ARA1980-027RESOLUTION NO. ARA80 -27
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT
AGENCY MAKING CERTAIN FINDINGS WITH RESPECT
TO THE CONSIDERATION TO BE RECEIVED BY THE
ANAHEIM REDEVELOPMENT AGENCY .PURSUANT TO A
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN
THE ANAHEIM REDEVELOPMENT AGENCY AND KING OF
CALIFORNIA, INC. FOR THE SALE AND DEVELOPMENT
OF CERTAIN REAL PROPERTY; APPROVING THE PRO-
POSED SALE OF SAID REAL PROPERTY AND THE DISPO-
SITION AND DEVELOPMENT AGREEMENT PERTAINING
THERETO; AND AUTHORIZING TqE EXECUTION AND
IMPLEMENTATION OF SAID DISPOSITION AND DEVFLOP-
M ,NT AGREEMENT.
WHEREAS, the Anaheim Redevelopment Agency (the "Agency ")
is engaged in activities necessary to execute and implement the
Redevelopment Plan for Rel evelopment 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, King of California, 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 law;
and
WHEREAS, Developer possesses the qualifications and finan-
cial resources necessary to acquire and insure development of the
Site in accordance with the purposes and objectives of the Redevelop-
ment Plan; and
WHEREAS, the .Agency has prepared, reviewed and considered
a Summary Report setting forth the cost of the Agreement to the
Agency, the estimated value of the interests to be conveyed deter-
mined 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
WHEREAS, the Agency has found on the basis of an Initial
Study that said Agreement will not result in substantial changes in
the Project or the circumstances under which the Project is to be
-1-
undertaken, t11at no Negative Declaration, Subsequent F,ivironmental
Impact Report or Supplement to an Environmental Impact Report is re-
quired, and that the proposed action will have no significant effect
on the environment except is identified and considered in the previous
Environmental Impact Report; and
WHEREAS, pursuant to the provisions of the California
C'(Yflnunity Re Law, the Agency and the City Council of the
City of Anaheim have held a duly noticeI joint public hearing on
the proposed sale of the Site an :I the proposed Agreement; and
WHEREAS, the Agency has duly considered all terms and con-
ditions 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, morale and welfare of its resi-
dents, 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 t1he yiartici-
pation consideration for the sale of the Site pursuant to the
Agreement between the Agency and King of California, Inc. is not less
than the fair market value of the Site in accordance with the cove -
nants and conditions governing the sale.
2. The Agency hereby finds and determines that the considera-
tion for the sale of the Site pursuant to said .Agreement is equiva-
lent to the estimated value at the highest use permitted under the
Redevelopment Plan as set forth in said Summary Report.
3. The sale of the Site by the Agency to King of California,
Inc. and the Disposition and Development Agreement which establishes
the terms and conditions for the sale and devolopment of the Site,
are hereby approved.
4. The Chairman of the Agency is hereby authorized and direc-
ted to execute the Di5positioti Sri =i - )1,, =�lopment Agreement on behalf
of the Anaheim Redevelopment Agency.
5. The Executive Director is hereby authorized to rake all
steps, and to sign all documents and instruments (including but not
limited to the Grant Deed), necessary to implement and carry out to
Agreement on behalf of the Agency.
THE FOREGOING RESOLUTION is approved an pted by the
Anaheim Redevelopment Agency this 5th 4aY 90 �aust , 1980.
CHAIRTrAy
AHEIM REDEVELO ENT AGENCY
ATTEST:
SECRETXRY -
ANAHEIM REDEVELOPMENT AGENCY
MES : fm
STATE OF ;)',.
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do
hereby certify that the foregoing Resolution No. ARA80 -27 was passed and
adopted at a regular meeting of the Anaheim Redevelopment Agency held on
the 5th day of August, 1980, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Overholt, Kaywood, Bay, Roth and Seymour
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 5th day of August, 1980.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 5th day of
August, 1980.
SECRET AY OF THE ANAHEIR REDEVELOPMENT AGENCY
(SEAL)