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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