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ARA-2007-005RESOLUTION NO. ARA-2007-005 RESOLUTION OF THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT WITH ANDY BROUMAND AND MAHING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is engaged in implementation of the Redevelopment Plan for the Anaheim Merged Redevelopment Project (the "Redevelopment Plan"); and WHEREAS, the Agency acquired the following parcel of real property from the City (the "Agency Parcel") deemed to be a remnant from the construction of various improvements to Katella Avenue: (i) that certain approximately four thousand six hundred (4,600) square foot parcel of real property generally located at 1779 South Heather Lane in the City of Anaheim and bearing Assessor's Parcel Number 129-434-56; and WHEREAS, the Agency intended to redevelop the Agency Parcel as an affordable housing project; however, the Agency's intended use proved to be unviable; and WHEREAS, the Agency solicited bids for the acquisition and development of the Agency Parcel and selected Andy Broumand (the "Developer") as the most qualified under the criteria established in the solicitation; and WHEREAS, in order to implement the Redevelopment Plan, the Agency desires to enter into that certain Disposition and Development Agreement dated as of May 1, 2007 (the "DDA") by and between the Agency and the Developer pursuant to which (i) the Agency would sell the Agency Parcel to the Developer, and (ii) the Developer would construct housing on the Agency Parcel for subsequent sale (the "Housing Project"); and WHEREAS, the Agency intends to transfer the proceeds from the sale of the Agency Parcel under the DDA to the Agency's fund which provided the funding for the Agency's acquisition of the Agency Parcel; and WHEREAS, pursuant to Section 33433 of the California Redevelopment Law ("CRL"), the Agency is authorized, with the approval of the City Council of the City of Anaheim (the "City") after conducting a public hearing, to sell or lease the Agency Parcel for development pursuant to the Redevelopment Plan upon a determination by the City Council that the consideration for such sale or lease is not less than fair reuse value at the use and with the covenants and conditions and development costs authorized by the sale or lease; and WHEREAS, in connection with the DDA, Agency staff has had prepared, and the Agency has reviewed and considered, a "33433 Summary Report" setting forth: (i) the cost of the DDA to the Agency, (ii) the estimated value of the interests to be sold to the Developer, determined at the highest and best uses permitted under the Redevelopment Plan, (iii) the estimated value of the interests to be sold, determined at the uses and with the conditions, covenants and development costs required by the sale, and (iv) the purchase price for the Developer's acquisition of the Agency Parcel; and WHEREAS, the 33433 Summary Report concludes that as a result of the open and competitive nature of the solicitation process used by the Agency for the disposition of the Agency Parcel, the purchase price for the Agency Parcel under the DDA equals fair market value; and WHEREAS, the DDA contains all of the terms, covenants, conditions, restrictions, obligations and provisions required by state and local law; and WHEREAS, the Housing Project will assist with the removal of blight and is consistent with the implementation plan adopted by the Agency for the Redevelopment Plan pursuant to Section 33490 of the CRL (the "Implementation Plan"); and WHEREAS, pursuant to the California Environmental Quality Act (Public Resources Code Section 21000 et seq.) ("CEQA"), and the CEQA Implementing Guidelines (14 California Code of Regulations Section 15000 et seq.) (the "Guidelines"), the City of Anaheim (the "City") adopted and certified Anaheim General Plan and Zoning Code Update Environmental Impact Report No. 330 (the "General Plan Update EIR") in connection with the City's General Plan update in 2004 (as updated, the "General Plan"); and WHEREAS, the General Plan Update EIR is a Program EIR under CEQA and the Guidelines, addressing the environmental impacts from the City's ultimate build-out, considering maximum densities and the effects thereof, and establishing a mitigation monitoring program which requires, among other things, subsequent focused studies and the implementation of mitigation measures where required; and WHEREAS, the Agency has reviewed and determined that the Housing Project falls within the scope of the activities addressed in the General Plan Update EIR and the General Plan Update EIR adequately describes the Housing Project for purposes of CEQA because (i) the General Plan Update EIR is a Program EIR, {ii) the Housing Project is consistent with the General Plan, (iii) the Housing Project presents no new environmental effects which could occur that were not examined in the General Plan Update EIR, and (iv) there is no new information to suggest that new mitigation measures would be required of the Housing Project; and WHEREAS, pursuant to the CRL, the Agency Governing Board and the City Council of the City have conducted a duly noticed joint public hearing on the DDA, at which public hearing all persons were given an opportunity to be heard; and WHEREAS, the Governing Board of the Agency has duly considered all of the terms and conditions of the DDA and believes that the Housing Project is in the best interests of the City of Anaheim and the health, safety, morals and welfare of its residents, and is in accord with the public purposes and provisions of applicable state and local law and requirements. 3 NOW, THEREFORE, THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Environmental Assessment. The Agency hereby certifies that it has reviewed the Housing Project and finds that impacts associated with the development of the Housing Project have been previously covered in the General Plan Update E1R. Section 2. Section 33433 Findings. The Governing Board hereby finds and determines that, based on substantial evidence in the record before it: (i) the consideration for the Agency's disposition of the Agency Parcel pursuant to the DDA is not less than the fair market value, and (ii) the development of the Housing Project will assist in the elimination of blight and is consistent with the Implementation Plan adopted by the Agency for the Redevelopment Plan. Section 3. Approval of DDA. The DDA, a copy of which is on file with the Secretary of the Agency, is hereby approved and the Executive Director of the Agency is hereby authorized and directed to execute and administer the DDA on behalf of the Agency. THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY THIS FIFTEENTH (15TH) DAY OF MAY, 2007, BY THE FOLLOWING ROLL CALL VOTE: AYES: Chairman Pringle, Agency Members Hernandez, Sidhu, Galloway, Kring NOES: NOS ABSTAIN: NONE ABSENT: NOS CHAIRMAN ATTEST: AGE Y SECRETARY 65440.1 4