ARA88-008RESOLUTION NO. ARA88-8
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT
AGENCY APPROVING THE THIRD AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN
THE ANAHEIM REDEVELOPMENT AGENCY AND MEYER
INVESTMENT PROPERTIES, INC.
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, in order to implement the Redevelopment Plan, the
Agency entered into that certain Disposition and Development
Agreement with Meyer Investment Properties, Inc. ("Meyer") dated
November 8, 1983, (the "DDA"), for the sale of certain real
property (the "Site") located at the northeast corner of Broadway
and Harbor Boulevard; and
WHEREAS, the DDA was amended by that certain First
Amendment dated December 11, 1984, and that certain Second
Amendment dated September 9, 1986; and
WHEREAS, the Site is to be developed in phases and has
generally been subdivided for such purposes; and
WHEREAS, three (3) of the parcels of the Site are:
(1) Parcel A, at the intersection of Broadway and Harbor Boulevard,
on which a ten (10) story office building has been constructed,
(2) Parcel PA (an air rights parcel), immediately east of Parcel A
along Broadway, on which a parking structure has been constructed
by Agency to provide appurtenant parking for the Parcel A office
building, and (c) Parcel D, located at the northeast corner of
Broadway and Clementine Street, currently vacant but on which the
DDA provided for housing to be built; and
WHEREAS, Meyer has executed and submitted to Agency copies
of a proposed Third Amendment to the DDA (the "Third Amendment")
which would, inter alia: (1) revise the adjusted purchase price
that Meyer would pay to Agency for sale of Parcel A, (2) revise
Parcel PA, including the parking structure thereon, (3) delete
Parcel D from the DDA by Meyer quitclaiming all right, title and
interest therein, and (4) revise the Schedule of Performance by
which Meyer will be obligated to develop the remainder of the Site;
and
WHEREAS, Agency has prepared a summary setting forth the
cost to Agency of the DDA, as amended by the Third Amendment, the
estimated value of interest to be conveyed at the highest uses
permitted under the Plan, and the purchase price, and has made same
summary available for public inspection in accordance with the
California Community Redevelopment Law; and
WHEREAS, the Third Amendment does not change the
development of the Site or the environmental impact considered in
the Final Subsequent Environmental Impact Report previously
prepared for the DDA; and
WHEREAS, the Community Redevelopment Commission of the
City of Anaheim has reviewed the proposed Third Amendment and has
recommended its approval by the Agency and the City Council of the
City of Anaheim (the "City Council"); and
WHEREAS, pursuant to the California Community
Redevelopment Law, Agency and the City Council held a joint public
hearing on the Third Amendment, including, without limitation, the
revised terms of sale of Parcels A and PA; and
WHEREAS, following such joint public hearing, the City
Council found and determined that the consideration for the sale of
Parcels A and PA is not less than their fair market values in
accordance with covenants and conditions governing their sale; and
WHEREAS, Agency has duly considered all terms and
conditions of the Third Amendment, and finds that the changes
contained in the Third Amendment are in the best interests of the
City of Anaheim and the health, safety, morals and welfare of its
residents, are in accord with the public purposes and provisions of
applicable State and local law and requirements, and are necessary
to effectuate the Redevelopment Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE ANAHEIM REDEVELOPMENT
AGENCY AS FOLLOWS:
1. The proposed Third Amendment and the terms and
conditions thereof are hereby approved.
2. The Agency hereby finds and determines that the
certifications, findings, and determinations with respect to
environmental impacts of the proposed development of the Site, as
set forth in Resolution No. ARA83-44 of the Agency, are not changed
by the Third Amendment, and such certifications, findings and
determinations are hereby ratified in their entirety.
3. The Chairman is hereby authorized to execute the Third
Amendment on behalf of the Agency.
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4. The Executive Director of the Agency (or his or her
designee) is hereby authorized, on behalf of the Agency, to
implement the Third Amendment and to administer the Agency's
obligations, responsibilities and duties to be performed under the
Third Amendment.
THE FOREGOING RESOLUTION is approved and adopted by the
Anaheim Redevelopment Agency this 15th day of ll March, 1988.
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SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
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ANAHEIM REDEVELOPMEINT AGENCY
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, LEONORA N. SOHL, Secretary of the Anaheim Redevelopment Agency, do hereby
certify that the foregoing Resolution No. ARA88-8 was passed and adopted at a
regular meeting of the Anaheim Redevelopment Agency held on the 15th day of
March, 1988, by the following vote of the members thereof: is
AYES: AGENCY MEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: AGENCY MEMBERS: None
ABSENT: AGENCY MEMBERS: None
AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency
signed said Resolution on the 16th day of March, 1988.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 16th day of
March, 1988.
SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)