HomeMy WebLinkAbout5685
RESOLUTION NO. 5685
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA
AGREEING TO SELL THE 8,177 SQUARE FOOT PROPERTY LOCATED
AT THE NORTHWEST CORNER OF SECOND AVENUE AND HUNTINGTON
DRIVE FOR $187,250 TO THE ARCADIA REDEVELOPMENT AGENCY
FOR REDEVELOPMENT PURPOSES.
WHEREAS, on September 5, 1989 the Arcadia Redevelopment Agency
authorized staff to proceed with the implementation of the
Northwest Corner Redevelopment Project; and
WHEREAS, the Northwest Corner Redevelopment Project consists
of a 4-acre parcel located at the northwest corner of Second Avenue
and Huntington Drive and is bordered to the south by the right-of-
way of the Atchison, Topeka, and Santa Fe Railway Company, to the
east by Second Avenue, to the north by Santa Clara Street, and to
the west by Parcel 1 and Parcel 20, in Block 77 of "a part of
Arcadia Santa Anita Tract" in the city of Arcadia (see map, Exhibit
1); and
WHEREAS, the Arcadia Redevelopment Agency has either fee title
to or is in possession of all the properties that comprise the
Northwest Corner project, except for the 8,177 square foot city-
owned parcel located at the northwest corner of Second Avenue and
Huntington Drive (see map, Exhibit 2); and
WHEREAS, the Arcadia Redevelopment Agency desires to purchase
said land for redevelopment purposes; and
WHEREAS, the city of Arcadia has determined said land to be
surplus property; and
WHEREAS, the Arcadia Redevelopment Agency has had said land
appraised to determine its fair market value; and
WHEREAS, the City has reviewed the appraisals and has set just
compensation at One-Hundred-Eighty-Seven-Thousand-Two-Hundred-Fifty
Dollars ($187,250.00) based on the appraisals.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1.
That the city agrees to sell to the Arcadia
Redevelopment Agency the City-owned property located at the
Northwest Corner of Second Avenue and Huntington Drive in exchange
for One-Hundred-Eighty-Seven-Thousand-Two-Hundred-Fifty Dollars
($187,250.00) in cash.
SECTION 2.
That the City Manager or his authorized
designee is directed to execute all necessary documents to finalize
the above transaction, subject to the approval of same as to form
by the city Attorney.
SECTION 3.
That the city Clerk shall certify to the
adoption of this Resolution.
-\
,
r of the city of rcadia
Passed, approved and adopted
ATTEST:
J
Arcadia
2
5685
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ARCADIA
I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby
certify that the foregoing Resolution No. 5685 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 7th day of July, 1992, and that said
Resolution was adopted by the following vote, to wit:
AYES:
Councilmember Ciraulo, Harbicht, Lojeski arid Fasching
NOES:
None
ABSENT:
Councilmember Margett
~
Arcadia
3
5685