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RES-2007-064RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT WITH TRUCOR, INC. AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH RESOLUTION NO. 2007 064 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 several parcels of real property from Caltrans, including several of the following "Agency Parcels," deemed to be remnants from the construction of various improvements to Interstate 5: (i) that approximately nine thousand two hundred sixty -six (9,266) square foot parcel of real property generally located at the northeast corner of Water and West Streets in the City and bearing Assessor's Parcel Number 036 131 -27, (ii) that approximately twelve thousand thirty (12,030) square foot parcel of real property generally located at 837 West Cottonwood Circle in the City and bearing Assessor's Parcel Number 036 270 -29, (iii) that approximately fifteen thousand two hundred (15,200) square foot parcel of real property generally located at 557 South Olive Street in the City and bearing Assessor's Parcel Number 251- 083 -16, (iv) that approximately ten thousand (10,000) square foot parcel of real property generally located at 211 North Olive Street in the City and bearing Assessor's Parcel Number 255- 074 -08 and portions of Assessor's Parcel Numbers 255- 074-09 and 255- 074 -19, (v) that approximately five thousand six hundred (5,600) square foot parcel of real property generally located at 2535 West Picadilly Way in the City and bearing Assessor's Parcel Number 071 352 -09, and (vi) that approximately thirty -two thousand (32,000) square foot parcel of real property generally located at 1219, 1225 and 1231 West Center Street in the City and bearing Assessor's Parcel Number 036 041 -49 and 036 041 -47 (but only part of such parcel); and WHEREAS, the Agency intended to redevelop the Agency Parcels 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 Parcels and selected Trucor, Inc. (the "Developer as the most qualified under the criteria established in the solicitation; and 1 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 Parcels to the Developer, and (ii) the Developer would construct housing on the Agency Parcels for subsequent sale (the "Housing Project and WHEREAS, the Agency intends to transfer the proceeds from the sale of the Agency Parcels under the DDA to the Agency's fund which provided the funding for the Agency's acquisition of the Agency Parcels; 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 Parcels 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 Parcels; 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 Parcels, the purchase price for the Agency Parcels 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 2 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 City Council of the City 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 CITY COUNCIL OF THE CITY OF ANAHEIM DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Section 33433 Findings. The City Council hereby fmds and determines that, based on substantial evidence in the record before it: Section 2. Approval of DDA. The DDA, a copy of which is on file with the Secretary of the Agency, is hereby approved. THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ANAHEIM THIS FIFTEENTH (15TH) DAY OF MAY, 2007, BY THE FOLLOWING ROLL CALL VOTE: AYES: NOES: NONE ABSTAIN: NONE ABSENT: NONE ATTEST iA�� ice/ CI CLERK 65438.1 (i) the consideration for the Agency's disposition of the Agency Parcels 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. Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring 4 MAYOR /f