88-117RESOLUTION NO. 88R- 117
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM APPROVING THE THIRD AMENDMENT TO
THE DISPOSIIiON AND DEVELOPMEN~ AGREEMENT
BETWEEN THE ANAHEIM REDEVELOPMENT AGENCY AND
MEYER iNVEStMENT PROPERTIES, INC., WHICH
PROVIDES FOR REVISION OF THE PURCHASE PRICE
FOR THE SALE OF REAL PROPERTY PURSUANT
THERETO, AND MAKING CERTAIN FINDINGS WITH
RESPECI TO SUCH THIRD AMENDMENT.
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 implement the Redevelopment Plan, the
Agency entered into that certain Disposition and Development
Agreement with Meyer Investment Properties, Inc. ("Meyer") dated
November 8, 1983, (the "DDA"), for the sale of certain real
property (the "Site") located at the northeast corner of Broadway
and Harbor Boulevard; and
WHEREAS, the DDA was amended by that certain First
Amendment dated December 11, 1984, and that certain Second
Amendment dated September 9, 1986; and
WHEREAS, the Site is to be developed in phases and has
generally been subdivided for such purposes; and
WHEREAS, three (5) of the parcels of the Site are:
(1) Parcel A, at the intersection of Broadway and Harbor Boulevard,
on which a ten (10) story office building has been constructed,
(2) Parcel PA (an air rights parcel), immediately east of Parcel A
along Broadway, on which a parking structure has been constructed
by Agency to provide appurtenant parking for the Parcel A office
building, and (c) Parcel D, located at the northeast corner of
Broadway and Clementine Street, currently vacant but on which the
DDA provided for housing to be built; and
WHEREAS, Meyer has executed and submitted to Agency copies
of a proposed Third Amendment to the DDA (the "Third Amendment")
which would, inter alia: (1) revise the adjusted purchase price
that Meyer would pay to Agency for sale of Parcel A, (2) revise
Parcel PA, including the parking structure thereon, (3) delete
Parcel D from the DDA by Meyer quitclaiming all right, title and
interest therein, and (4) revise the Schedule of Performance by
which Meyer will be obligated to develop the remainder of the Site;
and
WHEREAS, Agency has prepared a summary setting forth the
cost to Agency of the DDA, as amended by the Third Amendment, the
estimated value of interest to be conveyed at the highest uses
permitted under the Plan, and the purchase price, and has made same
summary available for public inspection in accordance with the
California Community Redevelopment Law; and
WHEREAS, the Third Amendment does not change the
development of the Site or the environmental impact considered
the Final Subsequent Environmental impact Report previously
prepared for the DDA; and
WHEREAS, the Community Redevelopment Commission of the
City of Anaheim has reviewed the proposed Third Amendment and has
recommended its approval by the Agency and the City Council of the
City of Anaheim (the "City Council"); and
WHEREAS, pursuant to the California Community
Redevelopment Law, Agency and the City Council held a joint public
hearing on the Third Amendment, including, without limitation, the
revised terms of sale of Parcels A and PA; and
WHEREAS, the City Council has duly considered all terms
and conditions of the Third Amendment, and finds that the changes
contained in the Third Amendment are in the best interests of the
City of Anaheim and the health, safety, morals and welfare of its
residents, are in accord with the public purposes and provisions of
applicable State and local law and requirements, and are necessary
to effectuate the Redevelopment Plan.
NOW, THEREFORE, BE IT RESOLVED BY CITY COUNCIL OF THE CITY
OF ANAHEIM AS FOLLOWS:
1. The City Council hereby finds and determines that the
certifications, findings, and determinations with respect to
eavironmental impacts of the proposed development of the Site, as
set forth in Resolution No. 85R-455 of the City Council are not
changed by the Third Amendment, and such certifications, findings
and determinations are hereby ratified in their entirety.
2. The City Council hereby finds and determines that the
consideration for the sale of Parcels A and PA is not less than
their fair market values in accordance with covenants and conditions
governing their sale.
3. The sale of the Site, including Parcels A and PA, and
the Third Amendment, which revises the terms and conditions for the
sale of Parcels A and PA, are hereby approved.
-2-
THE FOREGOING RESOLUTION is approved and adopted by the
City Council of the City of Anaheim this 15th day of 14arch, 1988.
MAYOR OF THE CITY IOF ANAHEIM
ATTEST
CITY CLERK OF
MES/jd
2354L
031588
ThE CITY OF ANAHEIM
-3-
CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 88R-117 was introduced and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 15th day of March, 1988, by the following vote of the members thereof:
AYES:
COUNCIL MEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: COUNCIL MEMBERS: None
ABSE[~T: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. 88R-117 on the 16th day of March, 1988.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 16th day of March, 1988.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 88R-117 duly passed and
adopted by the Anaheim City Council on March 15, 1988.
CITY CLERK OF THE CITY OF ANAHEIM