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ARA-2006-001 RESOLUTION NO. ARA-2006-001 RESOLUTION OF THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING A DISPOSITION AND DEVELOPMffiNTAGREE~NT~HBROOKmELDOLnffiSTREET LLC AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is engaged in implementation of the Redevelopment Plan for the Anaheim Merged Redevelopment Project (the "Redevelopment Plan"); and .. ....... WHEREAS, the Agency desires to redevelop those approximately eighteen and twenty-two hundredths (18.22) acres generally located at 610 South Olive Street and 525 East South Street in the City of Anaheim (the "Agency Parcels"), as well as those approximately two and one tenth (2.1) acres generally located at 711 East South Street (the "Developer Parcel"); and WHEREAS, in order to implement the Redevelopment Plan, the Agency desires to enter into that certain Disposition and Development Agreement dated as of March 15,2006 (the "DDA") by and between the Agency and Brookfield Olive Street LLC, (the "Developer") pursuant to which (i) the Agency would sell the Agency Parcels to the Developer, (ii) Developer would acquire the Developer Parcel, and (iii) the Developer would construct housing on the Agency Parcels and the Developer Parcel (collectively, the "Site") for subsequent sale to low or moderate-income persons or families at affordable housing costs, requiring that such houses remain continuously occupied by low or moderate-income owners at an affordable housing cost for the period of the covenants set forth therein (the "Housing Project"); and .~ WHEREAS, pursuant to Section 33433 of the California Redevelopment Law ("CRL"), the Agency is authorized, with the approval of the City Council of the City of Anaheim (the "City") after conducting a public hearing, to. sell or lease the Agency Parcels for development pursuant to the Redevelopment Plan upon a determination by the City Council that the consideration for such sale or lease is not less than fair reuse value at the use and with the covenants and conditions and development costs authorized by the sale or lease; and WHEREAS, in connection with the DDA, Agency staffhas had prepared, and the Agency has reviewed and considered, a "summary report" setting forth: (i) the cost of the DDA to the Agency, (ii) the estimated value of the interests to be sold to the Developer, determined at the highest and best uses permitted under the Redevelopment Plan, (iii) the estimated value of the interests to be sold, determined at the uses and with the conditions, covenants and development costs required by the sale, and (iv) the purchase price for the Developer's acquisition of the Agency Parcels; and WHEREAS, the DDA contains all of the terms, covenants, conditions, restrictions, obligations and provisions required by state and local law; and WHEREAS, the Housing Project will assist with the removal of blight within the Redevelopment Project and is consistent with the implementation plan adopted by the Agency for the Redevelopment Plan pursuant to Section 33490 of the CRL (the "Implementation Plan"); and WHEREAS, pursuant to the California Environmental Quality Act (Public Resources Code Section 21000 et seq.) ("CEQA"), and the CEQA Implementing Guidelines (14 California Code ofReguJations Section 15000 et seq.) (the "Guidelines"), the City of Anaheim (the "City") adopted and certified Anaheim General Plan and Zoning Code Update Environmental Impact Report No. 330 (the "General Plan Update EIR") in connection with the City's General Plan update in 2004 (as updated, the "General Plan"); and ~ WHEREAS, the General Plan Update EIR is a Program EIR under CEQA and the Guidelines, addressing the environmental impacts from the City's ultimate build-out, considering maximum densities and the effects thereof, and establishing a mitigation monitoring program which requires, among other things, subsequent focused studies and the implementation of mitigation measures where required; and WHEREAS, the Agency has reviewed and determined that the Housing Project falls within the scope of the activities addressed in the General Plan Update EIR and the General Plan Update EIR adequately describes the Housing Project for purposes of CEQA because (i) the General Plan Update EIR is a Program EIR, (ii) the Housing Project is consistent with the General Plan, (iii) the Housing Project presents no new environmental effects which could occur that were not examined in the General Plan Update EIR, and (iv) there is no new information to suggest that new mitigation measures would be required of the Housing Project; and .,~ WHEREAS, the Anaheim Housing and Community Development Commission has recommended that the City Council of the City and the Governing Board of the Agency approve the DDA and the conceptual site plan and elevations for the Housing Project; and WHEREAS, pursuant to the CRL, the Agency Governing Board and the City Council of the City have conducted a duly noticed joint public hearing on the DDA, at which public hearing all persons were given an opportunity to be heard; and WHEREAS, the Governing Board of the Agency has duly considered all of the terms and conditions of the DDA and believes that the Housing Project is in the best interests of the City of Anaheim and the health, safety, morals and welfare of its residents, and is in accord with the public purposes and provisions of applicable state and local law and requirements. NOW, THEREFORE, THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: 2 Section 1. Environmental Assessment. The Agency hereby certifies that it has reviewed the Housing Project and finds that impacts associated with the development of the Housing Project have been previously covered in the General Plan Update EIR. Section 2. CRL Section 33433 Findings. The Agency hereby finds and determines that, based on substantial evidence in the record before it: (i) the consideration for the Agency's disposition of the Agency Parcels pursuant to the DDA is not less than the fair reuse value in accordance with conditions, covenants and development costs required by the DDA, (ii) the development of the Housing Project will assist in the elimination of blight in the Redevelopment Project area, will contribute to the provision of housing for low and moderate-income persons, and is consistent with the Implementation Plan adopted by the Agency for the Redevelopment Plan. ",-.. Section 3. ApprovalofDDA. The DDA, a copy of which is on file with the Secretary of the Agency, is hereby approved and the Executive Director of the Agency is hereby authorized and directed to execute and administer the DDA on behalf of the Agency. Section 4. Design Development Approval. The conceptual site plan and elevations for the Housing Project presented to the Governing Board of the Agency concurrently with the DnA are hereby approved. THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE GOVERNING BOARD OF THE ANAHEIM REDEVELOPMENT AGENCY THIS TWENTY-EIGHTH (28TH) DAY OF MARCH, 2006, BY THE FOLLOWING ROLL CALL VOTE: AYES: ,~, Agency Chairman Pringl,e, Agency Members Sidh~, Hernande~. Galloway, Chavez NOES: NONE ABSTAIN: NONE ABSENT: NONE CH A~ I . L.t..~ <...(uc... A ENe SE~ARY 61140.1 3