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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
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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:
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AYES: Council Members Gilb, Lauber, Parry and Saelid
NOES: Council Member Margett
ABSENT: None
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City Clerk of the City of Arcadia
SIGNED AND APPROVED this 4th day of January, 1978.
(SEAL)
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