1985-080RESOLUTION N0. 85R-80
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
APPROVING THE FIRST IMPLEMENTATION AGREEMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE ANAHEIM
REDEVELOPMENT AGENCY AND LEWIS AND MARION FREEDMAN AND
FINDING THAT THE CONSIDERATION FOR THE SALE OF THE PROPERTY
THEREUNDER IS NOT LESS THAN FAIR MARKET VALUE IN ACCORDANCE
WITH COVENANTS AND CONDITIONS GOVERNING SUCH SALE
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, the Agency has heretofore entered into a Disposition and
Development Agreement with Lewis and Marion Freedman (the "Freedmans")
dated February 17, 1981 (the "DDA"), providing for the sale and
redevelopment of a portion of the Project Area (the "Site"); and
WHEREAS, the Freedmans assigned all of their right, title and
interest in the DDA to Hurst Associates, a California Limited Partnership
("Developer"), by that certain Assignment Agreement dated January 15,
1985; and
WHEREAS, Developer accepted the assignment of the DDA from the
Freedmans, and assumed the obligations thereof, and agreed to perform all
of said obligations thereunder, and agreed to be bound by all of the
covenants, conditions and restrictions contained therein, all by that
certain Acceptance and Assumption Agreement dated January 15, 1985; and
WHEREAS, Developer has submitted to the Agency a written offer in
the form of a First Implementation Agreement to the DDA (the "First
Implementation Agreement") to purchase the Site at a fair and equitable
price for uses in accordance with the Redevelopment Plan; and
WHEREAS, the Agency has determined that Developer possesses the
qualifications and financial resources necessary to acquire and ensure
redevelopment 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 DDA, as implemented by the First Implementation Agreement thereto,
to the Agency, the estimated value of the interests to be conveyed
determined at the highest uses permitted under the Redevelopment Plan,
and the purchase price for the Site, and made said summary available for
public inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, pursuant to 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 First Implementation Agreement; and
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WHEREAS, the City Council has duly considered all terms and
conditions of the First Implementation Agreement and finds that the
redevelopment of the Site pursuant to the DDA, as implemented by the
First Implementation Agreement, is in the best interest of the City of
~~` Anaheim and the health, safety and welfare of its residents, and in
accord with the public purposes and provisions of applicable State and
local law and requirements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANAHEIM AS FOLLOWS:
1. The City Council hereby approves the assignment of the DDA
from the Freedmans to Developer.
2. The City Council hereby finds and determines that the
consideration for the sale of the Site pursuant to the DDA, as
implemented by the First Implementation Agreement, is not less than fair
market value in accordance with covenants and conditions governing such
sale, as set forth in the summary prepared in connection herewith.
3. The City Council hereby approves the First Implementation
Agreement.
THE FOREGOING RESOLUTION is approved and adopted by the City
Council of the City of Anaheim this 1 to day of Fehr„ary , 1,985.
MAYOR OF THE CITY OF NAHEIM
ATTEST:
CITY CLERK OF THE CITY OF ANAHEIM
.c
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Resolution No. 85R-80 was introduced and adopted at a regular ,,,,.,,,,,~
meeting provided by law, of the City Council of the City of Anaheim held on
the 12th day of February, 1985, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Bay, Overholt, Pickler and Roth
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed said
Resolution No. g5 R-80 on the 12th day of February, 1985.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 12th day of February, 1985.
G~~~~
CI Y CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original of Resolution No. 85R- 3~ duly passed and adopted
by the Anaheim City Council on Feburary 12, 1985.
i~ l._
CITY CLERK