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HomeMy WebLinkAbout85-104REL: adg 8/6/85 RESOLUTION NO. 85-104 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 TEE CITY OF SANTA ANA PURSUANT TO A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND CARLEY CAPITAL GROUP 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 Carley Capital Group, 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, Carley Capital Group 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. 85-104 PAGE TWO WHEREAS, the Agency has found and determined that the Environmental Impact Report prepared for the Santa Ana Redevelopment Project is adequate for approval of the Disposi- tion and Development Agreement and that no additional Environ- mental Impact Report is necessary, and this Council likewise believes said Environmental Impact Report to be adequate for its use in approving the terms and conditions of sale of the Site; and 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. RESOLUTION NO. 85-104 PAGE THREE 3. The sale of the Site by the Agency to Carley Capital Group upon the terms and conditions contained in the Participation Agreement is hereby approved. ADOPTED this 20th day of Au§ust , 1985. ATTEST: ~/~C l~en ir~e o~ ' t~e~Y~o~n ~ Daniel E. Griset Mayor COUNCILMEMBERS: Griset A e APPROVED AS TO FORM: Acosta ay~--ee Hart ~ye ~ Johnson -~ye Luxembourger -~ye ~r McGuigan -A-~t City Att~meg" Young -~ye