HomeMy WebLinkAbout88-027203
REL: adg-5a
4/5/88
RESOLUTION NO. 88-27
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 BGS PARTNERS
FOR THE SALE OF CERTAIN REAL PROPERTY IN
THE SOUTH MAIN STREET 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
South Main Street 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
BGS Partners, which is on file in the office of the Execu-
tive Director of the Agency, in which said real property
(hereinafter referred to as the "Site") is described; and
WHEREAS,
terms, conditions
local laws; and
the Agreement contains all the provisions,
and obligations required by state and
WHEREAS, BGS Partners 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
204
RESOLUTION NO. 88-27
PAGE TWO
WHEREAS, the City Council, by its Resolut~ion
No. 87-91, has certified an environmental impact report
the development of the Site; and
for
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 less than the fair
market value of the Site determined at the highest use permitted
under the Redevelopment Plan, but such lesser consideration is
necessary to effectuate the purposes of the Redevelopment Plan
for the reasons set forth in the Summary Report.
RESOLUTION NO. 88-2?
PAGE THREE
3. The sale of the Site by the Agency to BGS Partners
upon the terms and conditions contained in the Disposition and
Development Agreement is hereby approved.
ADOPTED this 19th day of April , 1988.
ATTEST ~
~.anice C. Guy / ~
Clerk of the Coun6il/
APPROVED AS TO FORM:
COUNCILMEMBERS:
Young A,¥e
McGuigan A,¥e
Acosta A,¥e
Griset Aye
Hart A_~__~
May
Pu 1 ldo aye