ARA1978-018RESOLUTION NO. ARA78R- lg
A RESOLUTION OF THE ANAHEIT REDEVELOPMENT AGENCY
MAKING CERTAIN FINDINGS WITH RESPECT TO THE
CONSIDERA^1ION TO BE RECEIVED BY THE ANAHEIM RE-
DEVELOPMENT AGENCY PURSUANT TO A DISPOSITION AND
DEVELOPME NT AGREEMENT BETWEEN TIE ANAHEIM REDEVEL-
OPMENT AGENCY AND W & D COMMERCIAL PROPERTIES, INC.
FOR THE SALE AND DEVELOPMENT OF CERTAIN REAL
PROPERTY BOUNDED BY REALIGNED LINCOLN AVENUE 014
THE NORTH, A 4AHEIM BOULEVARD ON THE EAST, OAK
STREET ON THE SOUTH, AND REALIGNED CLEMENTINE
STREET 014 THE WEST IN REDEVELOPMENT PROJECT ALPHA;
APPROVING THE PROPOSED SALE OF SAID REAL PROPERTY
AND THE DISPOSITION AND DEVELOPMENT AGREEMENT
PERTAINING THERETO; AND AUTHORIZING THE EXECUTION
AND IMPLEMENTATION 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 for Redevelopment Project Alpha (the "Project ");
and
WHEREAS, in order to implement the Redevelopment Plan,
the Agency proposes to sell certain real property (the "Site ") in
the Project area, pursuant to the terms and provisions of a
Disposition and Development Agreement (the "Agreement ") and which
property is described in said Agreement; and
WHEREAS, W & D Commercial Properties, Inc. (the
"Developer ") has submitted to the Agency a written offer in the
form of said Agreement to purchase the Site; and
WHEREAS, the proposed Agreement contains all the
provisions, terms, conditions and obligations required by state
and local lair; and
! Developer possesses the qualifications and
financial resources necessary to acquire and insure development
of the Site in accordance with the purposes and objectives of
the Redevelopment Plan; and
WHEREAS, the Agency has prepared, reviewed and
considered a Summary Report setting forth the cost of the Agree-
ment to the Agency, the estimated value of the interests to be
conveyed determined at the highest uses permitted under the
Redevelopment Plan, and the purchase price, and has made said
Summary Report available for public inspection in accordance
with the California Community Redevelopment Law; and
Be
WHEREAS. the Agency has found on the basis of an
Initial Study that said Agreement will not result in substan-
tial changes in the Project or the circumstances under which
the Project is to be undertaken, that no Negative Declaration,
Subsea uent Environmental Impact Report or Supplement to an
Environmental Impact Report is required, and that the proposed
action will have no significant effect on the environimnt
except as identified and considered in the previous environ-
mental impact report; and
WHEREAS, pursuant to
California Community Redevelops
Council of the City of Anaheim
public hearing on the proposed
posed Agreement; and
the provisions of the
nent Law, the Agency and the City
have held a duly noticed joint
sale of the Site and the pro-
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 proposed 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.
NOW, THEREFORE, BE IT RESOLVED by the Anaheim
Redevelopment Agency as follows:
1. The Agency hereby finds and determines that the
consideration for the sale of the Site pursuant to the Disposi-
tion and Development Agreement between the Agency and W & D
Commercial Properties, Inc. is not less than the fair market
value of the Site in accordance with the covenants and condi-
tions governing the sale.
2. The Agency hereby finds and determines that the
consideration for the sale of the Site pursuant to said Agreement
is less than the estimated value at the highest use permitted
under the Redevelopment Plan as set forth in said Summary Report,
and that such lesser consideration is necessary to effectuate
the purposes of the Redevelopment Plan.
3. The sale of the Site by the Agency to W & D Commercial
Properties, Inc. and the Disposition and Development Agreement
which establishes the terms and conditions for the sale and
development of the Site, are hereby approved.
4. The Chairman of the Agency is hereby authorized and
directed to execute the Disposition and Development Agreement
on behalf of the Anaheim Redevelopment Agency.
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5. The Executive Director is hereby authorized to take
all steps, and to sign all documents and instruments (including
but not limited to the Grant Deed), necessary to implement and
carry out the Agreement on behalf of the Agency.
THE FOREOING RESOLUTION is approved and adopted by
the Anaheim Redevelopment Agency this 31st day of January ,
1978.
,._..._.�. -�
A
CHAIRMAN
ANAHEIM REDEVELOPMENT AGENCY
ATTEST:
SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
ME S : j h
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA78 -18 was passed and
adopted-at a regular meeting of the Anaheim Redevelopment Agency held on
the 31st day of January, 1978, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Kaywood, Seymour, Kott, Roth and Thom
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment
Agency signed said Resolution on the.31st day of January, 1978.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 31st day of
January, 1978.
SECRETARY OF THE ANAHE M REDEVELOPMENT AGENCY
(SEAL)