ARA1985-016RESOLUTION NO. ARA $5 -16
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT
AGENCY APPROVING THE PROPOSED SALE OF REAL
PROPERTY IN REDEVELOPMENT PROJECT ALPHA;
APPROVING THE PROPOSED OWNER PARTICIPATION
AGREEMENT PERTAINING THERETO; AND AUTHORIZING
THE EXECUTION OF SAID OWNER PARTICIPATION
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 implement the Redevelopment Plan,
as amended, the Agency proposes to sell, pursuant to the terms and
conditions of an Owner Participation Agreement, certain real
property (the "Site ") located on the Northeast corner of Lakeview
Avenue and La Palma Avenue in Redevelopment Project Alpha; and
WHEREAS, LA PALMA - LAKEVIEW ASSOCIATES, a general
partnership (the "Developer"), has submitted to the Agency a written
offer in the form of said Owner Participation Agreement to purchase
the Site at a fair and equitable price for uses in accordance with
the Redevelopment Plan; and
WHEREAS, the proposed Owner Participation Agreement
contains all the provisions, terms, conditions and obligations
required by State and local law; and
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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 Owner 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 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 Owner Participation
Agreement; 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 Owner Participation Agreement; and
WHEREAS, the Community Redevelopment Commission of the
City of Anaheim has reviewed said proposed Owner Participation
Agreement and has recommended its approval by the City Council and
the Agency; and
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BE IT FURTHER RESOLVED that the Chairman and Secretary
are hereby authorized and directed to execute said Owner
Participation Agreement on behalf of the Anaheim Redevelopment
Agency.
THE FOREGOING RESOLUTION is approved and adopted by the
Anaheim Redevelopment Agency this 18th day of June 1985.
CHAIRMAN
ANAHEIM REDEVELOPMENT AGENCY
ATTEST:
I �P"O�lLdLtla
SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
APPROVED AS TO FORM:
WEISER, KANE, BALLMER & BERKMAN
Agency Special Counsel
u893R
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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. ARA85 -16 was passed and adopted at a
regular meeting of the Anaheim Redevelopment Agency held on the 18th day of
June, 1985, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Kaywood, Bay, Pickler, Overholt and Roth
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 18th day of June, 1985.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 18th day of
June, 1985.
SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)