HomeMy WebLinkAboutAPRIL 6,1976
ROLL CALL
1
MINUTE
APPROVAL
MAJESTIC
REALTY
COMPANY
RESOLUTION
NO. 24
RESOLUTION
NO. 25
1
M I NUT E S
ARCADIA REDEVELOPMENT AGENCY
REGULAR MEETING
APRIL 6, 1976
The Arcadia Redevelopment Agency met in regular session on April 6,
1976 at 7:45 p.m. in the Arcadia City Hall Council Chamber.
PRESENT:
ABSENT:
Members Lauber, Saelid, Helms, Scott, Gilb
None
On MOTION by Member Scott, seconded by Member Lauber and
mously the minutes of the regular meeting of February 17
Member Helms did not vote as he was absent on said date.
carr ied unani-
were APPROVED.
The City Manager advised that the Majestic Realty Company had requested
permission from the Agency to move forward with the execution of the
Disposition and Development Agreement which was approved in concept by
the Agency in September of 1975. This relates to property at
Huntington Drive and Second Avenue legally described as Lots 1, 2, 3,
4, 5 and 38 of Tract 6860. The proposal provides for the Developer
to acquire Parcels 1 and 2 and the Agency's acquisition of Parcels 3
and 4. According to the Agreement the Agency would then sell Parcel 3
to the developer in exchange for Parcel 2. The Agency would retain
Parcels 2 and 4 which comprise the Huntington Drive frontage and the
corner. Price and terms are set forth in the report dated April 6.
The developer proposes to construct an industrial building at the rear.
Resolut~ons had been prepared and the City Attorney read the titles
as follows:
"RESOLUTION FINDING AND DETERMINING THAT A SUBSEQUENT ENVIRONMENTAL
IMPACT REPORT NEED NOT BE PREPARED FOR THE PROPOSED SALE AND DEVELOP-
MENT OF CERTAIN REAL PROPERTY IN THE CENTRAL REDEVELOPMENT PROJECT."
"RESOLUTION APPROVING THE PROPOSED SALE OF REAL PROPERTY IN THE CENTRAL
REDEVELOPMENT PROJECT; APPROVING THE PROPOSED DISPOSITION AND
DEVELOPMlNT AGREEMENT PERTAINING THERETO; AND AUTHORIZING THE
EXECUTION AND IMPLEMENTATION OF SAID DISPOSITION AND DEVELOPMENT
AGREEMENT. "
It was MOVED by Member Helms, seconded by Member Scott that the reading
of the full body of said resolutions be waived and that same be
adopted.
Discussion ensued on Member Saelid's concern about the appraisal
method and the CityManager explained in detail how the price range
came about. Member Saelid suggested that in the future professional
appraisals be depended upon rather than put the burden and re-
sponsibility on staff to make such judgments.
Roll call was then made on the motion.
AYES:
NOES:
Members Lauber, Helms, Scott, Gilb
Member Saelid (on the basis that Resolution No. 24 states that
an additional environmental impact report need not be prepared;
that the original EIR is sufficient.)
None
ABSENT:
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REQUEST FOR
LOAN
ADJOURNMENT
in order to proceed with this project it was MOVED by Member Scott,
seconded by Member Lauber and carried on roll call vote as follows
that the Agency request the City Council to appropriate $65,000 from
budgeted funds for loan to the Agency at 7 percent.
AYES:
NOES:
ABSENT:
Members Lauber, Helms, Scott, Gilb
Member Saelid
None
At 9:50 p.m. it was MOVED by Member Helms, seconded by Member Lauber
and carried that the meeting be and i is hereby adjourned.
1
/
,/Chairman, ABA
ATTEST:
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1
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