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HomeMy WebLinkAbout4703 RESOLUTION NO. 4703 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA MAKING CERTAIN FINDINGS WITH RES- PECT TO THE CONSIDERATION TO BE RECEIVED BY THE ARCADIA REDEVELOPMENT AGENCY PURSUANT TO CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENTS BY THE ARCADIA REDEVELOPMENT AGENCY WITH HTI. INDUSTRIES, INC, AND WITH FREDERICK G, JOHNS, JR. AND JIM KUHN, RESPECTIVELY, FOR TIlE SALE AND DEVELOPMENT OF 100 TO 112 NORTH FIRST AVENUE IN THE CENTRAL REDEVELOPMENT PROJECT; APPROVING THE PROPOSED SALE OF SAID REAL PRO- PERTY; AND APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENTS PERTAINING THERETO WHEREAS, the Arcadia Redevelopment Agency (the "Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the Central Redevelopment Project ("Project"); and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property (the "Sites"), in the Project area, pursuant to the terms and provisions of certain Disposition and Development Agreements (the "Agreements") and which property is described in said Agreements; and WHEREAS, HTL Industries, Inc. and Frederick G, Johns, Jr, and Jim Kuhn (the "Developers") submitted to the Agency proposals to purchase the respective Sites; and WHEREAS, the proposed Agreements contain all the provlslons, terms, conditions and obligations required by state and local law; and WHEREAS, Developers possess the qualifications and finan- cial resources necessary to acquire and insure development of the respective Sites, in accordance with the purposes and objectives pf the Redevelopment Plan; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered, a summary setting Jorth the cost of the Agreements to the Agency, the estimated value of the interests to be conveyed determined at the highest uses permitted under the Redevelopment Plan, and the purpose prices and made said summary available for public inspection in accordance with the California Community Redevelopment Law; and -1- 4703 WHEREAS, the City Council has approved and adopted the Negative Declaration pertaining to said Agreements, sale and development of sites and found and determined that the Agreements will not have a significant effect on the environment or result in a substantial or potentially substantial adverse change in the environment; and WHEREAS, pursuant to provisions of the California Com- munity Redevelopment Law, the Agency and the City Council held a duly noticed joint public hearing on the proposed sale of the Sites and the proposed Agreements; and WHEREAS, the City Council has considered all terms and conditions of the proposed sales, and the redevelopment of the Sites pursuant to the proposed Agreements is in the best interests of the City and the health, safety, morals and welfare of its re- sidents, and in accord with the public purposes and provisions of applicable State and local laws. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ARCADIA AS FOLLOWS: 1. The City Council hereby finds and determines that the consideration for sale of that certain Site pursuant to the Dis- position and Development Agreement between the Agency and HTL Industries, Inc. is not less than fair market value in accordance with covenants and conditions governing such sale, The City Council further hereby finds and determines that the consideration for sale of that certain Site pursuant to the Disposition and Development Agreement between the Agency and Frederick Q, Johns, Jr. and Jim Kuhn, a partnership, is not less than fair market value in accordance with covenants and conditions governing such sale. 2. The sale of that certain Site by the Agency to HTL Industries, Inc, and the Disposition and Development Agreement which establishes the terms and conditions for the sale and deve- lopment of such Site, are hereby approved, The sale of that certain Site by the Agency to Frederick G, Johns, Jr, and Jim Kuhn, a partnership, and the Disposition and Development Agreement which establishes the terms and conditions for the sale and development of such Site, are hereby approved. BE IT FURTHER RESOLVED that the City Clerk shall certify to the adoption of this resolution. I HEREBY CERTIFY that the foregoing resolution was adopted at a regular meeting of the City Council of the City of Arcadia held on the 4th day of January, 1978, by the affirmative vote of at least three Council Members, to wit: -2- 4703 AYES: Council Members Gilb, Lauber, Parry and Saelid NOES: Council Member Margett ABSENT: None az~r-L~~ City Clerk of the City of Arcadia SIGNED AND APPROVED this 4th day of January, 1978. (SEAL) -3- 4703