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RESOLUTION NO. 5647
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARCADIA APPROVING A CERTAIN DISPOSITION AN
DEVELOPMENT AGREEMENT BY AND BETWEEN T
ARCADIA REDEVELOPMENT AGENCY AND WLA ARCON
ARCADIA EQUITY MANAGEMENT, INC. (SOUT
CORNER PROJECT)
WHEREAS, the Arcadia Redevelopment
"Agency" and
the City Council of the City of Arcadia
"City") have by duly
adopted
ordinance
approved
Plan
(the
"Redevelopment Plan")
"Project");
and
WHEREAS, in
nt the Redevelopment Plan, the
Agency proposes to s
to the terms and conditions set
forth in that
'on and Development Agreement (the
"DDA") by and
Arcadia Equity
attached hereto as Exhibit "A",
as described in the DDA in the Project Area
Developer possesses the qualifications and
necessary to acquire and insure development of
n accordance with the purposes and objectives of the
Plan; and
the Agency has caused the preparation of, and the
Council has reviewed and considered a summary (the "Summary"),
attached hereto as Exhibit "B", setting forth the cost of the DDA
to the Agency, the estimated value of the interest to be conveyed,
and proposed purchase price and has made the Summary available for
public inspection, all in accordance with Health and Safety Code
section 33433; and
WHEREAS, pursuant to provisions of the Health and Safety Code
33431 and 33433, the Agency and the City Council of the city of
Arcadia have held a duly noticed Joint Public Hearing on the
proposed sale of the site and the proposed DDA; and
WHEREAS, the City Council has considered all terms of the
proposed DDA and has determined that the proposed sale and
development of the site pursuant to the proposed DDA are in the
best interests of the City and its residents and are in accord with
the purposes and provisions of applicable State and local law and
the Redevelopment Plan; and
WHEREAS, the Agency has prepared and approved on November 20,
1973 a program environmental impact report (ARA-12) for the Central
Redevelopment Project Area; and
WHEREAS, the Agency has prepared and approved on May 5, 1981
a program environmental impact report (ARA-63) for the East
Huntington Drive Redevelopment Area; and
WHEREAS, the development proposed in the DDA is consistent
with the recommendations contained in the August, 1989 Barton-
Aschman Comprehensive Traffic Analysis for the Central
Redevelopment Project Area; and
WHEREAS, the proposal in the DDA is consistent with the
recommendations contained in the October, 1990 Barton-Aschman
Traffic Study prepared for the Southwest Corner Project; and
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WHEREAS, the development proposed in the DDA is generally
consistent with the recommendations contained in the March 5, 1991
Barton-Aschman Impact Analysis for the Proposed Mass Transit
station; and
WHEREAS, Barton-Aschman has advised the Agency in their July
16, 1991 letter report titled "Review and Opinion of Preliminary
Design - June 3, 1991" that the north/south ramp to the alley is
less preferred than the east/west ramp, but is acceptable if set
back from the alley; and
WHEREAS, Agency staff has prepared an Initial Study of the
project proposed in the DDA in accordance with the provisions of
the California Environmental Quality Act of 1970, as amended
("CEQA"), and based upon said Initial Study, has caused to be
prepared a Mitigated Negative Declaration (which includes a
Mitigation Monitoring Plan) regarding the Project in accordance
with CEQA, all attached hereto and incorporated herein as Exhibit
"C"; and
WHEREAS, the City Council has duly considered all of the
foregoing environmental documents.
NOW, THEREFORE, THE ARCADIA CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the Summary attached hereto as Exhibit "B" is
hereby accepted and approved.
SECTION 2. That the consideration for the sale of the site
pursuant to the DDA is determined to be fair market value, but to
the extent that the consideration may be less than fair market
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value, the following findings are hereby made:
a) that such sale is necessary to implement the
Redevelopment Plan because its sale and development will
contribute to the elimination of blight, increase revenue
to the Agency and city and increase employment
opportunitiesi and
b) it is anticipated the difference in the estimated land
value and sale price for the site will be made up by the
Agency through the receipt by the Agency of property tax
increment generated by the proposed development of the
site as set forth in the DDAi and
c) it is anticipated the difference in the estimated land
value and sale price for the site will be further made up
by the City through the receipt by the City of business
license and utility user's tax revenue generated by the
proposed development of the site as set forth in the DDAi
and
d) that the site development is necessary to further the
public health, safety and welfare in accordance with the
Redevelopment Plan because its sale and development will
contribute to the elimination of blight, increase revenue
to the Agency and City and increase employment
opportunities.
SECTION 3. That the sale and proposed development of the site
are consistent with the Redevelopment Plan.
SECTION 4. That the DDA attached hereto as Exhibit "A", is
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hereby approved subject such minor modifications as may hereafter
be approved by the. Executive Director of the Agency and the Agency
General Counsel.
SECTION 5. That the city Clerk of the City of Arcadia is
hereby authorized and directed to certify to the adoption of this
Resolution.
SECTION 6. This Resolution shall take effect upon adoption.
Passed, approved and adopted this 17th day of March, 1992.
Mayor of the City of Arcadia
ATTEST:
City Clerk of the City of Arcadia
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES SS:
CITY OF ARCADIA
I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby
certify that the foregoing Resolution No. 5647 was passed and
adopted by the City Council of the City of Arcadia, signed by the
Mayor and attested to by the city Clerk at a regular meeting of
said Council held on the 17th day of March, 1992, and that said
Resolution was adopted by the following vote, to wit:
AYES:
NOES:
ABSENT:
City Clerk of the City of Arcadia
swc1.res
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COUNCIL RESOLUTION NO. 5647
EXHIBIT "A" - Disposition and Development Agreement by and
between the Arcadia Redevelopment Agency and WLA
Arcon and Arcadia Equity Management, Inc.
A complete copy of the DDA is contained in the City
Clerk's records.
EXHIBIT "B" - Summary (Disposition Report)
A complete copy of the Summary is contained in the
City Clerk's records
EXHIBIT "C" - Mitigated Negative Declaration
,p. complete copy of the Mitigated Negative is
contained in the city Clerk's records.
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