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RESOLUTIOrJ NO. 5152
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA AGREEING TO SELL THE PROPERTY LOCATED AT
THE SOUTHWEST CORNER OF FIFTH AVENUE AND HUNTINGTON
DRIVE FOR 586,500.00 AND TO SELL THE NORTHERN 50 FEET
OF THE NORTHEAST PORTION OF THE CITY MAINTENANCE YARD
(25 SOUTH FIFTH AVENUE) IN EXCHANGE FOR THE SOUTHERN
PORTION OF THE ARCADIA REDEVELOPMENT AGENCY-OWNED
PROPERTY AT 412 EAST HUNTINGTON DRIVE AND $lO,OOO.OO
TO THE ARCADIA REDEVELOPMENT AGENCY FOR PURPOSES OF
REDEVELOPI.1ENT
WHEREAS, on August 16, 1983, the City Council and the Arcadia Redevelop-
ment Agency authorized the sale of land to Larmor Development Company pursuant to
a Disposition and Development Agreement (DDA); and
WHEREAS, that DDA obligates the Redevelopment Agency to secure a 97,265
square foot site at the southwest corner of Fifth Avenue and Huntington Drive as
generally depicted in Exhibit One and to transfer said property to Larmor Develop-
ment Company; and
WHEREAS, the City of Arcadia holds title to two parcels of land planned
for inclusion in the above referenced development site (see Map and Legal Descrip-
tion, Parcels A and B, Exhibit 1); and
WHEREAS, the Arcadia Redevelopment Agency holds title to the parcel of
land commonly referred to as 412 East Huntington Drive (see Exhibit One, Parcel C);
and
WHEREAS, the Redevelopment Agency has had Parcels A, B, and C appraised
to determine their fair market value; and
WHEREAS, the City has reviewed the appraisals and has found that they do
reflect the fair market values of Parcels A, 8, and C; and
WHEREAS, the City desires to have the Larmor project developed in a
timely manner as per the DDA between the Redevelopment Agency and Larmor Develop-
ment Company.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE OF ARCADIA
AS FOLLOl/S:
1. That the City agrees to sell to the Arcadia Redevelopment Agency the
City-owned property on the southwest corner of Fifth Avenue and Huntington Drive
(also referred to as Parcel A in the attached Legal Description) in exchange for
$86,500.00 in cash.
Resolution No. 5152
2. That the City agrees to sell to the Arcadia Redevelopment Agency
the City-owned property known as the northern 50 feet of the northeast portion of
the City Maintenance Yard (also referred to as Parcel B in the attached Legal
Description) in exchange for the southern portion of the Agency-owned property at
412 East Huntington Drive (Round-Up Notel) referred to as Parcel C in the attached
Legal Description and $10,000.00 in cash.
3. That the City Manager or his authorized designee is directed to
execute all of the necessary documents to finalize the above transactions, subject
to the approval of same as to form by the City Attorney.
BE IT FURTHER RESOLVEO that the City Clerk shall certify to the adoption
of this resolution.
I HEREBY CERTIFY that the foregoing Resolution was adopted at a
meeti ng of the Arcadi a City Counci 1 held on the 6th day of December
by the affirmative vote of at least three City Councilmen, to wit:
regular
,l98L
AYES:
NOES:
ABSENT:
Councilman Dring, Hannah, Pellegrino, and Lojeski
None
Councilman Haltom
SIGNED AND APPROVED THIS ~ day of December
, 1983 .
ATTEST:
Lr12. '
r'layor of the Ci ty 0
City Clerk
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Resolution No. 5152
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LEGAL DESCRIPTIONS OF
PARCELS A, B, & C
Parcel A - 424 East Huntington Drive, Arcadia (corner):
That portion of Lot 9 of Tract 5205, in the City of Arcadia, as per map recorded
in book 54, page 61 of Maps, in the office of the County Recorder of said County,
described as follows:
Beginning at a point in the easterly line of said Lot, distant thereon south
00 02' 00" west, 40 feet from the northeast corner of said Lot; thence southerly
along the eastel"ly line of said Lot a distance of 36.00 feet; thence westerly
parallel with the northerly line of said Lot, a distance of 97.00 feet, more or
less, to the easterly line of the westerly 98.35 feet. measured along the northerly
line, of said Lot; thence northerly along said last mentioned easterly line 56.00
feet, to the southerly line of Huntington Drive, 100 feet wide; thence eaoterlY
along the south line of said Huntington Drive 77.00 feet; thence south 45 00.
east, 28.28 feet to the point of beginning.
Parcel B - 25 South Fifth Avenue, Northern Parcel, (City Yard):
The northerly 50 feet of that portion of Lot 9 of Tract No. 5205, in the City
of Arcadia, in the County of Los Angeles, State of California, as per map recorded
in book 54, page 61 of Maps, in the office of the County Recorder of said County,
described as follows:
Beginning ata pointin the easterly line of said Lot 9, distant southerly thereon
300 feet from the northeasterly corner of said Lot; thence southerly along said
easterly line lOO feet; thence westerly parallel with the northerly line of said
Lot 195.35 feet to the westerly line of said Lot 9; thence northerly along said
westerly line lOO feet to a point which bears westerly parallel with said northerly
line, from the pOint of beginning; thence easterly parallel with said northerly
line 195.35 feet to the point of beginning.
Parcel C - 412 East Huntinoton Drive (South Portion of the Round-Up Parcel):
Lot 8 of Tract No. 5205, in the City of Arcadia, County of Los Angeles, State of
California, as per map recorded in book 54, page 61 of Maps, in the office of
the County Recorder of said County; except that portion thereof lying southerly
of a line described as follows:
Beginning at a point in the easterly line of said Lot, distant northerly
thereon 271 feet from the intersection thereon with the northeasterly line of
the 25 foot strip of land described in the deed to the Atchison, Topeka and
Santa Fe Railway Company, recorded in book 17236, page 287, official records
of said County; thence westerly in a direct line to a point in the westerly line
of said Lot 8, distant northerly thereon 221 feet from the northeasterly line of
said 25 foot strip of land, except the northerly 350 feet thereof.
Exhibit One