ARA89-001RESOLUTION NO. ARA89-1
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY
APPROVING THE FOURTH AMENDMENT TO THE DISPOSITION
AND DEVELOPMENT AGREEMENT BETWEEN THE 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, that certain Second Amendment
dated September 9, 1986, and that certain Third Amendment dated
March 17, 1988; and
WHEREAS, the Site is to be developed in phases and has
generally been subdivided for such purpose; and
WHEREAS, certain of the parcels of the Site are: (1)
Parcel PA (an air rights parcel), immediately east of that
certain office building located at 222 South Harbor Boulevard
along Broadway, on which a parking structure has been constructed
by Agency to provide appurtenant parking for said office building
(the "Parcel PA Parking Structure"); (2) Parcel PC (an air rights
parcel), immediately above Parcel PA, on which Agency proposes to
construct and lease to Meyer a four level expansion of the Parcel
PA Parking Structure (the "Parcel PC Parking Structure") to
provide appurtenant parking for an office building to be built
immediately to the east of the Parcel PA/PC Parking Structure;
(3) Parcel C, bounded by the Parcel PA Parking Structure,
Chestnut Street, Clementine Street and Broadway, on which Meyer
is to build an office building (the "Parcel C Office Building");
(4) Parcels E/F, south of Lincoln Avenue, west of Clementine
Street and north of Chestnut Street, on which Meyer is to build a
hotel; (5) Parcels B, PB and H, immediately east of Harbor
Boulevard and north of Chestnut Street, on which Meyer is to
construct an office building and appurtenant parking structure;
and
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WHEREAS, Meyer has executed and submitted to Agency
copies of a proposed Fourth Amendment to the DDA (the "Fourth
Amendment") which would, inter alia: (1) provide for the lease
with option to purchase of the Parcel PA Parking Structure by
Agency to Meyer; (2) provide for the construction and lease with
option to purchase of the Parcel PA Parking Structure by Agency
to Meyer; (3) revise the purchase price that Meyer would pay to
Agency for sale of Parcels E/F; (4) delete Parcels B, PB and H
from the Site; (5) revise the Schedule of Performance by which
Meyer will be obligated to develop Parcels C, E/F; (6) modify the
form and amount of the Good Faith Deposit made by Meyer to
Agency; and (7) provide for good faith negotiations between Meyer
and Agency for the lease of space for the Community Development
Department in the Parcel C Office Building;
WHEREAS, Agency has prepared a summary setting forth the
cost to Agency of the DDA, as amended by the Fourth Amendment,
the estimated value of the interests to be conveyed at the
highest uses permitted under the Redevelopment Plan, the purchase
prices and rental payments, and has made said summary available
for public inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, the Fourth Amendment does not substantially
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 Fourth Amendment; and
WHEREAS, pursuant to the California Community
Redevelopment Law, Agency and the City Council held a joint
public hearing on the Fourth Amendment, including, without
limitation, the revised terms of sale of Parcel E/F, and the
lease terms of Parcels PA and PC; and
WHEREAS, following such joint public hearing, the City
Council found and determined that the consideration for the sale
of Parcels E/F, and for the lease with option to purchase of
Parcels PA and PC, is not less that 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 Fourth Amendment, and finds that the changes
contained in the Fourth 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 purpose and
provisions
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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 Fourth 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 are
not changed by the Fourth Amendment, and such certifications,
findings and determinations are hereby ratified in their
entirety.
3. The Chairman is hereby authorized to execute the
Fourth Amendment on behalf of the Agency.
4. The Executive Director of the Agency (or his or
her designee) is hereby authorized, on behalf of the Agency, to
sign all documents necessary and appropriate to carry out and
implement the Fourth Amendment and to administer the Agency's
obligations, responsibilities and duties to be performed under
the Fourth Amendment.
THE FOREGOING RESOLUTION is approved and adopted by the
Anaheim Redevelopment Agency this 21st day of March ,
1989.
ATTEST:
2
SECRETARY
ANAHEIM REDEVELOPMENT AGENCY
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CftAIRMiCN
RE
ANAHEIM REDEVELOPME T AGENCY
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. ARA89-1 was passed and adopted at a
regular meeting of the Anaheim Redevelopment Agency held on the 21st day of
March, 1989, by the following vote of the members thereof:
AYES: AGENCY MEMBERS: Daly, Ehrle, Pickler, Kaywood and Hunter
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 22nd day of March, 1989.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 2nd day of
March, 1989.
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SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY
(SEAL)
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