HomeMy WebLinkAbout86-061REL: adg-9
06/05/86
RESOLUTION NO. 86-61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA MAKING CERTAIN FINDINGS WITH
RESPECT TO THE CONSIDERATION TO BE RECEIVED
BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF SANTA ANA PURSUANT TO A DISPOSITION
AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA
AND URBAN VENTURES CORPORATION AND MC MAHAN'S
FURNITURE ASSOCIATES FOR THE SALE OF CERTAIN
REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT
PROJECT AND APPROVING THE SALE OF SAID REAL
PROPERTY UPON THE TERMS AND CONDITIONS CONTAINED
IN THAT AGREEMENT
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana is engaged in activities necessary to ex-
ecute and implement the Redevelopment Plan for the Santa Ana
Redevelopment Project; and
WHEREAS, in order to implement the Redevelopment
Plan, the Agency has agreed, subject to the approval of this
Council, to sell certain real property in the Project Area,
pursuant to the terms and provisions of that certain Dis-
position and Development Agreement between the Agency and
Urban Ventures Corporation, and McMahan's Furniture Associates,
which is on file in the office of the Executive Director of
the Agency, in which said real property (hereinafter referred
to as the "Site") is described; and
WHEREAS, the Agreement contains all the provisions,
terms, conditions and obligations required by state and
local laws; and
WHEREAS, Urban Ventures Corporation possesses~
the qualifications and financial resources necessary to acquire
and insure development of the Site, in accordance with the
purposes and objectives of the Redevelopment Plan; and
WHEREAS, the Agency has prepared, and the City
Council has reviewed and considered a Summary Report setting
forth the cost of the Agreement to the Agency, the estimated
value of the interests to be conveyed determined at the
highest uses permitted under the Redevelopment Plan and the
purchase price, and has made said Summary Report available for
public inspection in accordance with the California Community
Redevelopment Law; and
RESOLUTION NO. 86-61
PAGE TWO
WHEREAS, pursuant to the provisions of the California
Redevelopment Law, the Agency and the City Council have held a
duly noticed joint public hearing on the proposed sale of the
Site and the proposed Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF SANTA ANA, AS FOLLOWS:
1. The City Council has considered all terms and con-
ditions of the proposed sale and hereby finds and determines
that the sale and the redevelopment of the Site pursuant to
the Disposition and Development Agreement is the best interests
of the City and the health, safety and welfare of its residents,
and is in accord with the public purposes and provisions of
the applicable state and local laws.
2. The City Council hereby finds and determines that
the consideration for the sale of the Site pursuant to the
Disposition and Development Agreement is not less than the fair
market value of the Site in accordance with covenants and
conditions governing such sale; and that, although said
consideration is less than the estimated value of the Site
determined at the highest use permitted under the Redevelop-
ment Plan, such lesser consideration is necessary to effec-
tuate the purposes of the Redevelopment Plan.
3. The sale of the Site by the Agency to Urban Ventures
Corporation upon the terms and conditions contained in the
Disposition and Development Agreement is hereby approved.
ADOPTED this
ATTEST:
~_Wnice C. Guy / ('7
Clerk of the Councl~l
17th day of
Daniel E. Griset
Mayor
COUNCILMEMBERS:
Griset Absent
Acosta Aye
Hart Absent
Johnson ~ye
Luxembourger Aye
McQuigan Aye
Young Aye
_A~O FO RM .'
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