuate the purposes of said plan.
168
RESOLUTION NO. 86-~
PAGE TWO
ADOPTED this 20th day of May , 1986.
ATTEST:
Janice C. Guy
Clerk of the Council
COUNCILMEMBERS:
Acosta Aye
Griset --~ye
Hart Aye
Johnson Aye
Luxembourger Absent
McGuigan --~ye
Young
Daniel E. Griset, Mayor
APPROVED AS TO FORM: