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HomeMy WebLinkAbout5204 , " 00 ( ( v . . 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 5204 - 1 - A.'T I? . "1 10 ( ( 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 5204 - 2 - . I,', .. ( c 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, 5204 - 3 - . 1., COo ( C' 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 - 4 - 5204 0., \ ~ r ( 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 5204 - 5 - " It "" ~ f;l ( ( . . STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF ARCADIA ) ) ss. ) 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 ) ) s's. ) 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) 5204 - 6 -