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ARA2002-07RESOLUTION NO. ARA 2002-7 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE ANAHEIM REDEVELOPMENT AGENCY AND CIM CALIFORNIA URBAN REAL ESTATE FUND, LP, A DELAWARE LIMITED PARTNERSHIP, REGARDING CERTAIN REAL PROPERTY IN REDEVELOPMENT PROJECT ALPHA, AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is engaged in activities necessary to carry out and implement the Redevelopment Plan for the Agency's Alpha Project (the "Project"); and WHEREAS, the Agency owns three (3) development sites in Downtown Anaheim, within the area bordered by Center Street Promenade, Anaheim Boulevard, Broadway and Harbor Boulevard (the "Development Sites"), which Development Sites have been previously developed for urban use; and WHEREAS, the Agency and CIM California Urban Real Estate Fund, LP (the Developer) have entered into an Exclusive Negotiation Agreement dated as of August 1, 2002, pursuant to which the Agency and the Developer agreed to negotiate with one another towards a Disposition and Development Agreement for the development of the Development Sites; and WHEREAS, in order to carry out and implement the Redevelopment Plan the Agency proposes to enter into that certain Disposition and Development Agreement (the "Agreement") with the Developer for the Agency's sale of the Development Sites to the Developer, and for the Developer's development of a public library, attached housing, retail space, public parking structures and other improvements thereon, all as described in the Agreement (the "Development"); and WHEREAS, the Developer has submitted to the Agency and the City Council of the City of Anaheim (the "City Council") copies of the Agreement in a form executed by the Developer; and WHEREAS, pursuant to Section 33433 of the Community Redevelopment Law (Calitbruia Health and Safety Code Section 33000, et seq.), the Agency is authorized, with the approval of the City Council after a duly noticed public hearing, to sell the Development Sites for development pursuant to the Redevelopment Plan upon a determination by the City Council that the sale of the property will either assist ~n the elimination of blight or provide affordable housing for low and moderate income persons, that the consideration for such sale is not less than either the fair market value or fair reuse value of the Development Sites in accordance with the covenants and conditions governing the sale and the development costs required thereof, and that the sale is consistent with the implementation plan which has been adopted by the Agency for the Project; and WHEREAS, the City Council has previously determined, in its adoption of the ordinance approving the Project, that the Site was blighted, including substandard structures, serious grade problems, structural deterioration and poor maintenance; and 1 DOCSOC\927495v2\22021.0108 WHEREAS, the Agreement would provide for the elimination of such blighting conditions by providing for the construction of the Development on such previously blighted real property; and WHEREAS, the purchase price for the Development Sites payable under the Agreement is not less than the reuse value of the Development Sites, at the use and with the covenants, conditions precedent, conditions subsequent and development costs authorized by the Agreement, as determined by the reuse analysis of the Agreement which has been performed by the Agency's financial consultants; and WHEREAS, the Agency has adopted an Implementation Plan for the Project pursuant to Health and Safety Code Section 33490, which identifies goals and objectives including eliminating substandard structures and eliminating physical and economic deficiencies; and WHEREAS, the Implementation Plan sets forth a program of actions which include improving public facilities and infrastructure, upgrading and expanding commercial programs, and expanding retail programs; and WHEREAS, the Agreement will assist the Agency in meeting the goals and objectives set forth in the Implementation Plan and the program of actions by the construction of the Development; and WHEREAS, Health and Safety Code Section 33445 authorizes a redevelopment agency, with the consent of the legislative body, to pay all or part of the value of the land for and the cost of the installation and construction of any building, facility, structure, or other improvement which is publicly owned either within or without the project area upon certain findings; and WHEREAS, Health and Safety Code Section 33679 requires that before a redevelopment agency commits to use property tax increment funds to pay the cost of land for and installation and construction of publicly owned buildings, the legislative body shall hold a public hearing thereon; and WHEREAS, prior to such public hearing the legislative body is required to give notice of the hearing and to make available for public inspection a summary report which estimates the amount of taxes proposed to be used to pay for such public facilities, which sets forth the facts supporting the determinations required to be made pursuant to Health and Safety Code Section 33445, and which sets forth the redevelopment purpose for which such taxes are being used; and WHEREAS, the expenditure of Agency funds for the development of the public library and public parking structures on the Development Sites is of benefit to the Project by developing vacant sites in the downtown into a modem public library building together with sufficient and convenient complementary services and public parking; and WHEREAS, there are no other reasonable means of financing the cost of the public library and public parking structures available to the community, as the City has no additional funds available to pay for such costs as existing City financial resources are not sufficient to construct the library and the necessary public parking structures, and the Development would be economically infeasible if the Developer was required to bear such costs; and WHEREAS, Section 316 of the Redevelopment Plan for the Project provides for the 2 DOCSOC\927495v2~22621.0108 Agency to pay all or part of the cost of the installation of publicly owned improvements inside or outside of the Project; and WHEREAS, the public library and public parking structures would satisfy the above objectives of the Implementation Plan by providing for a modem public library building and related amenities and public parking; and WHEREAS, a joint public hearing of the Agency and City Council on the proposed Agreement was duly noticed in accordance with the requirements of Health and Safety Code Sections 33431, 33433 and 33679, and the proposed Agreement, and a summary report meeting the requirements of Health and Safety Code Sections 33433 and 33679, were available for public inspection prior to the joint public hearing consistent with the requirements of Health and Safety Code Sections 33433 and 33679; and WHEREAS, on October 29, 2002, the Agency and City Council held a joint public hearing on the proposed Agreement, at which time the Agency reviewed and evaluated all of the information, testimony, and evidence presented during the joint public hearing; and WHEREAS, all actions required by all applicable law with respect to the proposed Agreement have been taken in an appropriate and timely manner; and WHEREAS, pursuant to the California Environmental Quality Act ("CEQA") the Agency has certified a Final Subsequent Environmental Impact Report on November 23, 1976 by Resolution No. ARA 76-38, a Supplemental EIR for Project Alpha Parcel 10 on September 6, 1983 by Resolution 83-35, a Subsequent EIR for Parcel 8 and 9 on November 8, 1983 by Resolution No. ARA 83-83, an Addendum for Koll Anaheim Center on January 9, 1990 by Resolution Nos. ARA 90-1 and 90R-13, and an Initial Study and Trip Generation Analysis on March 8, 1994, by Resolution Nos. ARA 94-2 and 94R-31; and WHEREAS, the Agreement is within the scope of one or more of the projects analyzed under the foregoing environmental documents, and (a) approval of the Agreement does not constitute a substantial change in those previously analyzed projects that will require major revision of the CEQA documentation prepared therefor due to the involvement of new significant environmental effects, or a substantial increase in the severity of previously identified significant effects; (b) approval of the Agreement does not constitute a change in the circumstances under which those previously analyzed projects are to be undertaken which will require major revisions of the previous CEQA documentation due to the involvement of new significant environmental effects or a substantial increase in the severity of previously identified significant effects; (c) there is no new information of substantial importance which was not and could not have been known at the time the previous CEQA documents were certified as complete or adopted that shows the previously analyzed projects will have any significant effects not discussed in such previous CEQA documents, or will have substantially more severe effects than were discussed in the previous CEQA documents; or that mitigation measures or alternatives which would substantially reduce one or more significant effects thereof, which were previously found infeasible, would in fact now be feasible; and (d) there are no mitigation measures or alternatives different from those previously considered that would substantially reduce one or more significant effects of the projects, which the proponents refuse to adopt; and WHEREAS, to the extent the improvements contemplated in the Agreement will 3 DOCSOC\927495v2~22621.0108 require the processing and approval of land use entitlements and permits, such land use entitlements will, to the extent necessary under CEQA and the CEQA Guidelines (14 California Code of Regulations sections 15000 et seq.), be subject to further CEQA analysis; and WHEREAS, the Agency has duly considered all terms and conditions of the proposed Agreement and believes that the redevelopment of the Development Sites pursuant thereto is in the best interests 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 laws and requirements. NOW, THEREFORE, BE IT RESOLVED by the Anaheim Redevelopment Agency as follows: 1. The Agency finds and determines that, based upon substantial evidence provided in the record before it, the consideration for the Agency's sale of the Development Sites pursuant to the terms and conditions of the Agreement is not less than the fair reuse value of the Development Sites, at the use and with the covenants, conditions precedent, conditions subsequent and development costs authorized by the Agreement. 2. The Agency hereby finds and determines that the sale of the Development Sites pursuant to the Agreement will eliminate blight within the Project by providing for the proper reuse and redevelopment of a portion of the Project which was declared blighted for the reasons described above. 3. The Agency hereby finds and determines that the Agreement and the Agency's payment of a portion of the costs of the public library and public parking structures is consistent with the provisions and goals of the Implementation Plan and the Redevelopment Plan. 4. The Agency finds and determines that there are no other reasonable means of financing the costs of the construction of the library and parking structures available to the community, other than the funds of the Agency. 5. The Agency hereby finds and determines that the library and parking structures will be of benefit to the Project. 6. The Agency hereby finds that the Agreement is within the scope of one or more projects previously analyzed pursuant to CEQA as set forth above, and that therefore the approval of the Agreement is exempt from further CEQA analysis pursuant to Public Resources Code section 21166 and CEQA Guidelines Section 15162 (14 California Code of Regulations § 15162). The Agency further finds and resolves that, to the extent required by CEQA, any land use entitlements and permits required in conjunction with the implementation of improvements contemplated by the Agreement shall be subject to further analysis under CEQA. 7. The Agency hereby approves the Agreement, and authorizes and directs the Chairman of the Agency to execute the Agreement on behalf of the Agency. A copy of the Agreement when executed shall be placed on file in the office of the Agency Secretary. The Executive Director of the Agency, or designee, is authorized to implement the Agreement and take all further actions and execute all escrow documents and other documents which are necessary or appropriate to carry out the Agreement. 4 DOCSOC\927495v2~262 l ~0108 8. The Agency hereby directs Agency staff to prepare and file a Notice of Exemption pursuant to CEQA which states that the approval of the Agreement is within the scope of one or more projects previously analyzed pursuant to CEQA, and therefore is exempt from further CEQA analysis. 9. The Agency Secretary shall certify to the adoption of this Resolution. The foregoing Resolution is hereby approved by the Anaheim Redevelopment Agency this 29tl{ilayof October , 2002. ATTEST: ~gen~y Se~ethr,) - 5 DOCSOC\927495v2L22621.0108 APPROVED AS TO FORM: JACk, CITY ATTO~E~ A%5, istant City Attorney Stradling Yocca Carlson & Rauth, Agency Special Counsel 6 DOCSOC\927495v2~2621.0108 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, SHERYLL SCHROEDER, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARA2002-7 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 29th day of October 2002, by the following vote of the members thereof: AYES: CHAIRMAN/AGENCY: Feldhaus, Kdng, McCracken, Daly NOES: CHAIRMAN/AGENCY: None ABSENT: CHAIRMAN/AGENCY: None ABSTAINED: CHAIRMAN/AGENCY: Tait (~ECRET~RY OI~ THE ANAHEIM REDEVELOPMENT AGENCY (SEAL)