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ARA88-015RESOLUTION NO. ARA88-15 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING THE SALE OF CERTAIN REAL PROPERTY IN THE ALPHA REDEVELOPMENT PROJECT AREA; APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT PERTAINING THERETO; AND AUTHORIZING THE EXECUTION OF SAID DISPOSITION AND DEVELOPMENT AGREEMENT. WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan (the "Redevelopment Plan") for Redevelopment Project Alpha (the "Project"); and WHEREAS, in order to carry out and implement the Redevelopment Plan, the Agency proposes to sell, pursuant to the terms and conditions of a Disposition and Development Agreement (the "Agreement"), certain real property (the "Site") bounded by Lincoln Avenue, Anaheim Boulevard, Cypress and Claudina Streets, which Site is more particularly described in the Agreement; and WHEREAS, Raymond A. and Connie Y. Masciel, a sole proprietorship (the "Developer"), have submitted to the Agency a written offer in the form of said Agreement to purchase the Site at a fair and equitable price for uses in accordance with the Redevelopment Plan; and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by State and local law; and WHEREAS, the Developer possesses the qualifications and financial resources necessary to acquire and ensure development of the Site in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared a summary setting forth the cost of the Agreement to the Agency, the estimated value of the interest to be conveyed determined at the highest uses permitted under the Redevelopment Plan and the purchase price, and has made said summary available for public inspection in accordance with the California Community Redevelopment Law; and -1- 0 WHEREAS, pursuant to such provisions of the California Community Redevelopment Law, the Agency and the City Council of the City of Anaheim (the "City Council") held a joint public hearing on the proposed sale of the Site and the proposed Agreement, having duly published notice of such public hearing and made copies of the Agreement, other reports and documents available for public inspection and comment; and WHEREAS, pursuant to such provisions of the California Community Redevelopment Law, the City Council, following such joint public hearing, has found and determined that the consideration for which the Site is to be sold is not less than its fair market value in accordance with the covenants and conditions governing such sale as provided in the Agreement; and WHEREAS, the Agency has duly considered all terms and conditions of the proposed sale and believes that the redevelopment of the Site pursuant to the Agreement is in the best interests of the City and the health, safety, morals, and welfare of its residents, and is in accord with the public purposes and provisions of applicable State and local law and requirements. NOW, THEREFORE, BE IT RESOLVED by the Anaheim Redevelopment Agency as follows: 1. The Agency hereby finds and determines that the consideration to be paid by the Developer for the sale of the real property as described in the Agreement is not less than fair market value in accordance with the covenants and conditions governing such sale as set forth in the Agreement. The Agency hereby further finds and determines that all consideration to be paid under the Agreement is in amounts necessary to effectuate the purposes of the Redevelopment Plan for the Alpha Redevelopment Project. 2. The sale of the real property, and the Agreement which establishes the terms and conditions for the sale and development of the real property, are hereby approved. 3. The Chairman of the Agency is hereby authorized to execute the Agreement on behalf of the Agency, provided that the City Council has first approved the Agreement and the sale of the real property pursuant to such Agreement. -2- 0 4. The Executive Director of the Agency is hereby authorized, on behalf of the Agency, to sign all documents necessary and appropriate to carry out and implement the Agreement (including, without limitation, the Grant Deed) and to administer the Agency's obligations, responsibilities and duties to be performed under the Agreement. THE FOREGOING RESOLUTION is approved and adopted by the Anaheim Redevelopment Agency this 9th day of August , 1988. CHAIRMAN ANAHEIM REDEVELOPMENT A ENCY ATTEST: SECRETARY ANAHEIM REDEVELOPMENT AGENCY -3- STATE OF CALIFORNIA. ) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I, LEONORA N. SOHL, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARA88-15 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 9th day of August, 1988, by the following vote of the members thereof: AYES: AGENCY MEMBERS: Ehrle, Kaywood, Pickler and Bay NOES: AGENCY MEMBERS: None ABSENT: AGENCY MEMBERS: Hunter AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency signed said Resolution on the 9th day of August, 1988. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 9th day of August, 1988. SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY (SEAL)