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92-079 RESOLUTION NO. 92R-79 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM APPROVING THE SALE OF THE PROPERTY SUBJECT TO THE THIRD AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND AMONG THE ANAHEIM REDEVELOPMENT AGENCY, LINCOLN ANAHEIM VILLAGE LIMITED PARTNERSHIP, AND KAUFMAN AND BROAD OF SOUTHERN CALIFORNIA, INC. WHEREAS, the Anaheim Redevelopment Agency (the "Agency") and Lincoln Property Development Company N.C., Inc. (the "Initial Developer") entered into a certain Disposition and Development Agreement, dated as of September 22, 1989 (the "DDA") for the disposition of certain real property to the Initial Developer and development of specified attached and detached for sale dwellings (the "For Sale Residential Units"), multiple family rental dwellings (the "Rental Units") and commercial/retail improvements (the "Retail Improvements"); and WHEREAS, the City Council approved by Resolution No. 90R-437 on December 10, 1990, the disposition of real property pursuant to the First Amendment to the Disposition and Development Agreement (the "First Amendment"), which revised the sales price and other economic terms of the DDA and approved the assignment to Lincoln Anaheim Village Limited Partnership (the "Apartment Developer") of a portion of the Developer's obligations under the DDA with'respect to the Rental Units; and WHEREAS, the City Council approved by Resolution No. 91R-133 on May 7, 1991, a Second Amendment to the Disposition and Development Agreement ("Second Amendment") pursuant to which, among other things, the Initial Developer assigned its rights and obligations with respect to the For Sale Residential Units to Kaufman and Broad of Southern California, Inc. (the "For Sale Developer"); and WHEREAS, the Initial Developer, the Apartment Developer and the Agency are proceeding to perform their respective obligations pursuant to the DDA, the First Amendment and the Second Amendment; and WHEREAS, the For Sale Developer, the Apartment Developer, and the Agency desire to approve a Third Amendment to the Disposition and Development Agreement (the "Third Amendment") which would provide for the conveyance of an additional parcel of real property from the Agency to the For Sale Developer for the development of six (6) attached townhouse units thereon and the conveyance of certain trees from the Agency to the Apartment Developer; and WHEREAS, the approval and execution of the Third Amendment will facilitate the orderly completion of improvements by the For Sale Developer as contemplated in the DDA and in furtherance of the Redevelopment Plan for the Alpha Redevelopment Project (the "Redevelopment Plan"); and WHEREAS, the Agency and the City Council of the City of Anaheim (the "City Council") have conducted a duly noticed joint public hearing regarding the Third Amendment and the proposed acquisition and disposition of real and personal property in accordance with California Health and Safety Code Sections 33431 and 33433; and WHEREAS, the staff report pertaining to the Third Amendment, which has been on display prior to the joint public hearing in accordance with Section 33433 of the California Health and Safety Code, contains a detailed description of the provisions of the Third Amendment; and WHEREAS, the City Council and the Agency have approved by resolution a finding that the Third Amendment will not create any new significant environmental impacts not considered in previous environmental documents for the Project Alpha Redevelopment Project and approving a negative declaration therefor; NOW, THEREFORE, the City Council of the City of Anaheim does resolve as follows: 1. The City Council finds and determines, based upon the testimony and information presented during the public hearing with respect to the Third Amendment, that the consideration for the real and personal property to be transferred to the For Sale Developer and the Apartment Developer is fair and in amounts adequate and necessary to effectuate the purposes of the Redevelopment Plan. The price for the interests to be conveyed by the Agency to the For Sale Developer and the Apartment Developer has been determined at the highest uses permitted under the Redevelopment Plan. 2. The City Council finds and determines that: (a) the approval of the Third Amendment will promote the objectives of the Redevelopment Plan and promote the health, safety and welfare of the citizens of the City of Anaheim; and (b) the Third Amendment is consistent with the orderly development of the improvements to be provided by the For Sale Developer and the Apartment Developer pursuant to the DDA. 04/13/92 0288Q/2621/012 -2- 3. The City Council approves the sale of the subject property pursuant to the Third Amendment, and authorizes and directs the Mayor and the City Manager to execute such documents as may be necessary and appropriate to effectuate the sale of the subject property pursuant to the DDA as now amended. THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this 21st day of April , 1992. MAYOR OF THE AHEIM ATTEST: CITY CLERK OF THE CITY OF ANAHEIf~ 04/13/92 0288Q/2621/012 -3- 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. 92R-79 was introduced and adopted at a regular meeting provided by law, of the Anaheim City Council held on the 21st day of April, 1992, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Simpson, Ehrle, Pickler and Daly NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: Hunter AND I FURTHER certify that the Mayor Pro Tem of the City of Anaheim signed said Resolution No. 92R-79 on the 22nd day of April, 1992. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the City of Anaheim this 22nd day of April, 1992. CITY 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. 92R-79 duly passed and adopted by the City Council of the City of Anaheim on April 21, 1992. CITY CLERK OF THE CITY OF ANAHEIM