HomeMy WebLinkAbout5204
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2,154-5/0011a/k1
11/29/84
185,000 square feet of retail department store
RESOLUTION NO. 520t
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, APPROVING THE SALE,
DISPOSITION AND DEVELOPMENT OF CERTAIN PROPERTY
LOCATED IN THE CENTRAL REDEVELOPMENT PROJECT
PURSUANT TO THE TE~lS OF A DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND BETWEEN THE ARCADIA
DEVELOPMENT AGENCY AND DEAN A. BECK AND
OCIATES, AND MAKING CERTAIN FINDINGS HI
RDANCE WITH HEALTH AND SAFETY CODE
ON 33433
the City Council of the City of Arcadia,
California (the
has approved and adopted the
R~development Project, as amended
(the "Redevelopment Plan' ;
WHEREAS,
the
Plan
provides
for
the
participation in the
property- located within the
Central Redevelopment Project by
WHEREAS, Dean A.
Beck
a California
corporation (the "Developer"),
the Arcadia
Redevelopment Agency (the "Agency") a
acquire certain
property located near the northeast
the intersection of
Huntington Drive and Second Avenue
Redevelopment
Project (the "Property") and to construct
approximately
anciliary retail
commercial bui 1d ings. appurtenant improvements,
and
vehicle parking facilities (the "Project"); and
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WHEREAS, the acquis it ion of the Property by the Deve loper
from the Agency and redevelopment of the Project by the Developer
pursuant to the terms ,of a certain Disposition and Development
Agreement by and between the Agency and Developer (the "Agreement"),
as attached hereto as Exhibit "A" and incorporated herein and by
this reference, shall further the objectives of the Agency and the
City and implement the Redevelopment Plan; and
WHEREAS. the Agency has caused to be duly published a
notice of a public hearing concerning the approval by the Agency of
the sale of the Property to the Developer pursuant: to the terms of
said Agreement and certain appropriate action by the City Council in
accordance wi th the provi s ions of Hea 1 th and Safety Code
Section 33433; and
WHEREAS. the Agency has prepared a certain report (the
"Report") which summarizes the terms of the proposed sale of the
Property by the Agency to the Developer and a copy of said Report is
on file with the City Clerk; and
WHEREAS. the Agency and the City Council have heretofore
taken certain other appropriate actions regarding the Project In
accordance with the provisions of the California Environmental
Quality Act of 1970. as amended; and
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WHEREAS. the Agency has requested the City Council to take
certain appropriate action concerning the approval of the Project:
and the Agreement in accordance with the prov1 s lons of Health and
Safety Code Section 33433.
NOW THEREFORE BE IT RESOLVED, DETE~lINED fu~D ORDERED BY THE
CITY COUNCIL OF THE CITY OF ARCADIA. CALIFORNIA. AS FOLLOWS:
Section 1,
are true and correct.
The facts descr ibed in the rec i tal s hereof
Section 2. The Agency hereby accepts and approves the
Report which summarizes the terms of the sale of the Property by the
Agency to the Developer which 1S incorporated herein by this
reference,
Secdon 3. The City Counci 1 has conducted a full and
fair public hearing regarding the sale of the Property by the Agency
to the Developer In accordance with the terms and provisions of the
Agreement. The City Counc i 1 has cons idered all oral and wr i tten
comments. including the Report and the Agency Staff Report as
submitted to the City Council during said public hearing held on
this date for the sale of the Property by the Agency to the
Developer for the total consideration as more fully described 1n
said .u.greement,
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Section 4. The City Council hereby finds and
determines, based upon the Report, and the real estate appraisal
information contained therein, that the consideration to be paid to
the Agency by the Developer for the acquisition of the Property ln
accordance with the terms and provisions of the Agreement is the
fair market value of the Property. Not',.;ithstanding the foregoing,
the City Council hereby acknowledges that the total fair market
value acquisition cost to the Agency for the necessary assembly of
the various parcels of the real property to be hereafter included ln
the parcel map describing the Property exceeds the fair market value
disposition sale price by the Agency to the Developer of said
parcels of land so described ln said parcel map as said fair market
value has been determined in accordance with the reuse appraisal of
the Property ,..hich was based upon the contemplated uses of the
Property as described ln the Agreement and consistent with the
Redevelopment Plan,
Section 5.
The City Council hereby finds and determines
that the payments to be made by the Developer to the Agency for the
acquisition of the Property ln accordance ...ith the terms of the
Agreement is fair. reasonable and adequate compensation and lS
necessary to effectuate the purpose of the Redevelopment Plan and
the Community Redevelopment Law. The City Council further finds and
determines that the acquisition of the Property by the Developer and
the completion of the Project pursuant to the terms of the Agreement
is" reasonably anticipated to result ln certain additional retail
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sales tax and other revenues, to be received by the City and certain
additional tax increment revenues and certain contributions from the
Developer. as more fully described in the ?greement, to be received
by the Agency.
Section 6.
The Ci ty Counci 1 hereby approves the terms
and conditions of the Agreement by and benJeen the Agency and the
Developer and hereby authorizes the sale of the Property by the
Agency to the Developer in accordance with the provisions of said
Agreement.
Section 7,
This Resolution shall take effect upon
adoption.
PASSED. APPROVED AND ADOPTED this
day of
, 1984.
Mayor of the City of
Arcadia, California
(SEAL)
ATTEST:
City Clerk of the City of
Arcadia. California
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ARCADIA
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CERTIFICATE OF CITY CLERK
RE ADOPTION OF RESOLUTION
I, , City Clerk of the City of
Arcadia, California, DO HEREBY CERTIFY that the foregoing Resolution
was duly adopted by the City Council of said City at a
meeting of said City Council held on the day of
1984, and that the same was passed and adopted by the following vote
to wit:
AYES: Counc i 1 membe r s
NOES: Council members
ABSENT: Council members
ABSTAIN: Council members
City Clerk of the City of
Arcadia, California
(SE.Z\L)
STATE OF CALIFORNIA
COu~TY OF LOS ANGELES
CITY OF ARCADIA
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CERTIFICATE OF CITY CLERK
OF AUTHENTICATION
1. , City Clerk of the City of
Arcadia, California, DO HEREBY CERTIFY that the above and foregoing
is a full, true and correct CODV of Resolution No, of the
City Council of said City and 't"hat said Resolution was adopted at
the time and by the vote stated on the above certificate. and has
not been amended or repealed.
City Clerk of the City of
Arcadia. California
( SE.;L)
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