ARA-2010-008 RESOLUTION NO. ARA- 2010 -008
RESOLUTION OF THE GOVERNING BOARD OF THE ANAHEIM
REDEVELOPMENT AGENCY APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT (CENTER STREET PROMENADE RETAIL
SPACE) WITH LAB HOLDING, LLC AND MAKING 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 desires to redevelop those certain parcels of real property (i)
bearing the odd numbered common addresses of 131 -211 Center Street Promenade and 411
West Broadway, Units A -H, Anaheim, California (the "Site "), and (ii) containing approximately
twenty -three thousand one hundred ninety -three (23,193) square feet of retail space (the "Retail
Space "); and
WHEREAS, in order to implement the Redevelopment Plan, the Agency desires to enter
into that certain Disposition and Development Agreement (Center Street Promenade Retail
Space) dated as of October 1, 2010 (the "DDA ") by and between the Agency and LAB Holding,
LLC, (the "Developer ") pursuant to which (i) the Agency would sell the Site to the Developer,
and (ii) Developer would make certain improvements and operate the Retail Space (the
"Project "); 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 Site 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 market value at its highest and best use in accordance with
the Redevelopment Plan; and
WHEREAS, in connection with the DDA, Agency staff has had prepared, and the
Agency has reviewed and considered, a "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 Site; and
WHEREAS, the DDA contains all of the terms, covenants, conditions, restrictions,
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obligations and provisions required by state and local law; and
WHEREAS, the Project will assist with the removal of blight within the Redevelopment
Project 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 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 Project falls within the
scope of the activities addressed in the General Plan Update EIR and the General Plan Update
EIR adequately describes the Project for purposes of CEQA because (i) the General Plan Update
EIR is a Program EIR, (ii) the Project is consistent with the General Plan, (iii) the 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 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 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.
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
Project and finds that the impacts associated with the development of the Project have been
previously covered in the General Plan Update EIR.
Section 2. Section 33433 Findings. The Agency hereby finds and determines that, based on
substantial evidence in the record before it:
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(i) the consideration for the Agency's disposition of the Site pursuant to the DDA is
not less than fair market value at its highest and best use in accordance with the
Redevelopment Plan; and
(ii) the development of the Project will assist in the elimination of blight in the
Redevelopment Project area and is consistent with the Implementation Plan
adopted by the Agency for the Redevelopment Plan.
Section 3. Approval of DDA. The DDA, substantially in the form on file with the Secretary
of the Agency, is hereby approved.
Section 4. Execution and Administration of DDA. The Executive Director of the Agency, or
such person's designee, is hereby 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
TWENTY -SIXTH (26TH) DAY OF OCTOBER, 2010, BY THE FOLLOWING ROLL CALL
VOTE:
AYES: Chairman Pringle, Agency Members Sidhu, Hernandez, Galloway, Kring
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE e„.4
CHAIRMAN
ATTEST:
ANAHEIM REDEVELO MENT A NCY SECRETARY
APPROVED AS TO FORM:
CRISTIN L. TA ,EY, CITY ATTORNEY
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By:
J HN E. WOODHEAD IV,
Assistant City Attorney
79780.1
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