HomeMy WebLinkAbout85-147 Not AdoptedREL: -9
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RESOLUTION NO. 85-
A RESOLUTION OF THE CITY COUNCIL
OF SANTA ANA MAKING CERTAIN
RESPECT TO THE CONSIDERATION TO BE
BY THE COMMUNITY REDEVELOPMENT
CITY OF SANTA ANA PURSUANT TO
AMD DEVELOPMENT AGREEMENT BET%
REDEVELOPMENT AGENCY OF THE
AND URBAN VENTURES CORPORATIO
FURNITURE ASSOCIATES FOR TI
REAL PROPERTY IN THE SANTA
PROJECT AND APPROVING THE E
PROPERTY UPON THE TERMS AN
TAINED IN THAT AGREEME~
CITY
]CEIVED
OF THE
THE COMMUNITY
OF SANTA ANA
McMAHONS
OF CERTAIN
REDEVELOPMENT
OF SAID REAL
CONDITIONS CON-
WHEREAS, the Communi~
City of Santa Ana is engaged i!
ecute and implement the
Redevelopment Project; and
edevelopment Agency of the
~ctivities necessary to ex-
opment Plan for the Santa Ana
WHEREAS,
Plan, the Agency has
Council, to sell
pursuant to the term
position and l
Urban Ventures Co
which is on file
of the Agency, in
referred to as th
in ~ to implement the Redevelopment
~d, subject to the approval of this
real property in the Project Area,
provisions of that certain Dis-
nt Agreement between the Agency and
ration and McMahon's Furniture Associates,
the office of the Executive Director
lich said real property (hereinafter
"Sit~') is described; and
/
WHER~A~, the Agreement contains all the provisions,
terms, condi~ns and obligations required by state and
local laws~ ,
W~EREAS, Urban Ventures Corporation possesses the
qualificait~ns and financial resources necessary to acquire
and insure/development of the Site, in accordance with the
purposes~nd objectives of the Redevelopment Plan; and
/
/ WHERE~S, the Agency has prepared, and the City
Counci~ has reviewed and considered a Summary Report setting
forth~he cost of the Amended Agreement to the Agency, the
estin~ted value of the interests to be conveyed determined at
the ~ighest uses permitted under the Redevelopment Plan and the
pu~as? price~ and has made said Summary Report available for
public inspection in accordance with the California Community
Redevelopment Law; and
· .~OLUTION NO. 85- 147
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 DisDosi-
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 Agreemen~ 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- 147
PAGE THREE
3. The sale of the Site by the Agency to Urban Ventures
Corporation upon the terms and conditions contained in the Dis-
position and Development Agreement is hereby approved.
ADOPTED this __ day of , 1985.
ATTEST:
Janice C. Guy
Clerk of the Council
Daniel E. Griset
Mayor
COUNCILMEMBERS:
Griset
Acosta
Hart
Johnson
Luxembourger
McQuigan
Young
APPROVED AS TO FORM:
Edward ~.-(Coo~er
City Attorney'