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1977-522RESOLUTION NO. 77R -522 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM CERTIFYING THE NEGATIVE DECLARATION WITH RESPECT TO THE PROPOSED PARTICIPATION AGREEMENT BETWEEN THE ANAHEIM REDEVELOPMENT AGENCY AND PACIFIC SOUTHWEST REALTY COMPANY; FINDING THAT THE CONSIDERATION FOR THE SALE OF THE PROPERTY THEREUNDER IS NOT LESS THAN FAIR MARKET VALUE IN ACCORDANCE WITH COVENANTS AND CONDITIONS GOVERNING SUCH SALE; AND APPROVING THE SALE OF SUCH PROPERTY AND SAID PARTICIPATION AGREEMENT. WHEREAS, the Anaheim Redevelopment Agency (the "Agency is engaged in activities necessary to execute and implement the Redevelopment Plan for Redevelopment Project Alpha (the "Project and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property (the "Property in the Redevelopment Project Alpha Project area (the "Project area pursuant to the terms and provisions of a Participation Agreement and which property is described in the attached Exhibit "A" and incorporated herein by reference; and WHEREAS, Pacific Southwest Realty Company (the "Developer has submitted to the Agency a written offer in the form of said Participation Agreement to purchase the property for not less than fair market value for uses in accordance with the Redevelopment Plan, and the covenants and conditions of said Participation Agreement; and WHEREAS, the proposed Participation Agreement contains all the provisions, terms and conditions and obligations required by State and local law; and WHEREAS, Developer possesses the qualifications and financial resources necessary to acquire and insure development of the Property 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 Participation 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 Redevelop- ment Law; and WHEREAS, the Community Redevelopment Commission of the City of Anaheim has reviewed said proposed Participation Agreement and has recommended its approval by the City Council and the Agency; and WHEREAS, the Agency has prepared an Initial Study and Negative Declaration with respect to said Participation Agree- ment and has approved and adopted the Negative Declaration, and found and determined that the implementation of said Participa- tion Agreement will not have a significant effect on the environ- ment or result in a substantially, or potentially substantial, adverse change in the environment; and WHEREAS, pursuant to provisions of the California Community Redevelopment Law, the Agency and the City Council of the City of Anaheim "City Council held a joint public hearing on the proposed sale of the Property and said proposed Participa- tion Agreement after publication of notice as required by State law; and WHEREAS, the City Council has duly considered all terms and conditions of the proposed sale and believes that the redevelopment of the Property pursuant to the proposed Participa- tion Agreement is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable State and local law and requirements. NOW, THEREFORE, BE IT RESOLVED THAT: 1. The City Council hereby certifies that the information contained in the Initial Study and Negative Declaration has been reviewed and considered by the members of the City Council. 2. The City Council hereby approves and adopts the Negative Declaration with respect to the proposed Participation Agreement between the Agency and Pacific Southwest Realty Company. 3. The City Council hereby finds and determines that the proposed Participation Agreement between the Agency and Pacific Southwest Realty Company will not have a significant effect on the environment, or result in a substantially, or potentially substantial, adverse change in the environment, as set forth in said Negative Declaration. -2- 14. The City Council hereby finds and determines that the consideration for sale of the Property pursuant to said Participation Agreement is not less than fair market value in accordance with covenants and conditions governing such sale. 5. The sale of the Property by the Agency to Pacific Southwest Realty Company and the Participation Agreement which establishes the terms and conditions for the sale and development of the Property, are hereby approved. THE FOREGOING RESOLUTION is approved and signed by me this 19th day of July, 1977. ATTEST: CITY CLERK OF THE CITY OF ANAHEIM MES: jh l HE CITY OF ANAHEIM STATE OF CALIFORNIA COUNTY OF ORANGE ss. CITY OF ANAHEIM AYES: COUNCIL MEMBERS: Kaywood, Seymour, Kott, Roth and Thom NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 77R -522 on the 19th day of July, IN WITNESS WHEREOF, I have hereunto set my hand and affixed City of Anaheim this 19th day of July, 1977. (SEAL) aa$su i AaQ Aq TunwmoD CITY CLERK OF THE CITY OF ANAHEIM CITY CLERK I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 77R -522 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim held on the 19th day of July, 1977, by the following vote of the members thereof: approved and 1977. the seal cf the I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original of Resolution No. 77R -522 duly passed and adopted by the Anaheim City Council on July 19, 1977. LEGAL EXHIBIT "A" �C='1PTION OF THE SITE All that certain real property in the City of Anaheim, County of Orange, State of California being all of Lots 14 and 16, portions of Lots 13, 15 and that certain unnumbered parcel of land lying Westerly of said Lots 15 and 16 to- gether with that portion of Lincoln Avenue (formerly Centre Street) vacated by Resolution No. recorded on 197 as Instrument No. in Book Page of Official Records of said County, portion of Helena Street (formerly Adelaide Street) vacated by Resolution No. recorded on 197 as Instrument No. in Book Page of said Official Records and a portion of Oak Street (formerly First South Street) vacated by Resolution No. recorded on 197 as Instrument No. in Book Page of said Official Records, all being a portion of Block E5 of the Langenberger Tract per map recorded in Book 1, Page 550 and 551 of Miscellaneous Records in the Office of the County Recorder of Los Angeles County and described as follows: Beginning at a point in the Southerly line of said Oak Street (50.00 feet wide), said point being distant 179.86 feet measured North 75 °28'03" East along said line from the Northwesterly corner of Lot 33 in said Block E5; thence along said Southerly line South 75 °28'03" West, 140.14 feet to a point on a non tangent curve concave Westerly having a radius of 2055.00 feet to which point a radial line of said curve bears North 77 °06'46" East; thence Northerly along said curve through a central angle of 1 °32'30" an arc distance of 55.29 feet; thence tangent North 14 °25'44" West, 99.15 feet to the beginning of a curve concave Southeasterly having a radius of 26.00 feet; thence Northeasterly along said curve through a central angle of 89 °53'40" an arc distance of 40.79 feet; thence tangent North 75 °27'56" East, 0.30 feet to the beginning of a curve concave Northerly having a radius of 1055.00 feet; thence Easterly along said curve through a central angle of 6 °10'34" an arc distance of 113.72 feet to a reverse curve concave Southerly having a radius of 100.00 feet; thence Easterly along said curve through a central angle of 9 °30'13" an arc distance of 16.59 feet; thence tangent North 78 °47'35" East, 39.71 feet to a reverse curve concave Northerly having a radius of 100.00 feet; thence Easterly along said curve through a central angle of 13 °47'05" an arc distance of 24.06 to a compound curve concave Northwesterly having a radius of 1067.00 feet; thence Northeasterly along said curve through a central angle of 2 °33'27" an arc distance of 47.63 feet to a reverse curve concave Southwesterly having a radius of 30.00 feet; thence Southeasterly along said curve through a central angle of 87 °13'51" an arc dis- tance of 45.67 feet; thence tangent South 30 °19'06" East, 7.51 feet to the beginning of a curve concave Southwesterly having a radius of 282.17 feet; thence Southeasterly along said curve through a central angle 15 °51'11" an arc distance of 78.07 feet; thence tangent South 14 °27'55" East, 31.34 feet to the beginning of a curve concave Northwesterly having a radius of 20.00 feet; thence Southwesterly along said curve through a central angle of 89 °54'47" an arc dis- tance of 31.39 feet; thence tangent South 75 °26'52" West, 155.76 feet; thence South 14 °33'08" East, 39.05 feet to the point of beginning. The legal description herein is prepared for the exclusive use of the Anaheim Redevelopment Agency for parcel identification purposes and should not be used in a Grant Deed for conveyance purposes.