ARA89-009RESOLUTION NO. ARA&9-9
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 generally by Lincoln Avenue, Olive and Cypress Streets,
Philadelphia and Center Streets, and the alley south of Center
Street, which Site is more particularly described in the
Agreement; and
WHEREAS, Lincoln Property Development Company N.C.,
Inc. (the "Developer"), has 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
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. The Agency also finds
that a lesser consideration than the highest value for these
sites is necessary to effectuate the redevelopment plan.
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.
4. The Executive Director of the Agency or his
authorized designee is hereby authorized, on behalf of the
Agency, to sign all documents necessary and appropriate to
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carry out and implement the Agreement (including, without
limitation, the Grant Deed) and to administer the Agency's
obligations, responsibilites and duties to be performed under
the Agreement.
THE FOREGOING RESOLUTION is approved and adopted by
the Anaheim Redevelopment Agency this 19th day of
September , 1989.
ATTEST:
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SECRETARY,
ANAHEIM REDEVELOPMENT AGENCY
•
CH IRMAN,
ANAHEIM REDEVELOPME T AGENCY
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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. ARA89-9 was passed and adopted at a
regular meeting of the Anaheim Redevelopment Agency held on the 19th day of
September, 1989, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Daly, Ehrle, Pickler and Hunter
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: Kaywood
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency
signed said Resolution on the 20th day of September, 1989.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 20th day of
September, 1989.
SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)